How Patience, Fortitude And The Chase Freedom Card Can Really Pay.
Mar 11th, 2008 | By moneyking | Category: Money
For your consideration: How Patience, Fortitude And The Chase Freedom Card Can Really Pay.
Of all the choices of credit cards out there, The Money Kings get asked, “Which one do you recommend?”
This is a tough question to answer. We find that most credit card users are looking for:
- Low interest rates.
- Good customer service.
- Some sort of air miles, reward or cash back program.
- 0% interest on balance transfers.
- No annual fees.
- Insurance, if the card is stolen.
These are all great things to look for in a credit card. The Money Kings can endorse all of this.
Today we’re focused on item #3, however. We think we’ve found the very best cash back program for a credit card available. And, we’re going to give it to you:
The Chase Freedom Card
Mind you, The Money Kings don’t endorse using credit cards at all UNLESS you’re sure you can pay off your balance each month.
In fact, if you know you’re bad with credit cards, just stop reading right now . . .
Now that that disclaimer is over . . .
Our readers should know that one of our crew charges everything he can to his credit cards each month just to reap the benefits that being particularly meticulous with your credit usage can garner. If he buys a pack of gum, it goes on the card. If he buys a treadmill, same story. No joke. No BS.
Chase Freedom pays 1% on all purchases, and up to 3% on all gas, grocery and fast food expenses. This is fine. Discover Card has a similar program. We endorse them as well.
Here’s the kicker in the fine print with the Chase Freedom Card, however.
If you DON’T cash in your reward dollars when they reach $50 (the earliest time you can claim your money), and WAIT till you have $200 in rewards saved up on your account—listen close—Chase Freedom will give you an extra $50 for FREE!
That’s an extra 25%!!!!!
. . . over your existing reward amount.
That’s some serious free cash, percentage-wise, IF you can be patient, keep track of your expenses like a hawk, pay off your balance each month, and keep out of credit card debt.
It’s a sexy, but risky game.
Dave Ramsey is NOT going to be happy with us for this . . .
Good luck out there.
Keywords: chase, freedom, card, 50, bucks, patience, fortitude
For years Discover card was paying me to use their card, it was friggin awesome! Then uh… well I needed some things I didn’t exactly have the cash for and uh… well… it rhymes with “frankruptcy”.
The Chase Freedom offers 3% cash back on your top three out of fifteen spending categories each month. Chase will automatically calculate this for you each month and the top three categories can change each month. Not a bad bonus of $50 just for being patient to get your cash back reward.
Good point with the additional 3% cash back bonus! Whats not to love about that!!
Chase Freedom Card is one the most popular card in its category. Recently Citibank claims its Citi CashReturns Card is much better when it comes to cash back.
It’s normal for cash back and rewards credit cards to comes with higher interest rate. As such, you should always ensure you are able to pay the balance in full in order to enjoy the rewards. Otherwise, the rewards can be easily offset by the bank charges and fees.