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UPDATE: The Chase Sapphire Preferred no longer earns 3X points on the 1st Friday of the month.
It’s the 1st Friday of the month, which means you earn 3X points at restaurants with your Chase Sapphire Preferred card. You usually get 2X Chase Ultimate Rewards points at restaurants. But today you will earn 1 more point per dollar.
Can You Earn 3X Points at More Than Just Restaurants?
In my experience, you also earn 3X points at some bars, pubs, and nightclubs as well. That’s because many of these places also serve food and are coded as dining establishments. Even if you only order drinks, you should still get the points.
However, Chase has the final say on what qualifies for the 3X points.
Combine Offers to Earn Even More Points
You will earn points with 1 Rewards Network partner of your choice.
You earn up to 5 points per dollar at Rewards Network restaurants. So you can only get up to 500 points for a $100 dinner.
While you might not earn a lot of points with Rewards Nework, the points you earn keep your airline and hotel accounts active.
Some reward programs will take away your points due to account inactivity. For example, Southwest points expire if there is no account activity for 24 months. But if you earn Southwest points through Rewards Network, you renew your points for another 24 months.
How Many Points Can You Earn?
Let’s say you want to earn Southwest points. So you go to a Rewards Network restaurant on the 1st Friday of the month and spend $50 on your Chase Sapphire Preferred card.
Here’s how many points you earn:
- 150 Chase Ultimate Rewards points (3X points for using the Chase Sapphire Preferred card x $50 restaurant bill)
- 150 Southwest points (3X points for using Rewards Network x $50 restaurant bill) Ultimate Rewards Points
You can transfer Chase Ultimate Rewards points to Southwest at a 1:1 ratio. This means you will earn a total of:
- 310 Southwest points (150 points transferred from Chase + 150 points from Rewards Network).
Buying Gift Cards at Restaurants
You also get 3X points by purchasing gift cards directly from a restaurant.
Note: Buying restaurant gift cards from supermarkets will NOT earn 3X Chase Ultimate Rewards points.
Can You Get 3X Points When Dining 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 a Better Bonus With Chase Freedom
From April 1, 2014 to 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 in all bonus categories. Which means the maximum points you can get is 7,500 Chase points ($1,500 maximum spending x 5 points per dollar). You can use these points for $75 cash back.
Chase Freedom points don’t transfer to airlines and hotels. But there is a way around that. You can transfer your Chase Freedom points to your Chase Sapphire Preferred 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 $50 meal, here’s how many Southwest points you will earn:
- 250 Ultimate Rewards points (5X points with the Chase Freedom card x $50 restaurant bill)
- 150 Southwest points (3X points with Rewards Network x $50 restaurant bill)
So you get a total of:
- 400 Southwest points (250 points from Chase Freedom + 150 points from Rewards Network)
If you have a Chase checking account you will also get a 10% bonus on points earned with the Chase Freedom card at the end of the year. So you get an additional 25 Ultimate Rewards points (250 points x 10% bonus).
On the 1st Friday of every month you can earn 3X Chase Ultimate Rewards points with your Chase Sapphire Preferred card at restaurants or bars that serve food. However, if you have the Chase Freedom card you will get a better deal because you get 5X points at restaurants through June 30, 2014.
I wouldn’t go to a restaurant just to get the extra points. But this is a good way to earn extra points if you already have plans to dine out or if you want to keep your points active.