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UPDATE: The Chase Sapphire Preferred no longer earns 3X points on the 1st Friday of the month.
Update: A credit card offer in this post may no longer be available, but check the Hot Deals for the latest offers!
Eat out today and get 3X points when you use your Chase Sapphire Preferred card.
That’s because Chase Sapphire Preferred gives 1 extra point per dollar on dining on the 1st Friday of each month. You usually get 2X points for dining.
I use my Chase Sapphire Preferred if I happen to eat out on 1st Friday. But I don’t go to a restaurant just to earn 1 more point per dollar.
How Can You Make This Deal Tastier?
Combine 3X Chase Sapphire Points and up to 5X points with Rewards Network!
Sign-up for a free account at Rewards Network. Then register your Chase Sapphire Preferred credit card information. You’ll automatically get the points when you use your card at 1 of their participating restaurants.
You can earn points with many airlines and hotels including:
- American Airlines
- Delta Airlines
- Hilton Hotels
- IHG Rewards
- Southwest Airlines
- United Airlines
You can earn up to 5 points per $1 spent. So a $100 meal would get you at most 500 points.
With Rewards Network you also keep your airline and hotel accounts active. Some programs delete all your points if your account is inactive! For instance, American Airlines miles expire if you don’t add or use points at least once every 18 months.
How the Points Add Up
Let’s say you’re focused on accumulating Southwest points. On the 1st Friday of the month you use your Chase Sapphire Preferred card to earn 3X Chase Ultimate Rewards points by spending $40 at a Rewards Network restaurant.
Here’s how many points you would earn:
- 3 points per dollar (Chase Sapphire Preferred 1st Friday) x $40 = 120 points
- 3 points per dollar (Rewards Network) x $40 = 120 points
So the total earned is ~240 Southwest points (120 points transferred from the Chase Sapphire Preferred + 120 points earned from Rewards Network)
You can transfer the Chase Ultimate Rewards points you earn with the Chase Sapphire Preferred card, directly to Southwest at a 1:1 ratio.
No Coupon – Just Use Your Chase Sapphire Preferred Card
Some folks are embarrassed to hand a coupon to the waiter. But with this deal, you simply pay with your Chase Sapphire card and get points from 2 programs at once!
Not Only for Restaurants
Many bars, pubs, and nightclubs also serve food and are counted as dining establishments. In my experience, many of these also earn the 3X dining points, even if you only order drinks.
Buying Gift Cards at Restaurants
You don’t need to dine out tonight to earn the points. You can also buy restaurant gift cards directly from the restaurant to use later.
Note: You will NOT earn the bonus points for purchasing restaurant gift cards from grocery stores.
Will You Still Earn 3X Points Outside of the US?
Yes. Use your Chase Sapphire Preferred in foreign countries to get 2X points on dining every day and 3X points on the 1st Friday of the month. The Chase Sapphire Preferred does NOT charge foreign transaction fees.
Get More Points With Chase Freedom
Until June 30, 2014, you get 5X points at restaurants (and Lowe’s) when you use the Chase Freedom card. So if you have the Chase Freedom card, use it instead of the Chase Sapphire Preferred card.
Keep in mind that you only get 5X points on up to $1,500 spending in all bonus categories. Which means the maximum points you can get is $1,500 x 5 = 7,500 Chase points. You can use these points for $75 cash back.
If you don’t have the Chase Freedom card, you may want to consider applying for it soon. That’s because Chase has doubled its usual sign-up bonus for the Freedom to 20,000 Chase Ultimate Rewards points for a limited time.
You get the bonus after spending $500 in the 1st 3 months.
You can’t transfer Chase Freedom points directly to airlines and hotels. But there is a way around that. You can transfer your Chase Freedom points to your Chase Sapphire card (if you have one) and from there transfer to a partner airline or hotel.
If you use the Chase Freedom card
at a Rewards Network restaurant for a $40 meal, here’s how many points will earn:
- 5X points with Chase Freedom card x $40 = 200 points
- 3X points with Rewards Network x $40 = 120 points
- 10% (Chase Freedom end of year bonus if you have a Chase checking account) x 200 = 20 points
So you get a total of:
- 320 Southwest points (200 points from the Chase Freedom card + 20 points from the Chase bank account 10% bonus + 120 points from Rewards Network)
You get 3X points on dining today and the 1st Friday of each month with Chase Sapphire Preferred. If you already have plans to dine out tonight this is a nice added bonus.
But folks who use the Chase Freedom card will earn more because you get 5X points at restaurants this quarter.
Remember to register for free at Rewards Network to earn even more points!