Chase has one of, if not the best travel rewards program of any credit card company. But travel is still getting back to normal because of the COVID-19 pandemic, so is now the right time to collect Chase Ultimate Rewards points?
If you’re interested in having some of the most valuable points on the market, the answer is yes. Even with travel restrictions, Chase has found plenty of ways to make its Ultimate Rewards points valuable.
1. You can use them to pay back everyday purchases through Sept. 30, 2021
In the early days of the pandemic, Chase made a fantastic addition to its Ultimate Rewards program. It’s called Pay Yourself Back, and it gives you more value for your points. The standard cash back rate for Chase points is $0.01 per point. Depending on your Chase credit card, you can get a 25% or 50% bonus when you redeem points as a statement credit toward the following types of purchases:
- Dining, including at restaurants, takeout orders, and orders through eligible delivery services
- Home improvement stores
- Donations to select charitable organizations
The bonus is available through Sept. 30, 2021, and you can redeem points toward purchases made in the last 90 days. It’s a convenient way to get a solid value for your points, even if you don’t use them for travel.
Your Chase card determines how much of a bonus you get. Here are the Chase rewards cards that offer a bonus and their respective bonus amounts:
2. Chase has an impressive roster of airline and hotel partners
One big reason Chase points are ideal for travel is that the card issuer has so many partners.
You can transfer Chase points to quite a few airlines’ frequent flyer programs. That includes major domestic carriers, like Southwest and United, and international carriers, like Singapore Airlines and Iberia. Once you’ve transferred points, you can book an award ticket with that airline.
When it comes to hotels, Chase partners with Hyatt, IHG, and Marriott Bonvoy. Hyatt, in particular, is known for offering great deals on stays booked in points.
Even if you’re not planning any trips right now, Chase points could save you a lot of money once you’re traveling again.
3. They’re perfect for a staycation
During the COVID-19 pandemic, some people have opted to scratch that travel itch a bit closer to home. If you feel like using credit card points for a staycation, Chase points could help.
One way to do this would be to transfer your points to a hotel chain that has a location nearby. Then, you could book an award stay.
That’s not your only option, though. There’s also the Chase Ultimate Rewards travel portal. You can make cash travel purchases using your points in the portal. Just like with the Pay Yourself Back program, points are worth either 25% or 50% more, depending on which Chase card you have.
There are all kinds of things you can book with Chase’s travel portal. For a staycation, the “Things You Can Do” section is a must see. It includes a wide variety of activities you’ll be able to pay for in points.
4. Chase credit cards have some of the best sign-up bonuses
Although Chase has valuable points, that’s really only half the battle for the best credit cards. It’s equally important that you have the opportunity to earn a large number of points. The more points you earn, the more money you can save.
Fortunately, this is another area where Chase cards excel. The card issuer has some of the top sign-up bonuses, so you could collect lots of bonus points in a matter of months.
The Chase Sapphire Preferred® Card is an excellent example. If you open that card and spend $4,000 on purchases in the first three months, you’ll get 100,000 bonus points. Since you get a 25% bonus through Chase’s travel portal and Pay Yourself Back, those 100,000 points are worth $1,250.
You can’t go wrong with Chase points, even if long trips aren’t an option. They’re easy to earn. Points can be used for everyday purchases or staycations. And you can always save your points and cash them in for an amazing vacation later.
View more information: https://www.fool.com/the-ascent/credit-cards/articles/4-good-reasons-to-collect-chase-points-during-the-pandemic/