Chase AARP Visa – 5% Cash Back For 6 Months

Via a specific banner ad, the Chase AARP Visa has a introductory promo of 5% cash back on all purchases for the first 6 months (specifically, 6 billing cycles). There appears to be no limit to their cashback awards and their reported credit limits are about the same as other Chase cards, so if you have the ability to charge a lot of money on your card within the next 6 months, this card is for you. Selected fine print:

For the first 6 billing cycles from your enrollment date in the program, you will earn 4 bonus points in addition to your 1 base point (total 5 points) for each $1 of net purchases. You do not earn points on balance transfers, cash advances, cash-like charges such as travelers checks, foreign currency, and money orders, any checks that are used to access your account, overdraft advances, interest, unauthorized or fraudulent charges, or fees of any kind, including fees for products that protect or insure the balances of your account. There is no maximum number of points that you can accumulate in the program.

Doing the math, if you can charge $2,000 total, you’ll get $100 back. Up that to $20,000, and you’ll get $1,000 back. The usual ideas include charging any medical bills, homeowners/car/life insurance, travel expenses, or large home improvement purchases. Some people even prepay their utility bills. If you haven’t already, you could also pay any income taxes owed on the card, and you’d still come out slightly ahead after their usual ~2.5% fees.

Catches? Well, you’ll have to be a member of AARP first. That costs $16 a year and is actually open to those under 50, and although you won’t get full benefits, reportedly it will let you get this card. Otherwise, just avoid doing any funny business that will close your card before you cash out your rewards.

Comments

  1. Oh man… I have a HUGE tax bill coming up in 10 days. I wonder what the odds are I could get a credit card mailed to me in that time period. Just signed up tonight.

  2. When you say “just avoid doing any funny business that will close your card before you cash out your rewards.” Do you think they would shut down your card for ordering a large amount of cash-like charges that my not be considered as such in their system?

    I am not familiar with shutting down your card for making specific purchases. Is this something that happens?

  3. Maury,

    Did you have to pay $16 to become a member of AARP first or were you able to get it waived?

  4. Arghhh… I paid $16 and am now a member of AARP, but got a nice letter from Chase letting me know I’ve had “Too many requests for credit or opened accounts with us.” So my AARP card was not approved.

    I have few cards with them (Sapphire, Freedom, Hyatt) and I have a home loan with them. Everything gets paid off monthly, so maybe they are on to the fact I pretty much just sign up to get the bonus.

    Going to cancel the Sapphire card immediately… It’s a bummer as both the AARP deal and British Airways deal recently posted about are Chase deals…

    They also approved me for a huge amount of credit on my recent Hyatt card application so that may have something to do with it.

  5. @Maury – You have a few options:

    1) Call the Chase credit reconsideration line at 1-888-245-0625. It sounds like you just have too many Chase cards right now. Don’t cancel before calling. Call them, ask them exactly why you were denied, and offer to cancel and/or lower your credit lines in order to get the new card you want. You should be offered some way to get approved.

    2) If you don’t want the card anymore, call AARP and ask for the $16 refunded.

  6. Not too worried about the $16, but the reconsideration line is definitely worth a call. (I was a little quick on the draw and actually canceled a Chase Sapphire card prior to reading your post.) I figure I’ll give them a call and see what happens. Nice find!

  7. I also got the rejection letter based on Too many requests or Open credit cards. However, thanks to Jonathan I did call the reconsideration line. The canceled my recent Amazon card that I opened and approved the AARP card (Well after sending me to the Verification line:).
    M

  8. Yup, the reconsideration line worked for me too. Worked really well in fact, I had them lower the limit for another card I had and bump up the AARP card. I’ll be using it for everything.

  9. Was anyone with an AARP associate membership (for people under 50) able to get this card?

  10. DollarBill says:

    My 6 months is about to run out so I was going to get one of these cards for my wife for the next six months. However, it looks like the 5% for 6 month promotion is over :( This card was a GREAT deal.

  11. The card is still available. Call them up is the recommendation.

    Good luck.

  12. DollarBill says:

    Thanks Jonathan! The offer IS still available on the phone…800-592-6475.

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