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 okay, 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.
AmEx offers statement credit for shopping qualified small businesses
American Express has announced that consumer and business cardholders are eligible for up to $50 in statement credits when they use their American Express card to make purchases with qualifying small businesses through Sept. 20, 2020.
Cardholders can receive $5 in statement credit up to 10 times when you support a qualifying small business with at least a $10 purchase. You must enroll your card by Aug. 23, 2020, to qualify.
The offer is available on all U.S.-issued American Express consumer and business cards, including on AmEx's popular hotel or airline co-branded cards so whether you're walking around with The Hilton Honors American Express Business Card, Blue Cash Everyday® Card from American Express (This card is not currently available on CardRatings), The Platinum Card® from American Express (This card is not currently available on CardRatings) Hilton Honors American Express Surpass® Card, or another AmEx card in your wallet, you could take advantage of this offer as you do your part to support your local small businesses.
You can search for eligible small businesses through the American Express Shop Small® Map.
Chase expands reward redemption options
Information related to Chase Sapphire Preferred® has been collected by CardRatings and has not been supplied or reviewed by the card issuer.
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).
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
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 September 30, 2020, you can redeem your miles earned from your Capital One® Venture® Rewards Credit Card or Capital One® VentureOne® Rewards Credit Card 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.