New bonus opportunities for Chase cards in May — The Points Guy


Editor’s note: This is a recurring post, regularly updated with new information and offers.

Chase cardholders will be happy to know that a popular promotion has returned — perfect timing if you’re looking for gifts for Mother’s Day, Father’s Day or upcoming graduations.

The Month of More promotion includes bonuses on both the earning and redemption side, with elevated rates through the Chase shopping portal alongside extra value when using your points for Apple products and gift cards.

Here’s a detailed look at the available offers in the Month of More promotion.

Eligible Chase cards for this promotion

Both Chase cash-back and premium cardholders are getting some love this month, with this promotion running through May 31, 2023. The following cards are eligible:

Chase Freedom and Freedom Unlimited. JOHN GRIBBEN/THE POINTS GUY

With the Freedom cards, your points are typically worth just 1 cent each for any of the redemptions we’ll cover in this promotion. However, the Month of More offers 10-15% more value, making your points worth up to 1.15 cents apiece instead.

To take advantage of the new options detailed below, simply log into the Ultimate Rewards portal.

Up to 50% bonus for Apple products

If you’ve been eyeing Apple products, now could be a great opportunity to jump on it. When you use your Chase points through the Ultimate Rewards portal, you can now enjoy additional value at Apple.

Here’s what the means for your points:

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  • Chase Sapphire Reserve: 50% more value (1.5 cents per point).
  • Chase Sapphire Preferred and Ink Business Preferred: 25% more value (1.25 cents per point).
  • Chase Freedom products, Ink Business Cash and Ink Business Unlimited: 10% more value (1.1 cents per point).

Up to 15% more value on gift cards

You can also enjoy a redemption bonus on gift cards from select brands.


You’ll enjoy up to 15% in extra value when you use your Chase points for discounted brands like Applebee’s, Bath & Body Works, Home Chef, Home Depot, PetSmart and more.

A $100 gift card would typically cost 10,000 points, but you could get one for as little as 8,500 points with this discount.

Note that, unlike the Apple offers, this discount is consistent across all participating cards.

Shop through Chase for up to 10% bonus cash back

If you’re shopping online, you should always check portals for opportunities to earn bonus points. Right now, the Chase shopping portal has bonus earning for up to 10% cash back on brands like these when using a participating Freedom card:

  • Athleta (5% cash back).
  • Nike (10% cash back).
  • Lowes (10% cash back).
  • Sephora (10% cash back).
  • Walmart (5% cash back).

This promotion works as if you were shopping through an airline portal. Head to ‘Earn Bonus Points’ on the Ultimate Rewards portal and shop through the link of the respective retailer to earn these bonus points this month.

Related: How to maximize points and miles on Mother’s Day purchases

Is it worth it?

Normally, your Ultimate Rewards points are worth 1 cent each for non-travel redemptions. However, if you also carry the Chase Sapphire Preferred Card or the Chase Sapphire Reserve, your Ultimate Rewards points can be worth up to 2 cents each according to TPG’s valuations. That’s because you can unlock transfers to Chase’s travel partners, which include 11 airline and three hotel rewards programs.


During the month of May, Freedom cardholders can redeem their points for 1.1 cents each on Apple products and up to 1.15 cents apiece on select gift cards. That’s far less value than what you will typically obtain using your points for travel. However, you need another card to unlock this option; simply having a Freedom card doesn’t allow you to use Chase’s transfer partners.

If you don’t have a card that unlocks the ability to transfer your points or if you don’t have any travel coming up, the best time to redeem your points for gifts is when you can use them at increased valuations. Remember that you can combine Ultimate Rewards points between accounts if you need a few more for a redemption — or want to pool your points under a card that offers a higher value.

The question ultimately comes down to whether you are happy to use your points in a way that saves cash when purchasing items online or whether you prefer to hold your points until you can use them for maximum value. Depending on your answer, you’ll know whether this promotion is a good time for you to use your points or not.

And if you don’t currently have a higher-end Chase card, now could be a great time to add the Chase Sapphire Preferred Card to your wallet, as it’s currently offering an elevated welcome offer of 80,000 points after you spend $4,000 on purchases in the first three months from account opening.

Read more: Chase Sapphire Preferred credit card review: 80,000-point bonus for a top travel card

Bottom line

If you have a card in the Chase Ultimate Rewards family, you can take advantage of higher points value when you redeem for Apple products or gift cards through the Chase Ultimate Rewards store this month. Plus, you can earn up to 10% bonus cash back when you shop at select stores through the Chase shopping portal.

These may not be the most lucrative redemption options for your Chase Ultimate Rewards, but they can go a long toward helping you save on your Mother’s Day and graduation gift shopping this month.


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