February 23, 2010

Chase Ultimate Rewards: Dinner and Movie Gift Card Deal

If you have a Chase Ultimate Rewards credit card, then you are in luck. When you redeem points for a $25 restaurant gift card, you will receive a free $10 movie gift card. Simply put, Chase is giving you an additional 40% bonus on your redemption. Offer is only good till March 15, 2010, so hurry up or you’ll miss out on this offer. Pick from any of the following dining gift cards, Applebee’s, Brinker (Chili’s), Darden (Olive Garden), Outback, or Friday’s.

Some disclaimers about the deal:

  • Must choose special promotion code $25D&M from the Amount dropdown options during checkout.
  • Gift cards will be issued and mailed within six to eight weeks of the redemption.
  • Brinker gift card is redeemable at Chili’s, Maggionio’s, Macaroni Grill, and On the Border.
  • Darden gift card is redeemable at Red Lobster, Olive Garden, LongHorn Steakhouse, and Bahama Breeze.

In a head to head comparison between the old Freedom Rewards’s $200 cashback plus $50 bonus offer and Ultimate’s dinner and movie gift card deal, the Ultimate deal comes out ahead. For example, assuming if all redeemed points were earned at 1% of purchase, the dinner and movie gift card deal has a real return of 1.40% versus a 1.25% return for Freedom cashback. If we assume all redeemed points were earned at 3% of purchase, the comparison is 4.20% for Ultimate versus 3.75% for Freedom.

Reselling Gift Cards
If you are thinking of redeeming the gift cards to resell on the secondary market, our analysis indicates that of the five restaurant gift card, Brinker and Darden are reselling at a 92% of face value. The AMC Entertainment gift card is reselling at 86% of face value. Reselling both cards could potentially net you about $31, which translates to a six dollar, 24%, cash profit on a $25 redemption.

As a precaution, try reselling the giftcards on Craigslist.org first then on other third party secondary markets, such as eBay and PlasticJungle.

Chase Ultimate Rewards [Chase]

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Comment now » | Posted by Alex | Filed under: Deals

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