Yes, you can buy gift cards with Chase Freedom points, at a rate of 1 cent per point. You can only redeem for certain gift card denominations, such as 2,500 points for a $25 gift card. But Chase sometimes offers discounts on select gift cards, so you can get even more value than 1 cent per point. To redeem your Chase Freedom points for gift cards, log in to your Chase account on the Ultimate Rewards website, click “Earn/Use” and then select “Gift Cards” to start browsing.
You can also buy gift cards with your Chase Freedom card by making a normal purchase from a merchant. Some popular retailers that allow shoppers to buy gift cards with a credit card include Target, Amazon, Walmart and CVS. Some other stores may not allow it because of fraud concerns, so before trying to buy gift cards with Chase Freedom, be sure to ask a cashier or the help desk if it’s possible (or at least bring a backup payment method).
This information is accurate as of the date of posting.
By all accounts, you will not be able to obtain a Chase-branded credit card if you’ve opened five or more credit card accounts — from any issuer — in the past 24 months, including co-branded cards such as those affiliated with airlines or hotel chains. In fact, Chase is credited with not only popularizing this so-called 5/24 rule, but actually creating it. So while you might not see this policy spelled out in a Chase card’s terms, as Chase has posted and subsequently removed such language in the past, it would be unwise to gamble on it not being in effect.… read full answer
While this unofficial policy might at first be frustrating, it’s important to recognize that it could ultimately be to your benefit. Too many credit card applications within a short period can damage your credit standing enough to cause rejection even without an account limit in place. It simply signals a desperation for credit that issuers’ underwriting algorithms equate with greater risk.
Besides, even if you’re employing the Island Approach, five cards is plenty. You could, for example, get the best cash-back credit card on the market as well as the best travel rewards card, the best balance-transfer card and the best new-purchase financing card, and still have room for your favorite retailer’s store card. You can learn more about how to identify your ideal number of credit cards in this guide, and you can check your credit score for free to better target your applications.
You can buy gift cards with a credit card at some retailers but not others. For example, you can buy gift cards with a credit card at Walmart, Target and Amazon.com but not at Giant or Harris Teeter. Many stores don’t allow it because buying gift cards with counterfeit or stolen credit cards is a common practice. On that note, you may earn rewards when buying gift cards with a credit card, but if you use the money from those same gift cards to pay your credit card bill, you could lose your account due to rewards abuse.… read full answer
Here’s what you should know about buying gift cards with a credit card:
A store may or may not allow it. It depends on how confident they are in their fraud protection.
Retailers where you can buy gift cards with your credit card include Amazon, Target, Walmart, The Home Depot, Walgreens, CVS, Simon Malls and GiftCards.com.
Some stores where you can’t buy gift cards with a credit card include Giant, Save Mart and Harris Teeter.
Your issuer may or may not let you earn rewards for gift card purchases. For example, gift cards aren’t eligible for rewards on any American Express cards. But if you do get rewards from gift cards, you can’t turn those gift cards into cash and use the money to pay your bill.
Many credit card rewards programs allow you to redeem your points or miles for gift cards, so that’s another avenue to get them with your credit card.
As more stores update their credit card security measures, you’ll probably see more and more places that let you buy gift cards with a credit card. But it’s always good to ask in-store before checking out, so you don’t end up being surprised.
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