Chase Reward Programs - How do you choose

[Anonymous]

I have asked this question several times within other threads and not received a response, so I am trying again   I truly do not understand rewards programs and how you determine good programs from those that are wasting your time. Cheddar wrote something about reward programs long ago, but I dont remember what post it was on.

I sent an email (2nd attempt) regarding adding rewards to/product change my WaMu Plat Visa. The response I received today just rambled thru the available programs and advised me to call in for additional assistance. Many on the board chose the Perfect Card, others chose Freedom, etc.  I truly do not know how to determine which is the best for me and/or how you determine what reward program is a better value. Please give me any suggestions to determine how to select a good rewards programs. Following is what was emailed to me from Chase for their some of their reward program options:

Flexible Rewards: Earn 1 point for each $1 in purchase and 2 points for each $1 spent on qualifying travel purchase through our Travel Redemption Center. Points can be redeemed for merchandise, gift certificates, cash, or travel. Points have a 5,000 monthly cap/60,000 yearly cap and will expire 60 months from the month earned.

Flex Rewards Select: Earn 1 point for each $1 in purchase and 2 points for each $1 spent on qualifying travel
purchase through our Travel Redemption Center. Points can be redeemed for merchandise, gift certificates, cash, or travel. There is no monthly or annual point cap and earned points do not expire. This program has an annual
fee of $29.00, $39.00, $49.00, or $59.00.

Free Cash Rewards: Earn 1 point for each $1 in purchase and 1 point for each $1 in finance charges. 2500 points = $25 check or gift card from participating merchants. Points have a 60,000 annual cap on purchases. There is not a cap on finance charges, and points expire 24 months from the month earned.

PerfectCard Rewards: Earn 3% rebate on all gas purchases within the U.S. and 1% rebate on all other purchases. Earned rebates are automatically applied as a credit to the following month's statement. There is a monthly limit of $15 in rebates on the 3% earnings, and no limit to the amount of rebates on the 1% earnings. Rebates will expire if there are no purchases made within six months.

There may be other rewards programs they offer, but this is all that was referenced in the email. Maybe this is what I qualify for. Any insight is greatly appreciated. Thanks in advance.  

Message Edited by PurpleHaze on 03-24-2009 11:14 PM

[iwantbettercredit]

I think your question is asking if someone would tell you how to determine which card is best for you.  I have to tell you I dont think anyone can answer that question except you and that is why there are no responses.  Of course everyone want to earn rewards for spending their money but it is up to you as to how much do you want to earn. If you purchase alot of gas on your credit card then you would want a high reward for gas purchases, or if groceries then focus on grocery purchases, do you see where i am going with this? Noone other than you would know your spending habits and what is best for you. May be you do not use your credit card for gas or groceries, in that case maybe you do not need rewards. 

[Anonymous]

They sent me the same list purp, along with a huge grouping of co-branded cards. I asked for either the Freedom or the Home Improvement card because none on their list were of interest to me.

I've found that few of the proprietary cards do me much good. I don't buy gas and I spread my spending around a LOT. I guess you just have to take a stab at which one you would use most. The Perfect card seems great if you buy gas. 

[Anonymous]

You DO buy gas, don't you?  Get a card with good gas rewards, and use it just for that.  I have a Discover Open Road card that I get 5% back on the first $100 a month for gas or auto parts/repairs, and a pittance (.25% I think) for anything else.  So that's what I use it for:  the first $100 of gas or car parts/repairs that month.  Everything else goes on a Chase Freedom Rewards card.

[Anonymous]

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@iwantbettercredit wrote:
I think your question is asking if someone would tell you how to determine which card is best for you.  I have to tell you I dont think anyone can answer that question except you and that is why there are no responses.  Of course everyone want to earn rewards for spending their money but it is up to you as to how much do you want to earn. If you purchase alot of gas on your credit card then you would want a high reward for gas purchases, or if groceries then focus on grocery purchases, do you see where i am going with this? Noone other than you would know your spending habits and what is best for you. May be you do not use your credit card for gas or groceries, in that case maybe you do not need rewards. 

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Nope don't need anyone to tell me what is best for me.  I spend alot, purchase alot, etc.  My question pertains to rewards and/or rebates.  For example, the credit card may offer points, however if it takes a bazillion points in order to obtain cash back for example, it may not be a good value. I shop (spend) alot and use alot of gas since I have a suv. So I am looking for some type of way to determine which program will give me the most bang for my buck.

[Creditaddict]

If you can get Freedom, I would take that hands down. My friend could only get Perfect or some travel, in that case I feel Perfect is the best option.

[athensguy]

I personally think the best Chase card is the BP Visa, as long as you have BP nearby. 5% on BP, 2% on restaurant (-fast food) and travel, and 1% on everything else, redeemable for checks.