Avoid Chase Leisure Rewards for your debit card
Chase is pushing their Chase Leisure Rewards for your debit card which runs $25/year. When one customer signed up the teller convinced him that he would be getting hundreds of dollars back per year, making it well worth it. So he started using his debit card for everything expecting big rewards. After three months, his rewards added up to a sum total of four dollars.
You might want to avoid this “deal”.
Fees & charges | admin June 11, 2010
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By WiseGuy, July 27, 2011 @ 9:51 pm
Regardless of how you earn your points, I want to offer a word of caution before you spend them. To anyone considering buying an actual product (not including gift cards) from the ultimate rewards website, make sure you compare the price of what your points are worth to a simple Google search of what that product is being sold at on other places.
For example, I currently have 24,360 points from my Chase Freedom credit card. If I decide to take the points as cash to myself, the dollar amount is equal to the number of points divided by 100. Therefore, I will receive $243.60. Think the points convert the same way when you buy products like electronics or other merchandise? Wrong. I was looking at a 22″ Sony Bravia TV through the ultimate rewards site. Cost: 36,900 points. Should be $369, huh? Seems a little high to me, especially for only a 22″ at 720p resolution. Took 30 seconds and googled the same TV, and found it on HSN.com for $259. Whats the deal with that? I suspect they mark things up because they get royalties on passing products along to retailers through their website.
Basically my advice is use you points to pay yourself cash and then go find what you want elsewhere. You’re buck will go a lot further if you do, and thats something we can all use right now.