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Update: The Chase Freedom card no longer offers a bonus of 10% on all purchases plus a 10 point per transaction bonus additional 10% Cash Back. Instead, both of those benefits have been replaced with a 10% annual bonus at the end of the year on all purchases.
The Chase Freedom is a cash-back card that gives 1 point per dollar spent on all purchases and up to 5 points per dollar spent on rotating categories – all with no annual fee. Each point is worth 1 cent back in rewards, so you can get up to 5% back if you maximize your category spend. Plus, Chase is currently offering 10,000 points for signing up and as I’ll note below, you can transfer them to your Ultimate Rewards account if you have a Chase Sapphire Preferred® Card or Ink Bold With Ultimate Rewards card.
For October-December the categories are: Dining, Charitable Organizations, Department Stores and Movie Theaters. For the 5x bonus, spending is capped at $1,500, but that would equate to 7,500 points. And as I’ve written about before, Chase is super lenient with transferring points between accounts and to other Chase customers, so these points can be transferred to anyone who has a Chase Chase Sapphire Preferred® Card card, thus making them transferable at a 1:1 ratio to Continental/United, British Airways, Korean Air, Marriott, Hyatt, Priority Club and Amtrak. Earning 5 Continental miles per dollar spent is pretty incredible – especially since many of us will be shopping at department stores or making charity donations this coming holiday shopping season. Plus, if your retailer participates, you can shop through the United Mileageplus Shopping mall for even more points.
On top of all this, Chase is giving away $1 million dollars to one lucky Facebook follower and will also be giving away $500 an hour to instant winners, just for liking them on Facebook and signing-up here. I’m not huge into contests, but this one only took 30 seconds to sign-up for so might as well!