New bonus opportunities for Chase cards in May

Chase Freedom cardholders will be happy to know that a popular promotion has returned — perfect timing if you’re looking for gifts for Mother’s Day, Father’s Day, upcoming graduations or just for the Summer season.

The Freedom Month of More promotion includes bonuses on both the earning and redemption sides, with elevated rates through the Chase shopping portal and extra value when using your points for Apple products and gift cards. Cardmembers can cash back on purchases all month long.

Here’s a detailed look at the available offers in the Month of More promotion.

Eligible Chase cards for this promotion

Chase Freedom cardholders are getting some love this month, with this promotion running through May 2024. The following cards are eligible:

With the Freedom cards, your points are typically worth just 1 cent each for any of the redemptions we’ll cover in this promotion. However, the Month of More offers 10-15% more value, making your points worth up to 1.15 cents apiece instead.

Simply log into the Ultimate Rewards portal to take advantage of the new options detailed below.

The information for the Chase Freedom, Chase Freedom Student and Chase Freedom Rise has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Up to 10% bonus for Apple products

If you’ve been eyeing Apple products, now could be a great opportunity to jump on it. When you use your Chase points through the Apple Ultimate Rewards store, your points are worth 10% more — making your points worth 1.1 cents apiece.

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Up to 15% off gift cards

If you’re looking to purchase gift cards, you’ll enjoy up to 15% off when you use your Chase points. This works at popular brands like Belk, Dominos, Chilis, Nordstrom Rack and more. The following brands below have discounted rates on gift cards:

Bath & Body Works (15% off)
Belk (15% off)
Chili’s (15% off)
Domino’s (15% off)
Fandango (10% off)
Gap Options (15% off)
Macy’s (15% off)
Maggiano’s (10% off)
One4all (10% off)
On the Border (10% off)
Outback Steakhouse (10% off)
Panda Express (10% off)
Panera (15% off)
Petco (10% off)
Red Robin (10% off)
REI (10% off)
Uber (10% off)
Uber Eats (10% off)

A $100 gift card at Belk would typically cost 10,000 points, but you could get one for as little as 8,500 points with this discount.

Shop through Chase for up to 15% bonus cash back

We always recommend you check shopping portals for opportunities to earn bonus points. Right now, the Chase shopping portal has bonus earnings of up to 15% cash back on brands like Macy’s, Bloomingdales, Nike and more. These bonus cash back brands are:

Bed Bath & Beyond (5%)
Bose (5%)
Bloomingdale’s (6%)
Macy’s (6%)
Nike (6%)
Proflowers (15%)
QVC (6%)
Samsung (10%)
Sephora (6%)
Under Armour (8%)

This promotion works as if you were shopping through any online portal. Head to ‘Earn Bonus Points’ on the Ultimate Rewards portal and shop through the link of the respective retailer to earn these bonus points this month.

Is it worth it?

Normally, your cash back is worth 1 cent each for redemptions. However, if you also carry the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve® Card, your Ultimate Rewards points can be worth up to 2.05 cents each, according to TPG’s valuations. That’s because you can unlock transfers to Chase’s travel partners, which include 11 airline and three hotel rewards programs.

During May, Freedom cardholders can redeem their points for 1.1 cents each on Apple products and up to 1.15 cents apiece on select gift cards. That’s far less value than what you typically obtain using your points for travel. However, you need another card to unlock this option; simply having a Freedom card doesn’t allow you to use Chase’s transfer partners.

If you don’t have a card that unlocks the ability to transfer your points or don’t have any travel coming up, the best time to redeem your points for gifts is when you can use them at increased valuations. Remember that you can combine Ultimate Rewards points between accounts if you need a few more for a redemption — or want to pool your points under a card that offers a higher value.

The question ultimately comes down to whether you are happy to use your points in a way that saves cash when purchasing items online or whether you prefer to hold your points until you can use them for maximum value. Depending on your answer, you’ll know whether this promotion is a good time to use your points.

And if you don’t currently have a higher-end Chase card, now could be a great time to add the Chase Sapphire Preferred Card to your wallet, as it currently offers 75,000 bonus points after spending $4,000 on purchases in the first three months from account opening.

Bottom line

If you have a card in the Chase Freedom family, you can take advantage of higher points value when you redeem for Apple products or gift cards through the Chase Ultimate Rewards store this month. Plus, you can earn up to 10% bonus cash back when you shop at select stores through the Chase shopping portal.

These may not be the most lucrative redemption options for your Chase Ultimate Rewards, but they can go a long toward helping you save on your Mother’s Day and graduation gift shopping this month.

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