Chase has opened a new rewards store that allows certain credit cardholders to use points and rewards toward new Apple products.
Chase’s Apple Ultimate Rewards Store is an addition to the company’s existing rewards platforms. It allows holders of Chase Sapphire, Freedom or Ink cards to use their rewards points toward any device or product in Apple’s lineup, tax included.
As a special introductory offer, Chase is also allowing users to redeem their points on a one-for-one conversion rate. One reward point equals one cent, meaning that 100 points will equate to one dollar toward Apple merchandise, according to a press release.
What Can I Buy?
Based on that current reward point structure, that means that products “purchased” through the rewards portal will be priced roughly equivalent to Apple’s cash prices. For example:
- 99,900 points can be redeemed for the iPhone XS, about $999.
- 39,900 can be redeemed for the Apple Watch Series 4 or iPad mini 4, about $399.
- 17,900 points can be redeemed for the Apple TV 4K, about $179.
You don’t need the full point value of a product to use your rewards. Users can redeem their points for a partial value of a product — though they’ll need to pay the difference with another form of payment.
Chase did not announce how long the introductory point redemption rate would last.
The company also didn’t expand on what the standard rate would be, but it’s worth noting that current Ultimate Rewards redemption rates range from 1 cent to 1.5 cents, depending on the card you have and the perk you can to redeem.
Either way, the new rewards store seems like a great way for Chase cardholders to trade in their rewards points for the latest Apple tech — just in time for the busy holiday shopping season.
You can find more information on Chase’s Ultimate Rewards program by visiting the platform’s website here.