Your Chase Freedom points don’t expire. The only way you can lose them is if you close your account (or Chase does it for you because of missed bill payments). That applies to all Chase rewards cards, by the way. But even though you can keep your Chase Freedom points indefinitely, it’s still a good idea to redeem them often. You don’t want to forget to use them, and you do want to avoid rewards devauation. But before getting into devaluation, let’s cover the specifics of point loss. Chase gives five different conditions where this can happen.
These are the reasons you might lose Chase Freedom Points:
You close your own account without redeeming them
Chase closes your account because you
Abused the reward system
Failed to pay even your minimum payment
So, you have to basically be doing something really wrong to lose your points. Otherwise, you can accumulate as many as you want. But it’s best for you to redeem your points frequently. Because the rewards aren’t proper cash back, it’s possible for Chase to devalue them. For example, they could say that rather than 1 cent per point, the new rate is 0.8 cents per point, and you’d suddenly have 20% less value. So it’s always best to be careful and redeem often.
The best credit card for gas and groceries is the Blue Cash Preferred Card from American Express. There’s no annual fee, and you’ll earn $200 back for spending $1,000 during your first three months of card membership. You also get 6% cash back on $6,000 spent at supermarkets per year, 3% at gas stations and eligible department stores, and 1% everywhere else.… read full answer
And if you shop online or at wholesale clubs, the Amazon and Costco credit cards are both strong options. The Amazon Visa offers 5% back at Whole Foods for Prime members (3% if you don’t have Prime), and 2% on gas. With the Costco Visa, you’ll get 2% back at Costco and 4% back at gas stations. But if none of those are quite right for you, there are other options available.
Here are the best credit cards for gas and groceries:
Blue Cash Preferred Card from American Express: 6% back on $6,000 spent on groceries per year, and 3% back on gas. No annual fee. $200 for spending $1,000 within three months of opening your account. 3% back at eligible department stores, 1% everywhere else. Excellent credit required.
Costco Anywhere Visa: 2% back at Costco, and 4% back on gas. No annual fee, but the card is only available to people with a Costco membership, which costs $60+. 3% on restaurant and travel purchases, 2% at Costco and Costco.com and 1% everywhere else. Excellent credit required.
Amazon Visa Credit Card: 5% back at Whole Foods for Prime members (3% otherwise), and 2% back on gas. No annual fee, but Prime costs $99 a year. 5 points per $1 at Amazon.com for Prime members (3 for non-members), and 1 point per $1 everywhere else. $50 Amazon gift card when you get approved. Good credit required.
PenFed Platinum Rewards Visa Signature Credit Card: 5% back on gas, and 3% back on groceries. No annual fee. $100 statement credit for spending $1,500 in your first 90 days. 1% back everywhere else. Excellent credit required. Anyone can join PenFed with a one-time $17 donation.
SunTrust Cash Rewards Credit Card: 5% back on $6,000 in gas and groceries the first 12 months. 2% back on gas and groceries after that. No annual fee. 1% back on all other purchases. Excellent credit required.
The best credit card for gas and groceries is Amex Blue Cash Preferred. But since gas and groceries are some of the most common expenses, it’s a popular combination, and there are options for every credit level. For example, Capital One QuicksilverOne is good for limited credit. And the SunTrust Secured Credit Card works for folks with bad credit.
Walmart is not considered a grocery store for credit cards. Major credit card networks assign a specific merchant category code (MCC) to purchases made at traditional grocery stores. This code doesn’t include “big-box” retailers like Walmart or Target because they sell a lot more than groceries. But Walmart Neighborhood Markets are considered grocery stores for credit cards since they sell groceries exclusively.… read full answer
If you want to earn bonus rewards on groceries purchased at Walmart, consider the Walmart Store Card. It offers 3% cash back on walmart.com purchases, including grocery pickup. The card also gives 2% cash back on Walmart and Murphy USA gas purchases. All in-store purchases, including groceries, yield 1% cash back.
No, if your account is current. If you plan to close it, just transfer or redeem them.
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