Home Credit Cards Chase’s New & Different Statement Credits

Chase’s New & Different Statement Credits

by joeheg

When it comes to credit card issuing banks, I tend to expect similar offers from each one. However, each bank has its own unique way of rewarding its customers. For instance, American Express has its widely popular AMEX Offers program which provides bonus points or statement credits for targeted spending. Barclays, on the other hand, is more likely to issue bonuses for spending a certain amount of money on your card over multiple months. Citi typically sends offers to receive extra points in a particular category. But when it comes to Chase, I think about their bonus point offers, which come out every 3 months or so. So no matter which bank, it’s important to keep an eye out for these offers and take advantage of them when they align with your spending habits.

However, Chase just sent Sharon targeted offers on three of her cards which are outside the norm for them. They’re offering a statement credit after spending a set amount in select categories, and it’s an expansive list.

All of the offers we received included these spending categories:

  • Fitness Clubs & Gym Memberships
  • Utilities
  • Local Transit and Commuting
  • Insurance
  • Phone, Cable & Internet Services

For her Sapphire Preferred card, she needs to spend $150 before the end of October to receive a $10 statement credit.

She also received a similar offer for her IHG® Rewards Premier Credit Card and her IHG Rewards Club Select Credit Card. Both IHG cards require $100 in spending for a $5 statement credit.

To put it differently, you’re getting a 6.67% return with the Sapphire Preferred and 5% cash back with both IHG cards. This is on top of any rewards you’d usually earn.

For example, Transit and commuting expenses earn 2X Ultimate Rewards with the Sapphire Preferred so you’d receive those points plus 6.67% cash back.

Final Thought

Although the spending amount may seem small, it’s encouraging to witness Chase venture outside their comfort zone by exploring new rewards. It’s always refreshing to see companies take risks and try something different. For categories such as insurance expenses, there are scarce opportunities to earn more than the base return with a reward card. I intend to capitalize on these offers because I want to show Chase that they have my attention and I don’t want to miss out on a free $20.

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