How to Earn 7.5% CASH BACK on GAS for the Next Three Months! – The Credit Shifu

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Hey credit warriors and yes it is true I am going to show you a way to earn 7.5% or more back on your gas spending for the months of April, May and June 2021. So the Chase Freedom Flex and the older Freedom card just announced that their new quarterly categories for quarter 2 of 2021. If you don’t know these are rotating categories where you can earn 5% cash back on spending up to $1500 in those categories for the quarter.

Chase just announced that the categories for the second quarter will be gas and home improvement stores. These are great categories and easy to max out. Gas is always easy and people often spend a bit of money at home improvement stores in spring which is now, so that is probably why they chose that as a category.

Now before I show you how we increase the value of that to 7.5% cash back, lets just look at the categories for quarter one, because you still have half a month to go to maximize them. So categories currently are

Wholesale Clubs
Internet, Cable and Phone
Streaming Services

You can see I have only spent about one third of what I need to max them out. But I have been working on the sign up bonus for the Charles Schwab Amex Platinum which is more valuable to me anyway. But if you have some spending you can do in those categories you have 15 days or there abouts until the end of the quarter.

Alright now how to increase the value. Well if you have a sapphire or ink card, Chase let’s you transfer your points and increase their value for certain things. I will put on screen the value you get and then look at how you can use them.

Sapphire Preferred: 1.25 cents pp
Sapphire Reserve: 1.5 cents pp
Ink Business: 1.25 cents pp

So you can see you get the highest value with the sapphire reserve, but the other two are still worth it. Now you can get that value from two different things, 1. Booking travel on the card through the travel portal. I actually just booked a flight to Mexico and exchanged 47,000 points for about $700 off a ticket. I’ll have a video coming out about that soon.

But I did say cash back and well it isn’t pure cash back but the 2nd thing you can use the points for at this value is a statement credit using the pay yourself back tool.

This means you can pay off charges on the card that are in these categories: grocery stores and dining at restaurants (including takeout & eligible delivery services), home improvement stores and select charitable organizations. I feel this is equivalent to cash back since it frees up cash you would use to pay off the card, so it ends up leaving the same amount of cash in your bank account as you are redeeming for. Unless you are someone who carries a balance on the card and wouldn’t pay anyway, but then you have bigger problems.

If you have the ink or sapphire preferred then you can do the same thing, but just at 1.25 cents per point instead of 1.5.

Alright guys that is the video, please subscribe if you are new and if you are interested in this set up, I will put the links to the Chase Freedom Flex and Sapphire and Ink Cards below. Please subscribe if you are new for more tips like this and we will see you next time. Bye bye.

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