How I Earned 1 MILLION+ Chase Ultimate Reward Points

Summary

This video shares strategies for earning over a million Chase Ultimate Reward points, focusing on both well-known and lesser-known methods. It covers basics like welcome offers and upgrade bonuses, as well as advanced tactics such as utilizing the Chase Trifecta, shopping portals, bonus sites, and referral programs. The speaker also discusses using transfer bonuses for maximizing points and offers tips on how to convert cashback rewards into valuable travel points. Viewers will learn various ways to maximize their Chase points for free travel experiences.

Takeaways

• 💳 Welcome offers are one of the best ways to earn large chunks of Chase Ultimate Reward points by meeting minimum spending requirements on new cards.
• 📈 Upgrade and retention offers can also earn significant points, typically by upgrading a card or renewing it for another year instead of canceling.
• 🛒 Earning points on everyday purchases, especially with no annual fee cards like Chase Freedom Flex, can yield 5% cash back or five points per dollar on certain categories.
• 🔄 The Chase Trifecta allows you to combine Freedom and Sapphire cards to convert cash back into Chase Ultimate Reward points and increase their value through travel partners.
• 🛍️ Chase has its own shopping portal where you can earn additional points for online purchases, similar to Rakuten but focused on Chase cards.
• 💼 Checking the Chase bonus site can reveal increased spending multipliers or other point bonuses for your cards, especially at the start of each quarter.
• 👥 Referral bonuses through the Chase referral program can earn extra points, especially when using 'two-player mode' to refer each other for various card products.
• ✈️ Transfer bonuses allow you to multiply points by transferring them to loyalty programs during special promotions, a strategy that can lead to big savings on travel.
• 🌍 Speculative transfers during bonus periods can be highly rewarding, but caution is advised as these transfers are one-way.
• 🛳️ Maximizing transfer bonuses allowed the speaker to book luxury travel experiences, such as a seven-night Mediterranean cruise, with points earned through promotions.

Q & A

What is the most common way to earn Chase Ultimate Reward points mentioned in the script?

The most common way to earn Chase Ultimate Reward points is through welcome offers, where banks offer a large chunk of points after signing up for a new card and meeting a minimum spending requirement.

How can you earn points through upgrade and retention offers?

Upgrade offers give you points when you upgrade a card, while retention offers give points when you renew a card that you were considering canceling or downgrading. These offers can range from 30,000 to 50,000 points.

What is the 'Chase Trifecta' strategy?

The Chase Trifecta involves using one of the Chase Sapphire cards (Preferred or Reserve) and both Freedom cards (Freedom Unlimited and Freedom Flex) to maximize points earning across various spending categories. This allows users to combine points for greater value.

How does combining Chase cards help maximize points?

By combining a cash-back card like the Chase Freedom Flex with a point-earning card like the Sapphire Preferred, you can convert cash back into Chase Ultimate Reward points, making the rewards more valuable and transferrable to travel partners.

What is the Chase shopping portal and how does it help earn more points?

The Chase shopping portal allows users to earn extra Chase Ultimate Reward points by shopping through the portal at participating retailers, adding to the points earned through the regular use of Chase cards.

What is the Chase bonus site and how can it help maximize point earnings?

The Chase bonus site allows users to check for increased spending multipliers and other bonus offers on their Chase cards. By checking this site regularly, especially at the start of each quarter, users can take advantage of higher point-earning opportunities.

What is the Chase referral rewards program and how can it be used to earn more points?

The Chase referral rewards program allows cardholders to earn points by referring friends and family to sign up for Chase cards using their referral link. This strategy can earn hundreds of thousands of points, especially when combined with welcome offers.

What are transfer bonuses and how can they increase point value?

Transfer bonuses allow users to increase the value of their points when transferring them to travel partners. For example, a 30% transfer bonus to a loyalty program like Virgin Atlantic can significantly increase the number of points available for redemption.

What are the potential risks of speculative point transfers during transfer bonuses?

Speculatively transferring points without having a specific trip in mind can be risky because point transfers are one-way. If the points end up not being used, they could lose value or go to waste. However, if used strategically, speculative transfers during bonuses can offer great value.

Why might someone combine points between multiple Chase cards?

Combining points between Chase cards, especially between personal and business cards, allows users to pool points for larger redemptions and transfer them to travel partners. This can be done for personal accounts, family members, or business co-owners.