Two Reasons You Should Apply for the Chase Freedom Card
Whether you’re looking to get into the “Points and Miles” game, or looking to add to your portfolio, the Chase Freedom card is a good one to pickup. And if you have a Chase Sapphire Preferred, it’s even better.
The Chase Freedom is a completely free card. No annual fee. That means you can build up credit for years and never worry if you’re losing out due to needing to pay annual charges.
The card currently has $100 bonus and earns 1% cash back on all spending. But the real benefit comes in two additional perks.
1. Each quarter the card offers 5% cash back on certain rotating categories. From gas stations to supermarkets to Starbucks to shopping at Amazon.com. 5% cash back is huge and one of the best rewards amounts in the industry.
2. But beyond that, for all of you who have a Chase Sapphire Preferred cash, coupling it with the Chase Freedom is a no-brainer. Instead of 5% cash back, you can turn those rewards into Ultimate Rewards points instead. 5x points can be earned instead of cash, and if you have a Sapphire Preferred account, you can transfer all your points from the Chase Freedom card into the Sapphire Preferred points account.
Overall, I’d recommend picking up the Chase Freedom, for the amazing 5x cash or points it earns on rotating categories each quarter. And if you have the Chase Sapphire Preferred, I’d absolutely recommend it. They work perfectly together and are the best way to begin mastering the Points and Miles game so many of us have gotten into.
Chase Freedom, Chase Freedom Unlimited, or Chase Sapphire Preferred
09-13-2016 05:16 PM
Hey all, I'm a frequent browser of these forums and finally decided to make an account because I need to pick your minds about where to go upon picking out my next credit card. I'm fairly new to the credit card game, but I love the rewards and figure since I'm going to be spending money anyways, why not earn some extra perks on the side.
As far as my credit history, according to CreditKarma, my TU = 730 and my EQ = 723. I have one credit card from my credit union (Opened Sept 2015, $500 Limit) and a Citi Double Cash (Opened April 2016, $3000 Limit). I use my DC card exclusively due to the 2% cash back and pay my bill so that my utilization is less than 5%.
Currently, I am in graduate school and my income will consist of loans for the next 2 years until I finish. I will have some pretty hefty expenses coming up with airfare, conferences, and hotels, so any sign-on bonus that is available I should be able to hit without a problem. My day-to-day spending isn't very much (besides rent, utilities) and consists mostly of Target for groceries and gas for my commute to school and around the area as long as the occassional drink or dinner out.
I'm looking into the Chase program because of the ability to transfer the points 1:1 to United and also book flights through their Ultimate Rewards Program. Also, I am pre-approved on their website for both the Chase Freedom and Chase Sapphire Reserve cards. I plan on getting married in the next few years and I would love to be able to surprise my girlfriend with a vacation with the points that I've earned! I know that in order to do this, you need to have a "Tier 2" card, or the CSP or something similar and that points can transfer from a "Tier 1" (Freedom, Freedom Unlimited) to a "Tier 2".
I'm not too big on an annual fee, but I also understand that you get what you pay for. My plan was to apply for the Freedom Card and then use that for all of the 5% purchases that I make and then just continue to use my DC for everything else. This wouldn't allow for points to accrue very quickly because the spending would be pretty sporadic and it would take awhile for them to add up. After using that for a year or so, I was going to apply for the CSP and then transfer all of my Freedom points that I earned in the past year or so in order to participate in the Ultimate Rewards program.
Basically what I'm getting at is should I go all in with Chase and get the CFU for all of my spending, Freedom for only some of my spending, or bite the buttet and jump straight to the CSP. In addition to that, how would you use my previous Double-Cash card in addition to any of the three cards listed above.
I know this is a lot of mumble-jumble, but I hope some of you can make some sense out of this and help me out! Utilizing credit cards seems like such a no brainer and I just want to make sure that I'm maximixing my potential.