Extended – Here’s How to Earn 60,000 Chase Ultimate Rewards Points WITHOUT Applying for a Credit Card

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Extended – Here’s How to Earn 60,000 Chase Ultimate Rewards Points WITHOUT Applying for a Credit Card

MeghanExtended – Here’s How to Earn 60,000 Chase Ultimate Rewards Points WITHOUT Applying for a Credit CardMillion Mile Secrets Team

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Did you know you could earn 60,000 Chase Ultimate Rewards points WITHOUT opening a credit card?

Chase will give folks with any of the following cards 60,000 bonus points for opening a Chase Sapphire bank account:

60,000 Chase Ultimate Rewards points are enough for a round-trip coach flight to Europe .  Or 2 nights at the Park Hyatt St. Kitts Christophe Harbour, which can easily cost $600+ per night!  And that’s more points than the sign-up bonus on any of those cards.

This deals not for everyone, but I’ll explain the details and help you decide if it makes sense for you.

With This Deal You’ll Earn Enough Points for 2 Free Nights at the Incredible Park Hyatt St. Kitts Christophe Harbour in the Caribbean

There’s a big requirement to earning this bonus.  After opening the bank account, you’ll need to deposit $75,000 in new assets and keep that balance for at least 90 days.  If you can do that, you should take advantage of this deal!

Here are more details:

  • Chase Freedom or Sapphire cardholders can open a new Chase Sapphire banking account (or upgrade their existing Chase bank account in branch) and receive 60,000 Chase Ultimate Rewards points
  • Your Chase Freedom or Sapphire card must be in good standing
  • You must transfer $75,000 in qualifying new money or securities (checking, savings, investment accounts) into the account within 45 days, and keep it there for 90 days
  • You will forfeit the bonus points if you close your account within 6 months
  • You’ll be charged $25 every month your account is below $75,000
  • NOT available to existing Chase Sapphire Banking or Chase Private Client customers
  • Deal expires on March 5, 2019

You’ll get your points within 45 days of qualifying for this offer.  Note that the terms say you can only receive 1 Sapphire Checking, Chase Private Client Checking or You Invest bonus every 12 months.  Additionally, it seems that Chase will value these points at 1 cent each come tax season.

This deal has been available through Chase branches nationwide, but now it’s available online and the expiration date has been extended.  So it’s easier than ever to take advantage of this bonus!

You’ll find the full details of the offer here.  Let us know if you get in on it!

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Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred named "Best Credit Card for Flexible Travel Redemption" - Kiplinger's Personal Finance, June 2018
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

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I don’t know, this is a pretty easy analysis. $75K in the market earning a conservative average of 6% for 3 mos is a loss of $1125. If losing $1125 is worth gaining 60K points go for it. But not for me.

Don’t forget that they will give you a 1099-INT for those points. That’s what deterred me.

Yes, but taxed on $600 NOT on the $900 – $1,200 likely value by using the points for travel rather than cashing them in.

You could also prepare for the addtl income by generating losses so there might be no affect. Most individual taxpayers should see at least a modest reduction in federal income taxes this year because of new code anyway, so that might also allow for some addtl reportable income.

Regardless of its effect on taxes, this was the easiest $1,200 of value (in my case) I will likely “earn” this year in a single transaction! I spent 15 min in the bank & wrote 1 check, YES!

I completed this process this week. Some important info:

1) if I you do not already have a Chase CHECKING OR SAVINGS account YOU HAVE TO DO THIS IN BRANCH.

2) You need to have a home address where Chase has physical bricks and mortar banks.

3) It takes several hours in branch to set up if you want to add business accounts. Expect at least an hour just for a personal account

4) There is a clawback so money must stay in checking, savings or investment account for 6 months or your points will be revoked.

5) interest rate on checking and savings is laughable but you can immediately but into investment vehicle for higher rate and still qualify for points.

6) you have to have the 75K in within 10 days or so and it can be in savings checking or investment

7) YOU NEED TO BRING THE OFFER CODE WITH YOU – they have no access to it.

8) it may take multiple tries to get code and account to line up, hence expect to be there a while.

9) two forms of ID

10) to get money in easily bring a check with you to deposit into the new account and right the check to yourself out of the old account to deposit in new account.

Good luck!!!!

The OFFER CODE: Where/How exactly did you get this?

He is talking about an upgrade offer. You probably don’t already have a Chase checking account, but if you did (along with a Sapphire card), Chase might mail/email you a code to use to set up the new Sapphire banking account.

If you don’t have an account/code, got to a branch and try & set up an account there. Mixed reports of whether the Sapphire banking UR offer works without already being a customer, but I say at least try in-branch regardless.

3. It took my banker 15 min in-branch to upgrade my existing acct. Of course she also already knows me. One of the very nice benefits unlike previous promos – able to keep the same acct number so no new chks/ATM card/changing preauthorized debits etc.

Biz acct funds cannot be added to the $75k requirement, all funds must be personal (chking, saving). No trust accts either.

5. Once deposited, all $75k can be held in savings, which are multiple rates higher than checking. Funds from 9 different checking accts in fact can all be linked to qualify.

6. The offer states explicity that Chase allows 45 days to move new funds into the acct. My paychecks are already deposited into my acct which is considered “new money.” From the day (up to 45 days) the full $75k is deposited, however, a $75k average balance must be maintained for 90 days or a $25 monthly charge is assessed.

8. & 10. Literally 15 min to upgrade acct & fund with a chk from another bank – super easy esp for the amount of the bonus! I spent longer responding to some of your posting than I did with Chase’s procedures!

9. A Chase ATM card works as the second form of ID (along with a DL, etc).

But … the fine print indicates that interest paid on the funds is 0.01%. There are many savings accounts that now earn 2% without restrictions and commitments. (More than 2% with commitment). 75k left at 2% for 6 months earns $750. (If you leave the chase account open but move the balance below 75k then you pay $25/month in fees!) I don’t see any real value here unless you value points well over 1.5/1

The investment products can get up to around 3%.

do they have money market funds available fee free through the chase account, because then it’s basically the same as online savings account with the 60k on top for 6 months

Chase’s rates have never been as high as online accts (& likely never will be for obvious reasons), but yes they do offer MMAs at lower rates.

I am already receiving special invites from Chase I wasn’t getting with my other accts with them (incl the CSR & several other cards), so for me they are providing different value over the straight 2%+ Cap1, etc online accts.

As I already posted though, moving the funds to a JPMC investment acct is the optimal solution I think for meeting the bonus requirements while not sacrificing return. 60,000 sweet URs just for writing a check…I still am amazed.

@ Juli – the in-bank credit card bonus offers are right now the same for all Chase cards (I asked my banker sev weeks ago). I was able to previously get elevated offers for UR cards, though, & that could always return.

Develop a BRM relationship (Branch Relationship Mgr) with your local branch, & they should reach out to you for future in-branch offers if you ask them to.

@ Juli (you could also transfer securities/MMA from an existing investment account {outside Chase} to achieve the same end result)

@ Juli – Sapphire Banking offers benefits with You Invest by J.P. Morgan (the investment banking arm of JPMC).

Invest for Free refers to online commission-free trading in U.S. listed stocks and Exchange-Traded Funds (ETFs).

Here is the link to open an account. You don’t have to also have a Chase Sapphire relationship to open, but the funds there do count towards the $75k for 90 days (to earn the 60k URs) + addtl account incentives with also a premium banking relationship:


Can I ask, when you say Move to Investment acct, exactly what type of acct are you talking about?

Are the CSR offers better than what is already out there?

Leave the $75K for one month and then transfer most of it to a 2% savings account and get the 60,000 points and 2% for 5 months…..

$75k must be left for 90 days & the acct must remain open for 6 months or URs not earned/forfeited.

I thought it said that you had to leave a $75,000 balance for 90 days. Do you think transferring it to a savings acct will work?

No it won’t work. It has a clawback if points if you do that.

Tried to go through the link to open an account and got this message:

“We can’t open this type of account for you.
This product isn’t available in your region.” May have to go to a branch to open?

You have to live in a state with physical brick and mortar banks. So it’s rejecting perhaps based on you address.

I would suggest doing this in branch anyway, and confirm the offer. When I signed up I was offers the points or cash too; took the points 🙂