Chase announced today a new Ultimate Rewards points redemption option called Invest Your Points. You can redeem points into a J.P. Morgan Wealth Management account or a J.P. Morgan Self-Directed Investing account.
Points redemption rate is at 1 cent-per-point. You can always get 1 cent-per-point with a direct cash redemption (bank or statement credit), so there’s nothing too exciting here.
Some people might find it cool to fund an investment account with points and see how much long term wealth can grow from points usage alone. Note, if you have the Sapphire Reserve card, you’d do better to instead cash out with PYB at 1.2 or 1.25 cents per point and then use that money to fund the investment account.
(It does not appear that Roth accounts are eligible for Invest Your Points redemptions, and so the Roth IRA hack which people do with the Schwab AmEx Platinum won’t work here.)
