10x via Chase Dining on up to $500 for Sapphire Preferred and Reserve cardholders

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Chase is out with a new promotion today offering 10x Ultimate Rewards points for Sapphire Preferred and Sapphire Reserve cardholders who book / order through Chase Dining.

The Deal

  • Chase is offering 10x Ultimate Rewards points on up to $500 spent for Sapphire Preferred and Sapphire Reserve cardholders who book / order through Chase Dining from 2/15/21 to 6/30/21. You must order through Chase Dining to earn this bonus.

Key Terms

  • You’ll earn 10 points total for each $1 spent, on up to $500 in total spend when you use your Chase Sapphire Reserve card in Chase Dining during the promotional period 2/15/32 to 6/30/21 (7 additional points on top of the 3 points earned on each purchase with the Sapphire Reserve or 8 additional points on top of 2 points with the Sapphire Preferred).
  • After spending $500 on Chase Dining purchases, you go back to earning 3 points 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 6/30/21.
  • Please allow up to 8 weeks after qualifying purchases post to your account for points to post to your account.

Quick Thoughts

To take advantage of this deal, log into the Chase app and go to Ultimate Rewards and click on “Chase Dining”.That will bring you to available restaurants. Chase uses a service called Tock, so there may be more limited choices in your city. For example, Greg noted finding 3 popular restaurants in Ann Arbor.

You’ll then need to pick a date and time for pick up. You’ll see menu items listed by price either in points or cash.

I believe it will default to paying with your Chase Ultimate Rewards points. If you would rather pay with money using your Chase Sapphire Preferred or Reserve credit card, don’t forget to zero out the number of points being applied.

On that note, as long as Pay Yourself Back is available for dining, it makes more sense to pay with credit card and then pay yourself back so that you both earn points and redeem them for the same purchase.  That makes a difference for this promotion because of the ability to earn 10x points on up to $500 spend – so pay for your meal with your card to earn 10x and then pay yourself back with points.

As an example to illustrate this:
  • Buy $90 worth of food
    • Pay with points: 6K points = 1.5 cents per point value
    • Pay with credit card:
      • Earn 90 x 10 = 900 points
      • Pay Yourself Back with 6K points
      • Net cost for $90 of food = 5,100 points
      • Point value: $90 / 5100 = 1.76 cents per point

This is a limited opportunity since it is only good on up to $500 worth of spend, but it is nonetheless a nice chance to get great value in terms of return on spend and ultimately better value for paying yourself back.

H/T: Doctor of Credit

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