Chase Freedom is a credit card that offers 1 Ultimate Rewards point per dollar for most purchases and then 5 Ultimate Rewards points per dollar in select categories that change on a quarterly basis. For January through March of 2016, you can get 5 points per dollar when you use your Chase Freedom card at gas stations or for various public transit and ride sharing services.
The one catch is you need to register each quarter before the 5X bonus kicks in. Registration is already open — I got an email on Wednesday. Or, if you didn’t get an email, you can still log in to register online.
“Local commuter transportation” includes the following ride share services and nearly any public transit agency:
- Local and suburban passenger commuter train and subway fares (excl. Amtrak)
- Local commuter tickets
- Local commuter ferry tickets
The one caveat to the 5X bonus on the Chase Freedom card is that it only applies to the first $1,500 in purchases that quarter. After that it drops back to the regular 1 point per dollar. Even better: If you’ve never tried Uber before, you can get $30 off your first ride when you pay with your Chase Freedom card and sign up with the code chaseuber.
Ultimate Rewards points earned with Chase Freedom can only be exchanged for cash back, so 5 points per dollar are the same as 5% cash back. However, those who have another card that earns Ultimate Rewards, like the Chase Sapphire Preferred, can transfer their Ultimate Rewards points to the other card. That will open up additional redemption choices that can be more lucrative, such as additional transfer options to airline and hotel loyalty programs. Even if you don’t have one of these cards, you are allowed to combine points from different accounts if your spouse has a Sapphire Preferred card.
The Chase Freedom is offering a sign-up bonus of 15,000 points when you spend $500 in the first 3 months, and the Sapphire Preferred is offering 50,000 points when you spend $4,000 in the first three months.