- A statement credit or check for $.01 per point, or $1000 for 100,000 points
- Used to purchase travel through the Chase Ultimate Rewards travel site at $.015 per point, or $1500 worth of travel. That's basically a Travelocity/Expedia travel site that you can book travel with and use Chase points or cash or a combination of the two. Prices are pretty much the same as what you get on other travel sites.
- Transfer 1:1 to Chase transfer partners. The most notable are United Airlines, Southwest Airlines, Hyatt, IHG, and others. So 100,000 Chase points can be transferred to become 100,000 Hyatt points, and that can be used to get anywhere from 20 free nights in a category 1 Hyatt hotel, to 3 free nights in a category 7 hotel. Category 7 would include places like the Park Hyatt Maldives, where rooms are usually over $1000 per night, so that's $3000 in value.