Yes, you can redeem your Ultimate Rewards points for cash or statement credits, but your ability to do so will depend on which Chase card you used to earn them. Currently, points earned via the Sapphire travel cards, Freedom cash-back cards, and Ink business cards can be redeemed for cash at a rate of one cent per point. Yet, using Chase’s cash-like “Pay Yourself Back” feature, you can redeem points to pay off eligible purchases made in the past 90 days. Redemption rates vary by card with this method, but you'll earn a minimum of 1.1 cent per point.