Beginning today, July 1, 2016, and running through the end of September, spend at restaurants and wholesale clubs will earn 5x Ultimate Rewards points (or 5% cash back) on up to $1,500 in purchases made with your Chase Freedom credit card.
To receive the 5x points (5% cash back) per dollar spent, you will need to activate this quarter’s bonus on your card. If you’ve not already done so, do it now at this link.
Earning the 5x bonus at restaurants is pretty easy. Simply go out to eat and use your Freedom credit card to pay. And bam, watch the points roll in. If you rarely cook at home, eating most of your meals out, this quarter is a big earner for you.
If, however, you eat out, but not enough to max out the $1,500 for the quarter, then using the wholesale clubs to make up the difference may be of interest.
Yes, your general purchases at wholesale clubs will earn the 5x benefit – but if you’re not one to buy 5 gallon jugs of mayonnaise or 25 pounds of chicken like you see at these establishments, don’t forget that many sell gift cards, as well.
Planning a purchase at Home Depot? Get a Home Depot gift card from the wholesale club and earn 5x on that Home Depot purchase. Or purchase gasoline gift cards and earn 5x on filling up your car. The options to earn 5x are limited only by the gift cards sold at your local wholesale club, and, of course, your needs.
Remember, as long as your have a premium Ultimate Rewards earning credit card (Chase Sapphire Preferred, Chase Ink business credit card) to pair with the Freedom, all points earned can be transferred to your premium card’s account and then on to the travel parter of your choice at a 1:1 transfer rate.
A few of the travel partners include: United Airlines, Southwest Airlines, Hyatt hotels, Marriott hotels and IHG hotels.
If you were to max out each quarter’s $1,500 of spend on the Freedom bonus categories, you’d have 30,000 Ultimate Rewards points each year.
Enough points for one roundtrip, economy class United Airlines ticket to any destination within the continental U.S. (25,000 United miles).
Or, enough Hyatt points to stay six nights at a Hyatt Place hotel priced at 5,000 Hyatt Gold Passport points per night.
As you can see, there is significant value in maximizing the Freedom card’s bonus categories to earn extremely valuable Ultimate Rewards points.
So start earning 5x points today by enjoying a meal out to kick off your long, 4th of July weekend.
Chase just announced that from July 1 – July 31, 2016, Freedom cardholders will earn 10x Ultimate Rewards points (or 10% cash back) on hotel and car rental purchases booked through chaseultimaterewards.com. Combined hotel and car rental purchases up to $2,500 will earn the 10x points/cash back.
A nice little perk if you haven’t booked your summer travel plans yet. Or future travel plans for that matter, since the July 2016 requirement is for purchase of the travel only.