Recently, Southwest suddenly, and with no notice, devalued their Rapid Rewards points by 6%. While not super drastic, it’s still a surprising move.

Ultimate Rewards, the rewards currency of various Chase credit cards, transfer to nine airline loyalty programs...

Aer Lingus

British Airways

Iberia

Korean Air

Singapore Airlines

Southwest Airlines

United Airlines

Virgin Atlantic

Flying Blue (Air France, KLM)

...and three hotel programs.

Hyatt Gold Passport
IHG
Marriott Rewards

As of August 25, you can cross Korean Air off of that list.
How bad is this?
First Class flyers to Asia are probably pretty pissed off.

Transferable points are points you earn from a credit card that you can transfer to many different types of airline miles or other points. They are valuable because they give you so much flexibility. Each airline program has strengths and weaknesses in terms of the number of miles you need and the availability from point A to point B.

In February, my parents flew down to South America to join me for a trip in Rio de Janiero, followed by a week spent in Buenos Aires, the location I call home for at least half the year.

I booked them in United Business between Charleston, SC and Rio de Janiero using United miles, and LATAM Business between Buenos Aires and Miami using American Airlines miles.

This is the final post in a series about how to maximize value when transferring your Chase Ultimate Rewards to airline loyalty program partners. 
Maximizing Your Ultimate Rewards Series Index

Maximizing Ultimate Rewards: United MileagePlus
Maximizing Ultimate Rewards: Singapore Krisflyer #1
Maximizing Ultimate Rewards: Singapore Krisflyer #2 
Maximizing Ultimate Rewards: Korean SkyPass #1
Maximizing Ultimate Rewards: Korean Skypass #2
Maximizing Ultimate Rewards: Korean Skypass #3
Maximizing Ultimate Rewards: British Airways Avios 
Maximizing Ultimate Rewards: Flying Blue
Maximizing Ultimate Rewards: Virgin Atlantic Flying Club #1
Maximizing Ultimate Rewards: Virgin Atlantic Flying Club #2
Maximizing Ultimate Rewards: Southwest Rapid Rewards
Maximizing Ultimate

This post is part eleven of a series about how to maximize value when transferring your Chase Ultimate Rewards to loyalty program partners. 
Maximizing Your Ultimate Rewards Series Index

Maximizing Ultimate Rewards: United MileagePlus
Maximizing Ultimate Rewards: Singapore Krisflyer #1
Maximizing Ultimate Rewards: Singapore Krisflyer #2 
Maximizing Ultimate Rewards: Korean SkyPass #1
Maximizing Ultimate Rewards: Korean Skypass #2
Maximizing Ultimate Rewards: Korean Skypass #3
Maximizing Ultimate Rewards: British Airways Avios 
Maximizing Ultimate Rewards: Flying Blue
Maximizing Ultimate Rewards: Virgin Atlantic Flying Club #1
Maximizing Ultimate Rewards: Virgin Atlantic Flying Club #2
Maximizing Ultimate Rewards: Southwest Rapid Rewards (this post)
Maximizing

This post is part ten of a series about how to maximize value when transferring your Chase Ultimate Rewards to loyalty program partners. 
Maximizing Your Ultimate Rewards Series Index

Maximizing Ultimate Rewards: United MileagePlus
Maximizing Ultimate Rewards: Singapore Krisflyer #1
Maximizing Ultimate Rewards: Singapore Krisflyer #2 
Maximizing Ultimate Rewards: Korean SkyPass #1
Maximizing Ultimate Rewards: Korean Skypass #2
Maximizing Ultimate Rewards: Korean Skypass #3
Maximizing Ultimate Rewards: British Airways Avios 
Maximizing Ultimate Rewards: Flying Blue
Maximizing Ultimate Rewards: Virgin Atlantic Flying Club #1
Maximizing Ultimate Rewards: Virgin Atlantic Flying Club #2 (this post)
Maximizing Ultimate Rewards: Southwest Rapid Rewards (future

This post is part nine of a series about how to maximize value when transferring your Chase Ultimate Rewards to loyalty program partners. 
Maximizing Your Ultimate Rewards Series Index

Maximizing Ultimate Rewards: United MileagePlus
Maximizing Ultimate Rewards: Singapore Krisflyer #1
Maximizing Ultimate Rewards: Singapore Krisflyer #2 
Maximizing Ultimate Rewards: Korean SkyPass #1
Maximizing Ultimate Rewards: Korean Skypass #2
Maximizing Ultimate Rewards: Korean Skypass #3
Maximizing Ultimate Rewards: British Airways Avios 
Maximizing Ultimate Rewards: Flying Blue
Maximizing Ultimate Rewards: Virgin Atlantic Flying Club #1(this post)
Maximizing Ultimate Rewards: Virgin Atlantic Flying Club #2 (future post)
Maximizing Ultimate Rewards: Southwest Rapid

This post is part eight of a series about how to maximize value when transferring your Chase Ultimate Rewards to loyalty program partners. 
Maximizing Your Ultimate Rewards