It appears you received a rebate for spending (points for spending $XX). That is not taxable. Having said that, for some reason Chase treated the amount as taxable income and reported that to the IRS and sent you a copy of the 1099-Misc. Therefore you need to enter the form 1099-Misc in your tax return.
You might first contact Chase to inquire what exactly the 1099-Misc amount represents. They may explain that it is considered taxable income and give the reason/reference. They might also determine that it should not have been taxable and issue a corrected 1099-Misc effectively cancelling the original. Relieving you of the tax reporting burden.
If you can't come to an agreement with Chase and you still believe the amount is not taxable, then you can as you mention enter a negative amount as "Other Reportable Income" with a reason/description of "Bank card rebate". The IRS may or may not question your determination.
In TurboTax in the "Wages & Income" section:
- Scroll to "Less Common Income"
- "Start/Revisit" Miscellaneous Income
- "Start/Revisit" Other reportable income
- Enter your description and a negative amount to subtract the rebate amount
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