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Chase Freedom Credit Card's New 5% Cash Back

Sunday, May 30, 2010 - 6:37 PM
Chase Freedom Credit Card now offers a rotating 5% cash back. ptMoney has a good review of the card and the rotating categories. The best 3-month period will be from October to December 2010 when the 5% categories will be grocery stores, department stores and movies. This brings back memories of the good old days when many credit cards offered year-around 5% cash back on everyday purchases.
1
Ken TuminKen Tumin5,441 posts since
Nov 29, 2009
Rep Points: 123,663
1. Monday, May 31, 2010 - 1:32 AM
This rotating 5% quarterly rebate bonus appears to be the current "fad" with credit cards that appears to be copied from the Discover Card program.  Citibank also is changing its dividend program to follow this type of rotating rebates.  The thing about these rotating rebates is that you must "accept" them by either calling a phone number or going online.  They are not automatic.  So unlike a change to your credit card terms which are automatic without you "accepting" them, these "teasers" don't follow the same credit card terms.  If you take 5% for three months and 1% for nine months, your net rebate probably comes more closer to 1%.
2
AnonymousAnonymous2,281 posts since
May 9, 2010
Rep Points: 3,776
2. Monday, May 31, 2010 - 11:24 AM
Isn't it something that Chase doesn't have to have your permission to take away the 3% from your gas and electric bill, phone and internet, cable and cell phone, groceries, take out etc. but they need your permission to give you 5% on selected products each quarter. I am through with them. Back 100% to Pentagon Credit Union. 5% off gas, 2% groceries and 1% off everything else all the time and they take it off your bill each month.
3
AllyAlly770 posts since
Jan 16, 2010
Rep Points: 2,236
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