Ultimate Rewards: Last Chance for Chase Ink Bold with 50,000 Points Bonus?

We just received notification that Chase will be updating their Ink Bold and Ink Cash cards.  Updating can mean a lot of things, but I’d guess that means that the hefty 50,000 Ultimate Rewards points may be ready to wish us a merry Christmas and move on. 

If you’re new to the Chase Ultimate Rewards program, it is Chase’s flexible rewards program that let’s you apply your points for any travel expenses that hit your statement, making them tremendously convenient to use.  And you don’t have to worry about taxes and fees that can be pretty hefty when you fly internationally since Ultimate Rewards points are applied to the entire cost.

Here are some of the detailed benefits

• Ultimate rewards points are worth 20% more when you use them to book travel through the Chase Travel site. (For the Chase Sapphire Preferred and Ink Bold)
• Points are fully transferrable to many large rewards programs including Continental and United.
• No restrictions and no blackout periods.  Use them against travel charges on your statement or use the Chase Travel site to book flights, rental cars or hotel rooms.
• Ultimate Rewards Mall – Get up to 12 points per dollar at places like Groupon, Kohl’s, Sears and Target when you access it through the Ultimate Rewards Mall website.  Essentially you’re getting up to 15% off when you consider that Ultimate Rewards points are worth 1.2 cents each.

What do you think of Ultimate rewards?

What program is your favorite and why?