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cap on monthly rewards with Chase Freedom

I was squinting at the fine print on the website for the Chase Freedom card (research for next year!), and there's something about a max of $600 on purchases, therefore a max of $18 ($12 + $6) rewards, per month.

Is this on all three categories combined, or is this max for each? In other words, up to $600 for groceries, up to $600 for drugstores, up to $600 for pet/vet (or whatever).

If it's a total of $600 divided among all three, and you wanted to use gas and grocs for two of your categories, you're sure not going to get very far.

It looks more and more like PenFed has the only genuine straightforwards rewards card out there with serious cash rewards for multiple categories, as in more than 1%. (5% gas, 2% grocs, 1.25% everthing else.) Smiley Mad And sorry, I'm not able to spend $13K a year to get the rewards out of a Blue Cash. Smiley Tongue
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Re: cap on monthly rewards with Chase Freedom



haulingthescoreup wrote:
I was squinting at the fine print on the website for the Chase Freedom card (research for next year!), and there's something about a max of $600 on purchases, therefore a max of $18 ($12 + $6) rewards, per month.

Is this on all three categories combined, or is this max for each? In other words, up to $600 for groceries, up to $600 for drugstores, up to $600 for pet/vet (or whatever).

If it's a total of $600 divided among all three, and you wanted to use gas and grocs for two of your categories, you're sure not going to get very far.

It looks more and more like PenFed has the only genuine straightforwards rewards card out there with serious cash rewards for multiple categories, as in more than 1%. (5% gas, 2% grocs, 1.25% everthing else.) Smiley Mad And sorry, I'm not able to spend $13K a year to get the rewards out of a Blue Cash. Smiley Tongue


It's a total of $600 for all 3 top categories.  After you get $18 in rewards (3% cashback), you get 1% on everything in the 3 top categories plus on all your other purchases.  But when you accumulate $200 in rewards, you get $250. Smiley Happy
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9.4.2011: TU 805. EQ 815.
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Re: cap on monthly rewards with Chase Freedom

I think I might be able to answer this next statement. This month was the first month for exclusive Chase Freedom usage, and I ran a lot of money through it. Well, probably around 2 or 3k. I paid all my utilities with it on purpose for 3 percent cash back.

cable/internet/phone - $200
electric - $80
water - $57

That should be about $10 cashback just by itself. I think I'm also supposed to get 3 percent at my other top 2 categories, and then 1 percent for everything else. I'm hopinfg for like $25 or $30 in cash back on this statement. I want to get to $200 so I can claim $250 before they take it away.
Here we go again...
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Re: cap on monthly rewards with Chase Freedom

I think it must be $600 overall in allowable rewards earned per month. It also might be rewards on up to $600 per spending category. I'm not charging enough on the card to know for sure.

I get more than $20 back..usually between $35-$50/month.

They don't break it down by spending category though, you pretty much have to log in and view recent transactions before your statement comes out to see which category your spending is in to see if they allocated your 3% and 1% correctly. (3% back in top 3 spending categories, 1% for every dollar spent outside the top spending) I don't like that feature. It makes me more compulsive than I already am.


{I am quickly becoming a forum addict. Shucks!}
Ficos 8/23/08: EX 805, EQ 774, TU 768
Ficos 1/6/09: Ex 813, Eq 779, TU 770
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Re: cap on monthly rewards with Chase Freedom

Again, it is $600 on the total in your top 3 spending categories.
 
On my statements, it shows what the top 3 spending categories were.
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9.4.2011: TU 805. EQ 815.
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Re: cap on monthly rewards with Chase Freedom

Thanks for the input, everyone! I guess I've just gotten greedy. And I suppose that if you bought $600 worth of groceries with it per month (easy to do), it's worth it.

I just always get caught by these caps. I thought this thing was a cash cow, like the PenFed card.

Maybe I'll come up with some tortured combination of the first $200 on groceries on this card for 3%, and then the rest on the PenFed for 2%, and coerce the utility company into letting me charge, plus Comcast... plus explain repeatedly to DH when he's supposed to use the Chase Freedom and when to use the PenFed, and when neither, because the statements are getting ready to drop... Smiley Tongue

There is something to be said for paying for things with shell necklaces.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Re: cap on monthly rewards with Chase Freedom

Yup, I play the switcheroo on gas purchases.  The 5% back from Disco is only on the first $100/month, so after I've filled up twice  ( Smiley Mad ) using that thingy on my keychain I've got to remember to switch back to Chase Freedom.
 
Trading shells, much easier.
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9.4.2011: TU 805. EQ 815.
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Re: cap on monthly rewards with Chase Freedom

From the Chase Freedom website:
 
  • There is no maximum amount of base rebates or base points that can be earned on net purchases. Maximum bonus rebate accumulation per billing cycle on net purchases is $12 in bonus rebates or 1,200 points monthly, which equates to $600 in net purchases.
  • EQ 814 / TU 815 / EX 842
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    Registered: ‎01-10-2008
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    Re: cap on monthly rewards with Chase Freedom

    I just got approved for this card, they said it was a Chase Freedom Exclusive card, though. I don't know if that makes a difference or not.  She said so much it was hard to write everything down.
     
    I understood it was 3% on up to $600.00 on the top 5 categories, She didn't mention it had to be split between the categories.  Can't I just use $600.00 for groceries and let it be at that?
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    Re: cap on monthly rewards with Chase Freedom



    deerfern wrote:
    I just got approved for this card, they said it was a Chase Freedom Exclusive card, though. I don't know if that makes a difference or not.  She said so much it was hard to write everything down.
     
    I understood it was 3% on up to $600.00 on the top 5 categories, She didn't mention it had to be split between the categories.  Can't I just use $600.00 for groceries and let it be at that?


    Hi deerfern!
     
    From the Chase Freedom website:
     
  • When you reach $600 in spending in the bonus categories, you will only earn the 1% base rebate or 1 base point for each additional $1 of net purchases in these categories. The top bonus categories earning a 2% bonus rebate or 2 bonus points will vary monthly depending on your spending habits.
  •  

    This means that you can spend your $600 exclusively on groceries, and receive your bonus points.  The first time I used my Freedom card was at a "Fast food and quick service restaurant."  That was the only charge that appeared on my statement for that billing cycle, and I received my bonus points. 

    I've never heard of the Chase Freedom Exclusive card.  I looked for it, but couldn't find it on their website.  However, Chase may not have updated their site information at this point in time.  On existing Freedom cards, you earn triple points in the top 3 categories where you spend the most each month.  I don't know about the top 5 categories that you mentioned. 

    Keep us posted on the new card!!!

    EQ 814 / TU 815 / EX 842
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