What is Chase Ultimate Rewards?
Chase Ultimate Rewards is the points program used by every Chase-branded rewards credit card, including the Chase Freedom and Freedom Unlimited, the Chase Sapphire credit cards, and also Chase small business credit cards.
You’ll notice that even the Chase credit cards that are marketed as “cash back” are in reality giving you Ultimate Rewards points equivalent in value to cash. For example, the Chase Freedom Unlimited is marketed as a 1.5% cash back card. In reality, you are getting 1.5 points per dollar with the card, and those points can be converted to cash at a penny per point, which equals the 1.5% shown in the card’s marketing. Chase is not being deceptive, however. By using this points system, you actually have more options to redeem your rewards.