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30,000 Ultimate Rewards points on the Chase Freedom credit card after spending $500 is not a great offer by itself, but is an improvement over the other offers of 20,000 and 25,000 points.
There is no annual fee on the Chase Freedom card, but there is a 3% foreign exchange fee.
I updated the “Bank Reward Points” tab with this offer as soon as I found it yesterday so that my readers would know of only the best bonuses for a particular card!
If you’ve applied for the card with a lower bonus in the past 3 months, you should send Chase a secure message or call them and ask them if they can match you to this offer. Chase is usually very good about matching you to the higher offer!
These 30,000 Ultimate Rewards points cannot be transferred by themselves to air and hotel partners.
However, if you have a Chase Sapphire Preferred or the Chase Ink Bold card you can combine Ultimate Rewards points from this card (Chase Freedom) and transfer them to air and hotel partners (United/Continental Airlines, British Airways, Hyatt, Marriott, Priority Club, Korean Air, and Amtrak) at a 1:1 ratio.
Or you could redeem your 30,000 points for a $300 check.
The main benefit of this card is being able to take advantage of the quarterly bonus categories which offer a 5% bonus up to $1,500 or an extra 7,500 points per quarter for spending in those categories.
For example, if you had spent $1,000 on groceries in January, February, and March you would have earned 5,000 (1,000 X 5) Ultimate Reward points.
- Quarter 1 – Grocery Stores & Drugstores
- Quarter 2 – Home Improvement stores, Lawn and Garden stores, Home Furnishing stores
- Quarter 3 – Gas, Hotels, Airlines
- Quarter 4 – Dining, Department stores, Movie theaters, Charitable organizations
That’s another 30,000 Ultimate Reward points if you max out the quarterly bonus categories by spending in specific categories.
So big spenders may be able to get 60,000 Ultimate Reward points from this offer (30,000 as a sign-up bonus and another 30,000 after spending $6,000 in the quarterly categories).
More importantly, you could get 30,000 Ultimate Rewards points each year by spending $6,000 on the Chase Freedom card in the quarterly categories.
I don’t have the Chase Freedom card, but if I did, I MAY have maxed out on only quarter 1 and quarter 3 categories since I’m not a big spender.
The Points Guy says that you can get an extra 10 points per transaction and a 10% bonus if you have an eligible Chase checking account. The extra 10 points per transaction makes the Chase Freedom a great card for low dollar transactions. For example, buying a $1 candy bar would earn you 10 bonus points!
Bottom Line: I won’t be applying for this card because a 30,000 point sign-on bonus doesn’t excite me and I’m maxed out on Chase offers, but it may interest those of you who had already decided to apply for the Chase Freedom. Or those of you who can spend $6,000 in the quarterly categories each year.
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Disclosure: I don’t get any referral bonus or commission from Chase or anyone else for this post or for the links to the Chase credit card in this post.