Earn up to 75,000 Bonus Points When Closing a Mortgage With Chase
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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:
|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 (No longer open to new applicants)||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.
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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