Chase Ultimate Rewards and American Express Membership Rewards points see recent changes

Both Chase Ultimate Rewards and American Express Membership Rewards remain major transferable travel‑points programs, but recent adjustments have reduced their value for many users. Amex has lowered transfer ratios for Emirates Skywards and Cathay Pacific Asia Miles to 5:4 and altered the JetBlue conversion, while also dropping some partner benefits. Chase, meanwhile, has removed Emirates from its airline list and saw Hyatt raise hotel award rates, though its 1:1 transfer ratios to remaining partners remain unchanged.

For hotel redemptions, Chase points can be transferred at 1:1 to World of Hyatt, Marriott Bonvoy and IHG One Rewards, with instant transfers enabling quick bookings. Hyatt’s award chart still offers some of the best point‑per‑dollar values, especially at lower‑category properties, while Marriott’s dynamic pricing can lead to high‑cost redemptions. These shifts affect travelers who rely on points for airfare and hotel stays, prompting a re‑evaluation of which program best fits individual travel habits.