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This quarter Chase Freedom is teaming up with Amazon and a few other online retailers to offer 5% cash back on purchases made through Amazon. If you have a card that earns Ultimate Rewards points, such as Chase Sapphire Preferred or Ink Plus, you can easily convert that 5% cash back to 5 points per dollar spent. From there, you can transfer Ultimate Rewards points to travel partners like Southwest, Hyatt and United.
This is great news for frequent Amazon customers, and it’s also a solid opportunity to rack up points on grocery purchases. The company’s Prime Now service offers delivery within an hour or two, with grocery items as well as electronics available. This service is only available in a handful of cities, including Austin, Baltimore and New York. Keep in mind that you’ll need a subscription to Amazon Prime, which is $99 per year (a 30-day trial is also available).
If you do meet these criteria, though, buying groceries through Prime Now is a great opportunity to earn 5x.
The charge will ultimately show up on your credit card statement as Amazon.com, so Chase will apply the bonus. Of course, this will work on all Amazon products (not just Prime Now), but being able to earn 5x Ultimate Rewards points on grocery purchases is particularly exciting.
Keep in mind that even though the promotion is active until December 31, you must register your card through Chase by December 14 to take advantage of the program.
If you don’t already have the card, now’s as good a time as any to sign up — Chase Freedom is currently offering a sign-up bonus of $100 (or 10,000 points) after you spend $500 in the first three months. Note that Chase’s quarterly 5x promo only applies to the first $1,500 in combined purchases, so if you spend $500 on Zappos (another partner), for example, you’ll only be able to earn 5x on $1,000 in Amazon purchases.
H/T: TPG Reader Brock M.
|Intro APR||Regular APR||Annual Fee||Foreign Transaction Fee||Credit Rating|
|0% for 15 months||15.49% - 24.24% Variable||$0||3.00%||Excellent/Good|