Reminder from a Reader: Getting the Most from Your Chase Freedom Card

Here's an email I recently received from a reader:

Thanks to you, we've had a great year with cash back rewards on the Amex Blue/Chase Freedom combo strategy.  But, when claiming some rewards from Chase Freedom, I almost made a rookie mistake! 

I had not been redeeming the rewards over the past year as we wanted to see how much it would be.  I was about to click on having several $100 credits on our Chase statement, for $100 each, when I belatedly noticed the fact that you can get a $250 check for only $200.  Basically, you get a bonus $50.  I had completely forgotten about that, although you mention it in one of your posts and they also have it on the website.  Here's the wording:  "Save up $200 in rewards and redeem for a $250 check – that’s a $50 bonus!"

I almost missed out on the bonus $50.  That's a 25% return.

So, for all your readers out there who are following the same strategy, make sure you wait until you have at least $200 in rewards and then you can get a $250 check.

Good reminder for us all. If you use the Chase Freedom card, let your rewards build up to the $200 level, then redeem them. Chase will kick in an extra $50 at that point, so you get $250. Redeem them at $199, and all you get is $199. ;-)

Comments

[Pat]

I have been doing this too. I got an extra $100 this way last year. I read somewhere that Chase has changed the rewards to 1% for ALL catagories. I haven't checked on this yet but it would make a huge difference if the "top three catagories" doesn't apply anymore.

[FMF]

Pat --

I believe the change applies only to new cardholders. I just got my last statement and still got 3% in three categories.

[Matt G]

know, the extra $50 is the best part! I'm at $190 right now, I'm gonna need that $250 next month to pay off some Spring Break charges!!

[F2O]

My last statemaent still had the 3% on the top 3 categories as well. And I happened to be on the website this morning to schedule a payment and there was a banner advertising it...
I've had this card since last May and have already cashed in on the $200 for $250 three times. It's just a shame that that the 3% is capped each month

[Yoni]

I have the Chase Rewards Plus card with 5% back in my top 3 categories. I can't seem to find this reward on my redemption page. Does anybody know if I am eligible for it as well?

[TMS]

I am a Freedom Card holder and last year Chase offered me $100 to open a checking account with them. There's a few Chase branches in town, including one close to my office.

It's a no-fee checking account as long as you use your (free) debit card 5 or six times a month (can't remember the exact terms).

So I opened the account, got my free (taxable) $100 and now transfer money from my other checking account so I can use the Chase debit card for liquor store purchases.

The kicker is - the Chase credit card now gives me 3% back from my top 5 categories (instead of the top 3) because I am also a banking customer of theirs.

It was good for $500 last year waiting for the points to build up to the magical 200 to get 250.

I love making a little money off a credit card company. :)

[Andy]

Chase also seems to try hard to get you to cash in before you hit that $200 threshold. With a chase checking account you get an added "benefit" of being able to redeem your Chase Freedom rewards in $10 increments and they like to remind you of that frequently. And it's very easy to just click on one of the many prominently displayed "Redeem Now!" links on the page when you're checking your rewards balance.

[Bartman]

Your site sold me on the Freedom card so I tried to apply for the Freedom card.

Sorry we (Chase) don't offer that card anymore.

Called their card application number: prerecorded message "Sorry we, blah blah...

Nobody at the Chase branch knew what was going on, I expected that. Then I tried the cardholders line. The CS just wanted to burn me off with a transfer. I demanded a number and got, you guessed it, the same prerecorded "Sorry we don't have credit cards, blah blah.."

Yeah you can fill out the form online, BUT it just ends with the page with call 800 something that's the prerecorded burn off.

So is Chase still giving out new cards?

[FMF]

Bartman --

I thought so, but I got mine a year or so ago.

Anyone else out there had trouble with getting this card?