Enzo Fintech App: 2% Cash Back on Rent (Up to $500 Annually), Equity For Waitlist Members

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

Enzo is another fintech app meant to manage all your money… Spending, savings, long-term investing. Via DoC, the catchy feature is 2% cash back on rent (subject to caps). They are also dangling the possibility of owning shares in the actual company. They are not live yet, but let’s take a closer look.

Cashback on spending. From their disclosures (emphasis mine):

Earn 10% cashback on Uber, 5% on DoorDash, and 2% on rent, limited to $65 per calendar month and $500 per calendar year. Earn unlimited 1.25% cashback on everything else. Once the monthly and/or annual limits have been reached, you will continue to earn 1.25% on everything (excluding rent). Cashback on rent is limited to one transaction per month. Enzo reserves the right to request additional documentation providing proof that the payments are bona fide rent payments if it suspects unusual activity. Terms are subject to change. Cashback will be credited to your account the following month for qualifying transactions made the previous month.

If you only put rent on your debit Visa card, then you would max out the $65 monthly limit at a monthly rent of $3,350. However, you would max out the annual $500 cash back limit at a monthly rent of $2,083. At the US average rent of $1,100 a month for a 1 bedroom apartment, you would earn $264 a year in cash back at the 2% rate,

Checking account APY on savings. 0.50% APY as of 1/1/2022. This is about average for most online savings accounts. Banking services provided by Blue Ridge Bank N.A.; Member FDIC.

Investing. Very few details on this so far, beyond “$0 fee trading” which nearly every other broker already offers.

Equity in the company? Here’s what they say:

Enzo is committed to helping you create wealth over time. That’s why we are granting equity to our early members and reserving a piece of the company to permanently be owned by you.

From the disclosures:

All Enzo Waitlist members will be eligible to receive Enzo equity, and can earn additional equity by referring friends.

And curiously:

Equity is subject to terms and conditions and does not require opening an Enzo account. Terms for receiving equity available upon request.

I have sent an official email to hello@joinenzo.com to “request” this information, and will report back if they reply. Please let me know if you do the same.

Right now, Enzo has no app and no actual customers, so they are an imaginary fish in a big pond of fintechs. I still signed up on the waitlist with my e-mail since it is free with no commitment (that is my link). (You never know. I am old enough to have gotten free TravelZoo shares that actually materialized in the late 1990s.) In November 2021, this article announced a seed round with a modest $3 million in funding. Still, if you pay a decent amount in rent, it may be worth keeping an eye on this one.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

HMBradley Bank Review: Up to 3% APY After Saving 20% Of Your Deposits (Updated 2022)

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

Update 1/19/22: HMBradley announced a few additional changes (on the positive side). They are offering a bit more grace period for new credit cardholders, and ongoing cardholders now only need to maintain $1,500 in direct deposits per month (down from $2,500) along with $100 of monthly purchases on the credit card to get the 3X interest boost. Applies immediately as of January 2022.

Update 12/15/2021: On December 15th, 2021, HMBradley announced upcoming changes to their interest rate that will become effective February 1st, 2022, along with changes to their credit card boosts that are effective January 1st, 2022. Here are the old and new “no credit card” interest rates on balances up to $100,000:

Savings Tier APYs effective now through 1/31/2022:

  • Tier 1: 3.00% APY
  • Tier 2: 2.00% APY
  • Tier 3: 1.00% APY
  • Tier 4: 0.50% APY

Savings Tier APYs effective 2/1/2022:

  • Tier 1: 1.00% APY
  • Tier 2: 0.50% APY
  • Tier 3: 0.25% APY
  • Tier 4: 0.125% APY

“3X with credit card” rates. As of 1/1/2022, if you spend at least $100 each monthly cycle on the HMBradley credit card AND have a least $2,500 in monthly direct deposits for each month of the previous quarter, then you can receive the following higher interest rates (3x):

(The Savings Tier Boost Promotion terms say this is effective starting 1/1/2022, but the e-mail sent out says it starts 2/1/2022 for existing credit card holders.)

For new customers, you will need to become an HMBradley credit cardholder first before being able to open the HMBradley interest-bearing checking account.

In realistic terms, an interest rate drop was coming sooner or later. 3% APY was amazing, but 1% APY is still double what most “high-yield” savings accounts offer. As someone who already uses their credit card, my interest rate is only going down from 3.5% APY to 3% APY. Read my tips on getting approved either by increasing your direct deposit or self-reporting adequate income.

Spending $100 on the card per month is not bad, it’s probably the $2,500 monthly direct deposit that is slightly more problematic. Savings 20% of $2,500 means leaving $500 in there every month. However, since HMB credit card spend doesn’t count against the 20% savings requirements, you can simply put $500 on the credit card. I simply use my card for “online shopping” each money and earn 3% back on it as my top category, so there is no loss there. If HMB will pay me 3% APY on $100,000 (roughly $250 a month in interest), I will happily pay a $5/month annual fee for the credit card.

Quick take. As of 2/1/2022, HMBradly’s interest rates will drop significantly unless you utilize their HMBradley credit card. However, if you do have their credit card and meet the requirements, you can still earn up to 3% APY and the drop from before is not nearly as bad.

Original post (will be outdated as of 1/1/2022):

HMBradley is a fintech bank startup that differs by offering customers a variable interest rate based on their savings rate. Deposits are FDIC-insured through Hatch Bank. As of July 2021, the top rate is 3% APY, which is over 2% higher than the popular online savings accounts like Ally Bank, Capital One, or Marcus. Is there a catch? What’s the fine print? Here’s my review of HMBradley after opening an account and reading their FAQ, fee schedule, and other fine print. Thanks to reader Guarav for the tip.

Rate tiers. Interest is earned on balances up to $100,000 and is set each calendar quarter. The interest rate updates for all customers at the beginning of each calendar quarter: January 1st, April 1st, July 1st, and October 1st. In order to qualify for a “Savings Tier”, you must receive a direct deposit at least once every month and save at least 5% of your quarterly deposits.

New customers start in Tier 3 and stay there as long as they maintain at least one direct deposit per month. For example, if you open in October, the next reset date would be January 1st and your interest earned for the next 3 months is based on your activity in the previous 3 months. Here are the current rates for each tier:

Requires a “real” direct deposit every month. You must receive some sort of direct deposit each month, as defined below:

For our accounts, we define direct deposits as those deposits made by the customer’s employer or a federal or state government agency or retirement benefits administrator. These generally include payments made by corporations and other organizations. We do not consider deposits to an account that are made by an individual using online banking or other payment provider such as PayPal or Venmo as direct deposits.

They appear to be relatively strict on receiving a “real” direct deposit and not a person-to-person transfer. Based on my experience, they have a system for detecting incoming deposits and marking them automatically as “real”, but it is not 100% accurate and your direct deposit may have to be reviewed manually. Their online account interface clearly tells you if you have made the required direct deposit for the current month (see screenshot below). If not, you should contact them in order for them to manually check and mark your transfer as a direct deposit. I have a legit employer direct deposit and had to ask them to manually review it. After that, they usually marked it as a direct deposit within 24-48 hours after arrive. (Due to the delay, I believe they still check manually.) Having it marked properly is required to get the top rate.

Savings rate is based on ALL deposits and withdrawals. For the calculation of “savings rate”, all deposits are considered including incoming transfers from another personal bank account. At the same time, your “spending” will also include any transfer out of your account, even if it’s just to another bank account that you own.

Basically, money has to keep coming into HMBradley and not go back out, if you maintain a positive savings rate. That’s rather clever. They just have to maintain the high interest rates to keep reinforcing this cycle.

NOW account? No paper checks. It should be noted that HM Bradley’s account is actually a lesser-known form called a “negotiable order of withdrawal (NOW) account”, which per the CFPB which gives the bank the right to require at least seven days written notice of a withdrawal. Supposedly, this is rarely done in practice. Like a checking account, there are no limits on the number of withdrawals each month. However, unlike a checking account… there are no checks! I suspect that not having to deal with paper checks saves them a good chunk of money. I’m personally fine with that as long that equates to a higher interest rate.

The Bank offers Negotiable Order of Withdrawal transaction checking accounts, which allows you to make deposits by check, ACH payment, transfer from another account at the Bank, or wire transfer. NOW accounts only are available to consumers for personal, family, or household purposes. The Bank does not offer business accounts and you agree not to use your HMBradley Account for business purposes. The Bank may request 7 days’ advance notice of a withdrawal or transfer of funds from the NOW account.

Credit card adds 0.50% APY. They recently added a credit card, but it is invite-only and based on their estimate of your income (which is in turn based on the size of your deposits, although you can attempt to self-report). See my HM Bradley credit card review. If you do get it, you can earn another additional 0.50% APY, for a total of up to 3.5% APY.

Additional features. No minimum balance, no monthly fees. $100 minimum to open. Interest is compounded daily and credited monthly. No paper checks. There is fee-free ATM access via your Debit Mastercard at over 55,000 ATMs in the STAR and MoneyPass networks (or at any store that allows for cash back on debit purchases). There is no online billpay (“coming soon”) and there is no ability to deposit checks (remote deposit also “coming soon”). They may close your account without notice if you maintain a zero balance.

My thoughts. In the current rate environment, the ability to earn 3% APY on up to $100,000 is exceptional. I don’t know of any “rewards checking” account has a balance limit of $100,000. This can be a good opportunity if you understand the rules and the top interest rate stays higher than the competition.

The idea of incentivized higher savings rates is good, but it may be a tough hurdle for those living paycheck-to-paycheck. On the other hand, as long as you can switch over a partial direct deposit, adding some consistent amount each month with minimal withdrawals would also work.

Bottom line. HMBradley is a digital bank startup that differs by offering customers a high rate (currently up to 3% APY) based on the percentage of their deposits that they save. They require moving over a monthly direct deposit, and the rules are a bit more complex than a simple online savings account, but if the rates hold steady it can be a very competitive offer for motivated savers.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Marcus Bank: $100 Bonus on $10,000 Deposit (New and Existing Customers)

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

New deposit bonus back again for 2022. Marcus by Goldman Sachs is offering a $100 bonus if you deposit $10,000+ in new funds into their online savings account within 10 days of enrollment at this special offer page. Valid for both new and existing customers. You must enroll by 2/16/2022 and maintain the new $10,000+ deposit for 90 days. They have done a similar promotion in past years (and it’s nice that you can keep doing it). Thanks to reader Bill P who sent this in.

Offer available to new and existing customers. Each customer is limited to one cash bonus offer. This Offer can only be applied once to an account. If an account has multiple owners, the account is limited to being enrolled for this Offer under one account owner and receiving one cash bonus. Remaining account owners may be eligible to use another eligible account to enroll in this offer. This Offer may be combined with other promotional offers available to Marcus Online Savings Account customers.

New customer referral offer of 1% APY for first 3 months. If you don’t have a Marcus account yet, if you open with a Marcus referral link from an existing customer, you will get an extra 0.50% on all your balances for 3 months. Right now, that means 1% APY for the first 3 months. I believe that the referrer gets the same. That’s my referral link, thanks if you use it! I’d open and get the referral offer first, and then later enroll in this $100 offer as an existing customer.

Bonus math. This is a 1% bonus on $10,000 if you keep it there for 90 days, which makes it the equivalent of ~4% APY annualized. The bonus is on top of the standard interest rate, currently 0.50% APY as of 1/19/2022. (0.60% APY for AARP members.) This total of roughly 4.5% APY over 90 days makes it a great short-term rate at that balance size when compared to my January 2022 update of best interest rates. I have gotten the bonus in the past with no issues.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Free At-Home COVID-19 Tests via US Postal Service

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

You can now start ordering your free at-home COVID tests at the US Postal Service website. Currently, get four individual rapid antigen COVID-19 tests per residential address. Shipping is free.

Limit of one order per residential address
One order includes 4 individual rapid antigen COVID-19 tests
Orders will ship free starting in late January

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Current Banking App Review: $50+ Bonus, 4.00% APY on $2k/$6k

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

Current is part of the new wave of fintech apps that partner with a traditional bank. In this case, banking services are provided by Choice Financial Group, member FDIC. Current reminds me a lot of the Chime app, with its quick sign-up process, modern smartphone app, and user-friendly feature set targeting the young and underbanked (average customer age for both is 27 years old).

Basic Tier features (no monthly fee):

  • No minimum balance. No minimum opening deposit.
  • No credit check. No Chexsystems check.
  • No overdraft fees.
  • Fee-free ATM withdrawals within the 40,000+ Allpoint ATM network.

Premium Tier features ($4.99/month). You get the above, plus:

  • Access to paycheck up to 2 days early.
  • Gas station authorization holds immediately released.
  • On top of no overdraft fees, also get up to $100 in fee-free overdraft coverage.
  • 3 Savings Pods (earn 4% APY on up to $6,000 total).

4% APY details. Current just announced a new feature: 4% APY on their “Savings Pods”, which is definitely a differentiator if they keep it up. A “savings pod” is like a sub-account where you can set aside money for a specific goal like “rainy day”, “travel”, etc. Interest is paid out daily. There are no restrictions on transferring money in and out of a “savings pod”.

Basic members can create 1 savings pod, earning interest on up to $2,000. Premium members can create 3 savings pods with up to $2,000 earning interest per pod, for a total of up to $6,000 earning 4% APY. Note that you will have to accept some new terms and conditions before earning interest on a savings pod. Make sure you see a green banner that says “Earning Interest”.

If you held $2,000 at 4% APY for an entire year, that would be $80 of interest annually ($6.67/month). If you upgraded to Premium, that would cost an additional $60 a year in fees, but if you maxed out the extra $4,000 available at 4% APY, that would be $160 of additional (taxable) interest.

Note that the 4% APY does not come with a spending requirement or a direct deposit requirement. Current says that this is not meant as a temporary rate (via Techcrunch):

“We’re not approaching this as a promotional rate,” explains Current VP of Product, Josh Stephens. “We’re approaching it as something that’s available for all for the foreseeable future…I think, certainly, you see promotional rates from other folks out there with a lot of bells and whistles attached to it. But this is something that’s available for anyone, with no balance minimum, no fees,” he says.

(Mark the date, 1/13/22 and let’s see how long it lasts.)

New user bonuses. There are a few different sign-up bonuses available.

  • If you sign up using the promo code WELCOME50 and make a single direct deposit of $200+ within the first 45 days after opening, they will credit you $50. You will also need to be on the Premium tier at the time of entering the code and to get the bonus. You can downgrade later, after receiving the bonus. The terms says that this bonus can’t be combined with other enrollment bonuses. CURRENT50 may also work.
  • If you join Swagbucks (or are already a member), search for “Current” in the top search box. You will see an offer for 12,000 Swagbucks (10,000 Swagbucks points = $100 Amazon gift card) if you complete similar requirements of opening a Premium Banking Account and completing a payroll direct deposit of $200 or more.
  • If you join MyPoints (or are already a member), search for “Current” in the Deals sections. You will see an offer for 20,000 MyPoints (15,500 MyPoints points = $100 Amazon gift card) if you complete similar requirements of opening a Premium Banking Account and completing a payroll direct deposit of $200 or more.
  • There is a referral offer available, but it is literally for just $1. Yes, 100 pennies. The only plus is that you get it without a premium account. Don’t worry, I’d pass too!

The Swagbucks/Mypoints portals are honest sites but not 100% reliable in tracking so one possibility is to try and click through them, but enter the WELCOME50 code directly at sign-up or in the app, and be happy if you get the $50 and pleasantly surprised if the other bonus stacks on top.

Existing user bonuses.

  • If you are an existing customer (or after signing up for the bigger bonuses above), go into your profile and enter the following Current Codes: Beast, BeastBank, and BeastHunt. Youtuber MrBeast should send you $1 for each code ($3 total) and some report also winning “Premium membership for life”. He’s figured out how to become rich by giving away money. Genius, really!
  • Let me know if you find any other similar codes floating around.
My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Top 10 Best Credit Card Bonus Offers – January 2022 (Updated)

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

Updated and checked January 2022. That space in your wallet or purse is valuable, and you should be the one to get that value. By being smart and picky, you can find offers worth $500+ for a single card, all to encourage you to apply and try it out. We participate if various financial offers for thousands of dollars in extra income (over $5,000 in 2021). These are the top 10 credit card offers that I would personally apply for right now (or have already). Notable recent changes:

  • Added Venture X 100k, Aeroplan 100k, AmEx Platinum
  • Removed JetBlue 70k, Delta 70k, Southwest 100k, Wyndham 90k, United Quest 100k.

This is a companion post to my Top 10 Best Business Card Offers. Small business bonuses are on average even higher than those on consumer cards.

Capital One® Venture® X Rewards Card

  • 100,000 miles (worth $1,000 towards travel) after $10,000 in purchases within the first 6 months. See link for details.
  • $200 vacation rental credit. Get up to $200 in statement credits for vacation rentals within your first year.
  • $300 annual travel credit. Get up to $300 in statement credits when booking through Capital One Travel.
  • Up to $100 credit towards TSA PreCheck or Global Entry application fee.
  • $395 annual fee.

Chase Aeroplan World Elite Mastercard

  • 2 Welcome Flight Rewards (worth up to 100,000 total points) after $4,000 in purchases within the first 3 months. See link for details.
  • Free first checked bags on Air Canada flights: one free checked bag for the primary cardmember and up to eight other travelers on the same itinerary.
  • Up to $100 credit towards TSA PreCheck or Global Entry application fee.
  • $95 annual fee.

The Platinum Card from American Express

  • 100,000 Membership Rewards points after $6,000 in purchases in the first 6 months. Plus 10X points on eligible purchases at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months. See link for details.
  • $200 Hotel Credits, $240 Streaming Credits, $200 Airline Fee Credits, $200 Uber Cash, $179 CLEAR Credit, $300 Equinox credit, $100 Shop Saks credit and more annually!
  • $100 Global Entry or $85 TSA PreCheck fee credit.
  • Premium airport lounge access through the American Express Global Lounge Collection®.
  • $695 annual fee.

Chase Sapphire Preferred Card

  • 60,000 Ultimate Rewards points (worth $750 minimum towards travel and more) after $4,000 in purchases within the first 3 months. Up to 25% boost in Ultimate Rewards redemptions. See link for details.
  • 2X points on Travel and Dining at restaurants worldwide.
  • $95 annual fee.
  • Subject to 5/24 rule.*
  • Alternative: Chase Sapphire Reserve Card. 50k bonus worth $750 towards UR travel. Up to 50% boost on Ultimate Rewards redemptions, 3X on Travel and Dining, Priority Pass airport lounge access, $550 annual fee, $300 annual travel credit.

Hawaiian Airlines World Elite MasterCard

  • Up to 80,000 Hawaiian miles. 60k after $2,000 in purchases within 90 days + additional 20k after $4,000 in total purchases within first 6 months. See link for details.
  • Free first checked bag for primary cardmember.
  • One-time 50% off companion discount for roundtrip coach travel between Hawaii and The Mainland on Hawaiian Airlines.
  • $99 annual fee.

Chase United Explorer Card

  • 60,000 bonus United miles after $2,000 in purchases within 3 months. See link for details.
  • Free first checked bag for both you and a companion (a savings of up to $120 per roundtrip) when you use your Card to purchase your United ticket.
  • Expanded award availability. Having this card makes it easier to find that saver award economy ticket.
  • $0 annual fee for the first year, then $95.
  • Subject to 5/24 rule.

U.S. Bank Altitude Connect Visa Signature Card

  • 50,000 bonus points (worth $500 in statement credits) after $3,000 in purchases within 120 days. See link for details.
  • 4X points on travel and gas stations, 2X points on dining and grocery stores.
  • Up to $100 statement credit for Global Entry or TSA PreCheck.
  • $30 annual streaming bonus.
  • $0 annual fee the first year, $95/year thereafter.

Hilton Honors American Express Card

  • Up to 130,000 Hilton Honors points. 80k points after $1,000 in purchases in first 3 months, plus another 50k points after a total of $5,000 in purchases in the first 6 months. See link for details.
  • Free Honors Silver status (5th standard reward night free, 2 bottles of water in your room).
  • No annual fee.

American Express® Rose Gold Card

  • 60,000 Membership Rewards points after $4,000 in purchases in first 6 months. Limited-time offer. See link for details.
  • $120 in Uber Cash annually (good towards Uber Eats or Uber rides in the US).
  • $120 in annual dining credit at Grubhub, Seamless, and more.
  • 4X points at at restaurants.
  • 4X points at US supermarkets, on up to $25,000 per year.
  • $250 annual fee.

Citi Premier Card

  • 60,000 points (worth $600 in gift cards) after $4,000 in purchases in the first 3 months. See link for details.
  • 3X points for every $1 spent on restaurants, supermarkets, gas stations, air travel and hotels.
  • Must not have gotten bonus from or closed a Citi Rewards+, ThankYou Preferred, Premier, or Prestige card in the past 24 months.
  • $95 annual fee.

Barclays AAdvantage Aviator Red Card

  • 60,000 American Airlines miles after first purchase (any amount) and paying $99 annual fee in full, both in first 90 days. See link for details.
  • First checked bag free on domestic AA flights ($60 value per roundtrip, per person).
  • $99 annual fee.

Citi / AAdvantage Platinum Mastercard

  • 60,000 American Airlines miles after $3,000 in purchases in the first 3 months. See link for details.
  • First checked bag free on domestic AA flights ($60 value per roundtrip, per person).
  • $0 annual fee for the first year, then $99.

Bank of America Premium Rewards Card

  • 50,000 points (worth $500 towards travel) after $3,000 in purchases within the first 90 days. See link for details.
  • 2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.
  • $100 annual Airline Incidental Statement Credit.
  • Up to $100 credit towards TSA PreCheck or Global Entry application fee.
  • $95 annual fee.

Marriott Bonvoy Boundless Card

  • 3 Free Night Certificates (worth up to 50,000 points each) after $3,000 in purchases within the first 3 months. See link for details.
  • Free Night after each account anniversary year (valued up to 35,000 Marriott points).
  • $95 annual fee.
  • Subject to 5/24 rule.

IHG Rewards Club Premier Card

  • 125,000 IHG Rewards club points after $3,000 in purchases within the first 3 months. See link for details.
  • Free Night after each account anniversary year (valued up to 40,000 IHG points).
  • 4th Award Night Free (Book 3 nights in a row with points, 4th is free)
  • $89 annual fee.
  • Subject to 5/24 rule.*

If you pay off your balances every month, then you can join me and many others in funding a huge chunk of your annual travel budget with cash credits, points, and miles. I mostly use my rewards points on family trips – domestic economy flights, mid-range hotels, and cheap car rentals. If you have credit card debt, you should focus on paying that off first as the interest charges could offset most of the perks.

* 5/24 Rule? Certain Chase cards have a “5/24 rule” which is an unofficial rule that they will automatically deny approval on new credit cards if you have 5 or more new credit cards from any issuer on your credit report within the past 24 months (2 years). This rule applies on a per-person basis, so if you are new, you might want to start with those Chase cards.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Top 10 Best Small Business Credit Card Bonus Offers – January 2022

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

Updated January 2022. Do you have small business income or work as an independent contractor? Freelance, Uber/Lyft, Amazon, eBay, Etsy, Airbnb? A small business credit card separates your personal and business expenses and can build up your business credit profile. If you are not a corporation or LLC, you can apply as a sole proprietorship, with your name as the business name and your Social Security number as the Tax ID number. These are the top 10 credit card offers that I would personally apply for right now (or have already). Recent changes:

  • Added United Biz 150k, Amex Blue Cash $500, Amex Platinum 120k.
  • Removed JetBlue 70k, Wyndham 90k, AA 80k.

This is a companion post to my Top 10 Best Credit Card Bonus Offers for personal cards. Notice that small business bonuses are on average even higher than those on consumer cards.

Business Platinum® Card from American Express

  • 120,000 Membership Rewards points after $15,000 on eligible purchases in the first 3 months.
  • HUGE list of additional perks including $400 Dell, $360 Indeed, $150 Adobe, $120 wireless phone annual credits, $200 annual airline fee credit, $179 CLEAR credit, Centurion airport lounge access, and more. See link for details.
  • $695 annual fee.

United Explorer Business Card

  • Up to 150,000 bonus United miles. 75,000 miles after $5,000 in purchases in the first 3 months. Additional 75,000 miles after $20,000 total purchases in the first 6 months.
  • Free first checked bag for both you and a companion (a savings of up to $140 per roundtrip).
  • Expanded award availability. Having this card makes it easier to redeem for that saver award economy ticket.
  • Primary rental car coverage when renting for business purposes.
  • $99 annual fee.
  • Subject to 5/24 rule.*

American Express Blue Business Cash Card

  • Up to $500 in Statement Credits. Earn a $250 Statement Credit after $5,000 in qualifying purchases on your Card within the first 6 months. Plus, earn an additional $250 statement credit after an additional $10,000 or more in qualifying purchases within the first year of Card Membership.
  • 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
  • No annual fee.

Chase Ink Business Preferred Card

  • 100,000 Ultimate Rewards points (worth $1,250 towards flexible travel) after $15,000 in purchases in the first 3 months. See link for details.
  • 3X points on the first $150,000 spent on travel, shipping purchases, internet/cable/phone services, and advertising purchases with social media sites and search engines.
  • Primary rental car coverage when renting for business purposes.
  • $95 annual fee.
  • Subject to 5/24 rule.*

Chase Ink Business Unlimited Card

  • $750 bonus cash back after $7,500 in purchases in the first 3 months. See link for details.
  • Flat 1.5% cash back on all purchases with no limit.
  • No annual fee.
  • Subject to 5/24 rule.*

Chase Ink Business Cash Card

  • $750 bonus cash back after $7,500 in purchases in the first 3 months. See link for details.
  • 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year.
  • No annual fee.
  • Subject to 5/24 rule.*

JetBlue Plus Business Mastercard

  • Up to 70,000 bonus TrueBlue points. Earn 50,000 bonus points after spending $1,000 on purchases within the first 90 days, and earn 20,000 bonus points after spending $6,000 on purchases within the first 12 months. See link for details.
  • First checked bag free for the primary cardmember and up to 3 companions when tickets are purchased with your JetBlue Plus Card.
  • $99 annual fee.

Hawaiian Airlines Business MasterCard

  • Up to 90,000 Hawaiian miles. 50,000 miles after $1,000 in purchases within the first 90 days, plus an additional 40,000 miles after $6,000 in purchases within the first 12 months. See link for details.
  • Receive a one-time 50% off companion discount for roundtrip coach travel between Hawaii and The Mainland on Hawaiian Airlines.
  • $99 annual fee.

World of Hyatt Business Card

  • 75,000 Hyatt points after $7,500 in purchases in the first 3 months. See link for details and rough valuation of points.
  • Up to $100 in Hyatt statement credits – spend $50 or more at any Hyatt property and earn $50 statement credits up to two times each anniversary year.
  • $199 annual fee.
  • Subject to 5/24 rule.

Bank of America Business Advantage Cash Rewards Card

  • $500 statement credit after $5,000 in purchases in the first 90 days. See link for details.
  • 3% cash back on your choice of six categories. 2% cash back on dining and unlimited 1% cash back on all other purchases. The 3% and 2% cash back applies to the first $50,000 in combined category/dining purchases each calendar year, 1% thereafter.
  • No annual fee.

Hilton Honors American Express Business Card

  • Up to 180,000 Hilton Honors points. 130k points after $2,000 in purchases in first 3 months, plus another 50k points after a total of $10,000 in purchases in the first 6 months. See link for details.
  • Free Weekend Night Reward certificate after you spend $15,000 on purchases in a calendar year.
  • $95 annual fee.

US Bank Business Leverage Card

  • 75,000 bonus points after $7,500 in purchases (on the Account Owner’s Card only) in first the 4 months. 75,000 bonus points can be redeemed for $750 in cash back. See link for details.
  • Availability may be restricted to certain states.
  • $0 annual fee for the first year, then $95.

Capital One® Spark® Miles for Business Card

  • 50,000 miles (worth a $500 statement credit) after $4,500 in purchases in the first 3 months. See link for details.
  • Flat 2X points per dollar spent on all purchases with no limit.
  • $0 annual fee for the first year, then $95.

Alaska Airlines Visa Business Card (Bank of America)

  • 60,000 Alaska miles + Companion Fare Voucher after $3,000 in purchase within 90 days. Limited-time offer. See link for details.
  • Companion fare voucher is “Buy one ticket, get one for $121” ($99 fare plus taxes and fees from just $22).
  • Free checked bag on Alaska flights for you and up to six other passengers on the same reservation.
  • $50 annual fee for company, plus $25 per card.

* Note: Certain Chase cards have a “5/24 rule” which is an unofficial rule that they will automatically deny approval on new credit cards if you have 5 or more new credit cards on your credit report within the past 2 years. This rule applies on a per-person basis, so if you are new, you might want to start with those Chase cards.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

United Business Card Review: 150,000 Bonus United Miles Offer

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

New increased 150k bonus miles offer. The UnitedSM Business Card offers unique perks for regular United customers including free checked bags and expanded award seat availability for redeeming miles. Here are the highlights:

  • Earn up to 150,000 bonus miles. 75,000 miles after $5,000 on purchases in the first 3 months your account is open. An additional 75,000 miles after you spend $20,000 total in the first 6 months.
  • Free first checked bag for both you and a companion (a savings of up to $140 per roundtrip) when you use your Card to purchase your ticket.
  • Priority boarding for you and companions on the same reservation on United-operated flights.
  • Two one-time United ClubSM passes each year ($100+ value)
  • Expanded award availability. Having this card makes it easier to redeem for that saver award economy ticket.
  • $100 annual United travel credit after 7 flight purchases of $100 or more.
  • 5,000 miles annual bonus miles when you have both the UnitedSM Business Card and a personal Chase United credit card.
  • 25% back on United inflight purchases.
  • 2X miles per $1 spent on local transit and commuting, including train tickets, taxi cabs, mass transit, tolls and ride share services.
  • 2X miles on dining, gas stations and office supply stores.
  • 2X miles on United purchases and 1 mile per $1 spent on all other purchases.
  • No foreign transaction fees.
  • Your miles don’t expire as long as your credit card account is open, with no limit to the number of miles you can earn.
  • Employee cards at no additional cost.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for one year with DashPass, DoorDash’s membership service. Activate by 3/20/2022.
  • $99 annual fee.

This card is considered a “new” card, differ from the old Business Explorer card:

This product is available to you if you do not have this Card and have not received a new Cardmember bonus for this Card in the past 24 months.

In addition, you can get this card and bonus if you had the consumer version of the United Explorer in the past 24 months (or have one now).

Many people aren’t aware of the fact that they can apply for business credit cards, even if they are not a corporation or LLC. The business type is called a sole proprietorship, and these days many people are full-time or part-time consultants, freelancers, eBay/Amazon/Etsy sellers, Uber/Lyft drivers, or other one-person business owners. This is the simplest business entity, but it is fully legit and recognized by the IRS. On a business credit card application, you should use your own legal name as the business name, and your Social Security Number as the Tax ID.

Note that Chase has an unofficial rule that they will most likely deny approval on new credit cards if you have 5 or more new credit cards from any issuer on your credit report within the past 2 years (aka the 5/24 rule). This rule is designed to discourage folks that apply for high numbers of sign-up bonuses. This rule applies on a per-person basis, so in our household one applies to Chase while the other applies at other card issuers.

The good news is that small business cards from Chase hardly ever show up on personal credit reports, so getting this card in itself won’t affect your future 5/24 eligibility. This it makes a “free” application if you are already eligible.

This card is very focused on rewarding you for being a United customer. Before you board, you might use one of your free United Club lounge passes. You have the first checked bag for free on United flights, both for your and a companion traveling on the same reservation. The fee is usually $30 per person, each way, so that this how they get the value of $120 each roundtrip. You also get Priority Boarding, which helps you find space for your carry-on.

Expanded award availability. You earn United miles for all your purchases (double miles on restaurants and hotel stays), but then they also make it easier for you to redeem those miles on Saver level tickets with no blackout dates. Expanded award seat availability is another of the top perks from this card, and it is actually a significant difference. Saver Award ticket redemptions start at 12,500 miles one-way within the continental U.S. and Canada.

Another unique feature of this card is that it offers primary coverage on the Auto Rental Collision Damage Waiver. On many other cards, this coverage is offered as secondary coverage, meaning it only kicks in after your personal auto insurance has been exhausted.

Bottom line. The United Business card offers valuable perks for folks that fly United even just once or twice a year. The card provides lounge passes, a free checked bag, priority boarding, and inflight discounts. There are bonus categories to earn more miles, and special expanded award seat inventory for credit card holders to make it easier to actually redeem those miles for flights.

Also see: Top 10 Best Small Business Card Bonus Offers.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Health Insurance Required to Cover Free At-Home COVID Tests Starting 1/15

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

If you’ve been facing the prospect of spending hundreds of dollars on at-home COVID tests so that you and/or your kids can go back to work/school after an exposure event, please note that starting Saturday, January 15th, health insurance companies will be required to cover 8 free At-Home COVID tests per person, per month. From NPR:

Insurance companies and health plans will be required to cover eight free over-the-counter at-home tests per covered individual per month, according to White House officials. For instance, a family of four all on the same plan would be able to get up to 32 of these tests covered by their health plan per month.

There is more information in this CMS.gov FAQ.

Starting January 15, most people with a health plan can go online, or to a pharmacy or store to purchase an at-home over-the-counter COVID-19 diagnostic test authorized by the U.S. Food and Drug Administration (FDA) at no cost, either through reimbursement or free of charge through their insurance. This applies whether you purchased your health plan on your own or whether you get health insurance through your job.

The test will either be free directly at the point of sale, if your health plan provides for direct coverage, or by reimbursement if you are charged for your test. Be sure to keep your receipt if you need to submit a claim to your insurance company for reimbursement. If your plan has set up a network of preferred providers at which you can obtain a test with no out-of-pocket expense, you can still obtain tests from other retailers outside that network. Insurance companies are required to reimburse you at a rate of up to $12 per individual test (or the cost of the test, if less than $12).

The actionable advice here is to perhaps not stock up on these COVID tests until January 15th. At that time, hopefully you’ll just be able to pick them up for free at the local pharmacy or health provider, but at the minimum you should save your receipts to be reimbursed. Given how much hassle reimbursement usually is, I’ll probably try to wait until I can have the pharmacy to deal with the insurance paperwork.

I say wait until 1/15 if you can, because of this:

Plans and insurers are required to cover at-home over-the-counter COVID-19 tests purchased on or after January 15, 2022. Plans or issuers may, but are not required by federal law to, provide such coverage for at-home over-the-counter COVID-19 tests purchased before January 15. Contact your health plan to inquire about getting reimbursed for tests purchased before January 15, 2022. Some states may have existing requirements related to coverage of at-home over-the-counter COVID-19 tests.

I’ve already bought several of these iHealth Antigen Rapid Tests (FDA-authorized) from Amazon and they have come a little faster than promised.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Citi Premier Card Review – 60,000 ThankYou Points (Worth $600 in Gift Cards and More)

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

The Citi Premier Card is a re-structured rewards credit card offering 60,000 bonus points (redeemable $600 in gift cards at thankyou.com) Here are the highlights:

  • 60,000 bonus ThankYou points after $4,000 in purchases in the first 3 months
  • 3X points at Supermarkets
  • 3X points at Restaurants
  • 3X points on Gas Stations, Air Travel, and Hotels
  • 1X points on all other purchases
  • $100 Annual Hotel Savings Benefit
  • Points Transfer allows you to transfer points to participating airline and hotel loyalty programs
  • No foreign transaction fees
  • $95 annual fee.

Note the following fine print which mentions other ThankYou-related Citi cards:

Bonus ThankYou® Points are not available if you received a new cardmember bonus for Citi Rewards+®, Citi ThankYou® Preferred, Citi ThankYou® Premier/Citi Premier® or Citi Prestige®, or if you have closed any of these accounts, in the past 24 months.

$100 Annual Hotel Savings Benefit details.

Once per calendar year, enjoy $100 off a single hotel stay of $500 or more, excluding taxes and fees, when booked through thankyou.com or 1-800-THANKYOU (powered by cxLoyalty) and subject to the additional requirements stated below. For speech or hearing impaired TTY: Use 711 or other relay service. To receive the $100 annual hotel savings, you must pre-pay for your complete stay with your Citi Premier Card, ThankYou Points, or a combination thereof. If you choose to use the benefit, the $100 annual hotel savings will be applied at the time of booking.

Note: In 2020, the Citi Premier card eliminated the 25% points bonus when redeemed for travel booked at Thankyou.com.

60,000 ThankYou points = $600 in gift cards. You can view your redemption options at ThankYou.com. I took a quick look and it takes 10,000 ThankYou (TY) points to redeem for a $100 gift card to retailers like Gap, Banana Republic, Barnes & Noble, Bath and Body Works, Bed Bath & Beyond, Cabelas, CVS Pharmacy, Kohl’s, Land’s End, LL Bean, Sears, Lowe’s, Home Depot, Staples, and Walmart. So with 60,000 TY points, you could get six $100 gift cards from different stores, or all from the same store. You may also be able to find options to send a check towards your mortgage payment and/or student loan payment.

Hotel points and airline miles transfer options. Citi ThankYou points are also now available to transfer to certain airline mileage programs on a 1:1 basis including JetBlue TrueBlue, Virgin Atlantic, Singapore Airlines, Cathay Pacific, EVA Air, Etihad, Flying Blue by Air France and KLM, and Thai Airways.

For example, 60,000 ThankYou points can be transferred to 60,000 JetBlue TrueBlue points, which can then be redeemed free airfare at a ratio that varies between 1.1 cents per point and 1.6 cents per point. Even if you are conservative, this still works out to over $600 in JetBlue airfare.

Alternatively, 60,000 TY points can also get you 60,000 Singapore Airlines KrisFlyer miles. If you know how to redeem these points wisely and like to fly in international business class, you can get a lot of value. For example, Singapore Airlines has some very nice award options and great customer service.

Amazon and Best Buy. You can also use the “Pay with Points” features at Amazon and Best Buy, but you will only get 0.8 cents per ThankYou points in value at Amazon. For example, 60,000 ThankYou points will offset $480 in Amazon.com purchases.

Bottom line. The Citi Premier Card is a rewards travel card with 3X points on restaurants, supermarkets, gas stations, air travel and hotels, along with a $95 annual fee. Currently, new cardholders can get a sign-up bonus of 80,000 ThankYou points. Note the restrictions if you’ve had or closed any related ThankYou card in the last 24 months.

I will be adding this to the Top 10 Best Credit Card Bonus Offers.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Chase Freedom Flex Review: $200 Bonus, 5% Rotating Categories, 3% Back on Dining Out, No Annual Fee

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

The Chase Freedom Flex Card is the new 5% cash back rotating category card for Chase, including the notable addition of 3% cash back on dining out and drugstore purchases. All of the popular features from the old Freedom remain as well: Up to 5% cash back on select categories throughout the year, no annual fee, and the ability to earn Ultimate Rewards points (useful in combination with Chase Sapphire cards). Highlights:

  • $200 cash bonus (20,000 Ultimate Rewards points) after $500 in purchases in your first 3 months.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 – 23.74%.

Here are the ongoing features of the Freedom Flex:

  • 5X points (5% cash back) on up to $1,500 in combined purchases in rotating categories each quarter you activate.
  • 5X points (5% cash back) on travel purchased through Chase Ultimate Rewards(R).
  • 3X points on dining out, take-out, and eligible delivery services.
  • 3X points on drugstore purchases.
  • 1X points on all other purchases.
  • Cell phone insurance is one of the noteworthy World Elite Mastercard benefits. “Up to $800 per claim and $1,000 per year in cell phone protection against theft or damage for phones listed on cardmembers’ monthly bill.”
  • No annual fee.

From January 1st through March 31st, 2022 , you can earn 5% cash back on up to $1,500 spent in the following categories:

  • Grocery Stores (not including Walmart and Target).
  • Fitness Club and Gym memberships

Enroll after logging into your online account (look on the right-hand side). 5% rewards won’t apply until after you activate your rewards, so it is best to activate now before you forget. No annual fee.

Remember that these cards earn Ultimate Rewards (UR) points, which can then be redeemed for cash at 1 UR point = $0.01. Therefore, you can either view a category as 3X points per dollar points, or 3% cash back. When UR points are transferred to a Chase Sapphire Preferred or Chase Sapphire Reserve card, they can become much more valuable when converted to frequent flier miles or hotel points. For example, if you have the Chase Sapphire Reserve, 5x points = 5 United miles per dollar spent, 5 Hyatt points per dollar spent, or 7.5% value back towards travel redeemed at the Chase Ultimate Rewards travel portal.

This is a new card (different than the regular Chase Freedom Visa), so everyone should be eligible for the bonus, but Chase does have an unofficial rule that they will automatically deny approval on new credit cards if you have 5 or more new credit cards from any issuer on your credit report within the past 2 years (aka the 5/24 rule). This rule is designed to discourage folks that apply for high numbers of sign-up bonuses. This rule applies on a per-person basis, so in our household one applies to Chase while the other applies at other card issuers.

If you have an existing Chase card like the original Freedom card, you may be able to convert to this card by calling them directly. You won’t get the sign-up offer, but you will get the new ongoing features.

Bottom line. The Chase Freedom Flex Card is a unique rewards card that lets you earn 5% cash back on select categories each quarter, in addition to a constant 3% cash back on dining out and drugstore purchases. If you have a Chase Sapphire card, this card is a great way to earn Ultimate Rewards points while using the additional redemption options of the Sapphire (hotel points, airline miles, and travel redemptions).

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

Chase Freedom Unlimited Review – 1.5% Flat Cash Back + New Cardholder 1.5% Cash Back Bonus

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

The Chase Freedom Unlimited Card is a no-annual-fee rewards card which earns a flat 1.5% cash back on all purchases (or a possibly more valuable 1.5 Ultimate Rewards points per dollar spent). This is a different card from the new Chase Freedom Flex, which has 5% cash back on rotating categories, on up to $1,500 in purchases each quarter. Here are the highlights:

For new cardholders:

  • INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) – worth up to $300 cash back!
  • Enjoy 6.5% cash back on travel purchased through Chase Ultimate Rewards(R), our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
  • Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 14.99% – 23.74%.

Ongoing benefits:

  • 5X points (5% cash back) on travel purchased through Chase Ultimate Rewards(R).
  • 3X points (5% cash back) on dining out, take-out, and eligible delivery services.
  • 3X points (3% cash back) on drugstore purchases.
  • Earn unlimited 1.5% cash back on all purchases. Redeem for cash – any amount, anytime.
  • Earn 5% cash back on Lyft rides through March 2022. That’s 3.5% cash back in addition to the 1.5% cash back you already earn.
  • Cash back does not expire as long as your card is open.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 – 23.74%.
  • No annual fee.

1.5% cash back on all purchases is better than the 1% cash back you see from a lot of cards, but there are competitors with higher effective cash back rates.

But wait, you actually get Ultimate Rewards Points! The lesser-known perk of this card is that you actually earn Ultimate Rewards points, which are in turn redeemable for cash back at a rate of 100 points = $1 in cash back, or 1 cent per point. But you don’t have to do that. Ultimate Rewards points are worth collecting because of their flexibility. (I hope Chase doesn’t forget this fact.) This is important because there are many ways in which Ultimate Rewards points can be worth much more than 1 cent per point.

If you have also have the Chase Sapphire Preferred, Chase Sapphire Reserve, or Ink Business Preferred Card, then you can pool all of your Ultimate Rewards points together (even with your spouse/partner as an authorized user) and thus utilize all of the same transfer partners with the following results:

  • Earn 1.5 United Mileageplus miles per dollar spent on ALL purchases.
  • Earn 1.5 Hyatt points per dollar spent on ALL purchases.
  • Earn 1.5 British Airways Avios per dollar spent on ALL purchases.
  • Earn 1.5 Southwest Rapid Rewards points per dollar spent on ALL purchases.

Notice that you are earning more miles and points on ALL purchases than even the specific co-branded cards from United or Hyatt themselves! Most of them just offer 1 point/mile per dollar spent on all purchases.

If you placed a perceived value of 1.5 cents on each United Airlines mile or Hyatt hotel point, then you’d receive 2.25 cents of perceived value per dollar spent with this card. Your actual numbers will depend on your own specific redemption choices, but you can see that you can definitely exceed 2% cash back value on an ongoing basis with the Sapphire Preferred/Freedom Unlimited combo.

With the Sapphire Reserve, you can also redeem for travel through the Ultimate Rewards portal at 1.5 cents per point value, which means 20,000 Ultimate Rewards points = $300 towards airfare, hotel, car rentals booked through Ultimate Rewards. 5% cash back on groceries turns into 7.5% potential value back, and so on.

If you would like the opportunity to earn 5% cash back on rotating bonus categories each quarter, compare with the Chase Freedom Flex card. You can have both a Freedom and a Freedom Unlimited card, but you’ll have to apply for each card separately. I think this is actually a great combo if you plan to keep a Sapphire Preferred/Sapphire Reserve/Ink Preferred cards as well.

Restrictions. This card is subject to “5/24” restrictions, which means that your application will be automatically denied if you have opened 5 or more credit cards in the last 24 months (check your credit reports). Our household strategy is to have one person only apply for Chase 5/24 cards, and the other person applies for everything else. There is also this language on the consumer card:

This product is not available to either (i) current cardmembers of this credit card, or (ii) previous cardmembers of this credit card who received a new cardmember bonus for this credit card within the last 24 months.

Bottom line. The Chase Freedom Unlimited is a unique card that works best in combination with either the Chase Sapphire Preferred, Sapphire Reserve, or Ink Preferred Business cards. The combination of earning 1.5 Ultimate Rewards points per dollar spent on all purchases plus the unique redemption options from those other cards can create a value exceeding that of 2% cash back. You also get 3X points on dining out and drugstore purchases. Right now, there is a new cardholder promotion as well.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.