Converting Chase Cash Plus Reward Credit Card to Chase Rewards Plus Credit Card
Guest: quiznut1
Credit Expert (100+ Posts)
Post subject: Converting Chase Cash Plus Reward Credit Card to Chase Rewards Plus Credit Card
Posted: Thu Apr 13, 2006 9:47 am
I've referenced this in another post, but for those who currently hold the Chase Cash Plus Rewards card, you can convert your current Chase Cash Plus Rewards Card program to the new Chase Rewards Plus card program without much of an issue. There's no credit hit, it's just a change in their computer system.
The programs are essentially the same, both are 5 points per dollar on gas, grocery and drug store purchases, and 1 point per dollar on everything else.
I talked to a representative who told me that converting programs was possible, the only thing to keep in mind is that you can't bring any of the points you had from the Chase Cash Plus program into the Chase Rewards Plus program. However, this can be bypassed by redeeming exactly 5,000 points for a $50 check with the Chase Cash Plus program, putting your point balance at ZERO (0) and converting to the Chase Rewards Plus program. This is exactly what I will be doing with my Cash Plus card in about a month when I reach another 5,000 points.
There are advantages of converting, because the Rewards Plus program has a yearly point limit of 75,000, compared to the Cash Plus program, which is only 30,000 points per year.
Also, your points won't expire for 5 years under the Rewards Plus program, as compared to 3 years for the Cash Plus program.
The only thing to keep in mind is that under the Rewards Plus program, you should not redeem your points for cash until you reach 10,000 (for a $100 check), because the other levels are 3,500 points for a $25 check, and 6,000 for a $50 check. Also, you can only redeem 60,000 points in a year for cash ($600). The other 15,000 points ($150) you can use for gift cards to selected merchants, so that is nice.
Anyway, bottom line, if you have the Chase Cash Plus Card, you should convert to the Rewards Plus program because at the very worst, you can get another $300 to work with each year.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Fri Apr 14, 2006 7:27 am
Good tips as usual quiznut!
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Credit Expert (100+ Posts)
Post subject: Converting Chase Cash Plus Reward Credit Card to Chase Rewards Plus Credit Card
Posted: Thu Apr 13, 2006 9:47 am
I've referenced this in another post, but for those who currently hold the Chase Cash Plus Rewards card, you can convert your current Chase Cash Plus Rewards Card program to the new Chase Rewards Plus card program without much of an issue. There's no credit hit, it's just a change in their computer system.
The programs are essentially the same, both are 5 points per dollar on gas, grocery and drug store purchases, and 1 point per dollar on everything else.
I talked to a representative who told me that converting programs was possible, the only thing to keep in mind is that you can't bring any of the points you had from the Chase Cash Plus program into the Chase Rewards Plus program. However, this can be bypassed by redeeming exactly 5,000 points for a $50 check with the Chase Cash Plus program, putting your point balance at ZERO (0) and converting to the Chase Rewards Plus program. This is exactly what I will be doing with my Cash Plus card in about a month when I reach another 5,000 points.
There are advantages of converting, because the Rewards Plus program has a yearly point limit of 75,000, compared to the Cash Plus program, which is only 30,000 points per year.
Also, your points won't expire for 5 years under the Rewards Plus program, as compared to 3 years for the Cash Plus program.
The only thing to keep in mind is that under the Rewards Plus program, you should not redeem your points for cash until you reach 10,000 (for a $100 check), because the other levels are 3,500 points for a $25 check, and 6,000 for a $50 check. Also, you can only redeem 60,000 points in a year for cash ($600). The other 15,000 points ($150) you can use for gift cards to selected merchants, so that is nice.
Anyway, bottom line, if you have the Chase Cash Plus Card, you should convert to the Rewards Plus program because at the very worst, you can get another $300 to work with each year.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Fri Apr 14, 2006 7:27 am
Good tips as usual quiznut!
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 7:48 PM
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