Immediate statement credits are now available for cash rewards…
Cardholders carrying the Chase Freedom Card are being given a rare opportunity when it comes to reward credit cards – easier and immediate reward redemptions. Chase recently announced that cardholders will have the option to use cash back rewards as immediate statement credits, eliminating the need to accumulate $50 in rewards before being paid. The Chase Freedom Card allows members to earn points that are easily converted to cash with each point equivilant to $.01. When as few as 200 points (a reward of $2.00) has been earned, a statement credit can be posted to the cardholders account.
The Chase Freedom Card offers 3% cash back rebates on purchases made in the cardholder’s top three spending categories each month and 1% cash back on all other purchases. The Freedom Card is unique in that it automatically adjusts the 3% rebate to the cardholder’s spending patterns, so that the highest rebate is always associated with the largest purchases. For example, if you spend the most money at department stores, grocery stores and utilities one month, these purchases will earn the 3% rebate. But if your biggest expenses the following month are at gas stations, utilities and drug stores - they will earn the 3% rebate instead. Spend as little as $100 in those categories that offer a 3% rebate and you will quickly be eligible for a statement credit. Chase Freedom cardholders may still choose to accumulate points/cash in the previous manner and be paid by check when $50 has been accumulated.
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