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Reminder: The 20% Ultimate Rewards Bonus for Combining Chase Checking Account with Credit Card Is Still Valid

A reader just asked me this week whether Chase is still offering at least a 10% Ultimate Rewards bonus (and it can be much more) for having a Chase Checking account and a Chase Freedom credit card.

The answer is yes (details here): In short, if you have a Chase personal checking account and a Chase Freedom card, you’ll earn 1 bonus point for every $10 you spend on the card PLUS 10 points for every purchase. And if you have a Chase Sapphire Preferred card, those Freedom points can be transferred into Ultimate Rewards. Solid deal. (Editor’s Note: I originally wrote that this was a 20% bonus. It’s not — it could be more, could be less, depending on the value of your average purchase. IE, if your average purchase is $50, then you’ll get 5 bonus points + 10 bonus points, equaling 15 bonus points, or a 30% bonus).

A similar offer is available for Chase business checking account holders — they can earn a 20% Ultimate Rewards bonus on their credit card spend if they have the Chase Business Ink Bold® Charge Card card (you’ll earn 25,000 points after first purchase, then an additional 25k points after $10,000 in spend in 3 months) through the Chase Exclusives for Business program.

You’ll likely be giving up some interest from the highest earning accounts out there, so make do the math and make sure those 20% bonus points will cover the interest you’re forgoing. But if it is, it’s still a great offer.

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  1. Is this only with the INK? What about for those of us with the Sapphire Preferred.

    • It’s only with Ink or with Freedom. However, if you do.it with the Freedom card you’ll need to have either Ink or Sapphire Preferred to be able to transfer the Freedom points to Ultimate Rewards.

      In short, you won’t get a bonus for having a checking account and Sapphire. You’ll need either Ink or Freedom AND Sapphire to get the Ultimate Rewards bonus.

  2. Angelina Aucello

    Is there a daily minimum balance requirement for the checking account? When does this offer expire? Would I be able to change my ba chase visa for the freedom without canceling?

    • You could get the Chase Freedom or the Chase Business Ink without canceling your BA card assuming you have not applied for another Chase card in the past month.

      There’s no expiration date listed.

      I believe you need to maintain $1500 monthly balance, but it’d be worth a quick phone call to them at 1-800-242-7324 and ask them about the Chase Exclusives promotion.

      • For the personal checking, it is indeed a $1500 monthly balance to avoid fees. I just opened one.

        I think you can convert the BA card to the Freedom but I’d be surprised if you could convert the BA to the Ink because one is a personal card and one is a business card.

  3. ” In short, if you have a Chase personal checking account and a Chase Freedom card, you’ll earn 2 bonus points for every $10 you spend on the card. And if you have a Chase Sapphire Bold card,”

    I think you mean 1 point for every $10. My understanding is that the Freedom+personal checking gets you only a 10% bonus. The Bold plus business checking is what gets you 20%. Also, I think you meant the Chase Sapphire in the last part of the sentence, though I am not 100% sure.

    • You are correct – I misread. It’s a 10% bonus (1 point per $10) + 10 points for each purchase. Depending on the average value of your purchase, that can be better than a 20% bonus. (As a Chase checking customer, you will also earn 1 bonus point for each $10 of net purchases (which equates to 10% of base points earned), and an additional 10 bonus points for each individual net purchase.)

      Hi – yes, I meant Chase Sapphire Preferred. See, this is what happens when I write early in the morning :)

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