Chase Ultimate Rewards holds 14 transfer partners at 1:1 in 2026: ten airline programs and four hotel programs. The program has not added a transfer partner in the 2025-2026 cycle and has not lost one. The 1:1 transfer ratio is preserved across every partner, with no penalty ratios and no conversion fees. The structural design of Chase Ultimate Rewards remains a curated narrower set of transfer partners than American Express Membership Rewards, with the strategic justification that the partners on the Chase list cover the highest-value redemption corridors.
The 2026 program read is that the load-bearing transfer cases are concentrated in three corridors: World of Hyatt for hotels, United MileagePlus and Air Canada Aeroplan for Star Alliance premium-cabin redemptions, and the Avios family (British Airways, Iberia, Aer Lingus) for short-haul European and transatlantic redemptions on partner-operated routes. The other partners are situational rather than strategic.
The 14-partner list
The full transfer partner list in 2026 is:
Airlines (ten): United MileagePlus (the load-bearing Star Alliance partner case), Air Canada Aeroplan (the secondary Star Alliance case, particularly strong on the distance-based award chart for transpacific routes), Air France-KLM Flying Blue (SkyTeam access, with strong intra-European and transatlantic Promo Rewards), British Airways Executive Club Avios (oneworld access plus the BA short-haul European program), Iberia Plus Avios (transatlantic to Madrid and the broader Iberia network), Aer Lingus AerClub Avios (transatlantic business class with the New York-Dublin sweet spot), Singapore Airlines KrisFlyer (SQ Suites and Star Alliance partner space, with the caveat that transfers can take up to 48 hours), Emirates Skywards (Emirates premium cabin, structurally the weakest of the airline transfers due to Skywards devaluation), Southwest Rapid Rewards (the U.S. domestic Southwest case), and JetBlue TrueBlue (the U.S. domestic JetBlue case).
Hotels (four): World of Hyatt (the load-bearing hotel case), Marriott Bonvoy (the broad-portfolio hotel case at 1:1), IHG One Rewards (the IHG portfolio case), and Wyndham Rewards (the Wyndham portfolio case, structurally narrow value).
All transfers are 1:1, in 1,000-point increments, with no transfer fees. Most transfers process instantly. Singapore Airlines KrisFlyer is the slowest in the network at up to 48 hours; Emirates Skywards can also take longer than instant.
The Hyatt transfer case
The World of Hyatt transfer is the single most discussed Chase Ultimate Rewards redemption corridor and is the load-bearing hotel case for the program. The structural reason is that Hyatt’s award chart prices low-end properties at 3,500 to 6,500 points per night (Category 1 to 2), mid-tier properties at 8,000 to 18,000 points per night (Category 3 to 4), and luxury properties at 25,000 to 45,000 points per night (Category 7 to 8).
A representative Hyatt redemption math: a Park Hyatt Maldives stay at Category 8 prices at 40,000 to 45,000 points per night standard; the equivalent paid rate runs $1,200 to $1,800 per night peak. The per-point yield is between 2.7 and 4.5 cents per point. By comparison, the Chase travel-portal redemption value on the Sapphire Reserve is 1.5 cents per point. The Hyatt transfer is structurally between 1.8 and 3.0 times more valuable than the travel-portal redemption on a per-point basis at the Hyatt sweet-spot properties.
The Marriott Bonvoy transfer at 1:1 is structurally underpriced relative to the Hyatt transfer. Marriott’s award chart prices low-end properties at 5,000 to 10,000 points per night, mid-tier at 17,500 to 35,000 points per night, and luxury at 60,000 to 100,000 points per night. The per-point yield on Marriott awards is structurally below Hyatt. The Marriott transfer is rarely the optimal Chase hotel redemption.
The airline transfer cases
The United MileagePlus transfer is the load-bearing Star Alliance partner case. The MileagePlus chart prices Star Alliance partner business class to Europe at 88,000 to 110,000 miles one-way (Lufthansa, Swiss, Austrian, LOT, Brussels); first class on ANA Tokyo to New York runs 121,000 miles one-way for partner award space. The per-point yield on premium-cabin Star Alliance partner redemptions is between 4 and 7 cents per point.
The Air Canada Aeroplan transfer is the secondary Star Alliance case. Aeroplan runs a distance-based award chart that is structurally favorable on the longer Star Alliance partner routes (transpacific in particular). Aeroplan business class on ANA Tokyo to Toronto is 75,000 miles one-way on partner award space, materially below the MileagePlus equivalent.
The Avios family transfers (BA, Iberia, Aer Lingus) are the short-haul European and transatlantic case. British Airways short-haul European flights price at 4,750 Avios one-way at the lowest distance band; the New York-Madrid Iberia business class redemption prices at 34,000 Avios one-way off-peak; the New York-Dublin Aer Lingus business class redemption prices at 60,000 Avios round-trip off-peak. The structural advantage of the Avios family is the ability to transfer to whichever sub-program has the better award price for a specific route and date.
The Singapore Airlines KrisFlyer transfer is the SQ Suites and First Class case. KrisFlyer prices SQ Suites at 132,000 miles one-way for the Singapore-New York Saver redemption (when partner space is available), which is structurally the only access path to the SQ Suites cabin on award space. The 48-hour transfer processing is the operational caveat.
The 2026 strategic read
The 2026 strategic read for the Chase Ultimate Rewards holder is that the program’s value concentrates in four corridors: Hyatt for hotels, United MileagePlus for Star Alliance premium-cabin space, Air Canada Aeroplan for distance-based Star Alliance redemptions, and the Avios family for short-haul European and transatlantic redemptions. The other partners on the 14-partner list are situational.
For the dual-program holder running Chase Ultimate Rewards alongside Amex Membership Rewards, the structural division is that Chase carries the Hyatt redemption case and the United premium-cabin case; Amex carries the Delta, ANA Mileage Club, Cathay Asia Miles, and Etihad cases. The two programs combined cover substantially all the high-value redemption corridors in the U.S. market.
The 2026 program is structurally stable. The 14-partner list has been unchanged for multiple program cycles. The 1:1 transfer ratio is preserved across every partner. Periodic transfer bonuses (most commonly to Flying Blue, Iberia, and Marriott) continue to run on the historical cadence; transfer bonus windows are the optimal time to move points rather than baseline 1:1 transfer. The program direction reads as preserved structural advantage rather than expansion.