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TheStreet Open House

Chase Eliminates Expiration On Cash Back Reward Points For Select Military Credit Cards

Stocks in this article: JPM

Chase Card Services, a division of JPMorgan Chase & Co. (NYSE: JPM), today announced that cash back rewards earned by America’s servicemembers on select Chase military credit cards will no longer expire. Military cardmembers also now have more reward redemption options than ever before and two enhanced websites -- www.chase.com/militarystarrewards and www.chase.com/militaryfreecash -- to view all reward options available.

These new and improved benefits are automatically and immediately available to MILITARY STAR® Rewards MasterCard®, Marine Corps Community Service (MCCS) MasterCard®, Army Morale, Welfare, Recreation (MWR) MasterCard®, Air Force Club MasterCard®, and Navy MWR MasterCard® cardmembers.

“Our military is committed to the safety of our nation, and, in return, Chase is committed to making the financial lives of our valued military customers as easy as possible,” said Emelie Smith Calbick, general manager, Chase Card Services. “Our cardmembers told us that removing the points’ expiration would provide greater peace of mind, and now they will get the most out of their purchases and reward redemption options.”

Reward redemption options have been enhanced to include cash back as a statement credit, check, or deposit directly into a Chase banking account in any denomination starting as low as $20. The redesigned reward websites allow military cardmembers to redeem rewards anytime, view all redemption options, even plan a vacation with Travel Rewards.

Chase Military Cardmembers Continue to Receive Valuable Benefits

Last year, Chase announced that the same select military credit cards noted above would offer unlimited cash back for all purchases and would not charge foreign transaction fees. Cardmembers earn 2 percent cash back rewards at Army MWR, Air Force Services and MCCS Merchant locations, including Exchanges and Commissaries and 1 percent everywhere else. There is no cap on the amount of cash back rewards cardmembers can earn. In addition, with no foreign transaction fees, cardmembers can save 3 percent in fees with every international purchase.

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