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Chase Freedom perks, 5% cash back + ultimate rewards, CSP

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gen-specific
Frequent Contributor

Chase Freedom perks, 5% cash back + ultimate rewards, CSP

Hello,

 

How do I intelligently use Chase Freedom's Cash back with Ultimate Rewards, the points system and Chase Sapphire Preferred?

 

I don't currently have Chase Freedom, but I'm ramping up my consumption now and am really getting into the points game, as they've been adequately rewarding my past consumption this year, without me really trying

Message 1 of 7
6 REPLIES 6
longtimelurker
Epic Contributor

Re: Chase Freedom perks, 5% cash back + ultimate rewards, CSP

I just got my Freedom so I am going through the same.   Some use Freedom like discover for cash back, but, apart from devaluations, the better value is to transfer to CSP and then to partners.

 

The earning is limited to 30K UR per year if you can max out each quarter, which may or may not be possible depending on the categories and spending.   The plan is to transfer the Freedom points to CSP each statement, and then, when there is a need, transfer them to partner programs. 

Message 2 of 7
longtimelurker
Epic Contributor

Re: Chase Freedom perks, 5% cash back + ultimate rewards, CSP

And if you have Chase checking, you get a bonus 10% on all Freedom points.

Message 3 of 7
eddie84
Valued Contributor

Re: Chase Freedom perks, 5% cash back + ultimate rewards, CSP

Man, I gotta go in and open a checking account with them. Every little extra bonuses count!
Message 4 of 7
gen-specific
Frequent Contributor

Re: Chase Freedom perks, 5% cash back + ultimate rewards, CSP


@longtimelurker wrote:

Some use Freedom like discover for cash back, but, apart from devaluations, the better value is to transfer to CSP and then to partners.

 


Okay, so I am not interested in the cash back. The only reason they are on my radar right now is a mixture between some mail promotions as well as the amazon.com cash back for this quarter. The other things in the other three quarters this year did not interest me at all, I'm not a lumberjack and I don't use gas stations, lucky me.

 

so I'm trying to figure out if I can intelligently use Chase Freedom in my credit card portfolio at all

 

what is the perk of transnferring the points to partners? I understand that with Chase Freedom in certain scenarios you get a garguantuan amount of points, but how is it better than using them on UR vs the partners?

Message 5 of 7
longtimelurker
Epic Contributor

Re: Chase Freedom perks, 5% cash back + ultimate rewards, CSP

Basically, if you redeem them as URs, you either get about 1c per point for most redemptions, or, if you use them to buy travel through the mall, they are worth 1.25 cents per point.   The tricky bit is comparing what happens when you transfer the points to say an airline.   To make up numbers, let's say by transferring 80K, I can get a business class flight to Europe.  What some people do is say "That business class flight would cost $4,000, so I am now getting 5c per point".   (There are arguments about would you have paid the $4K if you didn't have the points, and if not, is that a real valuation).  And similarly for certain expensive hotels at various times of year you can also get huge valuations.

 

But it's fair to say that for a lot of these transfers, you will get more than 1.25 cents per point, maybe not a lot more, but more.  There are issues about availability, and airlines changing the programs (so United just devalued many of its rewards, greatly increasing the miles needed on partner flights in first class)

 

So transfer is the way to maximize the value.   And the freedom comes in because it CAN earn points quicker, but I am like you, many of the 2013 categories are useless for me, and all I have covered by other cards, but if you want to build up UR, that is one way to help.

Message 6 of 7
gen-specific
Frequent Contributor

Re: Chase Freedom perks, 5% cash back + ultimate rewards, CSP

thanks

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