How to Maximize Your Chase Ultimate Rewards Points

Redeeming credit card rewards for gift cards or travel can be exciting, especially if you have certain Chase credit cards. Popular Chase cards, like the Chase Sapphire Preferred® Card and Chase Freedom Unlimited®, are known for earning highly coveted Chase Ultimate Rewards® points.

These points are some of the most lucrative credit card rewards and have the potential to be worth 25% or 50% more value, depending on the card.

Whether you’ve been a Chase cardholder for a while or you’re new to Chase Ultimate Rewards (CUR), it’s important to know how you can get the most value out of your points.

To help you make sense of all your redemption options, we used first-person knowledge of Chase Ultimate Rewards to create an easy to follow guide that addresses common questions about the rewards program.

How to maximize Chase Ultimate Rewards

Which Chase credit cards earn Ultimate Rewards points?

Chase credit cards that earn Ultimate Rewards include:

How to earn Chase Ultimate Rewards points

There are three main ways you can earn Ultimate Rewards points: everyday spending, welcome bonuses and referral bonuses. Here’s how each option works:

Everyday spending

All Chase Ultimate Rewards cards earn points in some capacity. Even the Freedom cash-back cards accrue Ultimate Rewards points with cash value. The exact rewards rate you earn on everyday spending depends on the card.

For instance, the Sapphire Preferred earns 2X points on travel and dining worldwide and 1X points on all other purchases.

Meanwhile, the Freedom Flex earns 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 5% cash back on travel booked through the Chase Ultimate Rewards®, 3% cash back on dining and at drug stores and 1% cash back on all other purchases. (Check out the Chase Freedom cash-back calendar.)

Since the cash back you earn from the Freedom Flex card is accrued as Ultimate Rewards points, a $50 dining purchase at 3% cash back is equal to 150 points, or $1.50.

Welcome bonus

Currently all Ultimate Rewards cards offer a welcome bonus, which allows you to earn a large lump sum of points within the first three months from account opening.

The Sapphire cards tend to have the largest bonus offers with Preferred offering 60,000 points and Reserve providing 50,000 points. Both bonuses require you to spend $4,000 on purchases in the first three months from account opening.

The approximate value of both offers is $750 when you redeem for travel through Chase Ultimate Rewards or Pay Yourself Back feature, discussed more below.

Referral bonus

Another way to earn points is by referring friends to apply for the Chase card you have. Refer-a-friend bonuses allow you to earn upwards of $100 each time you refer someone for a credit card and they apply then get approved.

Chase continually offers a variety of referral bonuses that you can send out to friends and family multiple times. Here are some current offers:

  • Chase Freedom Flex and Chase Freedom Unlimited: Earn $100 cash back for each referral, up to $500 per year.
  • Chase Sapphire Preferred: Earn 15,000 bonus points for each referral, up to 75,000 bonus points per year.
  • Southwest Rapid Rewards® Plus Credit Card: Earn 10,000 bonus points for each referral, up to 50,000 bonus points per year.
  • Marriott Bonvoy Bold™ Credit Card and Marriott Bonvoy Boundless™ Credit Card: Earn 20,000 bonus points for each referral, up to 100,000 bonus points per year.

How to redeem Chase Ultimate Rewards points

What are Chase Ultimate Rewards points worth?

How to transfer Chase Ultimate Rewards points

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

Source Article

Next Post

Black engineers revolutionize take out amidst COVID-19

Wed Nov 11 , 2020
Lavii, Inc is simplifying everyday experiences through functional and solution based technology amid COVID-19 The second wave of COVID-19 cases is compounding the already dire financial forecast for the hospitality industry. While some bars and restaurants were benefiting from warmer summer weather by serving patrons outdoors or takeout orders from […]