Chase Rewards Programs: Auctions and Online Malls

Chase credit cards are known for the prestige they symbolize and for those who carry them, it’s because of their superb credit ratings that they’re able to enjoy the many perks. As such, the Chase Rewards Programs, specifically the Chase Auctions and the Chase Online Mall, certainly add a new level of distinction that many are now saying surpasses the competition.

This week, we take a look at two of these Chase credit card offerings. Perhaps these newer offerings are partly due to the restrictive 2009 CARD Act, but even if they are, you can be sure they’ll be around for quite a while as Chase seeks to remain competitive and ultimately, the consumer’s first choice in the credit card industry. You decide if it’s worth it to carry a Chase credit card:

Chase Ultimate Auctions

In this Chase program, instead of using cash, you’re allowed to use your rewards points to bid on various items via an online auction. Those items are in the form of gift cards from an impressive list of companies, including Lowes Best Buy and Home Depot. The goal is to win the auction using as few rewards points as possible – exactly the way you would with traditional auctions where cash is the currency. Usually, there are just a few ongoing auctions at a time, though it’s not uncommon to find yourself bidding on golf lessons from a PGA instructor or other unexpected services and goods found nowhere else.

The one drawback is that the online auctions are only open to Chase Freedom, Chase Sapphire and the family of Ink by Chase credit cards. If you don’t currently carry one of these cards, applying is easy and you’ll get an instant decision when you apply online. The auctions generally run for about three weeks, so there’s always the opportunity to jump in, even at the last minute.

Chase Ultimate Rewards Mall

The first thing you’ll notice when you enter the virtual mall is that all of your purchases qualify for points earnings. In fact, every dollar spent will usually earn a 10 bonus point return, plus additional points based on the merchant. Some of the 400-plus retailers include Land’s End Canvas, where you’ll earn three points for every dollar spent; FTD Florists, which earns ten points for every dollar and Sears, which allows you a seven to one ratio in points versus dollars spent. Not only that, but you’ll find special discounts at the Chase Ultimate Rewards Mall that you won’t find anywhere else – including the manufacturer’s or retailer’s websites.

Be sure to check out the weekly deals (where you’ll discover even deeper discounts) and subsections that follow the seasons and holidays. For instance, June’s promos focused on graduation and Father’s Day while it’s likely October or November will focus on holiday themes. Make no mistake: this online mall offers the same products you find at a large retailer. You’ll find books, music, jewelry, office supplies, gourmet gift baskets and computers – just to name a few.

While several credit card companies offer their own versions of an online mall, it’s the seemingly endless opportunities to earn points while saving money that puts the Chase family of credit cards ahead of the pack. Keep in mind that this is just a brief overview of these offerings. You’ll want to carefully review the terms and conditions before deciding to apply for any credit card.

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