According to The Points Guy, on January 5, 2012, Chase Ultimate Rewards will be adding Southwest to its list of transfer partners. The points will transfer at a 1:1 ratio. And these points can be used on any Southwest flight. The number of points you will need to redeem for a flight will depend on the fare class that book. You will get:
- 1.67 cents per mile if you’re redeeming for a Wanna Get Away fare
- 1 cent per mile if you’re redeeming for an Anytime fare
- .83 cents per mile if you’re redeeming for a Business Select fare
These points will not count towards the Companion Pass. If you want to read more about this, check out The Points Guy’s post about it.
I am becoming a huge fan of the Chase Ultimate Rewards program. We’ve had a card with this program for many years now. I didn’t understand the value of these points until recently (we used to redeem for cash back ). As Chase expands the number of partner airlines, these points become more and more valuable. As much as I hate that Chase seems to be cornering the market on co-branded airline credit card, it may actually help them expand the number of partner airlines in the Chase Ultimate Rewards program.
Another great feature of the Chase Ultimate Rewards program is that you can transfer your points to anyone! Most programs will allow you to only transfer to cardholder accounts. The fact that you can transfer to non-cardholder accounts is a huge benefit. This means that you could top off accounts for family and friends.
If you don’t have a Chase credit card with Ultimate Rewards, you might want to look into it. I would suggest looking into both the Chase Freedom and Chase Sapphire card. I talked about how you can transfer between the accounts in another post.
Why would you want both cards? The Chase Freedom card does not have an annual fee. However, it does not allow you to transfer Ultimate Rewards points to airlines. But it does have special bonus categories every quarter where you can earn 5 points for every dollar spent up to $1,500 spent. The categories change every quarter. The Chase Sapphire card has a $95 annual fee. The current offer waives that for the first year. The Chase Sapphire allows you to transfer points to partner airlines. So you can earn points using your Chase Freedom card and then transfer them to our Chase Sapphire Ultimate Rewards account and then on to partner airlines.
The best current offer that I know of for Chase Freedom card is $300 cash back after you spend $500 on the card in the first 3 months. The best current offer that I know of for the Chase Sapphire card is 50,000 point bonus after you spend $3,000 in the first 3 months.
You can also get the Chase Ink Bold card if you have a business (it also participates in the Ultimate Rewards program). The best offer that I know of for that is a 50,000 point bonus after you spend $5,000 in the first 3 months.
The above is my personal opinion. I do not receive kickbacks of any kind from any company. You need to decide what is best for you and your credit.