How I Earned 500K Chase Ultimate Rewards Points in a Year

Updated: April 4, 2025, 8:30am CDT

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Table of Contents

My Secrets To Earning Half a Million Chase Points
How Much Are 500,000 Chase Points Worth?
Final Thoughts

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Chase Ultimate Rewards offers tremendous value and flexibility, particularly for aspirational travel. With several incredible airline and hotel transfer partners, including Air Canada Aeroplan and World of Hyatt, the possibilities for maximizing these points are endless.

Between strategically timed applications, maximizing personal and business spending, and credit card referrals, I managed to earn half a million Chase Ultimate Rewards points within a year. With these points, I’ve been able to stay at some luxury hotels and take business class flights to many destinations, including Japan, Germany, Singapore, and Hong Kong.

Here’s a look at my strategy — and what this haul of points is actually worth for travel.

My Secrets To Earning Half a Million Chase Points

Generally speaking, the best way to earn Chase Ultimate Rewards points is by scoring welcome bonus offers on various Chase credit cards. Of course, there are other ways to earn points, including maximizing your everyday spending with the right cards and leveraging credit card referrals.

New Chase Credit Cards

I earned most of my Chase Ultimate Rewards points by applying for new cards and meeting the spending requirements for each card. Here’s a look at the 4 Chase cards I strategically applied for.

Chase Sapphire Preferred^® Card

LIMITED-TIME OFFER

Terms Apply / Rates & Fees

Chase Sapphire Preferred^® Card

U.P. Rating

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

Apply Now(at Chase's secure site)

Chase Sapphire Preferred^® Card

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

Welcome OfferEarn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
100,000 points

UP's Offer Valuation*:
$2,000

Annual Fee

$95

APR

19.99% - 28.24% Variable

Credit Recommended

Good to Excellent

Why We Like This Card

The Chase Sapphire Preferred^® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

Pros & Cons

Pros

5x points on all travel booked via the Chase Travel portal
3x points on dining purchases, online grocery purchases, and select streaming services
2x points on all other travel worldwide

Cons

$95 annual fee
No elite benefits like airport lounge access or hotel elite status

Read Full Review

Card Highlights

Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
Enjoy beneﬁts such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
Member FDIC

Financial Snapshot

APR: 19.99% - 28.24% Variable
Foreign Transaction Fees: None

Rewards Center

Chase Ultimate Rewards

The Chase Sapphire Preferred card is arguably the most popular travel rewards card on the market. It provides fantastic perks and benefits and offers bonus earnings on several everyday spending categories.

With the Chase Sapphire Preferred card, you can earn 5x Ultimate Rewards points on travel purchased through Chase Travel; 5x points on Lyft purchases (through March 31, 2025); 3x points on dining, select streaming services and online groceries; and 2x on all other travel purchases.

The Chase Sapphire Preferred card also offers many benefits, including a $50 annual Chase Travel hotel credit, flexible point redemption options, and fantastic travel insurance coverage, which includes best-in-class primary car rental insurance.

For a limited time, eligible new applicants can earn an impressive 100,000 bonus points after spending $5,000 within the first 3 months of opening. According to the Chase Sapphire Preferred card’s welcome offer history, this marks its most generous bonus to date.

Hot Tip:

Chase also imposes a 48-month rule on Chase Sapphire welcome offers. The rule states that you’re not eligible to receive a welcome offer on the Chase Sapphire Preferred card or the Chase Sapphire Reserve^® if you’ve already received one within the past 48 months.

Ink Business Preferred^® Credit Card

Terms Apply / Rates & Fees

Ink Business Preferred^® Credit Card

U.P. Rating

The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.

Apply Now(at Chase's secure site)

Ink Business Preferred^® Credit Card

The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.

Welcome OfferEarn 90k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $900 cash back or $1,125 toward travel when redeemed through Chase Travel℠.
90,000 points

UP's Offer Valuation*:
$1,800

Annual Fee

$95

APR

20.24% - 26.24% Variable

Credit Recommended

Good to Excellent (670-850)

Why We Like This Card

The Ink Business Preferred^® Credit Card is a powerhouse for earning lots of points from your business purchases, especially for business owners that spend regularly on ads.

Plus the card offers flexible redemption options, including access to Chase airline and hotel transfer partners where you can achieve outsized value.

Business owners will also love the protections the card provides like excellent cell phone insurance, rental car insurance, purchase protection, and more.

Pros & Cons

Pros

3x Ultimate Rewards points per $1 on up to $150,000 in combined purchases on internet, cable and phone services, shipping expenses, travel, and ads purchased with search engines or social media sites
Cell phone protection
Purchase protection

Cons

No elite travel benefits like airport lounge access

Read Full Review

Card Highlights

Earn 90k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $900 cash back or $1,125 toward travel when redeemed through Chase Travel℠
Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
Points are worth 25% more when you redeem for travel through Chase Travel℠
Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
Member FDIC

Financial Snapshot

APR: 20.24% - 26.24% Variable
Foreign Transaction Fees: $0

Rewards Center

Chase Ultimate Rewards

The Ink Business Preferred card is another fantastic Chase Ultimate Rewards-earning card, particularly for business owners. It earns an astounding 3x points on up to $150,000 in combined purchases every account anniversary year on shipping, advertising purchases made with social media sites and search engines, internet, cable, and phone services, and travel.

The Ink Business Preferred card also offers numerous benefits, including primary rental car insurance and cell phone protection.

The current public offer for the Ink Business Preferred card is: Earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months.

Although that’s an excellent welcome bonus, Chase sometimes rolls out even higher offers. Last year, I snagged the 120,000-point welcome bonus, so I always suggest taking advantage of these limited-time deals when available.

Ink Business Cash^® Credit Card

Terms Apply / Rates & Fees

Ink Business Cash^® Credit Card

U.P. Rating

This card offers great rewards and no annual fee. Any new business owner that needs to get going will enjoy this card.

Apply Now(at Chase's secure site)

Ink Business Cash^® Credit Card

This card offers great rewards and no annual fee. Any new business owner that needs to get going will enjoy this card.

Welcome OfferEarn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening.
Up to $750

UP's Offer Valuation*:
Up to $750

Annual Fee

APR

0% intro APR on purchases for 12 months; 17.49% - 25.49% variable thereafter.

Credit Recommended

Good to Excellent (670-850)

Why We Like This Card

The Ink Business Cash^® Credit Card has a lot going for it that makes it a compelling choice for small business owners. The card features a very lucrative 5% back on up to $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services each account anniversary year.

When you factor in that the card has no annual fee, and 0% intro APR on purchases for 12 months; variable 17.49% - 25.49% thereafter, you could be adding big value back into your business for no cost out of pocket.

Pros & Cons

Pros

Earn 5% back on up to $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services each account anniversary year
Earn 2% back on up to $25,000 spent in combined purchases at gas stations and restaurants, and 1% back on all other purchases
Travel insurance and purchase protection

Cons

Spending caps in bonus categories
Low points earning outside of bonus categories

Read Full Review

Card Highlights

Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening
Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
No Annual Fee
Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards^®.
0% introductory APR for 12 months on purchases
Member FDIC

Financial Snapshot

APR: 0% intro APR on purchases for 12 months; 17.49% - 25.49% variable thereafter.
Foreign Transaction Fees: 3% of each transaction in U.S. dollars

Rewards Center

Chase Ultimate Rewards

The Ink Business Cash card is a powerhouse for rewards-earning potential and a great choice for many small business owners. It earns 5% cash-back (in the form of Ultimate Rewards points) on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year, as well as 2% cash-back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.

However, the Ink Business Cash card’s most impressive feature might just be its $0 annual fee, as few cards can provide this much value for no annual fee.

The current public offer for the Ink Business Cash card is: Earn $350 when you spend $3,000 in the first 3 months and an additional $400 when you spend $6,000 on purchases in the first 6 months.

Last fall, I strategically applied for the Ink Business Cash card when it was offering a $900 cash welcome offer (90,000 Ultimate Rewards points), which comes around periodically. Best of all, it was for the exact same total spending requirements as the standard welcome bonus.

Ink Business Unlimited^® Credit Card

Terms Apply / Rates & Fees

Ink Business Unlimited^® Credit Card

U.P. Rating

The Ink Business Unlimited card is a stellar option for business owners looking for a no-fuss uncapped 1.5% cash-back card without an annual fee.

Apply Now(at Chase's secure site)

Ink Business Unlimited^® Credit Card

The Ink Business Unlimited card is a stellar option for business owners looking for a no-fuss uncapped 1.5% cash-back card without an annual fee.

Welcome OfferEarn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
$750

UP's Offer Valuation*:
$750

Annual Fee

APR

0% intro APR on purchases for 12 months; variable 17.49% - 23.49% thereafter

Credit Recommended

Good to Excellent (670-850)

Why We Like This Card

As a business owner, you likely keep pretty busy and probably prefer a credit card that just keeps things simple.

If so, the Ink Business Unlimited^® Credit Card might be just the card for you. From zero annual fee to a flat cash-back rate, the card is a no-frills option that you don’t have to think twice about.

Don’t forget too, 0% intro APR on purchases for 12 months; variable 17.49% - 23.49% thereafter

Pros & Cons

Pros

1.5% cash-back on all purchases
No annual fee
0% intro APR on purchases for 12 months; variable 17.49% - 23.49% thereafter

Cons

3% foreign transaction fee

Read Full Review

Card Highlights

Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
Earn unlimited 1.5% cash back on every purchase made for your business
No Annual Fee
Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards^®.
Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
0% introductory APR for 12 months on purchases
Member FDIC

Financial Snapshot

APR: 0% intro APR on purchases for 12 months; variable 17.49% - 23.49% thereafter
Foreign Transaction Fees: 3% of each transaction in U.S. dollars

Rewards Center

Chase Ultimate Rewards

The Ink Business Unlimited card is another excellent card for business owners looking for a simplified earning structure. It earns an unlimited 1.5% cash-back on every purchase made for your business.

Additionally, the Ink Business Unlimited card has a $0 annual fee.

The current public offer for the Ink Business Unlimited card is: Earn $750 cash back after spending $6,000 on purchases in the first 3 months

I applied for this welcome offer last year as well, but a few weeks later, the public welcome bonus offer was increased to a $900 cash bonus (90,000 points). I contacted Chase customer service to see if they could match my welcome bonus offer to the elevated public offer, and they did.

Bottom Line:

Timing my card applications around elevated welcome offers has helped me earn Ultimate Rewards points faster. By spacing them out, I’ve also given myself enough time to comfortably meet spending requirements before the next limited-time welcome bonus offer came along.

Maximizing Card Spending

In addition to the 4 new Chase credit cards I obtained this year, I maximized my rewards-earning potential by strategically matching cards with specific purchases. That allowed me to max out category bonuses for additional rewards on everyday spending.

For example, my biggest expense is dining at restaurants, where I typically spend over $2,000 monthly. I make sure to use my Chase Sapphire Preferred card, which earns me 3x points.

Collectively, I earned close to 100,000 points on spending across all 4 cards within a year.

Chase Sapphire Preferred Upgraded Points sunglasses — The Chase Sapphire Preferred card is fantastic for dining purchases. Image Credit: Upgraded Points

Credit Card Referrals

Another way to earn many Chase Ultimate Rewards points is to leverage credit card referrals. Most major card issuers offer referral programs, where you can earn points for each person you refer who is approved for a specific card.

Most of my friends and family understand how points and miles work and come to me when it’s time to open a new card. I refer them to a card I recommend and earn points for doing so.

I usually make several referrals every year, which result in thousands of more points, bringing my balance to that half a million mark. Even better, Chase recently raised the annual capacity of the Chase Sapphire Preferred card referral bonus to 100,000 points per year, making it possible to earn more than ever before.

How Much Are 500,000 Chase Points Worth?

We value Chase Ultimate Rewards points at 2 cents apiece, which is among the highest of any transferable points currency. Having 500,000 of them would equate to roughly $10,000 in value for travel redemptions.

However, the points can be worth much more (or less) depending on how you redeem them. Fortunately, there are numerous ways to redeem Chase Ultimate Rewards points, including using them for gift cards or statement credits, shopping with points, and booking travel through Chase Travel.

However, the absolute best way to redeem Chase Ultimate Rewards points is by transferring them to transfer partners. Fortunately, Chase has a long list of airline and hotel transfer partners that provide amazing value.

Final Thoughts

In a relatively short time frame, I accumulated half a million Chase Ultimate Rewards points. I earned most of the points by strategically applying for elevated welcome bonus offers on several popular Chase personal and business credit cards, which have been key to scoring long-haul business class flights and stays at the most luxurious hotels worldwide.