The easiest way to redeem Chase rewards is online, but you can also do that over the phone at (800) 432-3117. You can redeem Chase rewards for gift cards, travel and cash back. Chase points are generally worth 1 cent each regardless of what they’re redeemed for. If you’re redeeming for cash, you can also go to a Chase branch. You’ll get your money as a statement credit or as an electronic deposit to the bank account of your choice.
Here’s how to redeem Chase rewards:
Online: For online redemption, log in to your Chase account and go to the Chase rewards portal. From there, you’ll be able to book trips, buy gift cards, request statement credits, etc.
By phone: To redeem by phone, call Chase customer service at (800) 432-3117. Enter your account number to connect to a customer service representative. State that you want to redeem rewards.
At a Chase branch: You can request a statement credit or bank account deposit in exchange for your Chase rewards at any Chase branch. You just need your account number and a picture ID. But you won’t actually get cold hard cash on the spot.
Different Chase cards have different rewards programs. One card might give you the most rewards for travel, another for everyday purchases. So, you’ll want to pick a card with a reward structure that matches your lifestyle.
For all Chase cards in the Ultimate Rewards program, except Chase Freedom Flex℠ and Chase Freedom Unlimited®, you can also transfer Chase points to 13 airline and hotel loyalty programs at a 1:1 ratio. Whether or not that’s a good deal depends on the value of the loyalty program’s miles. Chase travel partners include United, British Airways, Southwest, IHG, Marriott and others.
Credit card reward redemption works a little differently for every issuer. But generally, you can redeem your rewards online or by calling your issuer’s customer service. Depending on your card, you may be able to redeem for travel, statement credits, paper checks, gift cards, merchandise and more. And you may get more value when redeeming for some things than others. The … read full answerChase Sapphire Reserve® card, for example, gives you 50% more value for your points when you redeem for travel.
Some credit card companies also have special rules and restrictions for reward redemption. For example, you might be required to earn a certain amount of rewards before you can redeem. Or you might have to redeem rewards in certain increments. In rare cases, like with the Costco Anywhere Visa® Card by Citi, you might even receive your earnings just once per year.
Given how much reward redemption procedures can vary from credit card to credit card, it’s good to read a card’s terms and conditions carefully before applying.
Here are the basics of credit card reward redemption:
Credit card users can usually redeem rewards for travel, cash back (check or statement credit), gift cards, merchandise and more.
Most credit card companies let customers redeem rewards online or over the phone.
Each credit card company has its own reward redemption rules. Rules may dictate when you can redeem rewards, for example.
Your credit card’s terms and conditions will include information about reward redemption. Be sure to read them in detail.
Some scammers attempt to pose as a credit card “reward redemption center” to get your credit card details. Don’t give personal information to unsolicited callers.
There is a common phone scam where someone claims to be from the “Reward Redemption Center.” If you get this call, hang up right away and block the number. Don’t give them any personal information. The caller is trying to commit fraud, not to give you any real reward. Here’s how the scam works: they say you have won a free gift card, but you need to pay for shipping to get it. They do this to get your credit card number, then use it for fraudulent purposes.
So, the bottom line is don’t trust anyone who calls saying they’re from the “Reward Redemption Center.” Your credit card issuer will never call you like this. And if you’ve earned rewards on your card, you can take care of reward redemption on your own. The only true way to redeem rewards you’ve earned is directly through your credit card company.
You can redeem Chase Freedom rewards from your account here. After logging into your account go to Ultimate Rewards in the top right corner. Here’s a quick overview of your options:
Cash – You can redeem for a statement credit or a direct deposit into a U.S. checking or savings account.… read full answer
Gift Cards – You can redeem for gift cards from most major retailers, including Lowes, Home Depot, Target, Amazon and Apple (iTunes).
“Shop with Points” – You can pay for purchases directly with points on Chase’s partner websites, including Amazon.com.
Travel – You can book airfare, hotel stays and rental car reservations with points through Chase’s Ultimate Rewards website. You can learn more about your redemption options from WalletHub’s review of the Chase Ultimate Rewards program.
Your Chase Freedom points don’t expire. The only way you can lose them is if you close your account (or Chase does it for you because of missed bill payments). That applies to all Chase rewards cards, by the way. But even though you can keep your Chase Freedom points indefinitely, it’s still a good idea to redeem them often. You don’t want to forget to use them, and you do want to avoid rewards devauation. But before getting into devaluation, let’s cover the specifics of point loss. Chase gives five different conditions where this can happen.… read full answer
These are the reasons you might lose Chase Freedom Points:
You close your own account without redeeming them
Chase closes your account because you
Abused the reward system
Failed to pay even your minimum payment
So, you have to basically be doing something really wrong to lose your points. Otherwise, you can accumulate as many as you want. But it’s best for you to redeem your points frequently. Because the rewards aren’t proper cash back, it’s possible for Chase to devalue them. For example, they could say that rather than 1 cent per point, the new rate is 0.8 cents per point, and you’d suddenly have 20% less value. So it’s always best to be careful and redeem often.
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