Consider Buying Amazon Gift Cards Today

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One of the most compelling no annual fee credit cards is the Chase Freedom®, which offers 5% cash back on up to $1,500 of spend in rotating quarterly categories. As I wrote about in September, the fourth quarter bonus categories include Amazon, Zappos, and select department stores.

Anyway, today is the last day of the quarter, so if you haven’t yet maxed out your fourth quarter bonus category, I’d seriously consider purchasing some Amazon gift cards with your Chase Freedom® today.

I think Amazon gift cards are as close to “good as cash” as gift cards get, given that Amazon sells just about everything.

Keep in mind that while the Chase Freedom® is marketed as offering 1% cash back, the points can be much more valuable than that.

If you have this card in addition to one of the cards that accrue “premium” Ultimate Rewards points, you can transfer Chase Freedom points to Ultimate Rewards. Cards that accrue “premium” Ultimate Rewards Cards include the:

So 5% cash back converts into 5x Ultimate Rewards points per dollar with one of the above cards.

Bottom line

This year I haven’t been nearly as organized as I’d like to be in making sure I maximize bonuses, be they credit card bonuses, hotel and airline bonuses, or even elite status thresholds. I haven’t yet maximized my Chase Freedom fourth quarter category bonuses, so I just stocked up on some Amazon gift cards.

Did you max out your Chase Freedom fourth quarter 5% bonus categories?

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Comments

  1. not a great advice. what should be doing today is buying amazon gift cards at staples with your ink, as today is the last day you get 6% off if you can buy at least $200 worth.

    moreover, if you follow slickdeals, you can often buy amazon gift cards at 20% off, there was a deal for that just this past week… 5% from freedom is really not that great. only advantage is that it is effortless.

  2. If you have the Ink cards, you can always gt 5% by buying Amazon gift cards at Office supply stores.
    The drawback of having a large gift card balance in your Amazon account is you will mentally already be prepared to spend it regardless whether you need the item “right now” or this is the best deal around (you may tend to ignore other discount sites/stores subconsciously)…Human nature..

  3. Great advice from Lantean and ff_lover.

    Why are all the bloggers pumping this 5% expiring quarterly bonus with Amazon when (1) there are other similar deals year round and (2) Amazon GCs aren’t just like cash. Only cash (and what’s in your checking and savings accounts) is just like cash.

    As much as I like Amazon for convenience and free shipping (with Prime), I would say that Amazon GCs can result in reckless spending, and foregone benefits such as buyer protection, extended warranty, and price guarantee on big-ticket items available with other credit cards.

    I would add that shopping portals (with the exception of one or two) do not offer any miles for shopping through Amazon, whereas others can offer more than 5 miles per $ spent. At that point, you’re better off using the shopping portal.

    So, DO NOT waste your time and energy trying to maximize this quarterly bonus.

  4. Good comment John. I have noticed, specially at EOY, people go crazy in spending and then they have “buyer’s remorse” around New Year. I personally got caught up in this Amazon gift card and bought items
    that were not immediately needed or as yous aid didn’t go through other shopping portals where the price were comparable but with better benefits.
    So, I don’t buy/stock up on any gift cards anymore (unless I can move them to BB)…bec they are NOT cash. You will be tied to their products and T/C.

  5. just wondering if you bought your amazon GCs with the Freedom on 12/31? I got some but saw that they didn’t post until 1/2! argh!!!

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