![]() Related: Sapphire showdown: Chase Sapphire Preferred vs. Chase offers two of the best anchor cards on the market, although you’re only allowed to hold one of them at a time: the Chase Sapphire Reserve and Chase Sapphire Preferred Card. It needs to be a card that offers strong bonus categories, transferable points and a decent selection of perks and benefits. This is the one card you would keep if you had to discard the rest. The first thing you want to consider when building a multi-card strategy is which card will serve as your anchor. Today, we’ll look at the best ways to use up your five slots with Chase. ![]() Once you go over 5/24, it takes time and discipline to get back under, so you’re better off picking up the Chase cards you want now before they become inaccessible to you. The consequence of this rule (coupled with the fact that Chase issues some of the best credit cards on the market) is that people who are new to travel rewards should start with Chase cards before moving on to cards from other issuers. ![]() Related: How to calculate your 5/24 standing If you’re not familiar with the 5/24 rule, I strongly suggest starting with this guide to see which cards are counted and which cards it affects. This Chase rule (that isn’t published externally, but is still very real), says you’ll automatically be rejected for a new card if you’ve opened five or more credit cards in the last 24 months across all banks. One such restriction you may encounter is Chase’s 5/24 rule. If you love traveling, you should consider pairing the Chase Freedom card with a premium Ultimate Rewards card such as Sapphire Preferred or Ink Plus if you run a business.Editor’s note: This is a recurring post, updated with new information.ĭue to Chase’s restrictions on credit-card applications, the smartest move for building your credit card strategy is opening credit cards from Chase before moving on to cards issued by other banks. If you do, you will be able to transfer your points to a partner airline or redeem them on the Chase Ultimate Rewards travel website with a 20 percent bonus. Your points will always be worth one cent each unless you also have or will have a premium Ultimate Rewards card. Can’t transfer points to the partner airlines.You need to remember to activate the bonus every quarter.The five percent bonus categories are capped at $1,500 per quarter.The points don’t expire as long as you have any card from the Chase Ultimate Rewards portfolio.Can earn more points at the Ultimate Rewards Mall with featured merchants.Great earning scheme with rotating categories.You can also redeem points for gift cards, Amazon shopping, or travel booking on the Ultimate Rewards website. The least complicated way to redeem Ultimate Rewards points at one cent per point is for cash back While you can’t order a check from Chase, you can always use the points toward your credit card statement, which is almost the same thing. Chase often runs special at its Ultimate Rewards Mall. If you want a higher return, Chase runs special on its Ultimate Rewards Mall online, where you can often get two, three or even six points for a dollar. 1 point per dollar on all other purchases.5 points per dollar in quarterly rotating categories up to $1,500 per quarter.Historically, there have been $200 and $300 sign-up bonuses for this card. The current sign-up bonus is $150 after you spend $500 in the first three months and additional $25 when you add an authorized user. But even as a simple cash-back card, Chase Freedom shines compared to its competitors with a generous $150 sign-up bonus and five percent cash back in quarterly rotating categories. Unfortunately Freedom cardholders don’t have this ability. Ink Plus Business (premium): can transferĬhase Freedom offers a generous $150 sign-up bonus and five percent cash back in quarterly rotating categories.īeing able to transfer points to partner airlines is one of the best, if not the best, feature of the Ultimate Rewards program.Sapphire Preferred (premium): can transfer to airlines.There are currently four Chase Ultimate Reward cards, down from six last year: It belongs to the Chase Ultimate Rewards family of cards, which also happens to be one of the best travel reward programs in the market. Who Is the Chase Freedom Credit Card Good For?Ĭhase Freedom is one of the best, no-annual-fee consumer credit cards.
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