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Chase is currently emailing select customers who hold one of its IHG Rewards co-branded credit cards with an offer of bonus points on spending in select categories. What may make this offer appealing to quite a few people is the fact that some of the categories that will trigger the bonus points are categories that don’t generally earn bonus points with other credit cards.
“Earn a total of 5X bonus points on up to $2,000 in purchases when you pay select bills with your IHG® Rewards Club Credit Card from Chase between January 15 and March 31, 2020”
I was targeted for this offer on my Chase IHG Rewards Credit Card which is no longer open to new applicants but I’ve seen this offer turn up in the inboxes of people who hold the IHG Rewards Club Premier credit card ($89 annual fee) and the IHG Rewards Club Traveler credit card (no annual fee) as well so it looks like the targeting of this offer may be quite broad.
Headline Terms & Conditions
- Registration is required (via the link in the personalized email sent to targeted customers) by 31 March 2020.
- Earn a total of 5 bonus points total for each $1 spent in the following categories:
- Phone services
- Cable and Internet services
- Bonus points are available on up to $2,000 in total spend on combined purchases in the reward categories listed
- For a purchase to qualify for this offer, the merchant must submit charges to your credit card by the last day of the promotional period.
- All of your eligible purchases during the promotional period will be automatically counted, as long as you have enrolled by 31 March 2020.
Full terms and conditions have been reproduced at the end of this post.
Is This A Good Deal?
What’s actually on offer here are 4 bonus points per dollar (spent in the categories stated) as Chase is including the 1 point per dollar that the various IHG Rewards Club credit cards already earn on everyday spending in its 5 points/dollar figure.
I value IHG Rewards points at 0.4 cents each so, essentially, this promotion is offering a 2% rebate on spending on utilities, insurance, phone services, and cable and internet services through to the end of March (with a $2,000 spending cap).
The cap means that there is a maximum of 10,000 points on offer and, although that may not sound not too bad considering how easy the points would be to pick up, you first have to consider what other cards you hold in your portfolio.
There are a couple of well-known credit cards that offer bonus points or great cashback when you use them to pay your phone bills, cable bills and your internet bills…
- Ink Business Preferred credit card – 3 points/dollar on internet, cable, and phone services (equal to a 4.5% rebate based on my valuation of Ultimate Rewards points)
- Ink Business Cash credit card – 5% cashback (or 5 points/dollar if you also have a Sapphire credit card) on internet, cable, and phone services.
…and if you have either of those cards in your wallet you would be leaving money on the table if you chose to pay your phone/cable/internet bills with one of the Chase IHG Rewards Club cards.
With utilities and insurance payments, things are a little different as there aren’t any mainstream credit cards that offer bonus points for spending in those categories…but that still doesn’t mean that the Chase IHG Rewards credit card offer is one you should be jumping on – there are still a few cards that will match or beat what Chase is offering in this promotion.
- A number of very good cashback credit cards will offer you at least a 2% rebate on your spending so that will match (or beat) what the IHG Reward Club credit card promotion is offering right now.
- The Chase Freedom Unlimited credit card earns 1.5 points/dollar on all spending and, as I value Ultimate Rewards points at 1.5 cents each, that’s an effective rebate of 2.25% which beats the current Chase IHG Rewards offer.
- The Blue Business Plus credit card from American Express offers 2 points/dollar on all spending (for the first $50,000 of purchases in a year) and as I value Membership Rewards Points at 1.5 cents each that’s an effective rebate of 3%…which also beats what Chase is offering in this promotion.
If your wallet is home to any of the cards mentioned above you’ll be leaving money on the table if you use a Chase IHG Rewards Club credit card to pay your insurance or utility bills….so don’t do it!
So who should consider this offer?
If you don’t have a credit card that offers you at least a 2% return on your spending when paying a bill in one of the categories that appear in this promotion then you’re not going to go far wrong if you use your targeted IHG Rewards Club credit card to earn a few bonus points here….but if you don’t have one of the Chase Ink Business cards in your portfolio or a great cashback card or even the Blue Business Plus credit card you should probably be asking yourself why that’s the case – you’re missing out! 🙂
Have you been targeted for this offer? What do you think of it?
Full Terms & Conditions
5X Points Offer: To be eligible for this offer, you must log on to the website referenced in this offer and enrollYou’ll earn 5 bonus points total for each $1 spent, on up to $2,000 in total spend on combined purchases in the reward categories listed below during the promotional period (4 additional points on top of the 1 point earned on each purchase). After $2,000 on combined purchases in the reward categories listed below, you go back to earning 1 point for every dollar spent, with no maximum. For a purchase to qualify for this offer, the merchant must submit charges to your credit card by the last day of the promotional period All of your eligible purchases during the promotional period will be automatically counted, as long as you have enrolled Please allow up to 8 weeks after qualifying purchases post to your account for bonus points to post to your account. To be eligible for this offer, your account must be open and not in default at the time of fulfillment. Rewards Categories: Internet, Cable, and Phone Service category merchants provide internet, cable, satellite television, radio, cellular, wireless data, and landline services. In addition, if you purchase or pay for your internet, cable and satellite television, phone or related services in a merchant’s store that is not registered by the merchant in the applicable services category, the purchase or payment will not qualify; for example, phone bill payments in a merchant’s store that register to Chase as a telephone equipment store. Utility category merchants provide electric, household fuel, water, and sanitation. Please note that purchases of equipment and some merchants that sell utility-related goods and services are not included; for example, electronics or other retail stores and merchants offering maintenance and cleaning services. Insurance category merchants provide health, automobile, homeowners, medical, and life insurance. What determines whether a merchant falls into a category? Merchants who accept Visa/MasterCard credit cards are assigned a merchant code, which is determined by the merchant or its processor in accordance with Visa/MasterCard procedures based on the kinds of products and services they primarily sell. We group similar merchant codes into categories for purposes of making offers to you. Please note: We make every effort to include all relevant merchant codes in our categories. However, even though a merchant or some of the items that it sells may appear to fit within a category, the merchant may not have a merchant code in that category. When this occurs, purchases with that merchant won’t qualify for offers on purchases in that category. Purchases submitted by you, an authorized user, or the merchant through third-party payment accounts, mobile or wireless card readers, online or mobile digital wallets, or similar technology will not qualify in a category if the technology is not set up to process the purchase in that category. This promotional offer is non-transferable and applies only to the account ending in the last 4 digits referenced in this offer. For more information about your rewards program, see your Rewards Program Agreement.