Chase Freedom Significant Money Maker for Q4

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
User avatar
Topic Author
RickBoglehead
Posts: 7852
Joined: Wed Feb 14, 2018 8:10 am
Location: In a house

Chase Freedom Significant Money Maker for Q4

Post by RickBoglehead »

The Chase Freedom card provides 5% back quarterly on specific merchants, and 1% for everything else. For Q4, the 5% is for Walmart and PayPal. Note that using Chase points for travel via Chase's portal yields a 25% increase, so 5% becomes 6.25%.

PayPal has a virtual debit card called PayPal Key, which is a Mastercard. This can be linked to any payment source such as a credit card, a checking account. This payment form works for utilities, insurance companies, property tax bills, online purchases, etc. The benefit of this card is that you can set up an autopay, and then simply redirect the payment source each month/quarter, as needed.

Therefore, for Q4, one could take steps to generate significant money with this incentive. Of course you will want to verify the incentive processes correctly by putting something on your first statement in October to see the 5% does indeed come through.

Besides paying your monthly utility and insurance bills, think of the other opportunities to generate additional revenue:

- Prepay utility bills for some period including cell phone bills
- Prepay monthly bills that are issued in advance. For example, we get medical benefits from the state which issues an entire year's worth of bills in advance. We can pay October - December, and then pay January - December 2022, generating 5% on these payments. On this bill, we pay a 1.5% convenience fee, so we'd net 3.5%. For us, this bill will generate approximately $550 alone.
- Use PayPal to pay in retail stores, where accepted. You can also link PayPal to Google Pay for use in some retail stores.

If you're pulling 0.5% money, i.e. your cash accounts, this is a no brainer. If you're utilizing money that you'd put into the market, then it's probably not a good idea. I see a rough potential of over $20,000 in charges for us, most of which is Q4 and 2022's medical billing, which is set in stone once the bills are issued. Note - commentary on what medical costs are is irrelevant to this thread - we can buy a top medical plan from the state in retirement, cost drops dramatically when Medicare kicks in. Of course we also need to evaluate moving 2022's medical costs to 2021 from a deductibility standpoint.

Carefully evaluate the benefit vs. the processing fee, if applicable. Our property taxes can be paid via a credit or debit card, for a 3% fee. That still gives us 3.25% benefit, assuming the bill can be paid with the virtual card and we use the benefit for travel. We get our bill in November, due February.

Note - some providers, like state and federal taxes, may not take this virtual debit card (IRS will not). You can find out by attempting a payment and seeing if it's not accepted, and then pay via an alternate method, just make sure to leave enough time for the alternate method to process.
Avid user of forums on variety of interests-financial, home brewing, F-150, EV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.
Onlineid3089
Posts: 771
Joined: Thu Jan 02, 2020 2:47 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Onlineid3089 »

Unless something has changed, the quarterly bonus is only for the first $1500 in eligible spend per quarter.
bling
Posts: 1452
Joined: Sat Jan 21, 2012 11:49 am

Re: Chase Freedom Significant Money Maker for Q4

Post by bling »

each quarter is capped at $1,500 of spending.
User avatar
Cheez-It Guy
Posts: 4005
Joined: Sun Mar 03, 2019 3:20 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Cheez-It Guy »

Thanks, Rick! Definitely the best quarterly category for me, and was not aware of the PayPal Key.

I see I was too slow with my own question about the $1,500 spending limit, but below is the FAQ.

https://creditcards.chase.com/freedom-credit-cards/faq

Still a good opportunity for planned spending. At least you can max it out.
Last edited by Cheez-It Guy on Tue Sep 21, 2021 9:12 am, edited 2 times in total.
02nz
Posts: 10476
Joined: Wed Feb 21, 2018 2:17 pm

Re: Chase Freedom Significant Money Maker for Q4 [not really, limit $1500]

Post by 02nz »

Onlineid3089 wrote: Tue Sep 21, 2021 9:01 am Unless something has changed, the quarterly bonus is only for the first $1500 in eligible spend per quarter.
This is correct. OP's $20K in potential spend would need to be spread over 13 Chase Freedom or Freedom Flex cards, which I imagine most households do not have. :happy
michaeljc70
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by michaeljc70 »

This quarter it is 5% for grocery stores. If you drink/entertain like we do, we've used this opportunity to front load some of our liquor purchases (wine) from grocery stores to get the 5% bonus. I think we will get a lot closer to the $1500 limit doing this than we would otherwise (especially since it excludes Costco, Sam's Club, etc.). Obviously, this is small potatoes in the big picture, but if you already have the card....
User avatar
indexfundfan
Posts: 3961
Joined: Tue Feb 20, 2007 10:21 am
Contact:

Re: Chase Freedom Significant Money Maker for Q4

Post by indexfundfan »

Is Paypal Key available for the general public? It doesn't seem that I can sign up yet.
My signature has been deleted.
User avatar
Svensk Anga
Posts: 1596
Joined: Sun Dec 23, 2012 4:16 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Svensk Anga »

I did a quarterly estimated tax payment last year via PayPal to snag this rebate. Costs 2% via the vendors who take paypal, so net 3%. Those into optimizing might figure out how much of their $1500 limit is left late in December and fill it up.
User avatar
anon_investor
Posts: 15112
Joined: Mon Jun 03, 2019 1:43 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by anon_investor »

indexfundfan wrote: Tue Sep 21, 2021 9:20 am Is Paypal Key available for the general public? It doesn't seem that I can sign up yet.
+1. It doesn't appear available to me yet.
atdharris
Posts: 2091
Joined: Wed Jan 02, 2019 2:18 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by atdharris »

I wouldn't really call $75 a significant amount of money.
djheini
Posts: 263
Joined: Fri Jul 29, 2016 5:53 pm
Location: Scotland (formerly Boston)

Re: Chase Freedom Significant Money Maker for Q4

Post by djheini »

RickBoglehead wrote: Tue Sep 21, 2021 8:57 am Note that using Chase points for travel via Chase's portal yields a 25% increase, so 5% becomes 6.25%.
Isn't that only if you have the annual fee sapphire preferred/reserve card and transfer the points from Freedom to Sapphire before redeeming?
User avatar
cowdogman
Posts: 2054
Joined: Sat Dec 16, 2017 6:44 pm
Location: Washington State

Re: Chase Freedom Significant Money Maker for Q4

Post by cowdogman »

A lot of online stores offer Paypal as an option at checkout.

I just make sure my Freedom card is my primary account on Paypal (not my bank account or another card) and then I make sure I use Paypal at checkout. Pretty easy to hit the $1,500 cap in three months.

For example, I can use Paypal at King Arthur Flour. With the holidays coming up in November and December, I could hit probably $1,500 just at KAF.

I agree $75 is not a lot of money, but worth the minor effort.
runner3081
Posts: 5978
Joined: Mon Aug 22, 2016 3:22 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by runner3081 »

$75 does not equal significant. I blow through the 1.5K by paying shipping on items I sell on eBay (using PayPal as payment method).
Nyc10036
Posts: 1663
Joined: Wed Oct 05, 2016 6:29 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Nyc10036 »

The significant money maker is the soon to end Q3 2021 if you have the new Chase Freedom Flex.
The first year is 5% for grocery.
And Q3 2021, the category was 5% for grocery.
The two stacked giving me 9%.

I had read that someone was able to get Paypal to stack with the first year 5% for grocery at grocery chains that accept Paypal payment.
I am not sure how that is able to stack, but that person wrote that it did.
Maybe someone can explain.

.
OnceARunner
Posts: 425
Joined: Wed Apr 23, 2014 1:50 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by OnceARunner »

RickBoglehead wrote: Tue Sep 21, 2021 8:57 am I see a rough potential of over $20,000 in charges for us
$18,500 of these charges will only generate 1% cashback (unless your spouse also as the card, or you happen to have both the Freedom and Freedom Flex).
Nyc10036
Posts: 1663
Joined: Wed Oct 05, 2016 6:29 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Nyc10036 »

OnceARunner wrote: Tue Sep 21, 2021 10:56 am
RickBoglehead wrote: Tue Sep 21, 2021 8:57 am I see a rough potential of over $20,000 in charges for us
$18,500 of these charges will only generate 1% cashback (unless your spouse also as the card, or you happen to have both the Freedom and Freedom Flex).
I think he forgot about the $1500 quarterly spend limit per card.
Nice in theory though. :happy
michaeljc70
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by michaeljc70 »

Nyc10036 wrote: Tue Sep 21, 2021 10:48 am The significant money maker is the soon to end Q3 2021 if you have the new Chase Freedom Flex.
The first year is 5% for grocery.
And Q3 2021, the category was 5% for grocery.
The two stacked giving me 9%.

I had read that someone was able to get Paypal to stack with the first year 5% for grocery at grocery chains that accept Paypal payment.
I am not sure how that is able to stack, but that person wrote that it did.
Maybe someone can explain.

.
Are you able to get the Chase Freedom Flex if you already have a Chase Freedom? Can you convert a Freedom to a Freedom Flex?

On their website I see the Freedom Unlimited and Freedom Flex. My Freedom card doesn't say "unlimited" like the card in the picture. Are those the same thing?
User avatar
Cheez-It Guy
Posts: 4005
Joined: Sun Mar 03, 2019 3:20 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Cheez-It Guy »

Chase Freedom is a Visa. It is closed to new applicants, and no longer a card they market. It was replaced with Chase Freedom Flex, which is a MasterCard. I have the Chase Freedom and have for more than a decade. I'm not motivated to change to the Freedom Flex, but maybe it would be a good idea to have a MasterCard just in case there's a problem with payment network. Everything I have currently both credit and debit is Visa.
User avatar
anon_investor
Posts: 15112
Joined: Mon Jun 03, 2019 1:43 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by anon_investor »

michaeljc70 wrote: Tue Sep 21, 2021 11:30 am
Nyc10036 wrote: Tue Sep 21, 2021 10:48 am The significant money maker is the soon to end Q3 2021 if you have the new Chase Freedom Flex.
The first year is 5% for grocery.
And Q3 2021, the category was 5% for grocery.
The two stacked giving me 9%.

I had read that someone was able to get Paypal to stack with the first year 5% for grocery at grocery chains that accept Paypal payment.
I am not sure how that is able to stack, but that person wrote that it did.
Maybe someone can explain.

.
Are you able to get the Chase Freedom Flex if you already have a Chase Freedom? Can you convert a Freedom to a Freedom Flex?

On their website I see the Freedom Unlimited and Freedom Flex. My Freedom card doesn't say "unlimited" like the card in the picture. Are those the same thing?
The regular Chase Freedom Visa is discontinued, you can't get it anymore, but if you have it, it still works. You can apply for the Chase Freedom Flex MasterCard and get the $200 sign up bonus (after you spend a certain amount.
michaeljc70
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by michaeljc70 »

anon_investor wrote: Tue Sep 21, 2021 11:43 am
michaeljc70 wrote: Tue Sep 21, 2021 11:30 am
Nyc10036 wrote: Tue Sep 21, 2021 10:48 am The significant money maker is the soon to end Q3 2021 if you have the new Chase Freedom Flex.
The first year is 5% for grocery.
And Q3 2021, the category was 5% for grocery.
The two stacked giving me 9%.

I had read that someone was able to get Paypal to stack with the first year 5% for grocery at grocery chains that accept Paypal payment.
I am not sure how that is able to stack, but that person wrote that it did.
Maybe someone can explain.

.
Are you able to get the Chase Freedom Flex if you already have a Chase Freedom? Can you convert a Freedom to a Freedom Flex?

On their website I see the Freedom Unlimited and Freedom Flex. My Freedom card doesn't say "unlimited" like the card in the picture. Are those the same thing?
The regular Chase Freedom Visa is discontinued, you can't get it anymore, but if you have it, it still works. You can apply for the Chase Freedom Flex MasterCard and get the $200 sign up bonus (after you spend a certain amount.
I believe I only get 1% on my Freedom and the Unlimited is 1.5% on purchases (that don't fall into one of the other categories). Is there any reason to keep the old Freedom over the Freedom unlimited since they are both Visa? The Freedom Flex seems like it may not be great for me since most of my purchases aren't in the categories that pay more (travel, restaurants, drugstores)...unless the bonus categories make up for it. I use my Citi Double (2% on everything) everywhere except Costco (because they don't take MC) or where there is a bonus category on the Freedom/Discover and I think of it.
Nyc10036
Posts: 1663
Joined: Wed Oct 05, 2016 6:29 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Nyc10036 »

michaeljc70 wrote: Tue Sep 21, 2021 12:50 pm
anon_investor wrote: Tue Sep 21, 2021 11:43 am
michaeljc70 wrote: Tue Sep 21, 2021 11:30 am
Nyc10036 wrote: Tue Sep 21, 2021 10:48 am The significant money maker is the soon to end Q3 2021 if you have the new Chase Freedom Flex.
The first year is 5% for grocery.
And Q3 2021, the category was 5% for grocery.
The two stacked giving me 9%.

I had read that someone was able to get Paypal to stack with the first year 5% for grocery at grocery chains that accept Paypal payment.
I am not sure how that is able to stack, but that person wrote that it did.
Maybe someone can explain.

.
Are you able to get the Chase Freedom Flex if you already have a Chase Freedom? Can you convert a Freedom to a Freedom Flex?

On their website I see the Freedom Unlimited and Freedom Flex. My Freedom card doesn't say "unlimited" like the card in the picture. Are those the same thing?
The regular Chase Freedom Visa is discontinued, you can't get it anymore, but if you have it, it still works. You can apply for the Chase Freedom Flex MasterCard and get the $200 sign up bonus (after you spend a certain amount.
I believe I only get 1% on my Freedom and the Unlimited is 1.5% on purchases (that don't fall into one of the other categories). Is there any reason to keep the old Freedom over the Freedom unlimited since they are both Visa? The Freedom Flex seems like it may not be great for me since most of my purchases aren't in the categories that pay more (travel, restaurants, drugstores)...unless the bonus categories make up for it. I use my Citi Double (2% on everything) everywhere except Costco (because they don't take MC) or where there is a bonus category on the Freedom/Discover and I think of it.
I kept my Freedom.
I like the 5%. If I buy $1500 in VISA gift cards, the end result is 4%.

You also get 5% with the Freedom Flex for travel booked through Chase.
https://www.bankrate.com/finance/credit ... vel-perks/

Not sure which credit card pays more than 3% for drugstores.

You probably can get better than 3% with restaurants with other travel-related cards.


.
nalor511
Posts: 5016
Joined: Mon Jul 27, 2015 1:00 am

Re: Chase Freedom Significant Money Maker for Q4

Post by nalor511 »

runner3081 wrote: Tue Sep 21, 2021 10:18 am $75 does not equal significant. I blow through the 1.5K by paying shipping on items I sell on eBay (using PayPal as payment method).
We have 4x of these cards, so $300 with minimal effort (5-10m of time) is something I will do. Because I did it last year, the setup is already complete. We'll pay medical premiums.
Wannaretireearly
Posts: 4847
Joined: Wed Mar 31, 2010 4:39 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Wannaretireearly »

Tag. We have this card. Trying to figure out how best to use the 5% feature!
“At some point you are trading time you will never get back for money you will never spend.“ | “How do you want to spend the best remaining year of your life?“
Nyc10036
Posts: 1663
Joined: Wed Oct 05, 2016 6:29 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Nyc10036 »

Wannaretireearly wrote: Tue Sep 21, 2021 1:24 pm Tag. We have this card. Trying to figure out how best to use the 5% feature!
Buy $1500 in Walmart gift cards if you shop there year-round.
or
Buy $500 VISA or Mastercard gift cards at Walmart with $4.94 fee.
The return works out to 4% after fees.
Wannaretireearly
Posts: 4847
Joined: Wed Mar 31, 2010 4:39 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Wannaretireearly »

Nyc10036 wrote: Tue Sep 21, 2021 1:34 pm
Wannaretireearly wrote: Tue Sep 21, 2021 1:24 pm Tag. We have this card. Trying to figure out how best to use the 5% feature!
Buy $1500 in Walmart gift cards if you shop there year-round.
or
Buy $500 VISA or Mastercard gift cards at Walmart with $4.94 fee.
The return works out to 4% after fees.
Thanks!!
“At some point you are trading time you will never get back for money you will never spend.“ | “How do you want to spend the best remaining year of your life?“
User avatar
Topic Author
RickBoglehead
Posts: 7852
Joined: Wed Feb 14, 2018 8:10 am
Location: In a house

Re: Chase Freedom Significant Money Maker for Q4

Post by RickBoglehead »

Yes, I forgot the spend limit, but some do have multiple cards. :oops:

I was still in my happy mindset for getting the Chase Sapphire x 2 100,000 points plus $50 groceries back in July. :D
Avid user of forums on variety of interests-financial, home brewing, F-150, EV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.
User avatar
JoMoney
Posts: 16260
Joined: Tue Jul 23, 2013 5:31 am

Re: Chase Freedom Significant Money Maker for Q4

Post by JoMoney »

OnceARunner wrote: Tue Sep 21, 2021 10:56 am ....
$18,500 of these charges will only generate 1% cashback (unless your spouse also as the card, or you happen to have both the Freedom and Freedom Flex).
I'm pretty sure the 5% quarterly changing categories benefit is offered only with the "Freedom Flex" card.
Not with the "Freedom Unlimited" (or "Freedom Student Card".)
Is there some other "Freedom" card other than the "Flex" that does this?
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
Jags4186
Posts: 8198
Joined: Wed Jun 18, 2014 7:12 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Jags4186 »

JoMoney wrote: Wed Sep 22, 2021 7:53 am
OnceARunner wrote: Tue Sep 21, 2021 10:56 am ....
$18,500 of these charges will only generate 1% cashback (unless your spouse also as the card, or you happen to have both the Freedom and Freedom Flex).
I'm pretty sure the 5% quarterly changing categories benefit is offered only with the "Freedom Flex" card.
Not with the "Freedom Unlimited" (or "Freedom Student Card".)
Is there some other "Freedom" card other than the "Flex" that does this?
Yes, there is the Chase Freedom Visa Signature card which is no longer available. Freedom Flex is a Mastercard and has a few 3x categories thrown in (dining, drug store).
OnceARunner
Posts: 425
Joined: Wed Apr 23, 2014 1:50 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by OnceARunner »

JoMoney wrote: Wed Sep 22, 2021 7:53 am
OnceARunner wrote: Tue Sep 21, 2021 10:56 am ....
$18,500 of these charges will only generate 1% cashback (unless your spouse also as the card, or you happen to have both the Freedom and Freedom Flex).
I'm pretty sure the 5% quarterly changing categories benefit is offered only with the "Freedom Flex" card.
Not with the "Freedom Unlimited" (or "Freedom Student Card".)
Is there some other "Freedom" card other than the "Flex" that does this?
As Jags said above, but I'll clarify further, there is a Chase Freedom card that is not available to new cardholders. However, if you already had one, your account continues. You can call in and product change to the Freedom Flex if you want, or you can also apply for the Freedom Flex as a new card and hold both moving forward.
ZinCO
Posts: 359
Joined: Thu Nov 05, 2015 8:42 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by ZinCO »

OnceARunner wrote: Wed Sep 22, 2021 8:02 am
JoMoney wrote: Wed Sep 22, 2021 7:53 am
OnceARunner wrote: Tue Sep 21, 2021 10:56 am ....
$18,500 of these charges will only generate 1% cashback (unless your spouse also as the card, or you happen to have both the Freedom and Freedom Flex).
I'm pretty sure the 5% quarterly changing categories benefit is offered only with the "Freedom Flex" card.
Not with the "Freedom Unlimited" (or "Freedom Student Card".)
Is there some other "Freedom" card other than the "Flex" that does this?
As Jags said above, but I'll clarify further, there is a Chase Freedom card that is not available to new cardholders. However, if you already had one, your account continues. You can call in and product change to the Freedom Flex if you want, or you can also apply for the Freedom Flex as a new card and hold both moving forward.
It should be noted that the original Chase Freedom is also still available as a downgrade option from other cards. That's how many of us have more than one of them, and the downgrade path is still available as of last week.
User avatar
JoMoney
Posts: 16260
Joined: Tue Jul 23, 2013 5:31 am

Re: Chase Freedom Significant Money Maker for Q4

Post by JoMoney »

ZinCO wrote: Wed Sep 22, 2021 8:07 am...
It should be noted that the original Chase Freedom is also still available as a downgrade option from other cards. That's how many of us have more than one of them, and the downgrade path is still available as of last week.
Interesting... I have Chase Sapphire Preferred that I only got for the recent 100,000 point bonus. I have no plans on paying the $95 annual fee going forward, I was eyeballing the "Freedom Flex" card as a potential downgrade option (I already have Freedom Unlimited), is the old-style "Freedom Visa Signature" worth considering over the "Freedom Flex" ?
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
doss
Posts: 554
Joined: Tue Nov 01, 2011 9:52 am

Re: Chase Freedom Significant Money Maker for Q4

Post by doss »

I, too, made the mistake of thinking there was no limit on the cashback....and I started pricing out a Menards 28x28 garage w/loft plan with lumber costs, etc because Menards was one of the 5% category options a few months ago. Menards also had a 11% rebate on top of that!
“ The long-term 9%-10% nominal return of the stock market INCLUDES the crashes.” — calvin+hobbs
michaeljc70
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by michaeljc70 »

JoMoney wrote: Wed Sep 22, 2021 8:26 am
ZinCO wrote: Wed Sep 22, 2021 8:07 am...
It should be noted that the original Chase Freedom is also still available as a downgrade option from other cards. That's how many of us have more than one of them, and the downgrade path is still available as of last week.
Interesting... I have Chase Sapphire Preferred that I only got for the recent 100,000 point bonus. I have no plans on paying the $95 annual fee going forward, I was eyeballing the "Freedom Flex" card as a potential downgrade option (I already have Freedom Unlimited), is the old-style "Freedom Visa Signature" worth considering over the "Freedom Flex" ?
Does anyone know if you forgo the sign up bonus if you downgrade a card versus close the Sapphire and open a Flex? I also have a Sapphire I have no intention of keeping.
02nz
Posts: 10476
Joined: Wed Feb 21, 2018 2:17 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by 02nz »

michaeljc70 wrote: Wed Sep 22, 2021 8:30 am
JoMoney wrote: Wed Sep 22, 2021 8:26 am
ZinCO wrote: Wed Sep 22, 2021 8:07 am...
It should be noted that the original Chase Freedom is also still available as a downgrade option from other cards. That's how many of us have more than one of them, and the downgrade path is still available as of last week.
Interesting... I have Chase Sapphire Preferred that I only got for the recent 100,000 point bonus. I have no plans on paying the $95 annual fee going forward, I was eyeballing the "Freedom Flex" card as a potential downgrade option (I already have Freedom Unlimited), is the old-style "Freedom Visa Signature" worth considering over the "Freedom Flex" ?
Does anyone know if you forgo the sign up bonus if you downgrade a card versus close the Sapphire and open a Flex? I also have a Sapphire I have no intention of keeping.
Generally, no signup bonus if you up- or downgrade (aka "product change"). There are exceptions, but typically not with Chase. Amex for example has often offered the same bonus as for new signups to upgrade my no-fee Hilton card to one with an annual fee.
Nyc10036
Posts: 1663
Joined: Wed Oct 05, 2016 6:29 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Nyc10036 »

RickBoglehead wrote: Wed Sep 22, 2021 6:37 am I was still in my happy mindset for getting the Chase Sapphire x 2 100,000 points plus $50 groceries back in July. :D
The Chase Saphhire Preferred has the $4000 spend in 3 months.
What did you do to quickly meet that requirement?

Can the 100,000 points be used for statement credit?

It does not look like it has $50 groceries anymore?
JackoC
Posts: 4710
Joined: Sun Aug 12, 2018 11:14 am

Re: Chase Freedom Significant Money Maker for Q4

Post by JackoC »

Nyc10036 wrote: Tue Sep 21, 2021 1:34 pm
Wannaretireearly wrote: Tue Sep 21, 2021 1:24 pm Tag. We have this card. Trying to figure out how best to use the 5% feature!
Buy $1500 in Walmart gift cards if you shop there year-round.
or
Buy $500 VISA or Mastercard gift cards at Walmart with $4.94 fee.
The return works out to 4% after fees.
Yeah Walmart is a relatively easy way to get to $1500 if you shop there a lot and so is PayPal, so depending on spending level it's good or bad news that they are paired. This year so far we only bothered using our Chase Freedom in third Q (groceries) but will also figure a way to max it on PayPal this quarter (we rarely shop at Walmart). But our primary maximization exercise is getting toward the $2500 quarterly limit for 5.25% cash back on all 4 of our BOA Customized Cash Rewards cards. That usually 'crowds out' CF when the CF categories are also BOA CCR 5.25% categories like Costco and gas stations (Q1/2 2021) or restaurants as it sometimes has been. Sometimes there's an attractive enough way to get to the $10k/qtr on BOA CCF (for example Simon Gift Cards when they have a good enough sale on fees, comes out ~4.5% on anything if you buy $2k) *plus* use CF for $1.5k on a BOA CCF 5.25% category, but usually not. And while I chase cash back more than some people, I don't view it as worth the trouble for example to switch the cable bill auto-charge over to CF for 3 months from BOA PR at 2.625% and back to make an extra $5. CF spends much of its time in the drawer.

If as some fear BOA makes their program less attractive things could change. Relative attractiveness of programs is likely to change at *some* point. I'm locked out of more Chase cards by their 5/24 rule for awhile longer though.
fuddbogle
Posts: 198
Joined: Fri Jun 21, 2019 8:35 am

Re: Chase Freedom Significant Money Maker for Q4

Post by fuddbogle »

Nyc10036 wrote: Wed Sep 22, 2021 8:54 am
RickBoglehead wrote: Wed Sep 22, 2021 6:37 am I was still in my happy mindset for getting the Chase Sapphire x 2 100,000 points plus $50 groceries back in July. :D
It does not look like it has $50 groceries anymore?
It's now a $50 hotel credit when the hotel is purchases through the Ultimate Rewards portal.
Walkure
Posts: 1011
Joined: Tue Apr 11, 2017 9:59 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Walkure »

Discover It is 5% on Paypal in Q3 this year, so between that and Chase freedom I will have half the year covered. I find that having both of those no-annual-fee cards is extremely useful as the rotating categories rarely overlap and there is almost always something earning 5% that I would be buying anyway. Also, Discover allows redemption for gift cards with up to a 25% discount from face value depending on the brand, so again getting that sweet effective 6.25%.
Nyc10036
Posts: 1663
Joined: Wed Oct 05, 2016 6:29 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Nyc10036 »

fuddbogle wrote: Wed Sep 22, 2021 10:18 am
Nyc10036 wrote: Wed Sep 22, 2021 8:54 am
RickBoglehead wrote: Wed Sep 22, 2021 6:37 am I was still in my happy mindset for getting the Chase Sapphire x 2 100,000 points plus $50 groceries back in July. :D
It does not look like it has $50 groceries anymore?
It's now a $50 hotel credit when the hotel is purchases through the Ultimate Rewards portal.
Thanks.
That makes it much less attractive.

.
Nyc10036
Posts: 1663
Joined: Wed Oct 05, 2016 6:29 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Nyc10036 »

Walkure wrote: Wed Sep 22, 2021 12:07 pm Discover It is 5% on Paypal in Q3 this year, so between that and Chase freedom I will have half the year covered. I find that having both of those no-annual-fee cards is extremely useful as the rotating categories rarely overlap and there is almost always something earning 5% that I would be buying anyway. Also, Discover allows redemption for gift cards with up to a 25% discount from face value depending on the brand, so again getting that sweet effective 6.25%.
Which gift cards does Discover offer?
Do they have Amazon? Walmart? Visa? Mastercard? Target?
Nyc10036
Posts: 1663
Joined: Wed Oct 05, 2016 6:29 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Nyc10036 »

JackoC wrote: Wed Sep 22, 2021 10:13 am
Nyc10036 wrote: Tue Sep 21, 2021 1:34 pm
Wannaretireearly wrote: Tue Sep 21, 2021 1:24 pm Tag. We have this card. Trying to figure out how best to use the 5% feature!
Buy $1500 in Walmart gift cards if you shop there year-round.
or
Buy $500 VISA or Mastercard gift cards at Walmart with $4.94 fee.
The return works out to 4% after fees.
Yeah Walmart is a relatively easy way to get to $1500 if you shop there a lot and so is PayPal, so depending on spending level it's good or bad news that they are paired. This year so far we only bothered using our Chase Freedom in third Q (groceries) but will also figure a way to max it on PayPal this quarter (we rarely shop at Walmart). But our primary maximization exercise is getting toward the $2500 quarterly limit for 5.25% cash back on all 4 of our BOA Customized Cash Rewards cards. That usually 'crowds out' CF when the CF categories are also BOA CCR 5.25% categories like Costco and gas stations (Q1/2 2021) or restaurants as it sometimes has been. Sometimes there's an attractive enough way to get to the $10k/qtr on BOA CCF (for example Simon Gift Cards when they have a good enough sale on fees, comes out ~4.5% on anything if you buy $2k) *plus* use CF for $1.5k on a BOA CCF 5.25% category, but usually not. And while I chase cash back more than some people, I don't view it as worth the trouble for example to switch the cable bill auto-charge over to CF for 3 months from BOA PR at 2.625% and back to make an extra $5. CF spends much of its time in the drawer.

If as some fear BOA makes their program less attractive things could change. Relative attractiveness of programs is likely to change at *some* point. I'm locked out of more Chase cards by their 5/24 rule for awhile longer though.
To get the 5.25 on your BoA, you have to belong to BoA's Preferred Rewards program.
What is the no-brainer way of doing that ? Merrill Lynch account $100K?



.
Walkure
Posts: 1011
Joined: Tue Apr 11, 2017 9:59 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Walkure »

Nyc10036 wrote: Wed Sep 22, 2021 12:13 pm
Walkure wrote: Wed Sep 22, 2021 12:07 pm Discover It is 5% on Paypal in Q3 this year, so between that and Chase freedom I will have half the year covered. I find that having both of those no-annual-fee cards is extremely useful as the rotating categories rarely overlap and there is almost always something earning 5% that I would be buying anyway. Also, Discover allows redemption for gift cards with up to a 25% discount from face value depending on the brand, so again getting that sweet effective 6.25%.
Which gift cards does Discover offer?
Do they have Amazon? Walmart? Visa? Mastercard? Target?
I don't think they have anything in the way of near-cash equivalents, and if they did it wouldn't get the discount. It's mostly restaurants, legacy department stores, boutique mall tenants, and gift delivery (e.g. flowers, Omaha Steaks, Harry & David). With the pandemic I was using this for a lot of my holiday gift shopping for people I wasn't going to be seeing in person last year.
drk
Posts: 3927
Joined: Mon Jul 24, 2017 10:33 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by drk »

Nyc10036 wrote: Wed Sep 22, 2021 12:20 pm To get the 5.25 on your BoA, you have to belong to BoA's Preferred Rewards program.
What is the no-brainer way of doing that ? Merrill Lynch account $100K?
1. Open Merrill Edge account and BofA checking account (both with bonus, ideally)
2. Transfer assets worth $100k to Merrill
3. Wait three months
4. Profit
A useful razor: anyone asking about speculative strategies on Bogleheads.org has no business using them.
Nyc10036
Posts: 1663
Joined: Wed Oct 05, 2016 6:29 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Nyc10036 »

drk wrote: Wed Sep 22, 2021 12:37 pm
Nyc10036 wrote: Wed Sep 22, 2021 12:20 pm To get the 5.25 on your BoA, you have to belong to BoA's Preferred Rewards program.
What is the no-brainer way of doing that ? Merrill Lynch account $100K?
1. Open Merrill Edge account and BofA checking account (both with bonus, ideally)
2. Transfer assets worth $100k to Merrill
3. Wait three months
4. Profit
Thank you.
That's what I thought.
I don't have that amount of assets to transfer. :(

.
sunsetting101
Posts: 168
Joined: Tue Apr 13, 2021 2:34 am

Re: Chase Freedom Significant Money Maker for Q4

Post by sunsetting101 »

RickBoglehead wrote: Tue Sep 21, 2021 8:57 am PayPal has a virtual debit card called PayPal Key, which is a Mastercard.
PayPal Key is unavailable to me. Looks like they're trying to roll it out to more people. When did you get it?
User avatar
anon_investor
Posts: 15112
Joined: Mon Jun 03, 2019 1:43 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by anon_investor »

OnceARunner wrote: Wed Sep 22, 2021 8:02 am
JoMoney wrote: Wed Sep 22, 2021 7:53 am
OnceARunner wrote: Tue Sep 21, 2021 10:56 am ....
$18,500 of these charges will only generate 1% cashback (unless your spouse also as the card, or you happen to have both the Freedom and Freedom Flex).
I'm pretty sure the 5% quarterly changing categories benefit is offered only with the "Freedom Flex" card.
Not with the "Freedom Unlimited" (or "Freedom Student Card".)
Is there some other "Freedom" card other than the "Flex" that does this?
As Jags said above, but I'll clarify further, there is a Chase Freedom card that is not available to new cardholders. However, if you already had one, your account continues. You can call in and product change to the Freedom Flex if you want, or you can also apply for the Freedom Flex as a new card and hold both moving forward.
I have the original Chase Freedom, I plan to keep it and downgrade my Chase Sapphire Preferred to the Chase Freedom Flex next year before the annual fee. I hope to have Platinum Honors tier Bank of America Preferred Rewards status later this year to get 5.25% cash back on the Bank of America Customized Cash Rewards card. I also have the Discover card. So a lot of 5%+ cash back available! Apparently Citi and US Bank also have cards with 5% cash back on certain categories!
nalor511
Posts: 5016
Joined: Mon Jul 27, 2015 1:00 am

Re: Chase Freedom Significant Money Maker for Q4

Post by nalor511 »

sunsetting101 wrote: Wed Sep 22, 2021 4:29 pm
RickBoglehead wrote: Tue Sep 21, 2021 8:57 am PayPal has a virtual debit card called PayPal Key, which is a Mastercard.
PayPal Key is unavailable to me. Looks like they're trying to roll it out to more people. When did you get it?
A year ago
JackoC
Posts: 4710
Joined: Sun Aug 12, 2018 11:14 am

Re: Chase Freedom Significant Money Maker for Q4

Post by JackoC »

Nyc10036 wrote: Wed Sep 22, 2021 12:20 pm
JackoC wrote: Wed Sep 22, 2021 10:13 am
Nyc10036 wrote: Tue Sep 21, 2021 1:34 pm
Wannaretireearly wrote: Tue Sep 21, 2021 1:24 pm Tag. We have this card. Trying to figure out how best to use the 5% feature!
Buy $1500 in Walmart gift cards if you shop there year-round.
or
Buy $500 VISA or Mastercard gift cards at Walmart with $4.94 fee.
The return works out to 4% after fees.
Yeah Walmart is a relatively easy way to get to $1500 if you shop there a lot and so is PayPal, so depending on spending level it's good or bad news that they are paired. This year so far we only bothered using our Chase Freedom in third Q (groceries) but will also figure a way to max it on PayPal this quarter (we rarely shop at Walmart). But our primary maximization exercise is getting toward the $2500 quarterly limit for 5.25% cash back on all 4 of our BOA Customized Cash Rewards cards. That usually 'crowds out' CF when the CF categories are also BOA CCR 5.25% categories like Costco and gas stations (Q1/2 2021) or restaurants as it sometimes has been. Sometimes there's an attractive enough way to get to the $10k/qtr on BOA CCF (for example Simon Gift Cards when they have a good enough sale on fees, comes out ~4.5% on anything if you buy $2k) *plus* use CF for $1.5k on a BOA CCF 5.25% category, but usually not. And while I chase cash back more than some people, I don't view it as worth the trouble for example to switch the cable bill auto-charge over to CF for 3 months from BOA PR at 2.625% and back to make an extra $5. CF spends much of its time in the drawer.

If as some fear BOA makes their program less attractive things could change. Relative attractiveness of programs is likely to change at *some* point. I'm locked out of more Chase cards by their 5/24 rule for awhile longer though.
To get the 5.25 on your BoA, you have to belong to BoA's Preferred Rewards program.
What is the no-brainer way of doing that ? Merrill Lynch account $100K?
Right, park $100k of ETF's at Merrill, no fees, no sales calls, only the marginal difference of better interest on cash at say Vanguard, for the short periods between distribution and withdrawing or reinvesting the money (at zero commission), which is also virtually nothing now with VMFXX yield 0.01%. And you might get an account opening bonus.

See other threads about rumors/intimations BOA/Merrill will either raise the bar (from $100k) to get 75% bonus or offer a lower max % bonus regardless of balance (nominal 3% cash back on special category plus 75% bonus equals 5.25%), perhaps this November. I can't say whether this is solid enough to hold off doing this if you don't already. As somebody doing it already I don't think they owe me a specified amount of free money but I'll collect what they hand out as long as they do, and go to somebody else's program if it becomes more attractive.
Jags4186
Posts: 8198
Joined: Wed Jun 18, 2014 7:12 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Jags4186 »

JoMoney wrote: Wed Sep 22, 2021 8:26 am
ZinCO wrote: Wed Sep 22, 2021 8:07 am...
It should be noted that the original Chase Freedom is also still available as a downgrade option from other cards. That's how many of us have more than one of them, and the downgrade path is still available as of last week.
Interesting... I have Chase Sapphire Preferred that I only got for the recent 100,000 point bonus. I have no plans on paying the $95 annual fee going forward, I was eyeballing the "Freedom Flex" card as a potential downgrade option (I already have Freedom Unlimited), is the old-style "Freedom Visa Signature" worth considering over the "Freedom Flex" ?
The only advantage of the Freedom vs the Freedom Flex is that on quarters where it has warehouse or gas 5x categories you are able to use the card at Costco. There may also be some ancillary benefits that are still on the Visa card vs. the Mastercard (extended warranty, etc.) but, honestly, I don’t use the cards enough to keep up with that stuff. Most Mastercards have cut all the useful, if not often used, purchase protections.

I have a US Bank Altitude Reserve so I’m already getting 4.5% back at Costco 12 months a year on unlimited amounts of purchases. 0.5% on $1500 spend isn’t that much of an incremental gain.
Nyc10036
Posts: 1663
Joined: Wed Oct 05, 2016 6:29 pm

Re: Chase Freedom Significant Money Maker for Q4

Post by Nyc10036 »

JackoC wrote: Thu Sep 23, 2021 9:25 am
Nyc10036 wrote: Wed Sep 22, 2021 12:20 pm
JackoC wrote: Wed Sep 22, 2021 10:13 am
Nyc10036 wrote: Tue Sep 21, 2021 1:34 pm
Wannaretireearly wrote: Tue Sep 21, 2021 1:24 pm Tag. We have this card. Trying to figure out how best to use the 5% feature!
Buy $1500 in Walmart gift cards if you shop there year-round.
or
Buy $500 VISA or Mastercard gift cards at Walmart with $4.94 fee.
The return works out to 4% after fees.
Yeah Walmart is a relatively easy way to get to $1500 if you shop there a lot and so is PayPal, so depending on spending level it's good or bad news that they are paired. This year so far we only bothered using our Chase Freedom in third Q (groceries) but will also figure a way to max it on PayPal this quarter (we rarely shop at Walmart). But our primary maximization exercise is getting toward the $2500 quarterly limit for 5.25% cash back on all 4 of our BOA Customized Cash Rewards cards. That usually 'crowds out' CF when the CF categories are also BOA CCR 5.25% categories like Costco and gas stations (Q1/2 2021) or restaurants as it sometimes has been. Sometimes there's an attractive enough way to get to the $10k/qtr on BOA CCF (for example Simon Gift Cards when they have a good enough sale on fees, comes out ~4.5% on anything if you buy $2k) *plus* use CF for $1.5k on a BOA CCF 5.25% category, but usually not. And while I chase cash back more than some people, I don't view it as worth the trouble for example to switch the cable bill auto-charge over to CF for 3 months from BOA PR at 2.625% and back to make an extra $5. CF spends much of its time in the drawer.

If as some fear BOA makes their program less attractive things could change. Relative attractiveness of programs is likely to change at *some* point. I'm locked out of more Chase cards by their 5/24 rule for awhile longer though.
To get the 5.25 on your BoA, you have to belong to BoA's Preferred Rewards program.
What is the no-brainer way of doing that ? Merrill Lynch account $100K?
Right, park $100k of ETF's at Merrill, no fees, no sales calls, only the marginal difference of better interest on cash at say Vanguard, for the short periods between distribution and withdrawing or reinvesting the money (at zero commission), which is also virtually nothing now with VMFXX yield 0.01%. And you might get an account opening bonus.

See other threads about rumors/intimations BOA/Merrill will either raise the bar (from $100k) to get 75% bonus or offer a lower max % bonus regardless of balance (nominal 3% cash back on special category plus 75% bonus equals 5.25%), perhaps this November. I can't say whether this is solid enough to hold off doing this if you don't already. As somebody doing it already I don't think they owe me a specified amount of free money but I'll collect what they hand out as long as they do, and go to somebody else's program if it becomes more attractive.
Thank you for the clarification.

I would get an extra 0.25% on $1000 per quarter since the BoA quarterly limit is $2500 vs Chase's $1500 or Citi's $500/month.
Post Reply