If you’ve got the Chase Freedom Flex℠, Chase Freedom Unlimited®, Chase Freedom® Student credit card, or Chase Freedom® (no longer available to new applicants), your points are now worth more for a handful of redemptions — and you can even earn up to 10% more rewards for purchases you might have already planned to make.
Through May 31, 2022, you’ll get up to 10% more value by using your points for things like Apple purchases, gift cards, and Chase dining. Chase calls this promotion the May Month of More, and it’s a welcome promotion for Freedom cardholders who don’t also carry an annual fee-incurring Ultimate Rewards card such as the Chase Sapphire Preferred® Card or Ink Business Preferred® Credit Card.
Even with a healthy value boost, I’ll explain why this redemption method is far from a no-brainer.
Limited-time increased redemption value for Chase Freedom cardholders
Chase Freedom Flex℠
15.24% to 23.99% Variable
Good to Excellent
Chase markets its Chase Freedom lineup as. In reality, they earn Chase Ultimate Rewards points. For example, Chase says the Chase Freedom Unlimited® earns 3% cash back at restaurants, but it actually earns 3 Chase points per dollar — which can be redeemed for 3% cash back.
With Chase Freedom cards, you can redeem the rewards you earn through the Chase Travel Portal at a rate of 1 cent each toward things like statement credits, travel, etc. But with the current May Month of More promotion, you’ll receive the following increased redemption values:
- Apple: Get 10% more value (1.1 cents per point) when you redeem through Apple Ultimate Rewards® store
- Gift card redemptions: Get a 10% discount (1.11 cents per point) when you redeem for select gift cards such as Home Depot, Macy’s, Bed Bath & Beyond, Buffalo Wild Wings, ULTA, The Cheesecake Factory, etc.
You’ll also get bonus rewards for certain shopping activities through the Chase Travel Portal:
- Shop Through Chase: Earn 5% bonus cash back or more when you shop online at select top stores such as Samsung, Nike, Home Depot, Lululemon, etc.
- Chase Dining: Earn a total of 10% cash back when you order takeout or make a prepaid reservation with Chase Dining (ends May 30, 2022).
If you’re a casual Chase Freedom credit card user, this promotion could well fit into the way you prefer to redeem your rewards. But for the record, there are better ways to use them.
There are more valuable ways to spend Chase points
If you have the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, the rewards you earn with your Chase Freedom cards can be worth significantly more than 1.1 cent each.
In your Chase Ultimate Rewards online account, you can transfer your Chase Freedom points to one of the above three cards. This will allow you to convert your points into various airline miles and hotel points. Insider estimates Chase points to be worth an average of 1.8 cents each when used in this way. For example, you could:
- Transfer as few as 5,000 points to Hyatt for a free hotel night.
- Transfer 26,000 points to British Airways for a round-trip flight from the West Coast to Hawaii.
- Transfer your points to Southwest and get an average of 1.4 cents per point toward free airfare.
There are many more powerful ways to use your points that eclipse the maximum value this latest promotion offers. Read our guide to the best ways to maximize Chase Ultimate Rewards points in 2022 for more ideas.
If travel doesn’t interest you, the current May Month of More promotion could be a fabulous way to redeem the rewards you’ve accrued with your Chase Freedom cards.
The bonus cash opportunities this promotion affords are a good deal no matter your travel goals. Any chance to earn more Chase points is great news.