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Valued Contributor
Posts: 1,178
Registered: ‎10-17-2014

Chase targeting mortgage loans to Sapphire card holders

http://www.marketwatch.com/story/chase-is-offering-100000-credit-card-rewards-points-for-new-mortgag...

 

This is quite interesting but I don't believe it will bring in the loans they are expecting from the offer.



Regular Contributor
Posts: 245
Registered: ‎02-24-2017
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Re: Chase targeting mortgage loans to Sapphire card holders

Interesting and I do agree with you...at least I woudn't get a mtg with them just for the points...

Valued Contributor
Posts: 1,178
Registered: ‎10-17-2014

Re: Chase targeting mortgage loans to Sapphire card holders

Any logical person buying a home is interest rate shopping and 100K points does not sway that.

 

I did find the 900,000 reserve cards issued very interesting but it sucks because I don't have statistics of a prior issued card to compare it to.  It sounds high at first but for all I know it could very well be average numbers.  Never underestimate the effect of the myFICO and FT crowd!



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Posts: 16,930
Registered: ‎12-30-2011

Re: Chase targeting mortgage loans to Sapphire card holders


MissingCalifornia wrote:

Any logical person buying a home is interest rate shopping and 100K points does not sway that.

 

I did find the 900,000 reserve cards issued very interesting but it sucks because I don't have statistics of a prior issued card to compare it to.  It sounds high at first but for all I know it could very well be average numbers.  Never underestimate the effect of the myFICO and FT crowd!


Depending on the loan type you are shopping for rates are within .25% of each other; also FWIW my experience with Chase mortgage was just fine although they were doing a small rewards (1%) for autopay from a Chase deposit account at that point... when they sold my loan they gave me a check of a couple thousand dollars as the expected rewards.

 

If all other things are equal, or if you don't know any better, if someone is offering you call it $1500 and you aren't getting that from others, and if the rate is the same, why not look at Chase over others?

 

I don't know that it'll make any material difference, but it's an interesting experiment in marketing.

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Re: Chase targeting mortgage loans to Sapphire card holders

MissingCalifornia great read! Nice catch.
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