Chase Rewards Plus Credit Card Review
Author: georgee
Posted: Tue Apr 04, 2006 9:47 am
Post subject: Chase Cash Plus or Chase Rewards Plus?
I have AMEX Cashback, Chase Cash Plus Visa, and Citi Dividend Mastercard.
I spend about $40,000 a year on credit cards. I always max out the Citi Dividend in about six months, and then go to the Cash Plus for the last six months (gas, groceries, and drugstores only on these cards).
I was thinking of converting Cash Plus to Rewards Plus because you can earn up to $750 a year in rebates ($600 in cash and $150 in certificates).
I don't know if I can max out Citi Dividend and Rewards plus in a year, because I also use AMEX for the 1.5% on "non-everyday spend."
Should I stick with Cash plus and my other cards, or should I convert the Cash Plus to Rewards Plus, just because it has a higher annual rebate allowed, even if I don't meet it?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: stevejk
Posted: Tue Apr 04, 2006 10:16 am
Post subject:
You can't simply convert the Chase Cash Plus to the Rewards Plus card. I tried that myself. I had to resort to applying for a new card.
The question about the AMEX is is it 1.5% flat or is it tiered, i.e., have to spend several thousand dollars to work you way up to the 1.5% level? If it is tiered, the overall rate may not be 1.5%. If it is closer to 1%, then the Rewards Plus may be just as good.
Even still, having the one Rewards Plus card would be better than having both the Cash Plus and Citi Dividend and getting the timing correct to switch between the two.
Author: georgee
Posted: Tue Apr 04, 2006 10:25 am
Post subject:
You have to get to $6500 on AMEX to get 1.5%. Otherwise it is 1/2 %.
I already have the Citibank card. If I get the Rewards Plus from Chase, I would never get to the Citibank Dividend card.
Author: quiznut1
Posted: Tue Apr 04, 2006 10:31 am
Post subject: Re: Chase Cash Plus or Chase Rewards Plus?
georgee wrote:
I have AMEX Cashback, Chase Cash Plus Visa, and Citi Dividend Mastercard.
I spend about $40,000 a year on credit cards. I always max out the Citi Dividend in about six months, and then go to the Cash Plus for the last six months (gas, groceries, and drugstores only on these cards).
I was thinking of converting Cash Plus to Rewards Plus because you can earn up to $750 a year in rebates ($600 in cash and $150 in certificates).
I don't know if I can max out Citi Dividend and Rewards plus in a year, because I also use AMEX for the 1.5% on "non-everyday spend."
Should I stick with Cash plus and my other cards, or should I convert the Cash Plus to Rewards Plus, just because it has a higher annual rebate allowed, even if I don't meet it?
I would convert your Chase Cash Plus to Rewards Plus because of the higher limit. It would give you a rebate limit of $900 in cash when all is said and done ($300 on Citi and $600 on Chase). Keep in mind when I called to try to convert programs, that you will lose any points you accumulated with the Chase Cash Plus program, so I would cash out at exactly 5,000 points for a $50 check from Chase, leaving a 0 point balance, then convert to the new program. Also with the Rewards Plus program, to get the full value of points, you will need to redeem 10,000 points for a $100 check. I think it's 3,500 points for $25, and 6,000 for $50. However, 10,000 points = $100 check with Chase Rewards Plus program is the equivalent of 5,000 points = $50 check with Chase Cash Plus program, so it shouldn't be a problem for you.
Oh, when you call to convert to the new program, ask them if you can get the 5,000 point bonus under offer code ZFF, which was listed on March 9 in the Fat Wallet forums.
Also, for your "non-everyday" spending, why don't you check out the Bank of America Power Rewards Visa?
1 point for every dollar spent
Accumulate 50,000 points ($50,000) and redeem for a $1,000 statement credit (the equivalent of 2% cash back on everything)
No limit to amount of points you can earn in a year
Points don't expire for 5 years (which means you would have to spend at least $10,000 in a year for "non-everyday" spending, which shouldn't be a problem for you).
I think this is the best strategy for you to maximize your annual cash back rebates considering your $40,000 annual spending on your credit cards
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Tue Apr 04, 2006 9:47 am
Post subject: Chase Cash Plus or Chase Rewards Plus?
I have AMEX Cashback, Chase Cash Plus Visa, and Citi Dividend Mastercard.
I spend about $40,000 a year on credit cards. I always max out the Citi Dividend in about six months, and then go to the Cash Plus for the last six months (gas, groceries, and drugstores only on these cards).
I was thinking of converting Cash Plus to Rewards Plus because you can earn up to $750 a year in rebates ($600 in cash and $150 in certificates).
I don't know if I can max out Citi Dividend and Rewards plus in a year, because I also use AMEX for the 1.5% on "non-everyday spend."
Should I stick with Cash plus and my other cards, or should I convert the Cash Plus to Rewards Plus, just because it has a higher annual rebate allowed, even if I don't meet it?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: stevejk
Posted: Tue Apr 04, 2006 10:16 am
Post subject:
You can't simply convert the Chase Cash Plus to the Rewards Plus card. I tried that myself. I had to resort to applying for a new card.
The question about the AMEX is is it 1.5% flat or is it tiered, i.e., have to spend several thousand dollars to work you way up to the 1.5% level? If it is tiered, the overall rate may not be 1.5%. If it is closer to 1%, then the Rewards Plus may be just as good.
Even still, having the one Rewards Plus card would be better than having both the Cash Plus and Citi Dividend and getting the timing correct to switch between the two.
Author: georgee
Posted: Tue Apr 04, 2006 10:25 am
Post subject:
You have to get to $6500 on AMEX to get 1.5%. Otherwise it is 1/2 %.
I already have the Citibank card. If I get the Rewards Plus from Chase, I would never get to the Citibank Dividend card.
Author: quiznut1
Posted: Tue Apr 04, 2006 10:31 am
Post subject: Re: Chase Cash Plus or Chase Rewards Plus?
georgee wrote:
I have AMEX Cashback, Chase Cash Plus Visa, and Citi Dividend Mastercard.
I spend about $40,000 a year on credit cards. I always max out the Citi Dividend in about six months, and then go to the Cash Plus for the last six months (gas, groceries, and drugstores only on these cards).
I was thinking of converting Cash Plus to Rewards Plus because you can earn up to $750 a year in rebates ($600 in cash and $150 in certificates).
I don't know if I can max out Citi Dividend and Rewards plus in a year, because I also use AMEX for the 1.5% on "non-everyday spend."
Should I stick with Cash plus and my other cards, or should I convert the Cash Plus to Rewards Plus, just because it has a higher annual rebate allowed, even if I don't meet it?
I would convert your Chase Cash Plus to Rewards Plus because of the higher limit. It would give you a rebate limit of $900 in cash when all is said and done ($300 on Citi and $600 on Chase). Keep in mind when I called to try to convert programs, that you will lose any points you accumulated with the Chase Cash Plus program, so I would cash out at exactly 5,000 points for a $50 check from Chase, leaving a 0 point balance, then convert to the new program. Also with the Rewards Plus program, to get the full value of points, you will need to redeem 10,000 points for a $100 check. I think it's 3,500 points for $25, and 6,000 for $50. However, 10,000 points = $100 check with Chase Rewards Plus program is the equivalent of 5,000 points = $50 check with Chase Cash Plus program, so it shouldn't be a problem for you.
Oh, when you call to convert to the new program, ask them if you can get the 5,000 point bonus under offer code ZFF, which was listed on March 9 in the Fat Wallet forums.
Also, for your "non-everyday" spending, why don't you check out the Bank of America Power Rewards Visa?
1 point for every dollar spent
Accumulate 50,000 points ($50,000) and redeem for a $1,000 statement credit (the equivalent of 2% cash back on everything)
No limit to amount of points you can earn in a year
Points don't expire for 5 years (which means you would have to spend at least $10,000 in a year for "non-everyday" spending, which shouldn't be a problem for you).
I think this is the best strategy for you to maximize your annual cash back rebates considering your $40,000 annual spending on your credit cards
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 12:36 AM
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