If you are currently in the market for a house this offer may be worth at least looking into. Chase commonly offers miles for mortgages but they have recently made it a little more enticing.
The normal offer includes anywhere from 12,500 miles up to 50,000 miles depending on how much you finance as shown in the chart below. This portion of the offer applies to both refinances and purchase transactions.
Until October 31st 2013, Chase is offering an added bonus of 10,000 miles for taking out a Chase mortgage on a new home purchase. This added bonus only applies to purchases and your application must be submitted by 10/31/13. The 10,000 is not prorated based on mortgage amount as the base offer is. So with this offer you are looking at 22,500-60,000 United miles.
The skeptic in me says be careful. A mortgage/home is one of the biggest, if not the biggest financial decision most people will make in their lives. While miles are great, you should be looking at the more important factors first such as Rate, Points, Fees, etc. All things being equal this is a good deal. If you pay an extra 1/8% on the rate just to get this rate, you really didn’t come out ahead. But if you are in the market, you certainly should consider looking into the offer and comparing with your other options.
If you get a Chase mortgage and sign up for automatic payments from a Chase checking account via Chase Mortgage Cash Back, you can earn cash back up to $500 annually as well!
The 10,000 bonus award miles are available only for new closed purchase mortgages with applications submitted between 9/1/13 and 10/31/13 for one-to-four-family properties with residential mortgages. Refinances, home equity loans, and home equity lines of credit are not eligible for bonus award miles. The 12,500–50,000 award miles are available for new purchase and refinance applications for one-to-four-family properties with residential mortgages, but not for home equity loans and home equity lines of credit. Applications must be submitted by calling 1-866-836-4835. Mortgage applications submitted through a Chase branch or mortgage loan branch office are not eligible to earn award miles from the United MileagePlus program. Rewards cannot be combined with any other offer except Chase Exclusives.
For a complete list of terms and conditions please see the offer page on Chase’s website.