Chase Encourages Mobile Wallet Use With Reward Offerings
New reward options for Chase card users may get them to download and use a mobile wallet app, even if they’ve been reluctant to do so before. Chase Freedom is offering 5% cash back on up to $1500 in purchases over the first quarter of 2018, when they make purchases with Chase Pay, Apple Pay, Android Pay, or Samsung Pay.
BJ Mahoney, general manager of Chase Freedom, explained why the company is adding an incentive for folks to use mobile wallets. “We want Chase Freedom cardmembers to try – and enjoy – the convenience of mobile wallets. They can maximize their rewards not only by paying for necessities, but also by splurging, like for their favorite coffee, when using a mobile wallet.”
Besides getting 5% back for mobile wallet purchases, Chase cardholders can get 5% back on anything they buy at a gas station, and on their bills for internet service, cable television, phone service, Spotify, Hulu, and Netflix.
The popularity of rotating categories and cash back credit cards
Many cash back rewards credit cards employ the strategy of offering rotating reward categories, with a 5% back offer that changes with the seasons. Usually, cardholders have to activate the offer in order to take advantage of it, either by calling or clicking online. Once they’ve done so, they earn 5% back on all purchases in whatever the given category is that quarter. There’s almost always a cap on the rewards they can earn, with cardholders typically offering a maximum of $75 cash back per quarter, on purchases totaling $1500. After that, cardholders continue to earn 1% back on all purchases.
The spending categories are usually in line with the seasons, with folks getting extra cash back on home improvement purchases in the spring, department stores during the winter holidays, and amusement parks in the summer, just for example. Cash back credit cards tend to be available to folks with average to good credit, making them more attainable to a person with no credit history or limited credit. An elite rewards card might not approve the application of someone with limited or no credit, but a cash back card with rewards in rotating categories is generally more accessible to people with a range of credit scores.
Latest No / Limited Credit Card News
So far, no one can say for sure when the coronavirus pandemic will end. To assess the current financial situation of Americans, CreditCards.com has recently conducted two surveys of credit card debt during the COVID-19 outbreak. The surveys were conducted in March and April with over 2,000 U.S. adult respondents. Here are the key findings: […]
A recent CreditCards.com poll showed that 6 million or 8% of parents in the U.S. have at least one child using a credit card. Of course, children can’t apply for their own credit card until they turn at least 18, but most issuers allow to add them to their parents’ card accounts as authorized users.
The wedding season is coming up—meaning brides and grooms-to-be are busy tasting wedding cakes, refining guest lists, and booking photographers. But there’s something else they should add to their to-do list, financial advisors warn.
Webbank, a state-chartered industrial bank headquartered in Salt Lake City, Utah, has just introduced the enhanced cash back for its Petal® 2
Cash Back, No Fees Visa® Credit Card. Starting December 19, all Petal cardholders who use the Petal mobile app can notice new special offers. These deals are supposed to give cardmembers access to up to 10% cash back with eligible merchants […]
They say knowledge is power. And in the case of credit scores, it seems to be true.
A recent survey by the Consumer Federation of America (CFA) and VantageScore Solutions, LLC, found that people who had recently gained access to their credit score knew more about how credit scores are calculated than those who are unaware of their scores.