How To Maximize The Chase Freedom 5x Bonus For q2
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Today we’re going to talk about the q2 categories for the chase freedom card. One thing to be aware of is that categories themself are not finalized yet. If you currently go to their website, you’re not going to see anything for q2. But if you call chase, they’re all going to give you the same answer. When you talk to frontline representatives, they’re not always right.
Given the situation, it’s going to be likely that it is these categories that probably get the memo internally for the q2 categories. We’re looking at our groceries paypal as well as chase pay. You’re going to get 5x back for up to $1500 for q2. That’s in April May and June.
You spent $1,500 at the grocery store and you spent money through paypal. You’re only going to get 5x back for that $1500. They are going to be the groceries you can mix up. However if you want more for the first $1,500 that hit any of these categories, what’s going to matter at the same time is that you’re also not going to get 5x back for doing Chase pay at a grocery store.
That’s a very commonly asked question. You’re only going to get 5x back for one of them. You’re not going to double dip it. An easy way to think of it is that it’s a funnel or if you’re familiar with that. If your transaction is through Chase pay than 5x back else, it goes to the next statement. If from a grocery store, you get the idea that once it exits the funnel it can’t keep going down.
Once it goes through the Chase pay, it doesn’t matter if the Chase pay was a grocery store or something else randomly. Even though it’s not finalized, it is as a filming. This is the reason why I am willing to film it. They are going to be these categories. Because chase oftentimes in the past at least has chosen the same categories as discover. Discover already announced a whole calendar for 2018.
For q2 we have grocery stores. Looking through the strategy, you might want to take off the chase cards. Let’s start off grocery stores. It’s going to be easy for a lot of people especially if you buy a lot of stuff and also especially if you have a family.
Another thing you can do is that you can typically buy gift cards. You go to Trader Joe’s a lot but you don’t spend $1,500 in three months. You can pre buy Trader Joe’s gift cards to use for the rest of the year. In the past this was something that I’ve done because Trader Joe’s typically gave me good deals for a lot of stuff and also because sometimes I’m lazy.
So it’s convenient if I’m going to spend out money in July, August and September. If I pre buy the gift cards as long as I keep track of the numbers, it’s not going to be a problem.
One final thing you can do with the grocery store is that some of them sell gift cards for other places. Your mileage is going to vary. Something to be aware of is that some of them will let you buy other gift cards using your taste freedom card.
This means it can buy gift cards for a lot of different places, a lot of retail stores restaurants as well as other online things assuming your grocery store.You’re going to have a lot of different choices but Europe mileage is going to vary. Some grocery stores will not take credit cards.
Moving on to the next category, we have PayPal. This one is also easy especially if you do a lot of online shopping. Depending on where you shop online, a lot of different websites give you the option to pay off through PayPal or to pay directly off a credit card.
This means that you can pay off PayPal and get that 5x back straight forward. If you have any big purchases coming up or if you do a lot of online shopping, PayPal is going to be easy to hit the 5x back.
The final one is going to be Chase pay. It depends on the places to go and whether they accept Chase pay. There’s a lot of different options but a few big ones are Best Buy as well as Walmart. Of the three options, chase pay is probably going to be the hardest one to use. But it depends on your city and what the adoption rate looks like.
Given the number of options we have and also how flexible most of them are, I wouldn’t recommend buying gift cards for the grocery store unless we’re towards the end of q2. You’re near that cap but not over it. The main reason for this is that it doesn’t make sense to buy $1,500 at a pop for all grocery stores.
If you have some big online purchases where you can pay with PayPal and you want to get that 5x back but you don’t want to lock in money unless you need to, and if you know that you’re going to spend money elsewhere that also gets five, I expect that you might as well do that.
If you’re looking to apply for the Chase Freedom Card and you want to support our channel, an easy way would be to apply for the card using the links on our site. In case you’re new to this channel when you’re wondering why we’re talking about this, the main goal is to get the most money back for money that you’re already spending.
Don’t buy stuff that you can’t pay off straightforward of credit cards. If you have a Chase Freedom Card and you don’t have any other cards, 5x back is going to be up 1 cents per point. That’s effectively 5% back if you have the CSP.
You’re getting one point two five cents per point if you book with the travel portal. Five percent back is six point two five percent of the Chase Sapphire reserve. It’s one point five cents per point. You’re getting about seven point five percent return under spend and getting seven point five percent back on money.
You aregoing to spend to me at least as a no-brainer. One final reminder is at Costco as well Sam’s Club. Do not code as grocery stores because they’re not grocery stores. Even if you view it that way, the same thing of Target and Walmart might exist. Some Walmarts do Coda’s grocery stores.
In the past chases oftentimes made disclaimers saying that targets and Walmart don’t count even if they are considered grocery stores. You can buy a lot of things in many places that aren’t groceries. You’ll be able to activate q2 on March 15th. You need to wait until q2 starts. So before the 5x pack for those categories, start counting in case you’re wondering.
For me I’m probably going to end up hitting the cap of PayPal as well as Chase pay. I might be buying a few things from Best Buy assuming that they are on sale and they’re the best price. It is an easy way to hit that 5x back.
So I hope this is helpful and let me know if you have any questions. My question for you is that of these categories which ones do you think you’re going to use to hit the 5x back. Let me know in the comments down below. If you benefit from what we talked about, feel free to share this article. Because it’s probably going to help others out. Thanks for reading.