Question
Apparently, Chase has launched a new credit card called the Chase Rewards Plus Mastercard. This card is different than the Chase Cash Plus Visa/Mastercard. This card offers 5 points per dollar at gas stations, drugstores, and grocery stores. Also, you can earn up to 75,000 points per year. It doesn't appear that the 5X points are limited to 1 year as the Citibank Diamond Preferred Card. Also, the advertisement says that you will get 5,000 bonus points after applying and completing your first purchase. I don't know exactly what the rewards structure is and there is no website I can find with any info but it does say you can redeem for air travel. Also, it says that the 5,000 bonus points can be used for a $50 gift card or for 1% cash back. This is better than the Diamond Preferred. Also, you get 0% APR for 12 months. The phone number to apply is 1-866-347-8534. Bonus Promotion code is XZD for the 5,000 bonus points.
Hopefully, someone has more information on the rewards but at face value if the rewards structure is anything liike the Diamond Preferred citibank card this could be a good value. Also, I am wonderring how long the points last (ie do they expire after 3 years, 4 years, 5 years, never, etc.).
Answer
Just to update, I have found out significantly more information about this program and it is even better than I thought. Here is a link to the brochure (http://creditcard.chase.com/xcards4/ccards/chase_rewardsplus_ch01/RewardsPlusBrochure.pdf) with all of the details about this card. Below I have summarized some of the rewards options.
You get 5 points per dollar on everyday spend (drugstore, gas stations, and supermarkets) and you get 1 point per dollar on all other purchases. There is a 75,000 point annual cap and points expire on a first earned first expired basis 60 months after earned.
Redemptions available:
Destinatations
10,000 points = $100 toward a non-air travel reward
18,500 points = $200 certificate on Carnival Cruise Lines or Royal Carribbean Cruiseline
Airlines
Generic
15,000 points = $150 airline ticket
25,000 points = ticket anywhere in Continental US (Cap $400)
45,000 points = ticket from Continental US to Canada, Alaska, Hawaii, Mexico, and Carribbean (Cap $600)
50,000 points = ticket to Europe (Cap $800)
75,000 points = ticket to Asia, South America, or Central America (Cap $1000)
90,000 points = ticket to any destination not covered above
The above tickets require a 21 day in advance booking
Continental Airlines
10,000 points = 5,000 Continental OnePass miles
20,000 points = 10,000 Continental OnePass miles
22,000 points = ticket anywhere in continental US
30,000 points = ticket to Carribbean
35,000 points = ticket to Mexico or Central America
40,000 points = ticket to Hawaii
45,000 points = ticket to Europe or South America
55,000 points = ticket to Asia/Micronesia
United Airlines
6,000 points = a certificate that can be redeemed for 5,000 United Mileage Plus Miles
12,000 points = a certificate that can be redeemed for 10,000 United Mileage Plus Miles
30,000 points = a certificate that can be redeemed for 25,000 United Mileage Plus Miles
British Airways
20,000 points = 10,000 British Airways miles
Cashback rewards
3500 points = $25 Cash
6000 points = $50 Cash
10,000 points = $100 Cash
Gift Certificates
3000 points = $25 gift certificate
5000 points = $50 gift certificate
10,000 points = $100 gift certificate
So essentially on everyday spend (drugstores, gas stations, and supermarkets) for no annual fee you can earn either 4.166 United Miles or 2.5 Continental miles. The catch is you can't redeem for more than 25,000 Continental Miles in a year, or more than 100,000 United Miles in a year. Still not bad though with all of the flexibility and much better than the Cash Plus card currently offered if you ask me between the 60 month expiration versus 36 month expiration, the 75,000 annual cap versus the 30,000 annual cap, and the fact that you have a vast array of choices rather than just cash or gift certificates yet can still get 5% cashback makes this card far more valuable in my opinion.
Answer
I like this card because you can actually transfer real miles into a FF account, unlike the citbank cards that simply allow you to buy a ticket with thier points. Once you transfer for FF miles, you dont have to worry about them expiring either. I think I am going to sign up for it.
Answer
Differnce between Visa vs Mastercard Version of the same card.
Visa
60K point limit a year
No transfer to Continental OnePass, United Airlines or British Airways
5000 points is $50 cash check.
Mastercard
75K point limit a year
Can transfer miles into Continental OnePass miles , United Airlines or British Airways at a great rate if you only use your card at 5% places.
6000 points is $50 cash check.
"A service fee of up to $25.00 may be charged for the use of Reward
Headquarters services for point redemption." Now here is the kicker on there VISA card I never been charged a redemtion fee I have redem over 10 $50 checks in last 6 months.
I dont know BA and Continental OnePass miles at 2.5 miles per $1 spent at all the 5% places seem like a good deal to me. And 4miles on United per dollar spent at 5% places seem super hot to me.
Answer
Does anyone have a link to this card. I can not find it on Chases website.
Answer
I already have too many cards from Chase. Maybe I can get them to convert one to this. UA miles at a good rate for no annual fee. (I already have the 2 UA mile per dollar free Visa, but that's not a decent return at all compared to other cards I've been using.) I suppose if I can get them to convert I won't get any bonus points, but still seems worthwhile. We'll see.