Chase Ultimate Rewards Program Agreement: What You Need to Know
If you`re a Chase cardholder, you may already be familiar with the Ultimate Rewards program. This loyalty program allows you to earn points on purchases, which can then be redeemed for travel, merchandise, or cash back. However, before you start racking up points, it`s important to understand the terms and conditions of the program. Here`s what you need to know about the Chase Ultimate Rewards program agreement.
One of the main benefits of the Chase Ultimate Rewards program is the ability to earn points on purchases. The amount of points you earn depends on the card you have and the category of purchase. For example, the Chase Sapphire Preferred card offers 2x points on travel and dining, while the Chase Freedom card offers 5% cash back on rotating categories. It`s important to note that not all purchases will earn points, such as balance transfers, cash advances, and fees.
Once you`ve earned enough points, you can redeem them for a variety of rewards. The Chase Ultimate Rewards program allows you to redeem points for travel (flights, hotels, rental cars), merchandise (electronics, jewelry, clothing), or cash back. The value of each point varies depending on the redemption option. For example, if you book travel through the Chase Ultimate Rewards portal, each point is worth 1.25 cents. However, if you opt for cash back, each point is worth only 1 cent.
Another unique feature of the Chase Ultimate Rewards program is the ability to transfer points to other loyalty programs. For example, you can transfer points to airline or hotel loyalty programs, such as United MileagePlus or Marriott Bonvoy, at a 1:1 ratio. This can be a great way to maximize the value of your points, especially if you`re a frequent traveler.
Terms and Conditions
Like any loyalty program, the Chase Ultimate Rewards program has its own set of terms and conditions. Here are a few key points to keep in mind:
- Points don`t expire as long as your account remains open and in good standing.
- Only the primary cardholder can redeem points, although authorized users can earn points.
- Points can`t be transferred between accounts or combined with other Chase rewards programs.
- Chase reserves the right to cancel or modify the program at any time.
- Points may be forfeited if your account is closed for any reason.
The Chase Ultimate Rewards program can be a great way to earn rewards on your everyday spending. However, it`s important to understand the terms and conditions of the program before you start earning and redeeming points. By knowing the rules, you can maximize the value of your rewards and avoid any surprises down the road.
Published by: davefletcher