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Chase Freedom Is Great in Q1
The Chase Freedom is one of my all time favorite cards (My review). The main reason I love it so much is the rotating 5% categories. Since I am also a Chase Ink card holder, I can transfer the points I earn to travel partners like United, Hyatt & more.
Some quarters the bonus categories are better than others. For example, when they offer 5% at gas stations I am generally less excited since it is difficult for me to max out that category.
Many people have gas stations that sell Visa/MC gift cards, unfortunately I haven’t found any here locally. When home improvement stores are featured as a category, it is slightly easier to max out the bonus, however there are a few hoops involved.
Grocery Stores Are King
Thankfully this quarter the Chase Freedom is paying 5% back at grocery stores. To me, this is the easiest category to max out since multiple grocery store chains in my area sell variable load Visa/MC cards for a $5.95 fee.
Buying 3 x $500 of these cards will result in $17.85 in fees and generate 7,500 Ultimate Rewards points. It is a quick and easy process and the cards purchased can easily be liquidated in a variety of ways.
The Sapphire Conversion & Multiple Freedoms
Earlier this week I talked about the new Chase policy of giving bonuses on the same product every 24 months. Many people are able to downgrade their Sapphire Preferred cards to a Chase Freedom in order to get multiples.
Currently I have two Freedom cards (one that I got new & a converted Sapphire Preferred) and a brand spanking new Sapphire Preferred. I honestly don’t think the Sapphire is worth the $95 annual fee, so unless something changes, I probably will convert it to a Freedom in a year.
In the end, you should be happy to be a Freedom cardholder. The card not only has generous category bonuses and no annual fee, but this quarter it is as easy as ever to maximize the bonus and I like that!
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.