Chase intros real-time mobile rewards redemption
Eligible retailers include Gap, Target, Lowe's, Starbucks, Toys R Us, TGI Friday's and Regal Entertainment Group.
Chase Wednesday announced the launch of the Chase Freedom mobile app for cardholders, which gives cardholders the ability to redeem their cash back rewards and pay at the register at 30 merchants, including Gap, Target, Lowe's, Starbucks, Toys"R"Us, TGI Friday's and Regal Entertainment Group.
Once the app is downloaded for either Android or iOS devices, cardholders enter their existing Chase user ID and password. Cardholders then can redeem by selecting the merchant and enter the amount of rewards to use or pay using a custom e-gift card created directly on their device. Users then present their phone at checkout to complete the purchase, according to a press release.
If a cardholder doesn't have enough cash back rewards to cover an entire purchase, they can pay the difference using their Chase Freedom card or another form of payment. Cardholders can also store unused e-gift cards right in the app to be used later, according to the announcement.
In addition to redeeming cash back rewards on the spot, the Chase Freedom Mobile App enables cardholders to:
- Activate the quarterly 5 percent bonus cash back for their Chase Freedom card right from their phone.
- Use Chase QuickPaySM within the app to send or receive money from nearly anyone using an email address or a mobile number.
Cardholders can still perform account-related tasks via the app.
"Chase Freedom cardholders earn unlimited 1 percent cash back on all purchases and can activate to earn 5 percent total bonus cash back on up to $1,500 in purchases each quarter at a variety of retailers," said Pam Codispoti, president of Chase Consumer Branded Cards.