If you have way more points than you could use in the next few years, what's the minimum cpp you'd redeem your chase points for? I'm looking to book a hotel where the cpp would only be ~1.23. In the past I've only used points when it's 1.5+, but I'm realizing that I will never use up all my points this way, so I'm leaning towards using the points now for this redemption. What do you do in similar situations?

Btw I don't use Chase points for flights very much, in general I'm not looking to book international J/F flights since availability is hard to come by and I'd much prefer travel whenever I want. I do have Amex/AA/AS miles for occasional flight redemptions.