Chase Updates Their Earnings On Cards

As we are all aware, 2020 has not been the year we expected. Some may say it has been catastrophic. Travel is down, people have reduced their spending habits, and lots of people have lost their jobs. Some credit card companies have seen the reduction in spending and needed to make adjustments so they can make money and simultaneously keep the economy running. For now, let’s look at what Chase has to offer from now (July 1st, 2020) to September 30th, 2020.

Chase Sapphire Reserve Updates

For a limited time from now until September 30th, Chase will be offering 5x the points on Instacart delivery and pickup orders. This will cap out at $3,000, meaning that once your point totals on instacart have hit the limit of $3,000, you are not eligible for the 5x points anymore. That being said, because you have 3 months to make these orders, this would be equal to $1,000 a month, which is very manageable if you are exclusively picking up/ordering your food due to COVID. You may also be eligible to receive a $50 statement in credit towards an Instacart Express membership.

New Bonuses Through September 30th

In addition, Chase Sapphire Reserve holders will also see a 5x points spike at gas stations across the 3-month promotional period. This will cap out at $4,500, meaning you won’t be eligible for more points at gas stations exceeding $4,500. Just like the Instacart delivery and pickups, this will expire after the 3 months stretching into September 30th.

Finally, for anyone who has streaming services on their card, you will love hearing this offer. As you may know, the Chase Freedom card has been giving cardholders 5% back in Quarter 2 of 2020 (with a cap of $1,500 per quarter) for select streaming services. Chase has expanded this to now getting 10x the points on select streaming services (Netflix, Hulu, Disney+, and many more) on up to $1,500 across 3 months. These points will do wonders for your rewards rates and should put your mind at ease when you just want to watch something on Netflix late at night.

Chase Sapphire Preferred Updates

Just like the Chase Sapphire Reserve, from now until September 30th, Chase will be offering a more lucrative rewards rate, only now it will be 3x the points on Instacart delivery and pickup orders. This will cap out at $3,000, meaning that once your point totals on Instacart have hit the limit of $3,000, you are not eligible for the 3x points anymore. This should not be something to worry about since you would be needing to order on Instacart every day and be ordering nearly 5 meals, this isn’t something you should be concerned about. Just like the Reserve, you may also be eligible to receive a $50 statement in credit towards an Instacart Express membership.

New Bonuses Through September 30th

Just like the Chase Sapphire Reserve, holders of the Preferred card will see a 3x points spike at gas stations across the 3-month promotional period. This will cap out at $4,500, meaning you won’t be eligible for more points at gas stations exceeding $4,500. Just like Instacart delivery and pickups, this will expire after the 3 months stretching into September 30th.

Just like the Reserve, the Preferred card offers streaming services points back on their card. Chase has expanded this for the Preferred card to now attain 5x the points on select streaming services (Netflix, Hulu, Disney+, and many more) on up to $1,500 across 3 months.

Takeaways

While it is clear that this promotional period is for banks like Chase to try making people start spending their money again, the promotions are no joke. Instacart shoppers can now have groceries delivered to their door with ease or take out food. Shoppers can also get things from Costco, Petco, and other areas to maximize their bonus potential during this period. By purchasing a membership, you will be eligible for $0 delivery fees when making orders of $35 or more, no busy pricing fees during peak delivery hours, and more.

With the additional gas and streaming services also heightening their earnings, it is easy to see why banking with Chase right now is a smart move financially while keeping yourself and your family safe during the pandemic. We always recommend banking with Chase, as their services and earnings rates are rarely outmatched by their competitors.