After a good run, the time has come to once again change our reward credit card strategy. First, AmEx reduced the rewards on their Blue Cash card, and then the same thing happened to the Chase Freedom card.
Over the past year or two, we’ve been using our AmEx Blue Cash card for nearly everything, with the Chase Freedom card serving as a backup at places that don’t accept AmEx. While we’re leaning toward replacing our AmEx (more on this in a forthcoming post), we’ve decided to drop our Chase Freedom card cold turkey.
Goodbye Chase, hello Citi
In its place, we’ll be using the new Citi Forward card. As you might have read in my recent review, this card offers ThankYou points instead of cash rewards. Not great, but the reward structure is pretty sweet…
You get five points for every dollar spent on books, movies, music, and at restaurants. And guess what? All purchases at Amazon.com qualify as “bookstore” purchases. Given that you can trade your points in for $100 store gifts cards on a point per penny basis, this equates to a 5% discount on all Amazon purchases, not to mention restaurants, etc.
Don’t forget the bonus
Oh, and don’t forget about all those bonus points that you’ll get when you sign up — 6k once as long as you make $50 in purchases during the first three months, and another 5k for signing up for paperless statements. This is enough for a $100 store gift card right off the bat, and you’ll still have 1k points to spare.