Update: The 10 points per dollar for car rentals and hotels ends 7/31. It can take a couple of days for charges to post, so take advantage of it now rather than waiting for Sunday.
Originally posted on 7/1:
You can view credit card offers by clicking on the “Other Credit Cards” tab on top of the DansDeals banner to view links for card offers. You can click on the link that says “View all card offers by issuing bank” and scroll down to view all card offers from the bank of your choice.
For Q3 you can earn 5 points per dollar on up to $1,500 in spending at restaurants (which includes caterers, cafes, etc) and at wholesale clubs like BJs, Costco, and Sam’s Club. That’s 7,500 potential points this quarter.
Gas stations at these clubs won’t earn 5 points per dollar, but you can buy gift cards from the clubs that will earn 5 points per dollar and then use the gift cards to pay for gas. For example you can buy Costco Cash cards online to earn 5 points per dollar that are useable online, in-store, or at Costco gas stations.
Additionally you can earn 10 points per dollar on up to $2,500 in spending on hotels and car rentals that are booked through Chase on your Freedom card. This 10x promotion also applies to the Freedom Unlimited card. You must use cash and not redeem points for the hotel stay or car rental in order to earn 10 points per dollar. This 10x promotion is only valid for travel booked in July, though travel can take place at any time. That’s another 25,000 potential points this quarter.
Chase Freedom is an excellent no annual fee card thanks to its quarterly 5% categories. 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 over the course of a year (7,500 points per quarter at 5 points per dollar spent).
While Chase Freedom is a great card for the bonus categories, it’s not a great card for everyday spending. However the brand new Chase Freedom Unlimited card is excellent for everyday spending.
2016 Chase Freedom bonus categories:
Q1: Gas stations and local commuter transportation
Q2: Grocery stores and wholesale clubs like BJs, Costco, and Sams Club.
Q3: Restaurants and wholesale clubs.
Q4: Wholesale clubs, Holiday shopping (Likely Amazon.com) and more to be announced.
Freedom alone can’t transfer points into much more lucrative airline or hotel miles, but if you or your spouse has a Sapphire Preferred or Ink Plus card 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 postwhich currencies they can transfer to and why those points are much more valuable than just taking cash back. The Freedom card can also keep your points alive for free if you do close one of those cards.
The value of the points will be based on where you use them, but if you use those points for a trip worth where they are worth 2 cents each then you’ll have effectively earned 10% back on those “5 point categories.” The sky is the limit of the value of airline miles as they aren’t tied to the cost of a ticket. That’s good for people in the know and bad for those who are not. 1 mile can be worth 0.25 cents or it can be worth 25 cents, it all just depends on how you use them!