For those who do not know, the Chase Freedom card has quarterly bonuses that bring your “cash back” percentage from 1% to 5% for a few specific categories. The last quarter of 2015 brought us Amazon.com and a special bonus toward the end of 10% “cash back.”
In the first quarter of 2016, bonuses will be for gas stations and local commuter transportation (defined clearly as not including tolls, parking, or Amtrak).
The reason why I keep writing that term in quotation marks is that – yes, it can be used to get a statement credit – but then you would only be getting 1 cent of value for each point you receive. Instead, if you have another Chase card like the Sapphire Preferred or the Ink Plus, you can transfer those points to a variety of airlines and hotel chains to maximize your point value. My wife and I recently redeemed points at 21 cents per point for a Korean Air first class plane ticket. It’s fantastic.
So, yes, please click here to active your Q1 bonus (you do not get the bonus unless activated). But, then, please ask me to refer you to the Chase Sapphire Preferred so you can maximize your benefit.