Maximizing Chase Freedom 5% Cash Back

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Right now Chase Freedom is offering 5x points (or 5% cash back – however you want to look at it!) at restaurants, Bed Bath & Beyond, H&M, and Overstock.com. The Q2 category lasts through June 30, 2015, so you only have a little over a week left to fully maximize and meet the $1,500 maximum amount!

If you are sitting here saying that you there is no way you’ll hit $1,500 in spend in these four categories during the months of April, May, and June, here is a tip – purchase gift cards to use at a future date! Here are some ideas:

  1. Purchase gift cards at your favorite restaurant. For example, if there is an Italian restaurant that you eat at often, purchase gift cards directly at the restaurant and then use them throughout the year. These gift card purchases will then qualify as 5x points. Just make sure you are purchasing them through the restaurant directly and not through a third-party.
  2. Purchase gift cards at Bed Bath & Beyond for other merchants. Bed Bath & Beyond has an entire gift card rack where you can purchase gift cards for stores such as iTunes, Applebees, Panera, Starbucks, Subway, etc. Purchasing these gift cards at a BB&B store will also earn you the 5x points!
  3. Purchase Bed Bath & Beyond, H&M, or Overstock.com gift cards to use at a future time. I am constantly purchasing wedding and baby gifts so I can never have too many Bed Bath & Beyond gift cards that can then also be used at Buy Buy Baby!

Remember, the 5% cash back is on purchases up to $1,500 total for the quarter for all included categories. So the most you can receive is 7,500 Chase Ultimate Reward points (or at a bare minimum $75 cash back). You can also read this prior post to fully understand the confusion some have with points vs. cash back when it comes to the Chase Freedom card.

Also, for a limited time until June 24, 2015, the Chase Freedom has a double points sign up offer! You can read more about this no annual fee offer here.

  • Key Link: Chase Freedom – Earn 20,000 points after you spend $500 on purchases in your first 3 months from account opening. Additionally, earn 2,500 bonus points after you add your first authorized user and make a purchase within the same 3-month period. No annual fee.

If you are new to the Chase Freedom card or the Chase Ultimate Rewards program, read this prior blog series to learn more:

Disclosure: This post contains affiliate links. I will only list the best credit card offers as my goal is for you to travel on a deal!

The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Comments

  1. If I use my Freedom card to purchase Bed Bath & Beyond gift cards, via the UR mall, will I also get 2 UR points/$ in addition to the 5% cash back (5 UR points/$), as well?

    Thanks!

    • @Colin – Typically shopping portals do not give cash back on gift card purchases, but sometimes they slip through the cracks. So might as well try it!

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