Earn 2,000 bonus points on your biggest household expenses right now
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By now, most of you are probably looking for ways to earn more miles while stuck at home. If you’ve already planned how you’ll max out the 5x category bonus on the Chase Freedom® card (No longer open to new applicants) this quarter, there may be another option for you. The Chase Freedom Unlimited is offering up to 2,000 bonus points on $250 in combined purchases across some of the most common spending categories:
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The information for the Chase Freedom has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
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How it works
The catch with this offer is that you must be targeted (check your email) and register for this offer before using your card. You have until Sept. 30, 2020, to activate and take advantage of this bonus. Chances are most of you can easily spend $250 across these five categories over the next five months. So if you were targeted, you should go ahead and set the Freedom Unlimited as your default payment method for these monthly bills.
What’s interesting is that the email specifically promotes this offer as “2,000 rewards points.” That’s because the Chase Freedom Unlimited is actually a cash-back card. If you have another Ultimate Rewards-earning credit card, like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, then you can convert your cash-back rewards to Ultimate Rewards points. So my guess is that this offer may be targeted toward Chase Freedom Unlimited cardholders who also have an Ultimate Rewards-earning credit card, though it could just be targeted wording for this specific cardholder group.
Related Reading: TPG readers’ best tips for maximizing points and miles
Why this is a great offer
The Chase Freedom Unlimited normally earns 1.5% cash back (or 1.5 Ultimate Rewards points per dollar spent). That already makes it my go-to card for non-bonus spending. At 2,000 points for $250 spent, you’re earning a whopping 8 points per dollar spent. Since TPG values Ultimate Rewards points at 2 cents each, that becomes a 16 cent return on every dollar. That’s an incredible return on non-bonus category spending, so if you’ve been targeted for this offer, you should activate it and take advantage.
What you can do with 2,000 Ultimate Rewards points
While 2,000 Ultimate Rewards points are worth around $40, the real value comes down to how you end redeem your points. Some of you have been sharing that you’ve redeemed points for statement credits at a rate of 1 cent per point. That’s perfectly understandable, considering the financial strain the novel coronavirus crisis has created.
If you transfer these points to your Chase Sapphire Reserve card, you can redeem them for $30 worth of travel through the Ultimate Rewards travel portal. That’s not exactly an option right now, but it can certainly come in handy down the road.
Hands down, the best way to get maximum value out of these points is by transferring them to airline and hotel partners once things go back to normal. And while 2,000 points may not sound like a lot, they can go a long way. I’ve personally booked round-trip Southwest Airlines awards that cost ~$90 for around 2,100 points. That’s a value of well over 4 cents per point.
Related Reading: Best credit cards for streaming services
While 2,000 bonus points aren’t earth-shattering, this is a nice way for Chase Freedom cardholders to earn even more points on spending on household bills that don’t typically earn bonus points beyond the standard rate. Between the category bonuses offered by the Chase Freedom card this quarter and now this 2,000-point bonus from the Unlimited, you’ve got plenty of opportunities to maximize essential spending while in self-isolation.
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Welcome to The Points Guy!
WELCOME OFFER: 80,000 Points
TPG'S BONUS VALUATION*: $1,650
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.