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Chase Ultimate Rewards Apple Promotion
Sapphire Reserve Members - Points are worth 50% more when redeeming for Apple (33% discount)
Sapphire Preferred Members - Points are worth 25% more when redeeming for Apple (20% discount)
Freedom card Members - Points are worth 5% more when redeeming for Apple
June 1 - June 30th
ALL Apple Products
Optional split tender
https://www.chase.com/personal/credit-cards/ultimate-rewards [chase.com]
http://ultimaterewards
Sapphire Preferred Members - Points are worth 25% more when redeeming for Apple (20% discount)
Freedom card Members - Points are worth 5% more when redeeming for Apple
June 1 - June 30th
ALL Apple Products
Optional split tender
https://www.chase.com/personal/credit-cards/ultimate-rewards [chase.com]
http://ultimaterewards
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I understand that during the pandemic people needed to cash in points to pay bills, but redeeming on Apple products isn't a good value. Unless you don't plan to travel ever, it's always better to hold on to these points so you can maximize them in the future, IMO.
Firstly, let me just say, that redeeming via pay yourself back or using for the apple directly, is at best a value of 1.5 cpp. This is decent, but not the best. As others have said, you can of course get better value via hyatt, or transferring to airline miles and redeeming for business/first class flights if you can manage it.
In this particular situation (using points to buy apple stuff directly vs buying gift cards and paying yourself back), I personally feel it is better to do the pay yourself back for a couple reasons.
1. You can use the gift card value later, like on the next iPhone that comes out on September. You don't have to buy only what's available now. This is the main benefit to me.
2. Yes, $1 in extra points (per $100 spend) isn't that much, but it is something. Multiply by 10 you get an additional 1000 points, which would be worth $15 with csr pay your self back. It's just a little bonus.
It's better to buy apple gift cards from a supermarket, and pay yourself back at the same rate.
"Extends the time period of the U.S. manufacturer's warranty by one additional year, on eligible warranties of three years or less when item is purchased with an eligible Chase card or with rewards earned on an eligible Chase card"
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It's better to buy apple gift cards from a supermarket, and pay yourself back at the same rate.
I understand that during the pandemic people needed to cash in points to pay bills, but redeeming on Apple products isn't a good value. Unless you don't plan to travel ever, it's always better to hold on to these points so you can maximize them in the future, IMO.
1. Turnaround time: T&C's note 3-4 weeks shipping and handling time. IIRC from the last time this deal was around, people noted that as being pretty accurate. If someone needs (or 'needs') their device now,
2. Selection: If someone simply wants to get an iPad or some Airpods, this isn't really an issue. If instead they are looking for a Macbook Air, they better be happy with the 8gb RAM/base GPU option/256 or 512gb SDD, b/c that is the only set of configs that are offered.
3. Discount eligibility/Refurb store. Many people are eligible for things like the Apple education discount (and it doesn't seem like Apple even really checks eligibility for online orders...) or work discounts, which can be taken advantage of when paying via gift card. Depending on the device and how much one values the CC warranty, they might come out ahead doing this - for the iPad air for example, the math points to doing the Gift Cards > PYB over this deal. Same with the Apple refurbished site. Particularly if one is looking for a device released in the past 6 months-2 years, that is typically the sweet spot of getting value for an Apple purchase.
In this particular situation (using points to buy apple stuff directly vs buying gift cards and paying yourself back), I personally feel it is better to do the pay yourself back for a couple reasons.
1. You can use the gift card value later, like on the next iPhone that comes out on September. You don't have to buy only what's available now. This is the main benefit to me.
2. Yes, $1 in extra points (per $100 spend) isn't that much, but it is something. Multiply by 10 you get an additional 1000 points, which would be worth $15 with csr pay your self back. It's just a little bonus.
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For example, pre-COVID, my wife and I flew from the west coast to Europe on a biz class redemption. 57.5k AA miles each, instead of 30k each for a coach ticket. Did I have a problem redeeming an extra 27.5k miles/each for that flight? No. Would I have paid the ~ $2k/each cash price of a biz class ticket instead of ~ $400 in coach? No. Would I have paid the cash value of that 27.5k miles difference? At 1cpp, without a doubt. At 1.5cpp, the same. At 2cpp, as a special occasion yes.
You don't have to consider the pure theoretical CPP value of a premium class ticket as accurate to still give those redemptions some extra weight. Especially if you would pay extra for some kind of upgraded seating anyways.