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Chase Sapphire Preferred points are worth 0.8 cent to 1 cents apiece, depending on how you redeem them. For example, you could redeem 10,000 points for a $100 statement credit. This card is part of the Chase Ultimate Rewards program that allows cardholders to earn points and then redeem them for travel, statement credits, and gift cards, among other things.
Chase Sapphire Preferred Points Value
- Travel: When you redeem for travel through the Chase Travel portal, the Chase Sapphire Preferred points value is 1 cent per point.
- Cash back: Chase Sapphire Preferred points are valued at 1 cent per point when redeemed for cash back. This is the average redemption rate for credit card points.
- Gift cards: Buying gift cards with your Chase Sapphire Preferred will also give you 1 cent apiece.
- “Pay with Points”: At the other end of the spectrum, Chase Sapphire Preferred points are worth only $0.008 each (100 points = $.80) when redeemed for purchases on Amazon.com or when you check out with PayPal.
Keep in mind that you also have the option of transferring your Chase Sapphire Preferred points to one of Chase’s 14 travel partners. Transfers are done on a 1:1 basis, in 1,000-point increments. Also, how much you get for transferred points depends on how much the particular travel partner’s points or miles are worth. This offers a certain amount of boom-or-bust potential. Your Chase Sapphire Preferred points could wind up being worth a lot more than normal or a lot less.
At the end of the day, if you don’t plan to redeem for travel through Chase, you might do better with a different credit card. It’s not as rewarding when used as a cash-back vehicle, and there are plenty of more versatile rewards cards available.
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Lynne Riggs, Member
@lynne_riggs
Yeah, each point is worth 1 cent, but they're worth 25% more if you redeem them for travel expenses like plane tickets, hotels, or car rentals.
Robert Stark, WalletHub Credit Cards Analyst
@robert.stark
Depends on what you use the points on really. It's 1 cent per point if you get the statementcredit, but 1.25 if you use'em for travel rewards, so my advice would be to just use them for that.
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What is the difference between cash back and points?
The difference between cash back and points is that the former is the most versatile type of credit card rewards, as it can be redeemed for anything, and there’s never any doubt about how much it’s worth. Points, on the other hand, have a value set by the credit card company and tend to be worth the most when redeemed for travel. Credit card companies won’t always clearly disclose points values, and those values can change over...
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