The Chase Freedom® points value is 1 cent each. While marketed as a “cash back” card, Chase Freedom® actually gives Ultimate Rewards points. Cardholders can redeem these points for cash, gift cards, merchandise or travel purchases at a rate of 1 cent per 1 point. Points redeemed for Amazon.com purchases using the Shop With Points feature are also worth 1 cent apiece. There’s no minimum points requirement for travel purchases, cash back as a direct deposit, or to Shop With Points. There is a 2,000-point ($20) minimum to redeem for a statement credit. Gift card increments vary, depending on the retailer.
There’s also no limit to the number of points you can earn. And Chase Freedom® points don’t expire as long as your account is active and in good standing. However, Chase has the power to change the value of Ultimate Rewards points at any time, so it’s best to redeem them often before devaluation occurs.
Chase Freedom® has limited use as an Ultimate Rewards card, meaning you can’t transfer points to any of the Ultimate Rewards travel partners’ loyalty programs. Chase Freedom® has a $0 annual fee, and only Ultimate Rewards cards that have an annual fee are eligible to transfer points to travel partners. However, you can move Freedom Ultimate Rewards points to a transfer-eligible card such as the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card. Then, you can transfer points from any of those cards to one of Chase’s 14 travel partners’ loyalty programs at a 1:1 ratio. Travel partners include Southwest Airlines, British Airways, United Airlines, IHG, Marriott and others. The value of points/miles from those programs varies.
In addition, if you transfer points from the Chase Freedom® to Chase Sapphire Preferred or Chase Ink Preferred, you’ll get 1.25 cents per point for travel booked through Ultimate Rewards. With Chase Sapphire Reserve, points are worth 1.5 cents apiece when used for travel. If you used the Chase Freedom® alone for travel, you’d only get 1 cent per point.
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