If you hold the Freedom Flex as a standalone cash back card, you can redeem rewards at 1¢ per point for cash back or on travel purchases through the Ultimate Rewards Travel Portal, the same as its sister card the Chase Freedom Unlimited. However, if you also hold an Ultimate Rewards earning card that charges an annual fee, such as the Chase Sapphire Preferred Card or Chase Sapphire Reserve, you can combine points earned across all the Ultimate Rewards cards in your wallet, and redeem them for a higher fixed value in the Chase Travel Portal, or transfer them to one of Chase Ultimate Rewards' airline ort hotel transfer partners for potentially much more value. Chase travel partners include high-value options like United MileagePlus, Singapore Airlines Krisflyer, World of Hyatt, Virgin Atlantic Flying Club, and Southwest Rapid Rewards.