Last week Chase made several changes to two of their most valuable credit cards and incase you missed the news I thought I would write a quick post to bring you up-to-date. The good news is there is an increased offer, the bad is that one of Chase’s most long-standing valuable offers just got harder to reach.

$200 Sign-up Bonus Offered on the Chase Freedom

The sign-up offer on the Chase Freedom card recently increased to 20,000 points after you spend $500 in the first three months. The bonus is worth $200 in cash back when redeemed. Another option is that you can transfer the points to Ultimate Rewards points if you also have a premium Ultimate Rewards earning credit card like the Chase Ink, Ink Bold, or Chase Sapphire Preferred.

Normally the bonus on the card is 10,000 bonus points, but periodically we will see this increased offer for 20,000 points which makes it a great time to apply for the card if you don’t already have it.

One of the biggest benefits of the Chase Freedom is that cardholders earn 5x bonus points for the first $1,500 spent within each eligible rotating category, every other purchase earns you 1% cash back.

The 5X earning bonus categories for the 2014 year and look like this:

  • Q1 (January 1 – March 31, 2014): Gas stations, movie theaters and Starbucks stores
  • Q2 (April 1 – June 30, 2014): Restaurants and Lowe’s Home Improvement stores
  • Q3 (July 1 – September 30, 2014): Gas stations and Kohl’s
  • Q4 (October 1 – December 31, 2014): Amazon.com, Zappos.com and select department stores

Minimum Spend Increased to $4,000 on the Sapphire Preferred

The Chase Sapphire Preferred card is among the top fixed point earning cards and has consistently offered a high sign-up bonus of 40,000 Ultimate Rewards points. However, this sign-up bonus got a little less sweet last week when the minimum spend on the card increased to $4,000 within the first 3 months. Still a great deal if you don’t have a problem hitting the spending requirement.

You can get incredible value from Ultimate Rewards points by transferring at a 1:1 ratio to transfer partners that include United, Southwest, British Airways, Hyatt, Marriott, Korean Air, Priority Club, Ritz-Carlton, Virgin Atlantic and Amtrak. The two biggest benefits of earning Ultimate Rewards points is that they allow you maximum flexibility on how you want to use your points and also protect you against specific program devaluations. You will always have flexibility on how you decide to redeem them.

The Bottom Line

Both of these Chase cards are still valuable to have in your wallet and combined can allow you to earn some of the best rewards points out there.

✈ If you enjoyed this post, sign-up to receive blog posts via email (max of 1 email per day) or like us on Facebook! And as always feel free to ask questions in the comments below or email me.

2 Comments

  • Good thing I got the Chase Sapphire when I did! I got it in August and it was after a $3,000 spend that you get the points. It is a great card!!