WILMINGTON, DE — Chase is expanding its Ultimate Rewards program with an option that lets eligible cardholders convert points into cash for investment through J.P. Morgan Wealth Management, extending the loyalty program beyond spending-related redemptions and into investment accounts.
The new “Invest Your Points” feature allows customers to redeem rewards for cash and invest the proceeds through an eligible J.P. Morgan Self-Directed Investing account or a taxable investment account managed with a J.P. Morgan advisor.
For customers using Self-Directed Investing, the redemption feature is integrated into the Chase Mobile app and Chase.com, allowing users to manage rewards and investments through the same digital platform.
Once points are converted to cash, customers determine how to invest the proceeds based on their investment goals and risk tolerance.
“Now, they can also put their rewards toward investing and their financial goals, in one connected digital experience,” Chris Reagan, president of Branded Cards at Chase, stated.
The expansion connects two parts of JPMorgan Chase’s consumer financial business by directing credit card rewards toward J.P. Morgan investment accounts. Ultimate Rewards is available across the Chase Freedom, Chase Ink and Chase Sapphire card portfolios.
Cardholders can continue to redeem points through existing options including travel, cash back, statement credits and gift cards, depending on the card.
J.P. Morgan Self-Directed Investing offers unlimited commission-free online trades on thousands of stocks, exchange-traded funds, mutual funds and Treasuries through the Chase Mobile app and Chase.com.
“Our goal is to make investing more accessible, more intuitive and more connected to the way clients already handle their finances,” Paul Vienick, head of Online Investing at J.P. Morgan Wealth Management, stated.
J.P. Morgan is also offering new customers as much as $1,000 for opening and funding an eligible account with qualifying new money.
