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Update: Some offers mentioned below are no longer available.

If you’re applying for a mortgage any time in the near future, you may want to take a look at Chase. The bank has just launched a lucrative bonus for certain cardholders who close a mortgage with them.

Customers with either an Ultimate Rewards or United personal credit card can earn extra Ultimate Rewards points or United miles after closing on a mortgage with the bank. The bonuses break down as follows:

Card Bonus TPG Value
Chase Sapphire Reserve 75,000 Ultimate Rewards Points $1500
Chase Sapphire Preferred Card 50,000 Ultimate Rewards Points $1,000
Chase Sapphire 50,000 Ultimate Rewards Points $1,000
Chase Freedom 25,000 Ultimate Rewards Points $525
Chase Freedom Unlimited 25,000 Ultimate Rewards Points $525
Chase United MileagePlus Club Card 75,000 United Miles $1050
Chase MileagePlus Explorer Card 50,000 United Miles $700

The bank has run similar promotions in the past, such as last year when Sapphire cardholders could earn 100,000 bonus points for financing a new home. While the bonus this time around is lower than before, it’s nice to see that Chase has opened it up to more customers. The promotion ends August 31, 2018.

Those 75,000 points that Chase Sapphire Reserve cardholders can earn through this offer are nearly enough to fly round-trip in business class to Europe when booking through Korean Air SkyPass — you’d need just 5,000 more points to have the 80,000 Ultimate Rewards required for the trip.

Fly in Air France business class to Europe for just 80,000 miles round-trip when booking through Korean Air SkyPass.

Unfortunately it appears that this offer isn’t stackable — if you have two or more of the mentioned cards, you’ll only be able to get one bonus. Chase confirmed with TPG that you can also earn $500 cashback on top of the bonus points or miles.

Chase Private Clients also receive additional discounts when purchasing a mortgage:

  • 0.125% discount with more than $250,000 in Chase deposits and investment accounts
  • 0.25% discount with more than $1,000,000 in Chase deposits and investment accounts

While this is certainly a nice bonus, definitely make sure you shop around for the best mortgage rate. If you receive a higher interest rate at Chase than you could have gotten elsewhere, it would easily negate the value of any extra points received. But if you find that Chase has the best rates and mortgage terms for your situation and you hold an eligible credit card, this is definitely a deal worth taking advantage of.

Featured photo by Jesse Roberts/Unsplash.

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2018 TPG Award Winner: Mid-Tier Card of the Year
Chase Sapphire Preferred® Card

NEW INCREASED OFFER: 60,000 Points

TPG'S BONUS VALUATION*: $1,200

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.

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More Things to Know
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 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, 60,000 points are worth $750 toward travel
Intro APR on Purchases
N/A
Regular APR
18.24% - 25.24% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent/Good

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