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Chase points are worth up to 50% more when redeeming for Apple products through November — but is it worth it?

Oct. 15, 2022
5 min read
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Chase has been one of the most agile credit issuers over the last couple of years, shifting bonus categories and offering new ways to redeem points, particularly with travel-focused cards such as the Chase Sapphire Reserve and Chase Sapphire Preferred Card.

And now, Chase is bringing back a points redemption offer where eligible cardholders can get up to 50% more value when purchasing any Apple product through Ultimate Rewards until Nov. 30, 2022.

Using Ultimate Rewards towards Apple purchases

Typically, redeeming Ultimate Rewards points for shopping — such as with Apple — gets you a flat 1 cent per point redemption rate. That’s not a great use of points, considering that TPG values Ultimate Rewards at 2 cents per point (largely thanks to Chase’s valuable travel transfer partners).

Details of the promotion

However, with an up to 50% bonus on eligible products, we start getting into a place where it may make sense to use your points towards Apple products.

Take the Chase Sapphire Reserve, for instance. With this card, you can get a 50% bonus redeeming for eligible Apple products. Alternatively, you’ll get the same 1.5 cents per point redemption rate when you book travel directly through Chase Ultimate Rewards. Likewise, with Pay Yourself Back, you’ll be able to offset Airbnb and dining purchases at a 1.5 cents-per-point elevated rate through Dec. 31, 2022.

CHASE.COM

Here is the breakdown of the limited-time Apple redemption rate for select Chase cards.

50% bonus redeeming for Apple products in the Apple® Ultimate Rewards® Store (1.5 cents per point)

The information for the J.P. Morgan Reserve has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

25% bonus redeeming for Apple products in the Apple® Ultimate Rewards® Store (1.25 cents per point)

10% bonus redeeming for Apple products in the Apple® Ultimate Rewards® Store (1.1 cents per point value)

The information for the Ink Plus, Ink Cash and Freedom cards 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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All of these offers are live through the Ultimate Rewards site, so you should see them automatically reflected when you place an order.

The elevated Apple redemption promotion runs from Oct. 15 through Nov. 30, 2022. This is perfect timing if you’re looking for a gift for the upcoming holidays.

Related: Why the new iPhone 14 Pro is a game changer for travelers

Should you use Chase points for Apple products?

If you have a large stash of Ultimate Rewards points, this limited-time promotion is an enticing way to stretch the value of your points and save some cash. But should you use your points this way?

TPG values Ultimate Rewards at 2 cents each, so all of these redemption options provide values below that. If you want to squeeze the most possible value out of your points, this isn’t how to do it.

Related: How to redeem Chase Ultimate Rewards points for maximum value

However, if you're not looking to book trips any time soon, using your points for Apple purchases could be enticing. Or maybe you've got a mountain of points, so this redemption won't mess up your travel plans. You could even be looking for a nice gift leading up to the holidays at the end of the year, or it could make sense if you've had your eye on an Apple product.

Normally, we don’t recommend these redemptions, since you would get just 1 cent per point in value. However, Sapphire Reserve holders who can get 1.5 cents apiece on their Ultimate Rewards points right now have a unique opportunity for a redemption.

And remember that you can combine Ultimate Rewards between accounts freely and instantly, so make sure to use whichever card will offer you the best value for these redemptions.

Bottom line

Through the end of November, eligible Chase cardmembers will be able to redeem Ultimate Rewards at a rate of 1.1 to 1.5 cents apiece on Apple products. These redemptions normally aren’t a good use of your points, but there are a few instances where it could make sense given the current promotion. Not every Chase credit card provides the maximum value of 1.5 cents per point, so this promotion is most valuable for those who have the Sapphire Reserve.

Additional reporting by Stella Shon, Juan Ruiz and Ryan Smith.

Featured image by ZHANG PENG/LIGHTROCKET VIA GETTY IMAGES
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.