Those who are looking to buy a home or refinance their existing mortgages can benefit from getting a mortgage through Chase bank. Chase currently offers interest rates that are comparable to the national average. Additionally, if you need to make repairs or tap some of the equity you’ve built up in your home for an emergency, Chase offers home equity loans. This is another banking option that Chase offers for its customers. If you’re looking to keep all of your accounts at the same bank, Chase can offer a great option.
Chase Credit Cards
Chase is one of the best options when it comes to getting credit cards that offer lucrative signup bonuses for new clients. The bank has a range of personal and business credit cards that can really pay off. There are some limits to getting a Chase credit card that you’ll want to remember to make it more likely you’ll get approved. The most important is the 5/24 rule. This simply means that you’re unlikely to get approved for a Chase credit card if you’ve opened five or more credit cards from any bank over the past 24 months. There are also limits to the amount of credit that Chase will extend to its customers. The amount of credit available will be tied to your household income and the level of debt you currently hold. As with any credit card, Chase will pull your credit report, and a higher score will make it more likely the bank will approve your application.
If you’re looking to save on interest costs, you might want to look into the Chase Slate card. This card will offer new cardholders the ability to get a low 0% introductory rate on balance transfers and purchases for the first 15 months the card is open. Another great benefit of getting a Chase Slate if you’re in debt is the lack of a balance transfer fee for the first 60 days the account is open. The card comes with no annual fee, and Chase won’t jack up your interest rate if you make a late payment.
Ultimate Rewards Cards
Chase offers a number of cards that pay off in Ultimate Rewards points or cash back. If you have a higher-level card, you can transfer any points from a low-level card to the higher level card and get more flexibility. Those who want a simple cash-back card might opt for the Chase Freedom or Chase Freedom Unlimited. These cards come with no annual fee, and they frequently offer signup bonuses after meeting a relatively low minimum spend within three months of opening a new card. A common bonus is $150 or $200 for spending $500 within three months.
Each dollar spent on the Freedom earns a point that’s worth a penny. In rotating quarterly categories, you’ll earn five points per dollar spent with the Chase Freedom. Common bonus categories are restaurants, gas stations and grocery stores. The Chase Freedom Unlimited earns a flat 1.5% cash back on every dollar spent.
Chase also offers the Sapphire Preferred and Sapphire Reserved cards. The Sapphire Preferred offers a 60,000-point bonus after spending $4,000 in the first three months the card is open. The Sapphire Reserve offers a 50,000-point bonus after meeting the same level of spending. The former comes with a $95 annual fee while the latter has a $450 fee each year. If you get a Sapphire Reserve, you’ll get a $300 annual travel credit that effectively drops the annual fee to $150. These Ultimate Rewards cards will pay out a penny a point when redeemed for cash. Cardholders can also book travel through the Chase Ultimate Rewards portal and get 1.25 cents of value per point with the Sapphire Preferred and 1.5 cents of value when redeeming with the Sapphire Reserve.
Cardholders also have the opportunity to transfer each point to travel partners. Most transfers provide one loyalty point for each Ultimate Rewards point transferred. Some of the leading travel partners that allow for transfer with the Ultimate Rewards program are Marriott, IHG and Hyatt on the hotel side. Airline transfer partners include United, Southwest and Air France. The option of transferring to travel partners can sometimes return a greater value than using the cash-back option, but it’s important to do the math before making a transfer.