Score a Free iPhone with Chase Credit Card Rewards Points

Chase credit card customers can get a free iPhone, iMac or other Apple product for less points, now through November.

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Are you craving a free iPhone, MacBook, iMac or AirPods? If you have a stash of Chase Ultimate Rewards® points, you can purchase select Apple products using your points with an added value boost. This limited-time offer expires on November 30, 2023, while supplies last.

So, is the iPhone genuinely free? Technically, no, because you had to pay an annual fee for your Chase Sapphire Preferred® ($99) or Sapphire Reserve® credit card ($550). Still, this is as close to free as you may get, especially if you snagged a sweet sign-up bonus on your card.

How to score a free iPhone

Here's how the program works. 

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Chase's Ultimate Rewards points are typically worth one cent each for cash back. So, if you wanted to buy an iPhone worth $999 (not through the rewards program), you could redeem 99,000 points and then use that $999 cash redemption to purchase your phone.

If you are a Chase Sapphire Reserve cardholder, your Ultimate Rewards points are worth an additional 50% under the promotion. So, for example, instead of "buying" a $999 iPhone for 99,000 points, you could get that phone for 66,000 points. 

If you are a Chase Sapphire Preferred cardholder or a Chase Ink Preferred or Chase Ink Plus Business cardholder, your Ultimate Rewards points are worth an additional 25%. So, a $999 iPhone would only require 79,920 points instead of 99,000 points.

Log in to the Ultimate Rewards portal through Chase's app or website to participate in this promotion. Click on the "benefits & travel" icon, and then under "more," find the Apple® Ultimate Rewards Store®. Select the product you wish to purchase, ensuring you have sufficient points in your account, and finalize the transaction.

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Apple iPhone: Points needed to purchase, by card
iPhone ModelBase Price (USD)Sapphire Reserve (50% Boost)Sapphire Preferred (25% Boost)*
iPhone 15 Pro$99966,60079,920
iPhone 15 Pro Max$1,19979,93395,920
iPhone 15$82955,26766,320
iPhone 15 Plus$92961,93374,320
iPhone 14$72948,60058,329
iPhone 14 Plus$82955,26766,320
iPhone 13$629+41,933+50,320+
iPhone SE$429+28,600+34,320+

Source: Chase Bank, The Points Guy. Not all participating cards are listed. *Chase Ink Business Preferred and Chase Ink Business Plus cardholders are also eligible for the 25% boost.

Several other Chase cards participate in this promotion but provide only a 10% boost. These cards include the Ink Business Cash card, the Ink Business Unlimited Credit Card, the Chase Freedom Unlimited card and the Chase Freedom Flex card, according to The Points Guy.

Other Apple products

The program extends beyond the iPhone to AirPods, iMacs and other popular Apple products. The table below lists some examples. To see the full list of products, log in to the Ultimate Rewards portal. 

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Other Apple Products: Points needed to purchase
Apple ProductPriceSapphire Reserve (50% Boost)Sapphire Preferred (25% Boost)*
AirPods Pro 2nd Gen$24916,60019,920
AirPods 3rd Gen$169+11,26713,520
Apple Watch Series 9$399+26,60031,920
Apple Watch SE$249+16,600+19,920+
MacBook Air M1 Chip$99966,60079,920
MacBook Air M2 15"$1,29986,600103,920
MacBook Pro 14"$1,599106,600127,920
iMac 24"$1,299+86,600+103,920+
iPad Pro$79953,26763,920+
Apple HomePod$29919,93323,920

Source: Chase Bank, The Points Guy. Not all participating cards are listed. *Chase Ink Business Preferred and Chase Ink Business Plus cardholders are also eligible for the 25% boost.

Is this really a good deal?

The only downside of this promotion is that you might be able to get more for your Ultimate Rewards points in other ways. For example, when you transfer your points to a partner airline or hotel loyalty program, you may get more than the 1.5 or 1.25 cents offered in this promotion. Some transfers will deliver over two cents per point, according to Bankrate. If you have a big trip coming up, you might pass on this promotion.

On the other hand, if you have accrued a lot of Ultimate Rewards points and don't plan to travel, this may be a great opportunity to spend your points on a tech gift for you or your family.

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Ellen Kennedy
Personal Finance Editor,

Ellen writes and edits personal finance stories, especially on credit cards and related products. She also covers the nexus between sustainability and personal finance. She was a manager and sustainability analyst at Calvert Investments for 15 years, focusing on climate change and consumer staples. She served on the sustainability councils of several Fortune 500 companies and led corporate engagements. Before joining Calvert, Ellen was a program officer for Winrock International, managing loans to alternative energy projects in Latin America. She earned a master’s from the U.C. Berkeley in international relations and Latin America.