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Chase has brought back a similar promotion to what they offered last November, which has the potential to be lucrative. Specifically, those with the Chase Freedom can earn up to 10x points for purchases at Best Buy through February 4, 2018. This promotion is intended to promote use of their Chase Pay mobile payment option, so you have to use Chase Pay to earn the bonus points.
With this promotion you can earn 10x points for up to $400 of in-store spend. There’s no need to register, and the points should automatically post to your statement within a week of the purchase. Just make sure you’re set-up with Chase Pay and make your purchase in-store by scanning your QR code at the register.
You’ll earn a total of up to 10x points per dollar spent. As many of you may be aware, this quarter the Chase Freedom is offering up to 5x points on the first $1,500 of spend at gas stations, and on internet, cable, and phone services, as well as mobile wallet services.
The 10x points includes the 5x points you earn this quarter, meaning that you’re really earning an additional 5x points per dollar spent on top of that. In other words, if you already maxed out your $1,500 quarterly limit you’d earn a total of 6x points at Best Buy.
Points earned on the Chase Freedom can ordinarily be redeemed for one cent cashback. However, if you have this card in addition to one of the cards that accrues Ultimate Rewards points, you can transfer these points to Ultimate Rewards. Cards that accrue Ultimate Rewards Cards include the:
I value Ultimate Rewards points at 1.7 cents each, so to me 10x Ultimate Rewards points per dollar spent would the equivalent of a 17% return, which I’d consider to be excellent. If you’re thinking of making a purchase at Best Buy, this could represent a great deal.
(Tip of the hat to Doctor of Credit)