One of the topics that frequently comes up on this site is the topic of travel rewards. I’ve written about my introduction to the hobby known as travel hacking. This hobby has allowed me to visit some pretty cool places. I even have a trip booked for later this summer, which will extend my successes in this field.
I realize that some people are afraid to leave the country. Others just don’t have much interest in leaving their hometown. That’s understandable. So while you might not be able to or even want to save thousands on a trip, you are not out of luck when it comes to credit card rewards.
There are many credit cards that offer cash back. However, if you’re looking to make a quick buck, few will beat the Chase Freedom.
The Chase Freedom (you can use the link to sign up) is a pretty good card if you have solid credit from a previous car loan or a mortgage. First, there’s no annual fee associated with it.. In other words, you don’t have to worry about getting charged for holding this card–ever!
The second solid opportunity that the Chase Freedom offers for you is the opportunity to get a signup bonus of at least $155 without spending anything that you wouldn’t be spending anyway. There is a signup bonus that’s touted at $150. However, you need to spend at least $500 within 90 days of the card getting opening.
With a cashback feature of at least $0.01 per dollar spent, you’d get at least $5 additional just from meeting the minimum spend. This brings the bonus up to at least $155.
You can also get another $25 bonus from adding an authorized user and making a purchase within the first three months. This gets you to at least $180 if you hit all of these hoops. Keep in mind that you can have your spouse or significant other as an authorized user.
The third major benefit that the Chase Freedom offers cardholders is a bonus of 5 percent cash back on rotating categories each quarter. The third quarter of 2017 is about to hit, and restaurants are one of the categories that gets $0.05 per dollar that you spend back, up to a maximum of $1,500 a quarter. I would not recommend spending this much on eating out unless you travel and get a per diem reimbursement. If you spend $100 a month eating out, you’d get an additional $15 over the quarter.
Some quarters will have the bonus on purchases from grocery stores or gas. These can add up over the course of a year.
How To Meet The Minimum Spend On Chase Freedom
You only have to spend $500 in three months. You can probably hit this if you just charge what you’d normally charge for gas and groceries. Don’t buy anything that you wouldn’t normally buy. Do not go over your budget. Do not get tempted to buy stuff that you don’t need. Buy only what you’d normally buy.
If you spend $170 a month on gas, eating out, and groceries, you can get at least $155 for doing nothing more than spending a couple of minutes on the application. All you have to do is swipe this card instead of a debit card. If you normally write a check or use cash, this can even save you time at the checkout counter.
What To Use The Chase Freedom Bonus On
You can use the bonus cash back on basically anything. You could pay your bill off with it. Another option would be saving the money toward an emergency fund if you don’t have one. Also, there’s the opportunity to use the bonus to start investing in a stock or ETF. The options that you have are pretty endless. And the coolest thing about this bonus is the fact that you have to do very little out of the ordinary to get it.
Warning About Credit Cards
If you’re in a load of debt, the Chase Freedom will not help you pay off the debt, although you could save on some interest with the 0 percent introductory rate. If you’re not responsible with any credit card and run up charges that you can’t pay off, you’ll lose the entire benefit of the bonus. This is something you’ll definitely want to avoid. If you don’t plan to pay off the entire bill each and every month, and if you’re given to big spending, I do not recommend getting any credit card.
If you are responsible, however, the Chase Freedom is a good option to get started with the benefits of a cashback card that has no annual fee and a signup bonus that you can use to benefit your finances. You can sign up for the Chase Freedom here. The signup bonus is definitely a great way to earn money in pajamas.
Disclaimer: This post has referral links. I may be compensated should you sign up. As always, I appreciate any support.