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The Chase Flexible Rewards Platinum Visa® Card was last reviewed on 10th July 2007
Summary - The Chase Flexible Rewards Platinum Visaź Card is a great reward card for those looking to earn reward points for free airline tickets. This is because it has more ways to redeem points for airline tickets than any other reward program. The Flexible Rewards program comes with the regular Chase Platinum Visa or Mastercard as well. Find out more about this card.
Reward Formula - The Chase Flexible Rewards Visa® Card is a general reward program credit card. You earn one point for every dollar you spend. You can earn up to 5,000 points in a month and up to 60,000 points in a year. You will earn 1,000 points after your first purchase. Points can be redeemed for travel (airline tickets, hotels or car rentals), merchandise, gift cards or cash rebate.
Flexible Rewards - The most attractive feature of the Chase Flexible Rewards Visa®
Card is the flexibility of its reward program especially in the area of airline travel. As a brief background, there are two extreme versions of airline rewards in a reward program. Programs like American Express membership rewards allow you to transfer points to actual frequent flyer programs itself. Most other credit card reward program allow you to redeem points for airline tickets, but you loose the flexibility in the choice of airlines.
3 Ways to Redeem Airline Tickets
The Flexible Rewards is unique in that there a three ways to redeem points for airline tickets.
Fly any airline and any flight
The first method is the conventional method where you exchange points for a free ticket. Unlike other programs like Citi's ThankYou Redemption Network or Bank of America's Worldpoints Program, you can choose any airline and any flights. With the other programs, you tell the travel agent your preferred flight and they will see if the program has an agreement on the flight. So you may get the flight you want or you may have to take a longer flight with stopovers! But with the Chase Flexible Rewards
program, you get the flights you want. However, unlike other programs, you have to abide by the restrictions, which is booking 21 days in advance and staying a Saturday night. Other programs allow you to use more points for to waive the restriction, but Chase is quite strict on this. The other thing you have to be aware of is that you can only redeem points for coach tickets. If you wish to redeem for business class tickets, then you should get the Chase Travel Plus Platinum Visaź, which has identical program as the Chase Flexible Rewards but lets you redeem for business class tickets. There is however an annual fee of $30.00.
Exchange Points for Continental Airline Flights
Alternatively, the flexible rewards allow you to redeem tickets in Continental Airlines, which require less points than the former method.
Exchange Points for UA, Continental OnePass Miles or BA Miles
Or you can choose to transfer points to United Airlines Mileage program, Continental OnePass Miles or British Airways miles. Hence, this card may offer a better alternative for Continental OnePass or United Mileage Plus members.
(Note that this information cannot be found on the web unless you are a cardholder, which I am!)
Fee - There is no annual fee. The apr is either prime rate plus 5.99%, 9.99% or 14.99% depending on your credit profile. If you qualify for elite or premium pricing, you will get an introductory 0% apr for both purchases and balance transfers. If you qualify for standard pricing, you will get a 0% apr for 3 months for balance transfer only. You have to pay a balance transfer fee even during the introductory period. The Chase Flexible Rewards Platinum Visa® uses the average daily balance method (including new purchases) to calculate your monthly balance.
Verdict - I personally have this card and would recommend the Chase Flexible Rewards Platinum Visaź Card to those who would like to use points for airline tickets as it has more choices than other credit card reward programs. United Mileage Plus members who do not want to pay the $60.00 in annual fee for the United Mileage Plus Visa should consider this card as an alternative instead. Continental OnePass members who want a no annual fee airline card should also consider this card.
Positives
Flexibility in redeeming points for airline ticketsNo annual fee
| Chase Flexible Rewards Platinum Visa® Card |
| Reward Formula |
| Reward Formula |
Earn 1 point for every dollar you spend |
| Caps on Points |
Earn up to 5,000 points per month or 60,000 per year |
| Cost/Fees/Interest rates |
| Introductory rate |
0% fixed APR for up to 6 billing cycles (purchases)
0% fixed APR between 3 to 6 months (balance transfers) |
| Annual Fees |
No annual fee |
| Purchase APR |
Prime Rate plus 3.99%, 7.99% or 14.99% |
| Balance Transfer APR |
Prime Rate plus 3.99%, 7.99% or 14.99% |
| Cash Advance APR |
Prime Rate plus 15.99% |
| Penalty/Default Rate |
Prime Rate plus 23.99% |
| Min Finance Charge |
$1.00 |
| Grace Period |
20 days |
| Balance Calculation Method |
Average Daily Balance (including new purchases) |
| Balance Transfer Fee |
3% min $5.00 max $75.00 |
| Cash Advance fee |
3% min $10.00 |
| Foreign Currency Conversion fee |
3% |
| Over-the-credit-limit fee |
$39.00 |
| Late Payment fee |
$15.00 - up to but not including $100.00
$29.00 on balances of $100.00 up to, but not including, $250.00
$39.00 - more than $250.00 |
Apply for the Chase Flexible Rewards Platinum Visaź Card
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