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Chase is now offering 60,000 points on a checking account, but there’s a big catch

MarketWatch
Chase is now offering 60,000 points on a checking account, but there’s a big catch

If you have $75,000, Chase has good news for you. Chase JPM, -0.02%   announced Thursday it is offering 60,000 points to customers who use a new “premium checking account,” called Sapphire Banking. Each Chase point is worth about two cents, according to The Points Guy, a website that values points each month. That makes the bonus worth about $1,200. The new account is piggybacking off the success of Chase’s credit cards, the Sapphire Reserve and Sapphire Preferred, the company said. We want to create similar value for a bank account under the Sapphire brand,” said Jennifer Piepszak, CEO of Chase Card Services. Of course, there’s a catch. Customers must have at least $75,000 in deposits, or in