Chase Lets Cardholders Turn Rewards Points Into Investments

Chase cardholders can now turn their credit card points into cash to invest, giving Ultimate Rewards members a new way to put their rewards to work.

Many credit card points programs deliver immediate gratification to cardholders by enabling them to redeem their points for things such as cash back, discounts on travel purchases, and even merchandise.

But with Chase’s Invest Your Points program, cardholders can put the cash from their points to work in an attempt to help them build a more financially secure future.

“Cardmembers already have a lot of ways to use Ultimate Rewards, from travel to cash back, and every new option makes the program even more valuable,” Chris Reagan, President of Branded Cards at Chase, said in a press release. “Now, they can also put their rewards toward investing and their financial goals, in one connected digital experience.”

For personal cardholders, Chase’s Freedom and Sapphire cards are eligible to earn Ultimate Rewards points. And on the business side, people with a card belonging to the Ink portfolio can earn Ultimate Rewards points.

Customers with an eligible J.P. Morgan Self-Directed Investing account can access Invest Your Points through the Chase app or Chase.com. Chase says customers working with a J.P. Morgan advisor can also redeem points for cash to invest in an eligible taxable investment account.

How Much New Money Each Investing Bonus Requires

Source: J.P. Morgan Self-Directed Investing

Through the financial institution’s self-directed platform for investments, customers can make online trades of investment products including stocks and options.

Chase is separately offering eligible new Self-Directed Investing customers bonuses ranging from $50 to $1,000. The $1,000 bonus requires at least $250,000 in qualifying new money, while the lowest tier requires at least $5,000. Customers must meet additional funding and holding-period requirements.

Redeeming points for a sure thing like a gift card or a statement credit has the advantage of offering a predictable value that’s easy to understand. Investing in the stock market may provide a nice return over time, but it comes with the risk of loss.

Consider that, from 1995 to 2025, the nominal average annual return of the S&P 500 was approximately 9.8%, or 7.1% when making an adjustment for inflation. But that doesn’t mean that the market inched up steadily over that time frame.

Instead, investors in the S&P 500 had to weather downturns in the market that caused the value of their investment to drop, at least temporarily. As recently as 2022, the S&P 500 Index didn’t appreciate in value at all. Instead, it plummeted more than 18%.

0.0%9.8% Approximate nominal average annual return of the S&P 500 from 1995 to 2025

But people who didn’t pull their money out of an investment tracking the S&P 500 after the drop saw a total return of more than 26% in 2023.

Cardholders who are investing for the first time as a result of Chase’s Invest Your Points feature may want to familiarize themselves with a few basics before getting started.

The Financial Industry Regulatory Authority (FINRA) advises new investors to establish clear goals before putting money into the market. Those can include determining investment objectives and the timeframe one wants to invest for.

Other tips from FINRA include seeking education about the different types of investment vehicles out there and understanding the benefits of a diversified portfolio.