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Chase Expands Reward Points for New Mortgages

The New York-based Chase has launched an offer for select Chase cardmembers to earn between 25,000 and 75,000 Ultimate Rewards points or MileagePlus miles when purchasing a home with Chase. Following an enthusiastic response from Sapphire customers last year, eligible Sapphire, Freedom, and United MileagePlus Club or Explorer cardmembers can earn Ultimate Rewards points or MileagePlus miles by purchasing a mortgage with Chase before August 31.

Customers can redeem their Ultimate Rewards points for just about anything from travel and gift cards at a variety of retailers, to cash back and other experiences. United cardmembers can redeem United MileagePlus miles a variety of ways, including travel, dining, shopping, and MileagePlus Exclusives, which provides program members with access to some of the world's best events and experiences. Last year, Chase designed the pilot offer specifically for millennials, given their strong relationship with the Chase Sapphire Reserve card, but this year Chase moved to open the program up to a larger audience. Freedom has the broadest customer base with a wide variety of backgrounds, incomes, and lifestyles.

To qualify, customers must be Sapphire, Freedom, and United MileagePlus Club or Explorer cardmembers before the closing of the mortgage. The offer applies to mortgages used to purchase a property, but not to refinances or home equity lines of credit.

With affordability as one of the top concerns for most homebuyers today, especially millennials/first-time homebuyers, the rewards offer can be combined with our other savings offers:

  • $500 cash back for enrolling in automatic mortgage payments with a Chase checking account and going paperless.
  • Up to $3,000 in grants and incentives to cover closing costs and down payment if they complete a homebuyer’s education course and purchase in a low- to moderate-income community.

“Last year’s offer reached many millennials, who are the fastest growing group of new homebuyers in the country,” said Amy Bonitatibus, Chief Marketing and Communications Officer for Chase Home Lending. “Now, a wider range of customers can earn rewards for getting a Chase mortgage.”

About Author: David Wharton

David Wharton, Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has nearly 20 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. He can be reached at [email protected].

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