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As the coronavirus shows no signs of slowing down, consumers are adopting new shopping habits. In response, credit cards are adjusting their rewards programs to reflect changes in spending.
Here is a closer look at the changes to these credit cards.
Time-limited earnings and statement credits
If you’ve binge-watched movies to pass the time at home, your Chase Card could help you save not only on streaming services, but also online grocery orders for movie snacks.
Chase Sapphire Reserve earns 10 points per dollar, and Chase Sapphire Preferred Card earns five points per dollar on select streaming services through September 30. This reward rate applies up to $ 1,500 spent on qualifying streaming services including Netflix, Hulu, Disney +, Hulu, ESPN +, Sling, Vudu, FuboTV, YouTube TV, Apple Music, SiriusXM, Pandora and Spotify.
You can also get bonus points and statement credits until September 30 when you use either card to pay for the Instacart grocery delivery service. Chase Sapphire Reserve earns five points per dollar, and Chase Sapphire Preferred Card earns three points per dollar on up to $ 3,000 in Instacart orders. This is a jump from the usual point per dollar on grocery delivery services.
If you use Instacart regularly and renew or purchase a $ 99 Instacart Express subscription with your card, you will get a $ 50 credit on your statement. Credit means you will basically get it at half the price. If you opt for a monthly subscription of $ 9.99, you will be credited for three months.
Earn more with groceries
You are probably seeing the coronavirus pandemic increasing your grocery bill. Strong demand and other effects of the health crisis caused prices to skyrocket.
Using your Chase Sapphire Reserve or Chase Sapphire Preferred Card can help you manage these costs by reimbursing you with rewards.
Chase Sapphire Reserve earns five points per dollar, and Chase Sapphire Preferred Card earns three points per dollar on up to $ 1,500 of groceries you purchase through September 30. Normally, both cards earn one point per dollar on grocery store purchases.
Cardholders will automatically receive the increased rewards; no activation is required.
Redeem your points for more value
Your points are worth 25% more until September 30 when you redeem them for statement credits through Chase’s Pay Yourself Back program. Whether you have the Chase Sapphire Preferred Card or the Chase Sapphire Reserve, you can receive this bonus on credits for grocery, restaurant, takeout, qualifying delivery service, and home improvement store purchases.
Cardholders will continue to get additional value when redeeming points for travel through the Chase Ultimate Rewards portal instead of cash back. Points are worth 25% more with the Chase Sapphire Preferred Card and 50% more with the Chase Sapphire Reserve.
Rewards at the pump
If you are going on a summer trip, additional points on gasoline purchases may come in handy. You’ll get five points with Chase Sapphire Reserve and three points with Chase Sapphire Preferred Card up to $ 1,500 at gas stations through September 30.
If you have Chase Sapphire Reserve, you also have more flexibility in how you can apply your $ 300 annual travel credit. As travel is limited by the coronavirus, cardholders can apply gas station and grocery store purchases to travel credit until the end of the year.
Check your credit cards for changes
Chase has extended bonus rewards for home spending not only on Sapphire cards, but many co-branded cards as well. These include:
You can track changes on your card by reading notifications from your card issuer and logging into your account online.