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July 9, 2008

Chase launches new credit card feature

by Richard Kilner

Story link: Chase launches new credit card feature

Chase Card Services, a division of JPMorgan Chase, has launched a new statement credit feature to its Chase Freedom(SM) credit card.

Customers will be permitted to put whatever they like on their card, and apply reward points to the subsequent statement allowing them to spend reward points as if they were cash.

The feature has been designed to allow greater flexibility for reward points.

Chase Card Services’ general manager, Joe Venuti, explains that the firm wants reward points to be spent like currency.

For every dollar spent with Chase Freedom, 1 reward point is gained for most purchases, with 3 being granted for buying on the top three of 15 Everyday spend categories.

Accumulated reward points can be redeemed at $50 for cash, or 200 points for the statement credit.

Customers are also given the opportunity to use their points to contribute to World Wildlife Foundation or the ASPCA® (American Society for the Prevention of Cruelty of Animals).

 

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