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Update: This offer for the Citi Prestige® Card is expired. Learn more about the current offer here.
Through this promotion you can earn 10x points with the Chase Freedom for hotel and car rental bookings made until July 31, 2016, through the Chase Ultimate Rewards website.
You you can earn the 10x points on a total of up to $2,500 in combined hotel and car rental purchases during the month of July. Per the terms, you can travel anytime while taking advantage of this, though you need to make the purchase by July 31, 2016.
- Offer valid on purchases made July 1–31, 2016.
- Applies only to hotels and car rentals booked through ChaseUltimateRewards.com.
- Choose from more than 150,000 hotels—with recently lowered prices!
- Purchase in July. Travel anytime.
The Chase Freedom technically markets itself as being a cashback card, meaning 10x points really converts to 10% cashback. However, if you have the Chase Sapphire Preferred® Card or Ink Plus® Business Credit Card in conjunction with the Chase Freedom, then all those points can be redeemed as “premium” Ultimate Rewards points, and transferred to hotel and airline partners like British Airways Executive Club, Hyatt Gold Passport, Korean Air SkyPass, Singapore Airlines KrisFlyer, United MileagePlus, etc.
I value those points at ~1.7 cents each, meaning the return to me on this offer would be ~17% on my hotel and car rental spend.
That sounds amazing, but there’s a big thing to keep in mind. You generally won’t earn hotel or car rental loyalty program points if you book through a third party. So in the case of hotels, this means you’d be forgoing hotel points in order to earn the 10x Ultimate Rewards points.
In the case of hotels, I usually earn 3x points on hotel purchases using the Citi Prestige® Card, vs. the 10x points I’d earn on the Chase Freedom when booking through the Ultimate Rewards website. That means the difference is really 7x points, and at a value of 1.7 cents per point, that’s a difference in return of ~12%.
So everyone will have to crunch the numbers for themselves, though in general I’d say this is only really valuable if you’re staying at a hotel that isn’t part of a loyalty program, or if you’re not big into hotel loyalty programs. Even in those cases you’ll want to compare the bonus you earn here to what you’d earn through Rocketmiles.
For those who are points obsessed, I think you’ll typically come out ahead by using the actual loyalty program of the hotel or car rental company, rather than the 10x points earned through this offer.
Lastly, here are the full terms of the promotion:
During the promotional period of July 1 to July 31, 2016, earn an extra 9% cash back on up to $2,500 in combined hotel and car rental purchases made through Chase Ultimate Rewards® using your Chase Freedom card. The bonus cash back earned is in addition to the 1% cash back you earn on all purchases for a total of 10% cash back, which means you can earn up to $250 total cash back ($25 cash back plus your $225 bonus cash back). Bonus cash back will post to your account within a week of the transaction posting, and will appear on your monthly credit card billing statement and be available for use within 1-2 billing cycles. To qualify for this promotional offer, account must be open and not in default at the time of fulfillment. This promotional offer is non-transferable. For more information about your rewards program, see your Rewards Program Agreement.
This has the potential to be a very nice offer, though be sure you crunch the numbers based on your situation. As much as I’d love to earn 10x points on hotel and car rental spend, I’m not sure if it’s worth doing so at the expense of earning hotel or car rental points.
Could you see yourself taking advantage of this 10x points offer?
(Tip of the hat to Gaurav)