Transfer Chase Ultimate Reward Points to Another Chase Ultimate Rewards Account
In light of recent changes to the Chase Sapphire Preferred and its 7% Annual Dividend (link and link), you might be more inclined on closing your Chase Sapphire Preferred Credit Card or downgrading to a Chase Sapphire Credit Card or Chase Freedom Credit Card.
But before you do anything drastic, think about your Chase Ultimate Rewards Points.
I’ve argued in the past that the more Chase credit cards you have, the less value you get from the Chase Sapphire Preferred. For example, you can earn way more points with a Chase Ink Bold/Plus than a Chase Sapphire Preferred. Several other Chase credit cards earn 2x on dining and travel, such as the Chase Hyatt Credit Card which earns 2x on restaurants, airfare, and rental cars. Just ask yourself, what are you paying $95 each year for?
If you do decide to close or downgrade your Chase Sapphire Preferred, you may want to transfer the Chase Ultimate Rewards Points out to a transfer partner (link) or to a different Chase Ultimate Rewards account.
According to the Chase Ultimate Rewards Terms and Conditions (link), you can combine points from different Chase Ultimate Rewards accounts:
Can I combine the points I earn from other Chase Ultimate Rewards cards?
Yes. You can combine points or rebates from any eligible credit or debit card with Ultimate Rewards.
Note: Once points are transferred, they cannot be credited back. Transfers may only be used to combine points belonging to the same individual or business in the program; or for the purpose of enabling spouses or domestic partners to combine points. Chase will not make the transfer if the credit card account(s) or checking account(s), as applicable, are in default at the time of the transfer.
To read the entire post, please click here.
Currently my Sapphire Preferred is my only Ultimate Rewards card. I have approx. 65K points, not quite sure what I’ll end up doing with them. Anyway, I’m confused about your post, is keeping the Sapphire Preferred the only way to keep my URs? Or how would they transfer to a Chase Ink Bold, which I don’t yet have? My renewal just passed, I assume I might be stuck for another year anyway with the Sapphire Preferred? THANKS MUCH FOR PATIENCE WITH PEOPLE LIKE ME!!!
If your only have the Chase Sapphire Preferred, you should keep your account open. If you are married, your spouse could apply for a Chase Sapphire Preferred and add you as an authorized user and you will get your own card. Then you could downgrade your card to a Chase Freedom and add your spouse as an authorized user. If you cancel or downgrade your Chase Sapphire Preferred within a month or two of when your annual fee posts, you should get a full refund of the annual fee or a prorated refund of the annual fee. Just something to think about. You might want to look into a Chase Ink business card too if you have a business or part time side business.
Grant,
Was concerned about the statement: “Note: Once points are transferred, they cannot be credited back. ”
Just wanted to clarify, so if you transfer UR points from one account to another (e.g. I’ve transfered 30k of Freedom to Ink), is it not possible to transfer them back to Freedom in the future? e.g. when i cancel Ink, I don’t wanna be forced to spend them all of my points which are now in Ink prior to closing the account … thanks!
Maybe the term credited back and transferred back mean different things. I don’t see why Chase would care if you transfer points back and forth between accounts.
You can try it yourself, transfer a few UR points from your Chase Ink Credit Card back to your Chase Freedom Credit Card.
Grant u are wise!! Thanks
I try!
Yep seemed to transfer back and forth just fine bw freedom and ink accounts. Did 1k points back and forth twice
Thanks for the update, I’m glad it worked. I thought it would. The wording in the TOC is confusing.