Get 100,000 Ultimate Rewards Points When Buying a Chase Mortgage
Update: This offer is no longer available.
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:
- Will these points be transferable to Ultimate Rewards partners? Yes. The 100,000 points will be deposited into your credit card UR account and can be transferred to partners or spent on travel.
- Is this offer available for refinances or home equity loans? No. This offer is only for customers purchasing a home.
- Is there a minimum mortgage principal amount? No minimum principal balance is tied to this particular offer.
- Will maintaining your mortgage keep your Ultimate Rewards account active if you close your Chase Sapphire Preferred/Reserve? No. As the points will be transferred to your Sapphire card, these points will be tied to the expiration policies of these cards.
- Does this offer combine with the current $595 cash back offer from Chase Mortgage? Yes. If customers enroll in automatic mortgage payments from a Chase checking account and select paperless mortgage statements, new homeowners can also earn this $595 cash back offer in addition to the UR bonus.
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.
What do you think about the new offer?
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.