If you have access to a credit card that offers sign-up bonuses worth thousands of dollars and are willing to spend time unlocking value from it, then the Chase Visa® Card can be worth it. Reserved for those with excellent credit and a good track record of managing their finances, this card is so much more than an opportunity to get a bonus — it’s also a gateway to unlocking higher value in your life. Here are 6 ways you can maximize the value of a Chase Visa Credit Card.
How do you maximize your Visa credit card rewards?
The first thing to understand is what your card’s rewards structure is. A lot of people get confused when they see rewards rates of 4% or 5%, and assume that the credit card is offering a high rate of return. While the card will be paying you 4–5% back, that’s only on the amount you spend on your card. If you charge $1,000 on your card, you’ll get back just $400. Right now, the average credit card rewards rate is just 3.2%. So, to get the most value from your card and maximize the rewards you’re earning, you need to charge the highest amount you can afford and make sure you’re always paying off your balance. In order to maximize your card’s rewards, use it like you would use a debit card. When you go to make a purchase, take the card out of your wallet and add the amount you want to charge to the total. Then, swipe the card and put it back in your wallet. If you want to make it even simpler, you can download an app that will keep your credit card information and account information together on your phone so you don’t have to constantly double-check.
How do I maximize my Chase Freedom card?
There are many ways to maximize the value of this card, but the easiest is just to use it often. The Chase Freedom card allows you to earn 5% cash back on up to $1,500 in combined purchases in the first year, then 1% cash back on the remaining amount. That means that if you make $1,500 in purchases with your card, you’ll get five $25 bills back. If you can’t pay off your balance right away, you could even choose to make a $1,500 minimum payment and still get 5% cash back. This is a great card for everyday spending, and the best part is that the sign-up bonus (when you spend $500 within the first month) is worth more in value than the bonus for most other credit cards.
How do I maximize my Chase Sapphire benefits?
If you have a Chase Sapphire card, then you have one of the most valuable benefits available to cardholders. While the sign-up bonus is worth $500 and can be valuable in itself, what you’re really looking for is the annual fee credit. That way, every year you’re increasing your benefits, which include: – $500 airport lounge access – $500 in Uber credits – $100 Global Entry credit – $100 in Uber credits every year your card is open, and then you can use those credits as another way to get more value out of your card. If you’re looking to maximize your value, you should make sure that you’re maximizing your Chase Sapphire benefits. One option is to get your card opened as soon as you can and then maximize your benefits straight away. Another is to wait to get your card opened until after you’ve maximized your benefits, but that’s up to you.
What qualities should you value in a credit card?
Credit cards are a gateway to debt. Some people use them as a way to build their credit score, while others use them to take out loans. But either way, credit card debt has consequences. Before you apply for a new credit card, it’s important to consider what you’d like to get out of the card. The most obvious quality to look for is the sign-up bonus: would you value the $1,000 Chase gift card, or would you rather have the $500 Chase Freedom card? Then, you’ll want to look at the action you can take to maximize the value of your card. For example, if you value the Global Entry and TSA PreCheck credit, then you should try to get Global Entry yourself.
Consider adding an authorized user
Another way to maximize the value of your card is to add an authorized user on your account. Authorized users can be family members, friends, or co-workers, and they can sign up for the card with just a $50 fee. Under the original owner’s account information, they’ll have access to all of the same account features and benefits as the primary cardholder. If you want to help someone else get access to a credit card, then this is a great way to do it without paying the $50 fee. The most important value you can add to the authorized user’s account is getting them onto the card. Once they’re on the card, they can add someone else to the account and start building the credit history that will be reflected on their own account.
The goal of any credit card is to generate revenue for the card issuer without incurring any cost. So, the value you get from a credit card is determined by how you use it. The best thing you can do is make sure you’re using your card responsibly, so that you don’t end up paying interest on the balance and causing your credit score to take small nosedives. As long as you keep your credit card usage in check and make payments on time, you can reap the rewards of a card without hurting your credit score. And, that means you’ll be able to get more value out of the card than what’s offered under the typical terms.