Why are Chase Ultimate Rewards points so valuable?

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Chase Ultimate Rewards points are one of our favorite rewards program currencies, for a combination of reasons: Ultimate Rewards points are far more valuable than the average rewards point, you have many options for racking up bonus points – including several credit cards that offer generous sign-up bonuses and a diverse array of bonus categories – and your redemption options are extremely flexible.

In the rewards card world, they are known as a “flexible points currency” – meaning you can redeem points for a variety of options, including travel, merchandise, gift cards and cash back. You can also transfer them between Ultimate Rewards cards and to a large list of airline and hotel loyalty programs, giving you access to a huge network of airlines that can take you practically anywhere you want to travel.

Top Chase Ultimate Rewards cards

No annual fee

Chase Freedom Unlimited

Chase Freedom Unlimited®

Premium travel

Chase Sapphire Preferred

Chase Sapphire Preferred® Card*

Luxury travel

Chase Sapphire Reserve

Chase Sapphire Reserve®

5X points on travel booked through Ultimate Rewards

3X points on dining and drugstore purchases

1.5X points on every other purchase

20,000 points if you spend $500 in first 3 months

2X points on travel and dining at restaurants worldwide

1 point per $1 on all other purchases

60,000 bonus points if you spend $4,000 in first 3 months

3X points on travel and dining at restaurants worldwide (excluding purchases covered by $300 travel credit)

1 point per $1 on all other purchases

50,000 bonus points if you spend $4,000 in first 3 months

Ultimate Rewards points value

The value of Ultimate Rewards points varies greatly, depending on how you redeem your points. Most redemption options – including cash back and travel redemptions through the Chase Ultimate Rewards portal – are worth 1 cent, but the value can exceed 2 cents per point if you take advantage of transfer options. A few options, including Amazon.com purchases, are worth less than 1 cent per point.

Redemption Option Point Value
Sapphire Reserve travel redemption (50% bonus) 1.5 cents
Sapphire Preferred and Ink Business Preferred travel redemption (25% bonus) 1.25 cents
Regular travel redemption 1 cent
Statement credit 1 cent
Direct deposit 1 cent
Gift cards 1 cent
Ultimate Rewards portal travel 1 cent
Apple products 1 cent
Amazon.com purchases 0.8 cent
Chase Pay purchases 0.8 cent
Singapore Airlines transfer 2.17 cents
World of Hyatt transfer 2 cents
Iberia Plus transfer 1.7 cents
Southwest Airlines transfer 1.57 cents
United Airlines transfer 1.52 cents
British Airways transfer 1.4 cents
Korean Air transfer 1.4 cents
Emirates Skywards transfer 1.1 cents
Air France/KLM transfer 1 cent
Aer Lingus transfer 1 cent
Virgin Atlantic transfer 0.8 cent
Marriott Bonvoy transfer 0.8 cent
IHG Rewards Club transfer 0.65 cent

One key point to estimating the value of your Ultimate Rewards points: You get a 25% to 50% bonus on your Ultimate Rewards points if you own a premium card such as the Chase Sapphire Preferred Card or Chase Sapphire Reserve and redeem your points for travel through the Ultimate Rewards portal. So, basically, your points are worth between 1.25 and 1.5 cents (depending on which card you own) if you plan to use them for travel rewards. We value Ultimate Rewards points at 1.26 cents per point on average.

As you can see from our chart below, Ultimate Rewards points far exceed the value of the average credit card rewards point, which hovers around 1 cent per point. Compared to other loyalty programs, Ultimate Rewards points fall in the middle-of-the-pack – they are outmatched by miles-based programs, such as AAdvantage and MileagePlus, but they beat the value of similar points-based programs, such as American Express Membership Rewards and Citi ThankYou:

Point value by loyalty program

Other advantages of Ultimate Rewards points:

Ultimate Rewards points don’t expire

Your Ultimate Rewards points are valid as long as your account is open. Also, if you own a premium Ultimate Rewards card, such as the Sapphire Preferred or Sapphire Reserve cards, you can transfer your points to one of those cards or to one of Chase’s travel partners if you plan to close a card.

There’s no limit to how many Ultimate Rewards points you can earn

Though some Ultimate Rewards cards – such as the Chase Freedom card – may enforce a cap on the number of points you can earn on bonus categories, there are no overall limits to the number of Ultimate Rewards points that you can earn in a year or over the lifetime of your Ultimate Rewards membership. As long as you use your cards, you will accumulate Ultimate Rewards points.

You can redeem Ultimate Rewards points for a variety of rewards

Though travel rewards are your best bet, the Ultimate Rewards program gives you a diverse array of redemption options, including statement credits, bank deposits, gift cards and merchandise. Also, you have a lot of flexibility in how you redeem your points for travel. You can purchase travel from an outside site and redeem your points for statement credits or you can purchase travel through the Ultimate Rewards site.

 You can transfer Ultimate Rewards points to Chase’s travel partners at a 1:1 rate

One of the main advantages of Chase Ultimate Rewards is that you can transfer them to an outside loyalty program if you own an Ultimate Rewards card with an annual fee. Chase’s list of travel partners includes several major airlines and hotel chains – giving you access to a worldwide travel network. Your points transfer at a 1:1 rate, which means your points maintain their value once you transfer them.

You can redeem any number of Ultimate Rewards points at any time

You don’t have to wait to accumulate a certain number of Ultimate Rewards points to start using them. You can redeem your points starting at 1 point per 1 cent of cash back.

You can combine points and cash to book travel rewards

You don’t have to worry about collecting a large amount of points to book a travel reward. If you don’t have enough points for a particular flight, you can use cash to cover the remainder of the fare (though a minimum number of points may be required for some flights).

You can transfer Ultimate Rewards points between cards

For rewards card jugglers, Ultimate Rewards offer the valuable opportunity to combine points earned across any Ultimate Rewards cards you have open. This is a great feature that makes combining cards particularly lucrative, as you can stockpile rewards earned on different bonus categories across cards. Plus, if you have a premium card like the Sapphire Preferred or Sapphire Reserve, you can transfer points to that card to unlock a higher point value when redeemed for travel through the Ultimate Rewards portal.

One small drawback: You can’t buy Ultimate Rewards points

Unlike some rewards programs, Chase doesn’t allow you to purchase points to make up for a lack of points. However, given the program’s flexibility, paying with points is mostly an unnecessary option. You can pay with cash to make up for missing points in most cases.

*All information about the Chase Sapphire Preferred Card has been collected independently by CreditCards.com and has not been reviewed by the issuer. This offer is no longer available on our site.

Source: creditcards.com

The Average Salary of a Pilot

The Average Salary of a Pilot

The job of an airline pilot has a certain glamour to it. However, unconventional working hours and plenty of time away from home can be a recipe for stress and burnout. This could be why airline and commercial pilots are compensated fairly well, earning a median annual salary of $115,670. That one number doesn’t tell the whole story, though, as it varies depending on whom you fly for and where you’re based. 

The Average Salary of a Pilot

According to the Bureau of Labor Statistics (BLS), the median salary of the group the BLS calls airline and commercial pilots was $115,670 per year in May 2018. The BLS also tracks the job outlook for the careers it studies, measuring how many jobs the career will add between 2016 and 2026. The BLS job outlook for Airline and Commercial Pilots is 4%, which is about as fast as the average across all careers. According to the BLS, the U.S. will add 4,400 airline and commercial pilots between 2016 and 2026.

Where Pilots Earn the Most

The Average Salary of a Pilot

When it comes to tracking state- and city-level earnings data, the BLS looks at commercial pilots and “airline pilots, copilots and flight engineers” separately. Let’s take a look at where commercial pilots earn the most.

The mean annual wage for commercial pilots is $96,530 per year. According to BLS data, the top-paying state for commercial pilots is Georgia, where commercial pilots earn a mean annual wage of $130,760. Other high-paying states for commercial pilots are Connecticut, New York, Florida and Maryland. The top-paying metro area for commercial pilots is Hilton Head Island-Bluffton-Beaufort, SC, where the annual mean wage for commercial pilots is $128,600. Other high-paying metro areas for commercial pilots are Savannah, GA; Seattle-Tacoma-Bellevue, WA; Bakersfield, CA; Fayetteville-Springdale-Rogers, AR-MO and Spartanburg, SC.

Now let’s take a look at where airline pilots, copilots, and flight engineers earn the most. The top-paying state in this field is Washington, with a mean annual wage of $237,150. Other high-paying states for this profession are Michigan, Nevada, Oregon and California. Of the metro areas for which the BLS has data, the top-paying metro area for airline pilots, copilots and flight engineers is San Francisco-Oakland-Hayward, CA, with a mean annual wage of $247,120. Other high-paying metro areas for this field are Seattle-Tacoma-Bellevue, WA; Las Vegas-Henderson-Paradise, NV; Denver-Aurora-Lakewood, CO; Tampa-St. Petersburg-Clearwater, FL and Chicago-Naperville-Elgin, IL-IN-WI.

Becoming a Pilot

Typically, it’s easier to become a commercial pilot than an airline pilot. Because of this, many airline pilots start their career as commercial pilots. To be a pilot of any kind, you’ll need to have a commercial pilot’s license from the Federal Aviation Administration (FAA).  To be an airline pilot, you’ll need an additional document known as a Airline Transport Pilot (ATP) certificate. This is also issued by the FAA.

In terms of education, you will need a high school diploma and a commercial pilot’s license to become a commercial pilot. To become an airline pilot, you will likely need a bachelor’s degree, although it can be in any subject.

The typical path to becoming a commercial pilot is to complete an FAA-certified flight training program. These are held both at independent flight schools and through colleges and universities. Once you’ve assembled enough flying hours, you can get a job as a commercial pilot.

Regional and major airlines typically require significantly more flight experience for new hires. This is another reason why many people start out as commercial pilots and then move on to working for an airline. According to the BLS, many commercial pilot jobs require a minimum of 500 flying hours, whereas entry-level airline jobs require somewhere around 1,500.

Bottom Line

The Average Salary of a Pilot

Have you ever flown out of an airport and wondered what it would be like to be a pilot? With an average annual salary of $102,520, pilots earn a good living. Not just anyone can become a pilot, however. Commercial pilots must earn a commercial pilot certificate, while airline pilots, copilots and flight engineers must earn the Federal Air Transport certificate and rating for the specific aircraft type they fly. Being a pilot is also a dangerous job, so it’s not surprising that pilots’ compensation is high.

Tips for Saving Responsibly

  • The median pilot salary is enough to live comfortably in most areas of the country, but it’s still important to make sure you’re saving some of that money for emergencies and retirement.
  • A financial advisor can be a big help in managing your money and choosing smart investments that grow your nest egg. Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.

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