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When making use of for a brand new bank card, you all the time wish to discover the greatest welcome supply — the one that gives probably the most bang to your buck, probably the most factors, probably the most money again.
However what if there’s a welcome supply so doubtlessly profitable that it retains you from signing up for different playing cards for a complete yr?
After getting the Chase Freedom Limitless in September of final yr, that’s the scenario I discover myself in. Let me clarify.
Finest-ever sign-up bonus
Within the fall of 2023, I took benefit of a improbable (now-expired) welcome supply on one in all Chase’s hottest cash-back playing cards, the Chase Freedom Limitless. On the finish of my first yr, Chase will match all of the money again earned on the cardboard in my first 12 months of card possession.
This implies the cardboard’s earnings charges are basically doubled for the primary yr of the Freedom Limitless. As an alternative of incomes 5% again on journey bought by Chase Final Rewards, I’ll earn a complete of 10% again. As an alternative of three% again on eating and drugstores, I’ll earn 6%. And as an alternative of 1.5% again on all different purchases, I’ll earn a strong 3%.
These elevated earnings charges are a number of the greatest you’ll discover on any cash-back card, maybe ever. And they’re (or have been) accessible for a full yr of card possession.
Not a nasty return on simply my third-ever bank card. However why am I ready to drag the set off on one other?
Why I’m ready
It goes with out saying that the welcome supply I jumped on is fairly profitable. However is it so profitable that I’ve boxed myself out of getting different playing cards in the meanwhile if my final purpose is maximizing worth?
I believe the reply to that query is sure. Loads of different playing cards I may join supply lavish journey perks and the like, however it’s onerous to beat 10% money again on journey booked by Chase. And given my private spending habits (trace: I eat out so much), a complete of 6% again on eating can be a improbable return.
Notice that this spending class additionally contains takeout and eligible supply providers, which is all of the encouragement I would like to make use of DoorDash a couple of extra occasions per week (my Freedom Limitless additionally got here with three months of complimentary DashPass).
Certain, I may go for a premium journey card within the meantime and make the most of a welcome supply I like there. However when maximizing worth on day-to-day spending, the Freedom Limitless will nearly all the time be my greatest wager, at the least till that lump sum of matched money again hits my account within the fall.
Fortunately, I already know what my subsequent transfer shall be when these first 12 months are up — and it’ll assist me maximize the rewards on my Freedom Limitless even additional, for those who can consider it.
My subsequent card
When my first 12 months on the Freedom Limitless are over, I plan to use for one more standard and priceless providing from Chase: the Chase Sapphire Most well-liked Card.
That’s for a couple of causes. First, Chase’s 5/24 rule dictates that Chase gained’t approve any new card candidates who’ve opened 5 or extra private bank cards throughout all banks within the final 24 months. That signifies that, as a basic rule, if I’m filling out my pockets, I’ll wish to prioritize getting Chase playing cards first, as no different card issuers have a rule like this.
Extra importantly, although, the Sapphire Most well-liked is one of some playing cards — together with the Chase Sapphire Reserve and Ink Enterprise Most well-liked — that can permit me to transform my money again on the Freedom Limitless into totally transferable Chase Final Rewards factors.
That signifies that I unlock Chase’s full vary of 14 airline and resort switch companions. And it means each cent earned with the Freedom Limitless shall be 1 Final Reward level, value 2.05 cents per TPG valuations — successfully incomes me an over 20% return on all journey purchases and an over 12% return on eating and at drugstores.
To summarize: By making the most of the matched cash-back supply on the Freedom Limitless after which changing my money again into factors with one other Chase card, I’ll quadruple the usual return on the Freedom Limitless for my first 12 months of card possession.
Backside line
The matched cash-back supply on the Freedom Limitless was a uncommon one. You positively don’t see welcome presents with doubtlessly limitless returns on standard cash-back playing cards day by day.
However it’s a nice instance of the have to be versatile within the bank card rewards recreation. I had initially deliberate on getting the Sapphire Most well-liked a lot earlier in my playing cards journey; now, I’ve kicked that down the street to maximize my return on spending within the meantime.
This supply additionally works for me, specifically, given my spending habits. I don’t journey a ton, however I spend so much on consuming out, making the 6% again in that class a boon for my backside line.
So, for those who take away something from this text, let it’s this: Bank card rewards are all about what’s priceless to you. Discover the cardboard, perks and welcome supply that take advantage of sense to your life-style and spending habits. And when one thing actually profitable comes alongside, be able to take benefit. Then take into consideration which card to pair it with subsequent.
To be taught extra, learn our full assessment of the Chase Freedom Limitless.
Apply right here: Chase Freedom Limitless
