I'm not sure about that. We have no idea of knowing what Chase pays the airlines to transfer a point to a mileage program, but the airlines themselves likely account for the fact that some percentage of the miles get transferred and then forgotten. There are likely people out there who transfer the miles into their FFPs even though they don't need to use them immediately, let them sit, and let them expire. This could mean that Chase doesn't have to pay the airline as much for each mile created with a UR point, because the airline's accounting counts on the fact that not all miles actually get used. UR points, on the other hand, when redeemed through the UR portal, are guaranteed to be cashed out.