Chase Ultimate Rewards® are a favorite points currency for a variety of reasons. First, Chase issues several credit cards that earn Ultimate Rewards® points — either directly or indirectly. Each of these cards offers compelling benefits and spending category bonuses.

When it comes to redeeming your Chase Ultimate Rewards® points, cardholders have options. You can redeem points for a statement credit at one cent each or use points for cash travel bookings at between one and 1.5 cents per point (depending on the card). However, the most valuable use of Ultimate Rewards® points can be transferring points to one of more than a dozen hotel and airline Chase transfer partners.

This flexibility makes the program stand out for points and miles nerds and beginners alike. Here's what you need to know about the best Chase transfer partners, plus tips and advice on how to earn Chase Ultimate Rewards® points quickly.

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The best Chase transfer partners

All of the current Chase transfer partners transfer at a rate of 1:1 from Ultimate Rewards®. Below are our rankings of the six best Chase transfer partners:

1. World of Hyatt

World of Hyatt is the only Chase hotel transfer partner that we recommend. Thanks to appealing hotels and a compact award chart, Hyatt is one of our favorite redemptions. Award nights start at just 3,500 points per night boosting the value of Hyatt points to 2.3 cents per point.

2. Air Canada Aeroplan

Chase's newest airline transfer partner is quite a valuable one. NerdWallet's analysis found that Aeroplan points are worth 1.4 cents each for economy awards. And that's the baseline value. You can redeem points for even more value through Aeroplan sweet spots like short-haul United flights for 6,000 points or flights to Hawaii starting at 12,500 points each way.

3. Air France/KLM Flying Blue

One great use of Flying Blue miles is their monthly promo awards. Every month, these promo awards offer select award flights for up to 50% off. NerdWallet's valuation estimates that Flying Blue miles are worth 1.2 cents each for economy awards.

4. Virgin Atlantic Flying Club

Flying Club points aren't generally valuable for Virgin Atlantic award flights. NerdWallet estimates Flying Club points are valued at 1.8 cents each for economy redemptions. Instead, the best uses of Flying Club points are redemptions on partner flights — which include Delta, ANA, Air France, KLM and Air New Zealand.

5. Southwest Airlines Rapid Rewards

Unlike the other best Chase transfer partners, Southwest Rapid Rewards points are redeemable at a fixed rate based on the cash price of a flight. That means you don't need to find award availability or check award charts. NerdWallet found that Southwest points are worth around 1.5 cents each for award flights on Southwest.

6. JetBlue TrueBlue

Like Southwest, JetBlue has no award chart and TrueBlue redemptions are tied to the cash price of the ticket. NerdWallet found JetBlue TrueBlue points are worth 1.5 cents per point.

Other partners worth considering

These next five Chase Ultimate Rewards® transfer partners can provide value as well, depending on what you’re looking for:

United Airlines MileagePlus

United miles can be valuable when redeeming for United Polaris or business class on partner airlines. However, NerdWallet finds United miles are only worth 1.2 cents. For inspiration on how to earn and use United miles, check out our complete guide to the United MileagePlus program.

Singapore Airlines KrisFlyer

Singapore recently increased rates for award flights on Singapore Airlines and its partners. Now, NerdWallet values KrisFlyer miles at 1.5 cents each. However, KrisFlyer sweet spots can still provide outsized value.

Emirates Skywards

NerdWallet values Skywards miles at 0.6 cent each for economy awards. Business class awards may have a better value. Check out our Emirates Skywards sweet spots to inspire you on how to use Emirates Skywards miles.

British Airways Executive Club

According to NerdWallet's valuation, British Airways Avios are worth 1 cent each. However, you can get much more value from niche redemptions on American Airlines — such as flights to the Caribbean and Bahamas from 7,500 Avios or flights to Hawaii from 13,000 Avios each way.

Iberia Plus

Like British Airways, Iberia Avios can be valuable in certain circumstances. The best Iberia Plus redemptions are on nonstop Iberia flights to Europe. During off-peak dates, you can book economy awards for as few as 17,000 Avios or business class for just 34,000 Avios.

Chase transfer partners to avoid

Aer Lingus AerClub: Like British Airways and Iberia, Aer Lingus uses an Avios program. However, you’ll generally find better value with one of those two programs. IHG One Rewards: At NerdWallet's valuations, IHG One Rewards points are worth 0.8 cent per point. That means you’ll often use fewer points if you book through the Chase Ultimate Rewards® travel portal.

Marriott Bonvoy: Like IHG, NerdWallet values Marriott Bonvoy points at 0.8 cent each. Again, you'll generally find better value by booking Marriott hotels through the Ultimate Rewards® portal.

Best ways to earn Chase points

Generally, the easiest and fastest way to earn a balance of Chase Ultimate Rewards® is through the welcome offers that come from the family of Chase credit cards.

Three cards allow you to transfer Ultimate Rewards® points directly to Chase’s travel partners:

Chase Sapphire Reserve®.

Chase Sapphire Preferred® Card.

Ink Business Preferred® Credit Card.

Although the card's welcome offer may be the initial draw, each Chase card offers category bonuses for ongoing spending. A few of our favorite examples include:

10 points per dollar spent on rental cars and hotels booked through the Chase Ultimate Rewards® portal or 3 points per dollar spent on other dining and travel with the Chase Sapphire Reserve®.

3 points per dollar spent on dining, online grocery purchases and select streaming services with the Chase Sapphire Preferred® Card.

3 points per dollar spent on travel, shipping, select advertising, internet, cable and phone services using the Ink Business Preferred® Credit Card — up to a combined $150,000 in spending each account year.

Additionally, Chase offers several cashback cards that savvy cardholders can use to boost their Ultimate Rewards® points. Cashback earnings can be converted to Ultimate Rewards® points if you have a Chase Ultimate Rewards®-earning credit card.

Here are examples of the best earning rates on Chase's slate of cashback cards:

5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining at restaurants and drugstores and 1.5% on all other purchases with the Chase Freedom Unlimited®.

5% cash back on rotating categories and travel purchased through Chase Ultimate Rewards® using the Chase Freedom Flex℠.

5% cash back on up to $25,000 in purchases each year at office supply stores and internet, cable and phone services with the Ink Business Cash® Credit Card.

1.5% cash back on all spending with the Ink Business Unlimited® Credit Card.

Redeeming through the Ultimate Rewards® portal

One benefit of Chase Ultimate Rewards® is the flexibility to redeem points for paid travel through the Ultimate Rewards® portal. Here are the redemption rates for each Chase Ultimate Rewards® card:

1 cent per point: Chase Freedom Flex℠, Chase Freedom Unlimited®, Ink Business Unlimited® Credit Card, Ink Business Cash® Credit Card.

1.25 cents per point: Chase Sapphire Preferred® Card, Ink Business Preferred® Credit Card.

1.5 cents per point: Chase Sapphire Reserve®.

If you have multiple Chase cards and plan to redeem your Ultimate Rewards® through the Ultimate Rewards® portal, make sure to combine your points onto the card that gives you the highest redemption rate.

If you want to transfer Chase points

Chase Ultimate Rewards® are some of the most valuable transferable points around. Cardholders can redeem points through high-value transfer partners or redeem points at a fixed rate through the Ultimate Rewards® portal.

However, not all Chase transfer partners are equal. NerdWallet's analysis found baseline valuations for Chase transfer partners range from 0.7 cents to 2.8 cents each.