Redeem Ultimate Rewards for Apple products at up to 1.5c per point

Looking for a new set of Airpods or Chase today unveiled a new benefit on their Ultimate Rewards cards whereby cardholders can redeem Ultimate Rewards points toward the purchase of Apple products at a value of up to 1.5c per point. Given that items appear to only be available at full retail price, I don’t find this super exciting — but on the other hand, I’m sure many people would be excited about getting a new MacBook Air for free with a credit card welcome bonus and that’s certainly far.

The Deal

• Now through November 15, 2020, those with Chase Ultimate Rewards credit cards can redeem points for Apple products at increased point values as follows:
  • Chase Sapphire Reserve cardholders: Redeem points for 1.5c per point toward all eligible Apple products available through Ultimate Rewards
  • Chase Sapphire Preferred and Ink Plus and Ink Business Preferred Cardholders: Redeem points for 1.25c per point toward all eligible Apple products available through Ultimate Rewards
  • Chase Sapphire (no-fee) and Freedom, Freedom Unlimited, Freedom Flex, and Ink no-annual-fee cardholders can redeem points for 1.2c per point toward Airpods only and 1.05c per point toward all other eligible Apple products available through Ultimate Rewards

Key Terms

• Available 10/15 to 11/15/20

Quick Thoughts

As noted at the top, I don’t think this is a particularly exciting bonus for those with Premium cards and the Sapphire Reserve as paying yourself back for groceries would free up cash to buy Apple products on sale and/or from the supplier of your choice (and use a credit card that offers purchase protections).

However, this may be a fairly exciting opportunity for those who only have no-fee Chase cards. For instance, if you only have a Freedom or Freedom Unlimited card and you’ve earned your points at greater-than-1x and can now redeem them for 1.2c each toward Airpods, that could be a pretty attractive redemption.

Overall I just see it as good news that Chase continues to expand opportunities to get more than 1c per point in value — and particularly locking in that 1.5c valuation with the Sapphire Reserve.

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