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Update 11:54am: Chase has reached out to clarify that Chase Sapphire cardholders are eligible in addition to Chase Sapphire Reserve and Chase Sapphire Preferred cardholders.
Chase made waves last fall with the spectacular 100,000-point offer on the brand-new Chase Sapphire Reserve card, which proved to be so popular that the bank temporarily ran out of the material to make the cards. Now, Chase is back again now with a new 100k offer: Through August 6, you’ll get 100,000 Ultimate Rewards points for closing a new mortgage through Chase Mortgage.
In a unique twist, this offer is only for Chase Sapphire Reserve, Chase Sapphire Preferred and Chase Sapphire cardholders. Chase stats show a rather amazing figure: More than half of Chase Sapphire Preferred/Reserve customers are millennials. And, while many millennials are jet setters, Chase research shows home ownership is still a top priority for this generation. So, the bank wants to keep the relationship going with these cardholders with this new bonus.
Chase reached out to give us an early heads-up about this new offer. And, we tried to ask all the questions you would have:
This 100,000-point bonus is equal to $1,500 of free travel for Reserve cardholders — or $1,250 for Preferred cardholders — when redeemed through the Chase travel portal. But, this should be seen as a baseline value. By transferring these Ultimate Rewards points to transfer partners, you can get much more value out of these points.
Bottom Line
We applaud Chase for thinking of an innovative way of standing out in the mortgage market. This is a particularly wise move to continue to connect with its huge, young contingent of Chase Sapphire customers.
A whopping $1,500 of travel expenses — or even more value when you transfer to UR partners — is a compelling bonus for signing up for a mortgage. And, it can get even better combined with Chase Mortgage’s $595 cash back offer.
Of course, a sign-up bonus isn’t the only important aspect to consider when you are getting a loan. Make sure that you’re not accepting a higher interest rate or worse terms for this up-front bonus. That said, if rates and terms are similar, Chase makes a strong case for your business with this offer.
Featured image courtesy of courtneyk via Getty Images.
Source: thepointsguy.com