For people with Chase Freedom

[ManBearPig]

Do you use the points reward system or the regular cash one? I can't understand wtf the benefit is of switching to the points.

 

[Maximus96]

i use cash, wait to $200 and redeem $250. already cashed in once. about $20 away from my second cash out.

 

[Funyuns101]

Originally posted by: Maximus96
i use cash, wait to $200 and redeem $250. already cashed in once. about $20 away from my second cash out.

this, plus when I signed up I got $200 --> $250

 

[ivan2]

cash

 

[A5]

Cash here as well.

 

[Svnla]

Cash for me. I never considered points.

<<----strongly believe in 'cash is king'.

 

[Svnla]

Originally posted by: Funyuns101

Originally posted by: Maximus96
i use cash, wait to $200 and redeem $250. already cashed in once. about $20 away from my second cash out.

this, plus when I signed up I got $200 --> $250

How do you get $200 when you signed up? I know know about the $50 when you first used it.

 

[darkxshade]

Originally posted by: Svnla

Originally posted by: Funyuns101

Originally posted by: Maximus96
i use cash, wait to $200 and redeem $250. already cashed in once. about $20 away from my second cash out.

this, plus when I signed up I got $200 --> $250

How do you get $200 when you signed up? I know know about the $50 when you first used it.

It was a promotion, standard is 50.

 

[Special K]

I also only use the cash option.

 

[ManBearPig]

Originally posted by: Funyuns101

Originally posted by: Maximus96
i use cash, wait to $200 and redeem $250. already cashed in once. about $20 away from my second cash out.

this, plus when I signed up I got $200 --> $250

yeah i heard about that, too bad i was like a year off! Damn.

Anyway, so apparently the most you can get is like $16 per month, there's a cap. And some stores don't qualify. I mean, I'm happy im getting something, but they kind of fuck you on some aspects of the 'cash back.'

 

[dullard]

Cash only for me. I got in when you got a free $200 when making your first purchase (down to $50 at the moment). Then I got a check for $250 (free $50 if your bonus reaches $200). Since then, I've cashed in one more time and I'm a good chunk of the way towards my third.

+$500 for me.

I don't even have a clue what I could have gotten with the reward points. I don't I'd like that junk more than $500 in cold hard cash. I plunked that cash into my mortgage and have probably saved $20+ in interest as well.

Originally posted by: Kazaam
Anyway, so apparently the most you can get is like $16 per month, there's a cap. And some stores don't qualify. I mean, I'm happy im getting something, but they kind of fuck you on some aspects of the 'cash back.'

Most you can get 3% on is $600/month. 3% * $600 = $18. But, if you wait for those $18 months to add up to $200 you get an extra $50. The net effect is you averaged $22.50/month. After that, you only get 1% (1.25% with the $50 bonus). That isn't too bad.

If $600 is too little, get multiple cards. I wonder, does anyone have multiple Chase Freedom cards? Or, get a 5% grocery card and 5% gas card and use the Chase for 3% back on the rest.

 

[ManBearPig]

Hm, what exactly do you mean about getting only 1% back after getting the $250. I do like how they give you that extra fifty bucks. It comes in as a check, right?

 

[Special K]

Originally posted by: dullard
Cash only for me. I got in when you got a free $200 when making your first purchase (down to $50 at the moment). Then I got a check for $250 (free $50 if your bonus reaches $200). Since then, I've cashed in one more time and I'm a good chunk of the way towards my third.

+$500 for me.

I don't even have a clue what I could have gotten with the reward points. I don't I'd like that junk more than $500 in cold hard cash. I plunked that cash into my mortgage and have probably saved $20+ in interest as well.

Originally posted by: Kazaam
Anyway, so apparently the most you can get is like $16 per month, there's a cap. And some stores don't qualify. I mean, I'm happy im getting something, but they kind of fuck you on some aspects of the 'cash back.'

Most you can get 3% on is $600/month. 3% * $600 = $18. But, if you wait for those $18 months to add up to $200 you get an extra $50. The net effect is you averaged $22.50/month. After that, you only get 1% (1.25% with the $50 bonus). That isn't too bad.

If $600 is too little, get multiple cards. I wonder, does anyone have multiple Chase Freedom cards? Or, get a 5% grocery card and 5% gas card and use the Chase for 3% back on the rest.

Who still offers a 5% grocery card? I know Penfed has a 5% gas/2% grocery card.

 

[brtspears2]

Cash. I hate points/miles/gift certificates for credit card rewards.

 

[dullard]

Originally posted by: Kazaam
Hm, what exactly do you mean about getting only 1% back after getting the $250. I do like how they give you that extra fifty bucks. It comes in as a check, right?

After you hit $600 per month, you no longer get 3% back, but 1% back on all extra money that month.

Yes, it comes as a check. They are fairly fast, I've gotten my two checks about 7-10 days after applying for them online.

Originally posted by: Special K
Who still offers a 5% grocery card? I know Penfed has a 5% gas/2% grocery card.

Discover does. But it doesn't last forever as the 5% item moves occasionally. I don't know about the rest of credit cards, I haven't searched recently.

 

[ManBearPig]

Ah, thanks for the clarification. I wish they'd just give you a flat rewards % rate on all categories. Despite paying like 800 bucks last month, i didnt get too much. I wish i'd have gotten one earlier though...its so damn easy since it links in with your chase checking account anyway. I just figured if i was using a debit card, i might as well use a CC with rewards and pay it off every month.

 

[tboo]

I use the cash rewards

 

[randomlinh]

cash, wait for $200. cell phone, gas, food... everything I can basically