It’s back and this time, it may make more sense for some people. I am talking about the offer from Chase that lets you redeem your points for extra value when purchasing Apple products through Chase. However, it is not for everyone so we will break that down in a minute.
Chase Cardmembers Redeem for Up to 50% More Value When Buying Apple
Chase has seen people redeeming their points for way more than just travel since the beginning of the Covid-19 situation. Thanks to things like Pay Yourself Back, Chase cardholders are able to get increased value when they use their Chase points to wipe out purchases from various categories.
Now, we have the return of a different redemption offer and that is for Apple products. In case you did not know, you can purchase Apple products directly through the Chase portal and you can use your Chase points to do that. On a regular day, that is definitely not the way to go since you would only get 1 point per cent in value on the redemption. But, from November 1 – 30, 2021, Chase cardholders can get increased redemption value, depending on the card you use the points from. Here is how that breaks down:
- Chase Freedom, Freedom Unlimited Freedom Flex, and Freedom Student – Cardholders get an extra 10% in redemption value when redeemed for Apple products through the Ultimate Rewards portal
- Chase Sapphire Reserve – Cardholders get an extra 50% in redemption value when redeemed for Apple products through the Ultimate Rewards portal
- Chase Sapphire Preferred – Cardholders get an extra 25% in redemption value when redeemed for Apple products through the Ultimate Rewards portal
- Chase Ink Business Cash, Ink Cash, and Ink Business Unlimited – Cardholders get an extra 10% in redemption value when redeemed for Apple products through the Ultimate Rewards portal
- Chase Ink Business Preferred and Ink Plus – Cardholders get an extra 25% in redemption value when redeemed for Apple products through the Ultimate Rewards portal
- Chase JP Morgan Reserve – Cardholders get an extra 50% in redemption value when redeemed for Apple products through the Ultimate Rewards portal
Should You Do This?
If you do not have travel on your mind right now and you have a healthy amount of Chase points, you may be interested in this offer. However, there are a few things you should be aware of. First of all – if you have a Chase Sapphire Reserve, move the points from any of your other cards over to your Chase Sapphire Reserve. This will insure that you get the maximum value (50% extra) when redeeming your points.
Next is to think of this – this is not a Pay Yourself Back category. So, you will not actually be spending money by spending points at the increased value. If you want to do this, sign in on your Chase account and go to your Ultimate Rewards portal to start shopping.
Why You SHOULDN’T Do This
First of all is that there could be a delay on many items. For instance, when selecting some products, I can get them from Apple right now. Chase says there will be a 3-5 week timeframe to receive it. This is because it is not a real-time transaction that is occurring as you redeem your points with Chase and then Chase actually purchases the iPad on your behalf.
The next reason is about sales. Rarely does Apple ever offer a discount directly through their site (unless you are able to use the education portal with Apple). This means you will always pay full price. But, there are almost always deals you can get on Apple gear. For example, right now, you can get up to $250 off the awesome MacBook Pro with the M1 processor that came out last year. The same is true for many pieces of Apple gear. You can shop at Best Buy or Amazon and almost always get a better price than direct from Apple.
Speaking of Best Buy and Amazon, that gives us reason #3 – rewards through them. With Best Buy, you cannot earn reward points on Apple purchases but you can redeem Best Buy reward certificates for Apple products. So, if you have accrued Best Buy reward points, you can cash them in for an Apple device. With Amazon, you can earn 5% back if you have the Amazon Prime credit card or use one of the many discount deals available with other credit card reward programs.
Lastly, you get the points you would earn when buying an Apple product with a credit card. For example, I earn 3X points on my American Express Business Gold card for purchases from a computer store. That is like getting a 5% return, based on my valuation of Membership Reward points.
Bottom Line
I will not be using my Chase points for this, even though I do buy Apple products. The reasons are the ones I have listed above. However, if you want/need some new Apple product and you want to pay as little cash as possible (you can pay up to 80% of your purchase through the Chase portal with a card), this could be a nice way to go while you get the increased redemption value.
