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Posted by on Nov 21, 2013 in Chase Freedom, Credit Cards, Discover It | 0 comments

Chase Freedom Signup Bonus Increased to $200 or 20,000 Ultimate Rewards Points

It seems like competition is heating up in the no annual fee credit card space, because the Chase Freedom credit card has increased its signup bonus to $200 or 20,000 Ultimate Rewards points. This signup bonus for the Chase Freedom credit card is the largest in years as the card has been offering just $100 for the longest time now. The increased signup bonus is a limited time promotion and followed shortly after Discover increased the signup bonus on the Discover It credit card to $150.

 

Chase Freedom Credit Card

To apply for the credit cards discussed and other credit cards, please see my credit card bonuses page

To apply for the credit cards discussed in this post and other credit cards, please see my credit card bonuses page

 

  • $200 or 20,000 Ultimate Rewards points signup bonus after spending $500 within 3 months
  • Access to Ultimate Rewards shopping portal and great cash back rates when shopping
  • 5% cash back on rotating categories every quarter (click to see the 2013 categories)
  • 1% cash back on everything else
  • No annual fee

 

The Main Point

Like the Discover It credit card, the Chase Freedom credit card has no annual fee, provides access to a fantastic shopping portal for cash back, and offers 5% cash back on rotating categories every quarter. The current quarter’s bonus category is Amazon.com¬†plus select department stores so perfect for the holiday season.

The Discover It credit card is great in itself, but the improved signup bonus on the Chase Freedom card is superior. After spending $500 in 3 months, you will get 20,000 Ultimate Rewards points, which you can redeem for $200 cash. If you have a premier Chase card, such as any of the Chase Ink business credit cards, you can even transfer your Ultimate Rewards points to airline miles and hotel points. That’s how we were able to honeymoon in a Deluxe Ocean View Room at the Grand Hyatt Kauai for free!

As I mentioned in my guide to opening credit cards for rewards rule #5, credit cards with no annual fees are great to have, because it builds your relationship with the bank and improves your credit score. You also never have to worry about closing the credit card. Last but not least, the minimum spend requirement on the Chase Freedom and Discover It credit card are pretty low at $500 and $750 respectively. If you can mange it, I would open both cards and spend $1,250 to earn $350 for free then keep those two cards forever.

 

Discover It credit card

Discover It credit card

 

[Update 12/2/13] The Discover It credit card no longer offers a $150 signup bonus. The best signup bonus now is probably through Amazon’s link where you will get a $75 Amazon gift card.

 

Disclaimer: I may receive referral credit for some of the links above, which I appreciate

 

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