You can now invest Chase points directly into a J.P. Morgan account thanks to Invest Your Points, the newest Ultimate Rewards redemption option announced September 16, 2026.
On paper it sounds like a wealth-building unlock for your points balance. In practice, it pays a flat 1 cent per point, which is the same rate as plain cash back. Chase is offering flexibility here, not extra value.
How Invest Your Points Works
The option lives in the Chase app and on Chase.com inside your card’s rewards hub, listed under Convert to Cash alongside cash back and Pay Yourself Back. From there, Chase walks you through linking an eligible J.P. Morgan account. Points convert to cash at a penny apiece, the money lands in the investment account, and you choose what to buy based on your own goals and risk tolerance. J.P. Morgan Self-Directed Investing includes commission-free online trades on thousands of stocks, ETFs, mutual funds, and treasuries, so even smaller redemptions won’t get eaten up by trading fees.
Two fine-print notes before you get excited. Eligible accounts include general taxable investment accounts, UTMA accounts, and trust accounts, either self-directed or managed with a J.P. Morgan advisor. Retirement accounts are excluded entirely, so traditional and Roth IRAs do not qualify. That means the popular workaround people run with the Amex Schwab Platinum, cashing points into a brokerage and funneling the money toward retirement goals, doesn’t fully translate here. And even on the taxable side, Schwab pays Amex cardholders 1.1 cents per point. Chase pays a flat penny.
Which Cards Qualify
Every card that earns Ultimate Rewards is eligible: the full Sapphire, Freedom, and Ink lineups, including the Sapphire Reserve for Business. If your card earns Ultimate Rewards, you’ll see the option in your portal. There’s no minimum balance requirement on the points side, though you’ll need an open, eligible J.P. Morgan account before you can redeem.
The Math: Why a Penny Per Point Falls Short
Here’s the core problem. You can already redeem Ultimate Rewards for cash back or a statement credit at 1 cent per point, so Chase isn’t offering any bonus or incentive for investing them this way. Pay Yourself Back frequently beats it too, with current offers paying up to 1.25 cents per point against select charges on the Sapphire Reserve.
Meanwhile, Ultimate Rewards points are worth far more when redeemed strategically for travel, typically around 2 cents each via airline and hotel transfer partners. By that math, 100,000 points could be worth about $2,000 toward travel, double the $1,000 you’d get investing them. Even inside Chase’s own portal, Points Boost redemptions reach up to 1.75 cents per point on the Sapphire Preferred and Ink Business Preferred and up to 2 cents on the Sapphire Reserve.
The smarter play for most people: use your Ultimate Rewards points for travel, and invest the cash you saved on the trip instead. Same portfolio contribution, and your points work twice as hard getting there.
Who Should Skip This
If you travel even once or twice a year, skip it. A single well-timed transfer partner redemption will outvalue an entire year of penny-per-point investing. You should also skip it if you don’t already bank or invest with J.P. Morgan, since opening a new account just to redeem points at the same rate as a statement credit adds friction for zero upside.
The narrow case where it works: you genuinely never travel, you already invest with J.P. Morgan Self-Directed Investing, and the automation of points flowing straight into your portfolio is worth more to you than squeezing out extra value. That’s a real person, but it’s not most Ultimate Rewards cardholders.
The Bottom Line
More redemption options are always nice to have, and investing Chase points could make sense if you’d rather build a portfolio than book a flight. But at 1 cent per point, it’s not an attractive return. Unless your points are gathering dust with no trip on the horizon, you’ll almost always come out ahead transferring them to a Chase travel partner or redeeming through Points Boost, then investing the cash you didn’t spend.or using them for travel redemptions.
Best Offers
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Chase Sapphire Preferred® Card
Welcome Offer 75,000 bonus points
- Transferable points
- $100 hotel credit
Annual fee $95 Learn More -
Atmos™ Rewards Ascent Visa Signature® Credit Card
Limited-time online offer – 50,000 bonus points plus a $99 Companion Fare
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Capital One Venture Rewards Credit Card
Welcome Offer Earn 75,000 miles
- 2x on everything
- 15+ transfer partners
Annual fee $95 Learn More -
Chase Sapphire Reserve®
Welcome Offer 100,000 bonus points
- Lounge access
- $300 travel credit
Annual fee $795 Learn More
Welcome offers are subject to change. Valid as of September 19, 2026. Terms apply. See footer for advertiser disclosure.
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