FinanceBuzz value calculation Year one earnings: $1,380 Year two earnings: $683 Year one earnings: $4,419 Year two earnings: $2,669 Annual fee $95 $ 895 Welcome bonus Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening As high as 175,000 Membership Rewards points after spending $12,000 on eligible purchases on your new card in the first 6 months (welcome offers vary and you may not be eligible for an offer; apply and find out your offer) Redemption methods Chase Ultimate Rewards points can be redeemed for travel, gift cards, experiences, or a statement credit.