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As I wrote about a bit over a week ago, the Chase Freedom is offering an awesome bonus this quarter.
The card ordinarily offers 5x points per dollar spent in rotating quarterly categories. The fourth quarter bonus was for 5x points at select online retailers, including amazon.com.
The total which can be bonused is ordinarily capped at $1,500 per quarter, meaning you can earn up to 7,500 points per quarter by maximizing the bonuses.
However, Chase is doing something really special this quarter, and is offering 10x points between November 23 and December 31, 2015. Best of all, they reset the quarterly limit on November 23, meaning you could have earned 5x points for up to $1,500 of spend between October 1 and November 22, and then can earn 10x points for up to $1,500 of spend between November 23 and December 31, 2015.
Given that it’s the season for holiday shopping, I suspect many won’t have any issues maximizing the quarterly bonus with purchases at Amazon. While I use Amazon a fair amount, I doubt I’ll be spending $1,500 through them in less than six weeks, however. My first thought was to buy Amazon gift cards to make up the difference, as I’ll definitely be able to use them in the future.
What I hadn’t realized, or perhaps just hadn’t thought about, is that Amazon sells tons of other gift cards as well. Everything from Hyatt gift cards to Southwest Airlines gift cards to Starbucks gift cards; there are tons of options.
If I can’t quite make it to the limit for the bonus I’ll end up picking up Hyatt gift cards for the residual. In conjunction with the Chase Sapphire Preferred, Chase Freedom points can be converted into Ultimate Rewards points. I value those at ~1.7 cents each, so to me that’s like a ~17% return on Hyatt gift cards. Not half bad!
How do you plan on maximizing the 10x points being offered at Amazon with the Chase Freedom?