You can now redeem Chase Ultimate Rewards points directly for gift cards at a 10%-15% discount. That said, if you have a card that lets you transfer points to airline miles, you should still prioritize transferring to miles or redeeming for travel at a value of 1.25 cents per point. If you only like cash-like redemptions, redeeming for gift cards could be a way to get a little more value. The full discount list is below.

The following gift cards are discounted by 10%

  • Apple
  • Ruth’s Chris
  • Zaxby’s
  • PetSmart
  • MGM
  • Seasons Greetings choice card
  • Panda
  • Nordstrom Rack
  • Let’s Eat choice card
  • Under Armour
  • Domino’s
  • Athleta
  • Brinker
  • Chili’s
  • On the Border
  • Academy
  • Maggiano’s

The following gift cards are discounted by 15%

  • Macy's
  • Lowe's
  • Bath & Body
  • Fandango
  • Fanatics
  • Boscov’s
  • SpaFinder