When making use of for a brand new bank card, you at all times need to discover the very best welcome supply — the one that provides essentially the most bang in your buck, essentially the most factors, essentially the most money again.
However what if there is a welcome supply so probably profitable that it retains you from signing up for different playing cards for a whole 12 months?
After getting the Chase Freedom Limitless in September of final 12 months, that is the scenario I discover myself in. Let me clarify.
Finest-ever sign-up bonus
Within the fall of 2023, I took benefit of a unbelievable (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 12 months, 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 12 months of the Freedom Limitless. As an alternative of incomes 5% again on journey bought by Chase Final Rewards, I am going to earn a complete of 10% again. As an alternative of three% again on eating and drugstores, I am going to earn 6%. And as an alternative of 1.5% again on all different purchases, I am going to earn a stable 3%.
These elevated earnings charges are a number of the finest you may discover on any cash-back card, maybe ever. And they’re (or had been) obtainable for a full 12 months of card possession.
Not a nasty return on simply my third-ever bank card. However why am I ready to tug the set off on one other?
Why I am 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 intervening time if my final aim 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 laborious to beat 10% money again on journey booked by Chase. And given my private spending habits (trace: I eat out loads), a complete of 6% again on eating can be a unbelievable return.
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Observe that this spending class additionally consists of takeout and eligible supply companies, which is all of the encouragement I want to make use of DoorDash a couple of extra instances 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 reap the benefits of a welcome supply I like there. However when maximizing worth on day-to-day spending, the Freedom Limitless will virtually at all times be my finest wager, a minimum of till that lump sum of matched money again hits my account within the fall.
Fortunately, I already know what my subsequent transfer can be when these first 12 months are up — and it’ll assist me maximize the rewards on my Freedom Limitless even additional, when you can consider it.
My subsequent card
When my first 12 months on the Freedom Limitless are over, I plan to use for an additional widespread and useful providing from Chase: the Chase Sapphire Most well-liked Card.
That is for a couple of causes. First, Chase’s 5/24 rule dictates that Chase will not 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 normal rule, if I am filling out my pockets, I am going to need 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 may permit me to transform my money again on the Freedom Limitless into absolutely 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 can be 1 Final Reward level, price 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 profiting from 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 undoubtedly do not see welcome provides with probably limitless returns on widespread cash-back playing cards every single day.
However it’s a nice instance of the should be versatile within the bank card rewards sport. 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 maximise my return on spending within the meantime.
This supply additionally works for me, specifically, given my spending habits. I do not journey a ton, however I spend loads on consuming out, making the 6% again in that class a boon for my backside line.
So, when you take away something from this text, let or not it’s this: Bank card rewards are all about what’s useful to you. Discover the cardboard, perks and welcome supply that take advantage of sense in your way of life 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 overview of the Chase Freedom Limitless.
Apply right here: Chase Freedom Limitless
