This morning, MileCollector informed me of a Chase promotion that I was not previously aware of called Chase Picks Up the Tab. Granted this is not as lucrative as one of my favorite credit card promotions, American Express’ Small Business Saturday (registration is now live), it’s still worth mentioning if you have a Chase checking account and a Chase credit card or two (or 5).
If you’re a Chase banking customer with an eligible Chase credit card, you’ll have a chance to randomly have Chase “pick up the tab” on any charges through 12/31/2012, up to $150. There are a total of 10,944 prizes that will be given away, which breaks down to one winner approximately every five minutes. The only caveat is that there is no online or self-registration for this promotion. You must go into your local branch and ask a banker to enroll your accounts. You can find the full terms and conditions here.
My Experience/Chase Exclusives
While I have 5 Chase personal travel credit cards in my wallet at the moment, along with a Chase auto loan, ironically, I did not have a Chase checking account… until today. I’ve been putting off opening an account because… well, frankly I was just too lazy to do it… even though I always receive those tempting promotional coupons in the mail that give a $200 bonus for opening a new checking account.
Truthfully, it was never just the $200 bonus that attracted me to banking with Chase; instead, it was the Chase Exclusives package that caught my attention. For starters, Chase Exclusives allows Chase checking account customers to receive more rewards and benefits from other Chase products such as credit cards, loans, mortgages, etc. Naturally, one of the “benefits” that I’m attracted to is the ability to earn more points, of course.
Prior to November 11, 2012, if you were “grandfathered” in to Chase Exclusives by having a Chase Freedom and Chase checking account, you were able to earn an additional 10 Ultimate Rewards points per transaction in addition to the point(s) per dollar you’d normally earn. This was/is an extremely valuable benefit. To put it into perspective, a $1 water bottle would yield you 11 (1 for the $1 purchase + 10 for the bonus) Ultimate Rewards points. Not a bad gig for a small purchase.
Now if you’re like me, and you got bundled up in the Chase Exclusives program after November 11, 2012, the deal is not exactly as sweet… but it’s not bad either. No longer can you receive an additional 10 points per transaction using the Chase Freedom; instead, you’ll receive a 10% annual bonus on all points earned. In my eyes, 10% more points is better than 0% more points, so I’m happy. Also, if you’re a Chase Sapphire Preferred card holder as well, you’ll receive a 7% dividend on all Ultimate Rewards points earned using your Sapphire Preferred. Annual bonuses make this girl happy.
Now since the Chase Freedom is technically only a cash back card, in order for your Ultimate Rewards points to be transferred and redeemed for airline and hotel miles, you’ll have to use it in conjunction with the Sapphire Preferred. Ultimate Rewards points can be transferred and combined freely between those two accounts. Having a Chase Sapphire Preferred, a Chase Freedom, and a Chase checking account is a pretty lucrative power team points-wise, creating what they call the Chase “trifecta”. For those who are unfamiliar with what I’m talking about, I distinguish between the cards and go more into detail about the trifecta in this post here.
Now back to my experience… I decided that today was going to be the day killed two birds with one stone – open the account, enroll my cards in the promo, and walk out $200 richer. Ok, that’s three birds, but who’s counting. Sadly when I entered the Chase branch, the bankers were quite clueless about the promotion all together. At times I felt like I was the one doing the explaining, but in the end, I walked out with a paper confirming that I was enrolled, so my sweet talkin’ must have worked. Just kidding. Now, it’s fingers-crossed time for me.
Sure. If you’re already a Chase customer who happens to be at the bank and can spare a few minutes, then it’s definitely worth it. While I’m not necessarily counting on winning, the good old saying, “you can’t win it, if you’re not in it” is my flavor of the week.
Have you enrolled in this promotion yet? How has the Chase Exclusives program worked for you? I’d love to hear all kinds of feedback!
MegaDo post is next, I promise!
Until next time,