Chase has created the Fairmont Rewards system when it launched the Fairmont credit card.
Redemptions begin at 25,000 points for standard rooms at 'Collection A' hotels.
If you register for the promotion you will in effect earn 2 points per dollar spend. Not a great value and by no means makes me switch to Fairmont but if you are using this card for heavy spending (you shouldn't) – sign up for it.
You can register here.