You Can Now Invest Credit Card Points—But is it Great Value?

September 20, 2026 | Written by: Sophie Keller

Invest Credit Card Points

Chase Ultimate Rewards points have always been super flexible. You can redeem them for travel, cash back, statement credits, gift cards and more. Now, Chase has added an interesting new option: investing your points. It just introduced an “Invest Your Points” feature, allowing eligible cardholders to convert Ultimate Rewards points into cash deposited into an eligible J.P. Morgan investment account. While this may make it easier for some to put rewards toward long-term financial goals, the redemption rate means you should compare it with your other options first. Points and miles folks are likely to get better value by redeeming Chase points for travel. Let's look at this new way to invest credit card points and how it works.

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How to Invest Credit Card Points

The new feature is available to eligible cardholders earning Ultimate Rewards through the Chase Freedom, Ink and Sapphire card families. However, you must have an eligible J.P. Morgan investment account to use it. Cardholders can redeem Ultimate Rewards points at a rate of 1 cent per point:

1,000 points = $10
10,000 points = $100
50,000 points = $500
100,000 points = $1,000

The money goes into an eligible J.P. Morgan investment account, where you can choose how to invest it based on your goals and risk tolerance. Eligible options include J.P. Morgan Self-Directed Investing accounts and taxable investment accounts managed with a J.P. Morgan advisor, according to Chase’s announcement. Self-directed investors can access the feature through Chase.com or the Chase mobile app. Navigate to your Ultimate Rewards account, select the option to redeem rewards, and look for “Invest Your Points.” Chase does not directly turn your points into a particular stock, exchange-traded fund or other security. After Chase converts the points into cash, you can select your investments.

Steps for Using the Feature

To invest credit card points, follow these instructions:

Open an eligible J.P. Morgan investment account.
Return to Ultimate Rewards and redeem your points.
Chase deposits the cash into your investment account, where it should become available to invest within three business days.

After Chase converts the points into cash, you can select your investments. Chase does not directly turn your points into a particular stock, exchange-traded fund or other security. Important note: The advertised offer below to earn up to a $1,000 cash bonus is a separate promotion for opening and funding an eligible J.P. Morgan Self-Directed Investing account with qualifying new money. Redeeming Ultimate Rewards points does not automatically earn this bonus. Eligibility requirements, funding thresholds and other terms apply.

Which Cards Are Eligible?

The feature is available to eligible cardholders who earn Ultimate Rewards through the Chase Freedom, Ink and Sapphire card families. This includes the cards listed below. Holding an eligible credit card is only part of the requirement to invest credit card points. You must also have an eligible J.P. Morgan investment account to use the Invest Your Points feature.

Is Investing Credit Card Points a Good Value?

This option is pretty much another form of cash back. Chase already allows cardholders to redeem Ultimate Rewards points for cash or statement credits at 1 cent each. That means the option to invest credit card points does not increase their value. It simply sends the money directly to an eligible J.P. Morgan investment account instead of your bank account or credit card statement. For example, you could:

Redeem 100,000 points for $1,000 deposited into an eligible investment account
Redeem 100,000 points for $1,000 cash back and invest that money yourself
Potentially redeem 100,000 points for more than $1,000 in travel

The first two choices provide the same cash value. The main benefit of Invest Your Points is convenience, especially if you already invest through J.P. Morgan and want a simple way to move your rewards directly into that account. If you are deciding among investing, cashing out or using your points for travel, our guide explains how to choose between using a travel portal, transferring points to partners or taking cash back.

What You Give Up by Investing Flexible Points

One of the biggest advantages of Ultimate Rewards is that they are flexible. Instead of earning rewards that can only be used with one airline or hotel program, you can decide how to use your Chase points when you are ready to redeem them. That flexibility gives you more options if award availability changes, one loyalty program raises its prices or another program offers a better deal.

Deciding to invest credit card points removes that flexibility. Once Chase converts the points into cash, you cannot reverse the transaction or transfer the money back into Ultimate Rewards points. This does not automatically make investing your points a bad decision. However, it means you should consider whether you may want those points for an upcoming trip before locking in a fixed value of 1 cent each.

Transferring to Partners Provides More Value

Transfer partners and award sweet spots can help you stretch your points further, with most airline and hotel partners easily providing more value than 1 cent per point. Another way to think about it: If 100,000 Ultimate Rewards points cover $2,000 in travel you otherwise would have paid cash for, you could invest the $2,000 you saved instead of converting the points into a $1,000 investment.

Here are some examples for how to use 100,000 Chase Ultimate Rewards. Remember: You do not need to use your points for luxury travel to receive value. You could use them to reduce the cost of flights to visit family, cover hotel stays, book a special trip or simply keep more cash available for your other financial goals.

Of course, every decision is personal. Choosing to invest credit card points may be a reasonable path if you already use an eligible J.P. Morgan investment account, do not plan to use the points for travel and are working toward meeting other financial goals. Not every redemption needs to produce the highest possible cents-per-point value. If sending the money directly to an investment account makes you more likely to invest it instead of spending it, the convenience may provide personal value beyond the redemption rate.

Should You Invest Credit Card Points?: ToP Thoughts

The new Invest Your Points feature adds even more flexibility for Ultimate Rewards. But it does not increase the value of your points. At 1 cent per point, it offers the same value as a standard cash-back redemption while directing the money into an eligible investment account. Before deciding to invest credit card points, compare this redemption option with transferring points to Chase's travel partners or booking through Chase Travel for options like The Edit. Using points for travel you would otherwise purchase may keep more cash in your budget, which you can then turn around and invest on your own. Have questions about this new option? Come share your thoughts in our ToP Facebook Group.

There’s a New Way to Invest Credit Card Points. But Is It a Good Value?