There’s a lot of uncertainty for everyone right now, especially when it comes to finances. Fortunately, credit card issuers are providing several ways to get through the COVID-19 stay-at-home orders a little more easily, from extending the time to earn signup bonuses to providing extra rewards for things like groceries, takeout, streaming services and more.
Although many people are home and unable to travel, people will someday travel again so continuing to earn rewards toward that future travel is worthwhile. Or, perhaps, cash back rewards are where your credit card rewards efforts are focused right now and that's ok, too.
Here are some of the opportunities to rack up extra rewards when you use your card or to use your rewards in some out-of-the-box ways.
Is your credit card offering extra rewards right now or changing up how you can redeem those rewards? Tell us about it in the comments or email firstname.lastname@example.org.
Chase expands reward redemption options
Chase has announced that Chase Sapphire Reserve® and Chase Sapphire Preferred® Card members can redeem their rewards to "erase" dining, grocery stores and home improvement store purchases much like the "Purchase Eraser" tool allows Capital One® Venture® Rewards Credit Card and other Capital One cardholders to do for travel purchases.
The rewards will erase purchases at the same value as your rewards are valued when redeemed for travel through the Ultimate Rewards portal. That means Chase Sapphire Reserve® cardholders can erase those purchases at a rate of 1.5 cents per point and Chase Sapphire Preferred® Card members can do so at a rate of 1.25 cents per point.
It's not a bad option, especially when you consider that through June 30, 2020, Sapphire Reserve® and Sapphire Preferred® members can also earn 5x the points and 3x the points, respectively, per $1 spent at grocery stores (up to $1,500 spent monthly).
The Pay Yourself Back option will be available May 31-Sept. 30, 2020.
New travel credit options for Chase Sapphire Reserve® members
If you've been having trouble spending out the $300 travel credit on your Sapphire Reserve® card, breathe a sigh of relief. Chase has also announced that the credit now includes gas station and grocery store purchases from June 1, 2020 through the end of the year.
Chase Sapphire Reserve® annual fee reduction for renewals
Chase previously announced a $100 statement credit toward the annual fee for existing Sapphire Reserve® cardholders. You can read more about that here. Now, if your renewal comes up from July 1 through the end of the year, the renewal rate will simply be $450 (instead of paying the full annual fee and then have a $100 credit issued).
Chase Sapphire Preferred® Card and Chase Sapphire Reserve®
Not only is Chase offering more time to earn your signup bonuses, but it's also offering several extra rewards opportunities. For example, if you’re home and seem to be spending more on groceries, you might want to take advantage of Chase’s new rewards opportunities for Chase Sapphire Preferred® Card , Chase Sapphire Reserve® and most other consumer cards.
From May 1-June 30, 2020, card members will earn 5X or 3X total points or miles (depending on your card, see below) per $1 spent on groceries, up to $1,500 spent per month. This applies whether you order online for pickup or have your groceries delivered from eligible grocery stores and grocery delivery services.
Here are a few of the cards eligible for the 5x or 3x points on groceries through June 30, 2020 (up to $1,500 spent monthly).
5x points or miles
3x points or miles
- Chase Sapphire Preferred® Card
- British Airways Visa Signature® Card
- The World Of Hyatt Credit Card
- IHG® Rewards Club Premier Credit Card
- Southwest Rapid Rewards® Premier Credit Card
- Southwest Rapid Rewards® Plus Credit Card
- Southwest Rapid Rewards® Priority Credit Card
- United℠ Explorer Card
Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, Chase Freedom® and Chase Freedom Unlimited®
Chase Sapphire Preferred® Card , Chase Sapphire Reserve® and Chase Freedom® (This card is not currently available on CardRatings) and Chase Freedom Unlimited® (This card is not currently available on CardRatings) card members can earn 5x total points or cash back on up to $500 in combined purchases when you order through DoorDash or Tock. According to Chase, "We’re offering some added value when card members use their card for dining in while staying at home, while also saying thank you for supporting their favorite restaurants during this time."
Earn rewards on groceries with your hotel rewards card
Although you probably aren't traveling much right now, you can use your hotel card and earn rewards to use later. Some of the hotel offers available include the following:
Marriott Bonvoy Bold™ Credit Card and Marriott Bonvoy Boundless™ Credit Card
Earn extra status at your favorite hotel
The World Of Hyatt Credit Card
From April 15 through June 30, 2020, The World Of Hyatt Credit Card members can earn three tier-qualifying night credits toward the next tier status for every $5,000 you spend on your card. You can also earn two tier-qualifying night credits toward the next tier status for every $5,000 you spend on your card.
Redeem Venture miles for food delivery, takeout and streaming services
Capital One® Venture® Rewards Credit Card and Capital One® VentureOne® Rewards Credit Card
Now through June 30, you can redeem your miles earned from your Capital One® Venture® Rewards Credit Card (This card is not currently available on CardRatings) or Capital One® VentureOne® Rewards Credit Card (This card is not currently available on CardRatings) for eligible restaurant delivery, takeout and music and video streaming services. Eligible restaurant delivery purchases include DoorDash, UberEats and Postmates, or directly from restaurants, cafes or fast-food chains. Eligible streaming services include Netflix, Hulu and Disney+.
Also potentially helpful, you can use your Venture miles to pay for your purchases on Amazon.com.