If you have a one of the versions of a Chase Freedom card or a Chase Ink Business Preferred or Business Plus you have new options as to how to redeem your points. It has been reported that you will have these options through December 31, 2022.
Freedom Cards
In general, with any of the Freedom cards, you can redeem your Chase Ultimate Rewards points as cash back at a rate of 1 cents per point. But starting on October 1, 2020, you can redeem points for 1.25 cents each to pay back charitable contributions (American Red Cross, Equal Justice Initiative, Feeding America, Habitat for Humanity, International Medical Corporation, Leadership Education Fund, NAACP Legal Defense and Education Fund, National Urban League, Thurgood Marshall College Fund, United Negro College Fund, United Way, World Central Kitchen). You can use the new feature on transactions up to 90 days prior.
Ink Cards
With the Chase Ink Business Preferred or Plus cards, you can redeem your Chase Ultimate Rewards points for travel at a rate of 1.25 cents per point. However, starting on October 1, Chase is offering to allow you to Pay Yourself Back for all or a portion of existing purchases in select categories AT 1.25 CENTS PER POINT. These new categories are select online advertising, shipping expenses and internet/cable/phone thru 12/31/21 and charitable contributions thru 12/31/22. (American Red Cross, Equal Justice Initiative, Feeding America, Habitat for Humanity, International Medical Corporation, Leadership Education Fund, NAACP Legal Defense and Education Fund, National Urban League, Thurgood Marshall College Fund, United Negro College Fund, United Way, World Central Kitchen). You can use the new feature on transactions up to 90 days prior.
With the Ink cash cards, you can redeem at a rate if 1.10 cents per point thru 12/31/21 for internet/cable/phone and at 1.25 cents per point for charitable contributions thru 12/31/22.
