It’s a good time to be a Chase cardholder. Here’s why
The Chase Freedom® credit card, Chase Ink Plus® Business Credit Card and Chase Sapphire® Card are no longer taking new applicants, although existing cardholders can still use the card. Those interested in these discontinued cards can check out other top Chase cards instead.
I woke up one day this October and my credit card issuer said, “Hello, if you wanted to book a hotel, we could give you $250 or more worth of travel back.”
The issuer was Chase, and the bank has recently announced a few limited-time offers on most of its cards. I ran to activate mine. I’ve covered this industry as a credit cards writer for five years, and it’s not every day that a credit card company offers a nice fat bonus to existing cardholders. And when it does happen — it’s usually Chase. No wonder Chase cards often appear on Bankrate’s best-of lists, as well as in our staff’s wallets.
Indeed, it’s a wonderful time to have (or apply for) a Chase credit card. Select cardholders can get hundreds of dollars in rewards or statement credits. The best part is, it doesn’t require much effort. Here’s what makes Chase cards such a great deal right now, as well as how the bank ensures both new and existing cardholders consistently get extra value out of their cards.
Bonus points — even for existing cardholders
The Chase Sapphire Preferred® Card recently announced a new limited-time welcome offer. Besides 60,000 points cardholders receive for spending $4,000 in the first three months, the card also provides a $300 Chase Travel℠ credit available in the first year with the card. This value easily offsets the $95 annual fee — more than three times.
But Chase doesn’t stop there.
The issuer also added limited-time offers on its other cards. For example, eligible cardholders who book for the first time on Chase Travel directly can earn 20,000 points on hotel purchases or 10,000 points on non-hotel purchases. To take advantage of this promotion, you need to activate this offer and book your travel by Jan. 31, 2025, and then travel by Aug. 31, 2025.
The language of the promotion states it’s for booking your “first trip”. However, if you read further, you’ll find the offer is actually valid for eligible cardmembers who haven’t booked with Chase Travel since Aug. 15, 2022. This applies to me. Indeed, I was able to activate the offer successfully on my Chase Sapphire Preferred even though I’d used the portal in the past.
Eligible credit cards include:
- Chase Freedom® credit card* (discontinued)
- Chase Freedom Unlimited®
- Chase Freedom Rise®*
- Chase Freedom Flex®*
- Chase Freedom® Student*
- Ink Business Cash® Credit Card
- Ink Business Preferred® Credit Card
- Ink Business Unlimited® Credit Card
- Chase Ink Plus® Business Credit Card* (discontinued)
- Chase Ink Business Premier® Credit Card
- Chase Sapphire® Card* (discontinued)
- Chase Sapphire Preferred® Card
- Chase Sapphire Reserve®
That means even if you have a Chase card without an annual fee, such as any of the Freedom cards, you can earn $100 or more worth of travel.
On top of that, Chase isn’t leaving current cardholders behind. Even if you’ve recently booked travel through the issuer’s portal, you may be eligible for a $100 statement credit or 10,000 points on hotel purchases booked through Chase Travel. All the same cards qualify.
Ryan Flanigan, credit cards writer at Bankrate, earned 10,000 points on his Chase Sapphire Reserve with this offer. Needless to say, he’s a big fan of the promotion.
We have an upcoming trip to Finland this winter and used Chase Travel to book our activities in order to maximize the bonus offers. We were able to save significant money compared to if we were to book on our own through our resort. The travel portal offered a ton of options of things to choose from, and was competitively priced. Whether it's airfare, lodging, activities or anything else, it's definitely worth looking into offers like these to potentially save a bunch of money.— Ryan Flanigan, Bankrate credit cards writer
Ongoing value that’s easy to get
It’s easy to be a Chase credit card fan these days. Besides a stellar rewards program, Chase cards continue to provide value well past the first year of card membership.
For example, let’s take a look at the Chase Sapphire Preferred. The card offers a $50 annual credit for booking hotels through the issuer’s portal. Chase Travel offers a wide selection of property options, from modestly priced to luxurious. That makes it easy to take advantage of the credit if you travel at least once a year. Courtney Mihocik, a senior credit cards editor at Bankrate, details how she’s taken advantage of this perk:
I've used the Chase Sapphire Preferred Card's benefits to get a $50 hotel credit in the past. I actually used it to book a hotel in another city right when Taylor Swift announced her Eras Tour dates. Right after I booked the hotel for $238, I saw the $50 credit posted in my account a couple days later.— Courtney Mihocik, Bankrate senior credit cards editor
The $300 annual travel credit on the Chase Sapphire Reserve is another good example of flexible statement credit benefits. It applies automatically to many types of travel purchases, from flights and hotels to everyday categories like public transportation, tolls and parking lots.
Many Chase cards also get limited-time offers allowing cardholders to get even more statement credits. These temporary benefits come and go, so there’s little reason to continuously rely on them to get value out of the card. Still, when such offers fit your spending habits, you can easily save money just by activating them.
For instance, until recently, eligible Chase cards offered a free period of Instacart+ membership and $15 monthly or quarterly credits on Instacart purchases — another perk Mihocik loved.
I use my Chase Sapphire Preferred Card almost religiously. I get extra points on online grocery orders — coupled with the $15 Instacart monthly statement credits the card offered, I was able to save a bit here and there when I didn't have time to hit the grocery store in person. I was able to save up a bunch of points and have been able to fund at least one domestic flight each year.— Courtney Mihocik, Bankrate senior credit cards editor
While you can no longer sign up for Instacart benefits, eligible Chase cards still provide a free account for DashPass, a DoorDash subscription. Terms vary depending on the card, and enrollment is required. Sapphire Reserve cardholders also receive a $5 monthly credit until Jan. 31, 2025. Unused credits can be rolled forward for up to two months (and up to $15 total) — which is somewhat rare to see. In most cases, when it comes to statement credits, you use it or lose it.
I’ve come to appreciate it when issuers make it simple for cardholders to maximize card perks. A perfect card benefit, in my opinion, is one that applies while you’re using your card as you always do. I don’t want to jump through hoops.
Chase is one of such issuers. Whether you’re a new or old cardholder, there are always opportunities to save money or earn credits.
Other card issuers and ongoing value
There are a few distinct ways issuers approach the matter of ongoing value outside of rewards. I put them in three categories:
- High extra value — high effort. American Express cards such as The Platinum Card® from American Express and the American Express® Gold Card belong here. You can receive hundreds of dollars in statement credits, but you’ll have to work for it. These benefits are branded and doled out, for the most part, in small monthly increments. They’re also permanent rather than limited-time offers, meaning you probably need to take advantage of them to offset annual fees.
- Solid extra value — medium effort. I’d put Chase in this group with its healthy mix of simple annual credits and valuable limited-time perks. Capital One is also here with the same.
- Low extra value — low effort. With these cards, what you see is what you get. Statement credits aren’t as prevalent, and limited-time offers — if they happen — are less exciting. Currently, I’d say Citi, Discover and Wells Fargo are in this category.
That’s not to say that any one category is better than the other. For some folks, maximizing the credits on the Amex Platinum is easy. Others might enjoy the challenge. Another group of cardholders might want the simplicity of “low-effort” cards. The rest, like me, are somewhere in the middle: we want to have a little bit of cake and eat a little bit of it, too.
The key here is to figure out which group you belong in and pick your credit cards accordingly.
The bottom line
If you’re a Chase cardholder planning to travel, this is a good time to see if you’re eligible for one of the new limited-time offers. If you want to be a Chase cardholder, it’s also a good time to apply. It’s nice to see a credit card issuer providing value to both old and new cardmembers, and I hope this will become more of a trend in the card space.
*Information about the Chase Freedom® credit card, Chase Ink Plus® Business Credit Card, Chase Sapphire® Card, Chase Freedom Rise®, Chase Freedom Flex® and Chase Freedom® Student has been collected independently by Bankrate. Card details have not been reviewed or approved by the issuer.
