It seems like rumors of fee free Chase gift cards ending August 1, were not true. I was able Chase gift cards yesterday using my Chase Freedom credit card. The disadvantage of Chase gift cards is that you must use a Chase credit card to buy them. What are the best credit cards to buy Chase gift cards?
To maximize on your credit card points, here is my ranking of best credit cards to buy Chase gift cards using a purchase of $1,000 of Chase gift cards as an example:
- Chase Freedom with Chase exclusives – 1,100 Chase Points. If you have a Chase checking account, you will get 10% extra bonus points on the total Chase points earned each year. If you don’t have a Chase checking account, I would recommend signing up for one and earning $200 for free until 8/15/13! Note that these earnings are taxable. I called these Chase points because they don’t turn into Ultimate Rewards until you transfer to Chase Ink Bold or Chase Sapphire Preferred. You can read more about Chase Exclusives here.
- Chase British Airways Credit Card – 1,250 Avios. The Chase BA Credit Card gives 1.25 Avios points per dollar spent. I would actually prefer 1,100 UR points because I value United points more. However, I would say it’s debatable between Chase Freedom and Chase BA.
- Chase Sapphire Preferred – 1,070 Chase Ultimate Rewards. The Chase Sapphire Preferred has a 7% dividend on all points earned for the year.
- All Other Chase Cards – 1,000 points
As you can see from above, the Chase Freedom is the number one choice, minus some exceptions, for these Chase gift cards. It also is the best Chase credit card if you have Chase exclusives for non-category bonus spending. However, I would rather earn 1 SPG point or 2 Barclaycard points for my large non-category bonus spending. For big spenders shooting for Chase United Explorer’s $25K threshold to earn 10,000 extra United miles, that would be another wise choice to buy Chase gift cards towards.
Disclaimer: Personal credit cards such as Chase Freedom have a possibility of triggering a fraud alert when making big purchases. I was able to do 2X $500 Chase Freedom gift cards with no problem, but in the past I’ve had it denied when making purchases over $1,000. It’s not always the case, but maybe something to note.
No fee Chase gift cards are still around for now. The Chase Freedom with Chase exclusives or the Chase British Airways Credit Card are the best credit cards to buy Chase gift cards. If you don’t have a Chase Freedom and Chase checking account to get Chase exclusives, it may be worth considering. There is a $200 checking account sign up bonus and a $100 Chase Freedom sign on bonus. Although not the biggest sign up bonus, Chase Freedom can be another way to earn 5X each quarter on rolling categories. With another 10% bonus points added to the total earned points, it may be another way to boost up your Ultimate Rewards balance.
Note: I do not get any referral bonus for the $200 Chase checking account sign up. I may receive a small referral bonus if you sign up for the Chase Freedom card using the Credit Karma banner and applying under “No annual fee credit cards”.