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I’m not sure how this promotion slipped my mind, but I actually didn’t realize it existed until I sent a screenshot of a funny Uber ride to a friend, and he noted that my credit card on file wasn’t my Chase Freedom.
For those of you not aware, the Chase Freedom offers 5% cash back on up to $1,500 of spend in rotating quarterly categories.
Earning 5x points on Uber rides
This quarter the Chase Freedom is offering 5% cash back on up to $1,500 in combined spend at gas stations and on local commuter transportation, including Uber and taxis. This promotion is valid between January 1 and March 31, 2016, and you must register by March 14, 2016, to be eligible.
If you have the Chase Freedom card, you’re required to register every quarter by entering your last name, last four digits of your card, and zip code. Chase does this to keep members engaged, though in this case clearly it slipped my mind, because I had forgotten the first quarter bonus included Uber (I almost never spend money at gas stations and on taxis, so that’s the most useful one to me).
How to make Chase Freedom points even more valuable
Just to recap, you earn points on the Chase Freedom, and each point can be redeemed for one cent cash back.
However, if you have this card in addition to one of the cards that accrue “premium” Ultimate Rewards points, you can transfer these 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. Ultimate Rewards points are worth more than a cent each, so that’s awesome.
How to maximize your Uber spend
Keep in mind there are plenty of other cards you can use to maximize your spend on Uber. For example, through April 30, 2016, you can earn 20% off rides paid with a Capital One Quicksilver Card, like the Capital One Quicksilver Cash Rewards Credit Card or Capital One QuicksilverOne Cash Rewards Credit Card.
Keep in mind on top of that you can earn bonus Starpoints for Uber rides, thanks to the partnership between the two brands.
I’m sure I’m not the only one who forgot to activate the first quarter 5x points category for the Chase Freedom. While the quarter is more than half over, there’s still time to register and maximize your points earned through Uber rides.
I value Ultimate Rewards points at ~1.8 cents each, so in conjunction with a card accruing Ultimate Rewards points, I value the return on Uber rides paid with the Chase Freedom at ~9%. And that doesn’t factor in the bonus Starpoints you earn.
Have you activated the 5x points category for the first quarter with the Chase Freedom?