In our last post Chase Ultimate Rewards, we went over our favorite points program and how it works. What we didn’t cover is the how to get a quick start on your points earning: The Sign Up Bonus!
Travel rewards credit cards offer signup bonuses to entice new applicants. What the signup bonus gives you, should you obtain it, is hundreds of dollars worth of travel rewards points in a short period of time. With the signup bonus you can earn the same amount of points in a couple of months that you would normally earn in a year or more. So, let me introduce you to the four Chase travel rewards credit cards and their respective signup bonuses.
Right now, Chase Freedom is offering 15,000 points ($150 cash back) for spending $500 on purchases in your first 3 months from account opening, and you can earn another 2,500 points ($25 cash back) by adding an authorized user and that user makes a purchase within the same 3-month period.
That’s a quick and easy 17,500 points ($175 cash back) within 3 months.
Chase Freedom Unlimited
Don’t get this card confused with the aforementioned Chase Freedom. Chase Freedom Unlimited is the latest card to the Chase rewards party. This card is offering 15,000 points ($150 cash back) for spending $500 on purchases in your first 3 months from account opening, and you can earn an additional 2,500 points ($25 cash back) by adding an authorized user and that user makes a purchase within the same 3-month period.
Here’s another 17,500 points ($175 cash back) that can be easily acquired.
Chase Sapphire Preferred
You can call the Chase Sapphire Preferred the flagship card of the Chase rewards lineup, and the signup bonus is astounding compared to the others. This card also gives 20% off travel redemption through Chase Ultimate Rewards, which I will point out the benefit.
For spending $4,000 on purchases in the first 3 months from account opening you will earn 50,000 points ($500 cash back or $625 towards Ultimate Rewards travel redemptions). By adding an authorized user that makes a purchase in the same 3-month period, you will receive another 5,000 points ($50 cash back or $62.50 towards Ultimate Rewards travel redemptions).
The total bonus points you can earn within 3 months with this card is 55,000 points ($550 cash back or $687.50 towards Ultimate Rewards travel redemptions).
When adding all the signup bonuses from these cards you end up with 90,000 points ($900 cash back), and if you transfer all your points to your Chase Sapphire Preferred account that’s $1,125 towards Ultimate Rewards travel redemptions.
Before you apply, you must know that if you have applied for 5 or more credit cards accounts (from any bank) in the last 24 months, it is very unlikely that Chase will approve you for any of the three cards. So, you may have to wait some time before applying but it’s well worth it.
If you can apply for Chase rewards credit cards, I recommend you do it one at a time so that you give yourself an easier time obtaining the signup bonus.
Now, if 90,000 points is not enough for you. You can also apply for one of the two Chase business cards.
Chase Ink Cash
The Chase Ink Cash card will give you 20,000 points ($200 cash back) for spending $3,000 in the first 3 months after account opening.
Chase Ink Plus
Chase Ink Plus will give you 60,000 points ($600 cash back or $750 towards Ultimate Rewards travel redemptions) for spending $5,000 in the first 3 months after account opening.
If you decide to apply for Chase Ink Cash along with the three personal cards you can earn a grand total of 110,000 points ($1,100 cash back), and if you transfer all your points to your Chase Sapphire Preferred account that’s $1,375 towards Ultimate Rewards travel redemptions. That’s right you can transfer from your business account to your personal account.
If you decide to apply for Chase Ink Plus, you can earn a grand total of 150,000 points ($1,500 cash back or $1,875 towards Ultimate Rewards travel redemptions). Chase Ink Plus gives 20% off on travel redemption through Chase Ultimate Rewards, so transfer to Sapphire Preferred is unnecessary.
Note that you can only apply for one of the business cards, and you will need a business EIN, or you can apply using your SSN if you are a sole proprietor.
If you ask me, I think it’s best to apply for the Chase Ink Cash card simply because there is no annual fee and you get the same travel redemption discount as Sapphire Preferred.
What to do with all those points?
You can get cash back, or go with my recommendation: travel! You can go on one big trip, or break it down to smaller trips. With 110,000 points you can book a round-trip flight to Tokyo and have points left over for a free night stay at a local hotel. With 150,000 points, you can invite a friend on your round-trip visit to Tokyo. Enjoy your points!
Which card will you apply for first? Where do you want to travel with all those points? Let us know in the comments below.