6 MUST KNOW Chase Credit Card Tips & Tricks

so I currently have eight Chase credit cards and over the past few years I've learned some pretty useful tips and tricks that have helped me to get thousands of dollars of value from them and that's why in this video I want to go over six of those tips and tricks that every Chase customer needs to know so that way you don't miss out on any of that value yourself now I'm gonna cover the best tips that I thought of but I'm sure there's plenty more out there that some of you know so watch this video Until the End and if I leave something out then just comment down below but let's not waste any time here and get right into it with number one which is going to be optimizing for better welcome bonuses now some other credit card issuers run public welcome bonus offers that might change throughout the day or vary depending on a number of factors but with Chase they typically run one public welcome bonus at a time that's available to everyone so if we take the Chase app I preferred for example which we're going to talk about a lot throughout this video right now the bonus is 60 000 Ultimate Rewards points after spending four thousand dollars in three months and I've sort of become the base welcome bonus offer for this card in recent years now sixty thousand points is the public offer that I got three years ago when I signed up for this credit card but we've been seeing public offers of up to 80 000 and even 100 hundred thousand points for the same four thousand dollar minimum spend so here's how you might be able to get those extra tens of thousands of points which could be worth an extra several hundred dollars in travel okay so first of all you might be targeted for special bonuses or even pre-qualified offers in the mail or through different sections of your Chase account so keep your eye on your mail because Chase could send you offers if you meet certain General criteria for people they want to Target or go to your Chase account if you're already a customer with them and on the left we can click and see options and then select just for you and here you can see for me that I don't have any current credit card offers other than Chase telling me that I can refer friends to get more points and actually we'll talk about refer friend bonuses in just a minute here because I have a great strategy for taking advantage of that but if you do see offers on this page they might tell you that you pre-qualified or pre-approved but that actually doesn't guarantee approval because you still have to apply and have a hard inquiry done but it does give you a very very high chance of approval if you see that pre-qualified offer now many times the welcome bonuses you're gonna see on this page might not be higher than the actual public offers but I've heard of some people getting slightly better offers from time to time so it doesn't really hurt check and then outside of getting targeted offers in the mail or through your Chase account the main way to get a higher welcome bonus like that 80k or 100K offer on the sapphire preferred is just to be patient and wait for Chase to increase the bonus I know that's a pretty obvious tip but I had to mention it here because I really wish it was something that I knew before I applied because a few months after I got the stuff I preferred with that 60k offer Chase went ahead and raised the bonus to 80k and I missed out on those extra 20 000 points so my tip here is that if you don't really need a card like the Chase app I preferred or any other Chase credit card you're looking at right now then just wait a bit and see if Chase increases the offer now of course nothing is guaranteed and Chase might not increase certain credit card bonuses for a long time but if you're under the chase 524 rule then maybe just wait a few months if you can also I'm gonna have some basic Chase tips throughout this video so to explain the chase 524 rule for anyone that's not familiar it's basically just an Unwritten rule that if you've opened five or more personal credit cards across all the issuers within the past 24 months you will automatically be denied for any new Chase credit cards so it's good to optimize for this Rule and keep it in mind because once you go over 5 24 you're locking yourself out of new Chase bonuses until you're back under it now I also have to say that when it comes to getting the best bonuses for Chase credit cards you could be able to get a slightly better bonus from time to time or even have the first year annual fee waived for certain cards by going into an actual physical Chase branch location to apply there's people talking about this on Reddit and some other credit card blogs but your experience may vary as far as what they can offer you and I wanted to mention it here because it doesn't get talked about enough on YouTube or some other websites now I'll keep it honest with you all because I always want to be 100 transparent about my channel and even the credit card industry so obviously YouTube channels like mine and some other credit card websites out there have our own affiliate links where we get paid a commission if you use those links to sign up as opposed to just signing up for a card on your own but nothing is more valuable to me than all of you watching this that make up my audience so my tip is that you got to put yourself first and find the best credit card offers out there which might not always be from an affiliate link now sometimes my links will be the best offers but always do your own research and gather your own information and for those of you that have used any of my links or might use them in the future I can't and thank you enough for helping to support the content here on this channel so yeah feel free to use any of the links down below to learn more about any of these credit cards if you're in the market for one all right enough with that little speech there let's move on to Chase credit card tip number two that I mentioned before which is taking advantage of refer friend bonuses so on most Chase credit cards you'll be given your own special link that sort of works like an affiliate link and your friends and family can use that to sign up for a new Chase credit card as well then since you're the one that helped to bring in a new Chase customer what they're gonna do is give you a pretty generous bonus in return so if we look at that chase app I preferred for example you can currently get 15 000 Ultimate Rewards points per referral for a Max of 75 000 points per year now these referral bonuses can change from time to time you can see what the current offers are by just logging into your Chase account and going to the refer a friend section and as a quick example to show you the power of this Chase referral program here's some tips that I just recently gave to some friends who are getting married next year and we're looking to use credit card points to help cover the cost of their honeymoon so neither of the two people getting married have the Chase Sapphire preferred yet so I told them hey if you could both qualify to get approved for the sapphire preferred then what you can do is first one of you should get that card now they plan to put some wedding expenses on this new credit card to meet the minimum spend requirement to get 60 000 points as that welcome bonus pretty easily but then I said whoever got that first Sapphire Preferred Card can now refer the other person to get that card where that person will also get a 60 000 Point welcome bonus after meeting the minimum spend and then the first person who referred them will be able to get 15 000 additional points as a referral bonus so instead of having one sapphire preferred with sixty thousand points they now have two sapphire preferreds with 135 000 points and if they redeem that towards plane tickets or hotel rooms for a honeymoon at an estimated value of 2 cents per Point by using Transfer Partners and there's 135 000 points become worth around twenty seven hundred dollars now I've got some other videos here on this channel about how to get more value from chase points with Transfer Partners that I'll link to down below as well after you go ahead and tap the like button and subscribe down below but that is some awesome value from leveraging both sign up bonuses and referral bonuses and who knows maybe as a wedding gift they can get the rest of those referral bonuses by getting some other friends and family to sign the card too now I always like to mention this big disclaimer if you're looking to do stuff like this with credit cards but make sure you're only using those credit cards to pay for things you already have cash on hand to pay for otherwise and then make sure to pay off your statement balances on those cards on time and in full each and every month try to budget and plan your spending as well so you don't overspend on your credit cards because that's an easy trap to fall into but overall just be very very careful because Chase cards are great but credit card debt is never worth the rewards okay moving on to tip number three which is a way to strategically move around in the Chase credit card system and that is downgrading your Chase credit cards at the right time now one of the main reasons why people like to downgrade their cards is to get rid of an annual fee on an account while still keeping that account open and that's pretty useful because you get to keep that credit limit and the account continues to age on your credit report instead of you closing the account and then having it drop off your report in the future also a quick side note here but aside from downgrading to get rid of an annual fee if you're an active duty military member then Chase will waive your credit card Annual fees so that's something really great to look into if it applies to you now when it comes to to downgrading what some people like to do is they apply for the 95 per year Chase Sapphire preferred or the 550 per year Chase Sapphire Reserve they get the sign up bonus maybe even an elevated bonus like I talked about and then after one year with one of those cards since we could only have one Sapphire card at a time then they decide the annual fee isn't worth it so they downgrade to either the Chase Freedom Flex or Chase Freedom unlimited which both have no annual fees that's why I've always viewed the sapphire cards as sort of risk-free when it comes to their signup bonuses because you can just apply meet the minimum spend to get that bonus and then downgrade to a no annual fee card after a year so that way you come out ahead in value no matter what now usually you can only downgrade from one card to another if they're in the same product family so with a sapphire and freedom cards they all fall under the Ultimate Rewards family of personal credit cards but then the other cards might fall under co-branded families like Southwest Airline cards or Marriott cards so you can't downgrade a Marriott card into an Ultimate Rewards card now in addition to downgrading to avoid an annual fee while keeping that account open you might also want to downgrade if you're eligible to get another sign up bonus so what I mean by this is if we look over the chase website for the sapphire preferred and reserved there's some fine print that says this product is available to you if you do not have a Sapphire card and have not received a new card member bonus for any Sapphire card in the past 48 months so let's interpret this in my own situation and what it means for me as someone who has a sapphire preferred and wants to get another 60 000 or maybe 80 000 Point welcome bonus in the future well like I said I got the card about three years ago in the fall of 2019 so I got my new card member bonus sometime in late 2019 which means that 48 months from that would put me at late 2023 before I'm eligible to get this card again along with another bonus but the first part of that fine print says if you do not have any Sapphire card so that means that I need to either close the Sapphire card or downgrade it first now closing it is not the best option when I can downgrade it to either a no annual fee Freedom Flex Freedom unlimited or even the original Chase Freedom Card which is actually no longer open to new applicants but still can be downgraded to according to data points that I've seen so once I downgrade to a no annual fee card by late 2023 I will won't have any Sapphire card and I'll be past that 48 month rule so I can apply for a new staff I preferred or reserved to get whatever the welcome bonus is at that time of course assuming that I'm still under the chase 524 rule which I keep track of using card pointers which is actually a great app and extension that I have a link to down below and I'll talk about again later and then tip number four goes right along with this when you downgrade so let's talk about getting multiple Chase Freedom cards now the first thing that I want to mention is you can have the freedom Flex Freedom unlimited and freedom cards all at once like I do you can't apply for the freedom anymore so you do have to downgrade to it but the freedom flex and freedom unlimited are open to new applications so you can get both and the sign up bonuses for each but here's why you might actually want to have more than one of these cards and how to do that so really I don't think there's any benefit to getting multiple Freedom unlimited cards with the way its Points categories work like getting 1.5 x back on everything but getting multiple Freedom Flex cards could give you a greater ability to earn points in those rotating 5x quarterly categories so right now if I had one Freedom Flex I'm getting 5x back in those categories that change every quarter but only on up to 15 500 in spending per quarter so that's a Max of 7 500 points or 75 dollars of cash back if I cash that out at one cent per point but if I had a second Freedom Flex with another fifteen hundred dollars of spending at 5x back that gives me a total of three thousand dollars of 5x spending per quarter now I think this is mostly going to be useful for families that spend a lot in those categories but probably not someone like me with low spending to begin with so if you're buying groceries for a family of five and grocery stores or one of those rotating 5x categories in a quarter you might be spending over fifteen hundred dollars per quarter so having two Freedom Flex cards can help you to maximize your earnings also another downgrade option you could do instead of the freedom Flex is that Chase Freedom Card which also earns 5x back in those rotating categories now the freedom Flex replaced the original Chase Freedom Card back in 2020 and Chase gave the flex a few better ways to earn points like 5x back on travel both through Chase and 3X back on dining and drug stores which the original Freedom didn't have but one of the key differences and reasons to downgrade to the freedom instead of the freedom Flex is that the freedom is a Visa card but the freedom Flex is a a MasterCard so I have both the freedom and freedom flex but when one of those rotating 5x categories on these cards becomes wholesale clubs I can't use my Flex at Costco because Costco doesn't accept MasterCards but I can use my freedom Visa card there the same thing applies if gas is one of those 5x categories and you get your gas from Costco you'd only be able to take advantage of that with the Freedom Card and not the freedom Flex now if you want to have multiple Freedom Flex or Freedom cards then you might want to apply for your first one separately before downgrading a Sapphire card to get the second and that's just because Chase has the wording on their website that says this product is available to you if you do not have this card and have not received a new card member bonus for this card in the past 24 months so if you downgrade the sapphire prefer to the freedom Flex then you'll have the freedom flex and can't apply for a second one as a new application according to these rules and if any of that sounds confusing because I know it was for me just go join the Credit Community Discord that Mark plymail and I have where you can go ahead and ask any questions and get some help from some great community members so I'll have a link down below for that too all right now for tip number five this is something that helped me to get approved for a new Chase credit card when I got the world of hide card just the other week and that is moving credit limits between cards so when I applied for this Chase Hyatt card I knew that the total credit that chase had extended me was somewhere close to roughly half of my reported income that I put on my applications so I also knew that they might not want to extend me any more credit at least for right now but I applied anyway knowing that I could always move around some of the credit if I needed to and sure enough instead of being approved I got a screen that basically said in order to get this Hyatt card I had to transfer some of my existing credit from another card to this new one so I took most of my credit from my older Chase Freedom Card that honestly I don't use that much anymore I moved it over to the Hyatt card and then I was approved now you can also just call Chase before applying to ask if you could decrease certain credit limits that you don't really need because then that might increase your odds of automatic approval the first time but honestly I think applying the way I did is the way to go because Chase is either going to approve you instantly and give you more credit they're going to ask you if you can move around credit or they'll deny you for some other reason so for me this was just the e easy way to go and it worked out just fine and also if I ever wanted to move around credit again I could just call up Chase and do that too so there's some good flexibility with this then for tip number six this is one of my favorites for getting more value from Chase credit cards in a super easy way and that is adding Chase offers and adding them all at once so like many credit card issuers Chase gives customers special offers from time to time for a lot of useful things that are great for saving money now if we log into our Chase accounts we'll be able to see these offers and they'll vary from card to card but in general I've seen things like 10 back at Giant which is the grocery store that I go to 10 back at Best Buy Amazon and places like that so as long as you're planning on spending money at these places then adding these offers is basically like free money back into your pocket now what I like to use is an app and a browser extension called card pointers that I mentioned before and I've talked about in some previous videos and with card pointers I can add all these offers at once with the click of a button now this feature is available for free and like I said I also track my Chase 524 status in the app and it tells me what credit card to use for different things so that way I can optimize my spending so yeah definitely a great app an extension that I recommend there's a ton of other features in both the free and paid version so I'll leave a discounted link Down Below in the description if you want to check that out but however you add those Chase offers to your cards just keep track of them so you can use them and get extra value because I know this offers have been worth a lot to me now by far the best way to get the most value out of your Chase credit cards is by maximizing your chase points because I see so many people redeeming them the wrong way and actually losing money so make sure that next you check out this video over here which is a full guide to redeeming chase points that I put together because that is going to have all you need to know but as always thank you so much for watching and I'll see you in the next one

Channel: Daniel Braun

Views: 6,861

Keywords: chase credit cards, chase, credit card, credit cards, chase credit card tips, chase credit cards 2022, how to get chase credit cards, chase sapphire preferred, chase sapphire preferred card, chase sapphire reserve, chase sapphire reserve card, chase freedom flex, chase freedom flex card, chase freedom unlimited, chase freedom unlimited card, chase sapphire, chase ultimate rewards, chase ultimate reward points, ultimate reward points, chase trifecta, daniel braun

Id: hSXk6W1Chfg

Length: 14min 36sec (876 seconds)

Published: Mon Sep 26 2022