Some time earlier this week, we had a discussion over dinner about credit card with rewards. Chase Freedom was mentioned to be one of the better cards to use overall since it gives you 3% cash back on the top 3 categories on your bill. Today I saw this thread: Chase Freedom Credit Card Holders! 3% Rewards in TOP 5 w/ Chase checking account
The Chase Freedom credit card rewards 3% cash back or 3 points per $1 on the first $600 in purchases in the top 3 of 15 Everyday categories where you spend the most each month. Chase checking account customers will earn 3% cash back or 3 points per $1 on the first $600 in purchases in the top 5 of 15 Everyday categories. That’s 2 additional Everyday categories. If you are an existing Chase Freedom credit cardmember and a Chase checking customer, your account will be upgraded to these new benefits; a confirmation letter will be mailed when this takes place in June, 2008. To apply for Chase Freedom with the exclusive benefits for Chase checking customers, or to learn more including pricing and reward program terms, see a Chase branch banker. Restrictions apply. Subject to credit approval. Chase credit cards are issued by Chase Bank USA, N.A. There are 15 Everyday categories consisting of grocery stores (that are not affiliated with or departments of superstores, warehouse clubs or discount stores), gas & convenience stores, quick service payment/fast food restaurants, telecommunications, cable/satellite TV/Internet Service Providers, video rentals, department stores, dry cleaners, drug stores, movie theatres, local and suburban commuter passenger transportation (including ferries, bridges, tolls, parking garages, taxis/limos), pet supply stores and veterinary services, utilities, beauty shops (salons and spas), or gym/recreation memberships. Benefits will no longer apply if, at any time, the checking account is closed.
For more details, visit Chase Exclusives.
Do note, there is a cap on the amount of 3% rewards you get per month (currently capped at $600, which translates to $18 worth of 3% rewards). After which, all remaining purchases will be rewarded at the 1% tier for the remainder of the month. That equates to $7,200 in purchases eligible at the 3% tier which translates to a maximum of $216 of cash back per year.
If you want to try out the Chase Freedom credit card, currently there’s a $100 sign up bonus: Chase Freedom Application
If you want to try out Chase checking account, currently there’s a $125 sign up bonus: Chase Checking Application (requires you to be logged into any Chase account)