Monday, June 23rd, 2014, 11:30 am
Update: This offer will end on June 30!
The Chase Freedom Visa now comes with a 20,000 point signup bonus. That bonus is marketed as $200 cash back as points can be used for cash back, though you would be wiser not to. This is double the previous signup bonus and is available for a limited time only.
Additionally it also offers another 2,500 bonus points (marketed as $25 cash back) for adding a free additional user.
DDF members are already reporting success getting matched from the 10K offer to the 20K offer by sending a secure message. Typically if you applied within the past 90 days Chase will match your bonus to the current bonus offer.
Chase Freedom is one of the best no annual fee cards. It’s an easier card to get that most other Chase cards as it doesn’t require a Signature level $5,000 credit line. The real beauty of the card is in the quarterly 5% categories. Again, while they call it 5% cash back you’ll really get 5 Ultimate Rewards points per dollar spent which can be worth much more than 5% cash. For $1,500 in spending per quarter you will earn at least 30,000 Ultimate Rewards points (7,500 points per quarter at 5 points per dollar spent).
The 5 point categories for the rest of 2014 are as follows:
Q2: Restaurants and Lowe’s.
Q3: Gas stations and Kohl’s.
Q4: Amazon.com, Zappos.com, and Department stores.
So go out to eat from now until June 30th and you’ll earn a whopping 5 per dollar spent. Buy a gift card from your favorite eatery to lock in savings.
Or buy gift cards from Lowe’s. See this post for gift cards that they sell for all kinds of other stores where you’ll be able to earn 5 or 5.5 points per dollar.
I coined the term “Chase Trifecta” several years ago and it still applies today. It refers to having a Chase checking account, a Chase Freedom card, and your choice of either a Chase Sapphire Preferred card, Chase Ink Plus Card, or Chase Ink Bold card.
The Freedom card earns a 10% annual point dividend every February on all points earned during the previous calendar year if you have a Chase checking account. That means you’ll earn an effective 5.5 points per dollar on purchases from the 5 point categories and you’ll earn an effective 1.1 points per dollar everywhere else.
Freedom alone can’t transfer points into much more lucrative airline/hotel/train currencies, but if you or your spouse has a Sapphire Preferred, Ink Plus, or Ink Bold then you can transfer points from Freedom to one of those cards and from there to your favorite travel currency. You can read at the end of this post which currencies they can transfer to and why those points are much more valuable than just taking cash back.
If you use those points for a trip worth where they are worth 2 cents each and then you’ll have effectively earned 10-11% back on those “5 point categories.” My coach tickets to Kansas City this week were worth 3 cents each, which means I really get 16.5% back from purchases in “5 point categories” thanks to the Chase trifecta.
Other Chase consumer cards you can simultaneously include the Chase British Airways (50K signup points, 1.25 Avios per dollar, and an annual companion award ticket if you spend $30K+ in a year), and the Chase United Explorer (30K signup points plus another 5K points for adding a free additional user, and it gives free luggage, free primary car rental insurance including in the US, expanded saver and standard award ticket availability, priority boarding, and more), the Chase Sapphire Preferred (40K signup points plus another 5K points for adding a free additional user, no fee the first year, plus 2.14 points per dollar on travel and dining with no Foreign Exchange fees), and the Chase Southwest (50K signup points).
The Chase Ink Plus and Chase Ink Bold business cards both offer 50,000 signup points. They offer 5 points per dollar on telecom, cable, and office supply stores, 2 points per dollar for gas and lodging, no foreign exchange fees, free lounge visits, and a waived annual fee for the first year. The Chase Ink Cash offers 20,000 signup points.