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Do you have the Chase Freedom Flex Card? I’ll share with you how Kimbra, one of my trusted, avid travel friends, plan on maximizing the points earning potential with her card. Here’s what she wrote:
Drug Stores and Paypal
The Chase Freedom Flex Card earns a base rate of 3% when you use the card at drugstores. There’s an offer in the 4th Quarter of 2022 where you could earn 5% cash back when you use Paypal (linked with your Chase Freedom Flex Card). This will earn 7% total. (I know 3+5 = 8 but it is 1 base point plus the bonus). This is better than the 5% earning on Chase Ink Business Cash at office supplies stores which most people use to buy gift cards.
I will max the 4th Quarter bonus at CVS Pharmacy using my Freedom Flex by buying three $500 Visa Gift Cards. Each gift card comes with a $5.95 fee.
- $5.95 x 3 = $17.85 = 1.2% fee on $1500 total
- 7.0% – 1.2% = 5.8% earn
Is your Chase Freedom Flex loaded in your PayPal app?
Make sure that your Flex is loaded in your Paypal app as the primary payment for in-store payments. Use the Paypal Pay In-Store QR code in your app to pay at the CVS register. You will also need to have your ID scanned for gift card purchases of over $500.
Gift cards over $200 at CVS
I typically purchase Visa Gift Cards or Mastercard Gift Cards at Staples but the denomination is capped at $200 per gift card. This is a bit restrictive with some merchants. For instance, I couldn’t use the Staples $200 Mastercard or Visa Gift Card to pay DMV because both of my vehicle registrations were over $200 and the system doesn’t allow split payments. I also prefer making $500 tuition payments instead of the smaller $200 but I’m sure I will be loading those in too after I meet the 4th Quarter. bonus spend.
For me, I product changed a regular Chase Freedom, and a Chase Freedom Unlimited, and in exchange, I got two Chase Freedom Flex cards. My P2 will be doing the same.
Since the earn at CVS with the drugstore & Paypal bonus is 7%, if you need other items, Amazon gift cards, and other types of gift cards, you may find CVS as a good avenue.
What I learned from Kimbra
I tend to buy the $200 Visa Gift Cards and Mastercard Gift Cards. I’ve used them for bill pay (in-person and online). And yes, I have been in many situations where the merchant only accepted one card, one form of payment, so having access to a larger denomination card should help address that issue.
I have not used this strategy, but I’m so glad that she shared it. Now I could just use the same idea and apply this to the current Paypal offer and use it at CVS.
Thank you, Kimbra.