How does Chase Freedom point system work?

[kkapdolee]

I know they have 5% rotating categories and 1% everything else but I've read something about them giving back 10% of the rewards earned every month or every year?

How does that work? Do I have to keep the points in the account and not spend it in order to get that extra 10%?

[maiden_girl]

+ 1% (1 Pt) per $1 earned on all purchases
+ 10% Extra points per $1 you spend
+ Bonus 10 points on every purchase (only if you have a checking/credit card relationship before March 2013. Program ends soon and will be replaced with annual 10% bonus)
+ Bonus 5% quarter category

Hope that helps!

FYI, Chase currently has a $200 sign up bonus going on if you spend $500 within 3 months of account opening. Pretty good deal if you ask me!

[kkapdolee]

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@maiden_girl wrote:

+ 1% (1 Pt) per $1 earned on all purchases
+ 10% Extra points per $1 you spend
+ Bonus 10 points on every purchase (only if you have a checking/credit card relationship before March 2013. Program ends soon and will be replaced with annual 10% bonus)
+ Bonus 5% quarter category

Hope that helps!

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Thanks,

For clarification,

is 1% category 1.1 points per dollar + 10 points per purchase regardless of the purchase amount

and 5% category is just 5 points per dollar and no + 10 points per purchase?

I do have two checking accounts with Chase opened a while ago.

When the current program ends and the annual 10% bonus happens, will I need to keep the points in my accounts in order to get the 10% or will they give it to me regardless whether I'd already spent all my points or not?

Also will the 10% bonus only apply to 1% categories?

Thanks again in advance.

EDIT: Actually, I've been using my CS to buy lunch to get 2% back. However, if I buy a $10 sandwich with Freedom, does that mean I would have gotten 1.1% + 10 points (which is equivalent to another 1% in this case) for a total of 2.1%?

[longtimelurker]

The 10 points bonus has ended for most and should end for all by year end so I wouldn't worry about that.

The 10% bonus (for those with Chase Checking) applies to all points (not just basis points) which is why a few people may do better with the new scheme.  You don't need to keep them, like the CSP bonus, it is based on points earned, whether you redeem them or not doesn't matter.

[E150GT]

I have never seen a 10% bonus on my freedom 

[maiden_girl]

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@E150GT wrote:

I have never seen a 10% bonus on my freedom 

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Check your statement. As of now, it's calculated monthly. This was pulled from my own statement

[bribro]

The old 10&10 program (what maiden_girl is describing, but is no longer available to new customers) and current 10% annual bonus are for people who have a properly linked Chase checking account. The bonus is retroactive, so if you've been using your Freedom card heavily you should still be able to open up a Chase checking this month and get the 10% bonus on all points earned in 2013.