How to Get the Most Out of the Chase 2 Cash Back Card

The Chase 2 cash back card is a popular choice for those looking to earn rewards on their everyday purchases. It offers a 2% cash back on purchases in your first year up to $20,000 spent, and 1% cash back on all other purchases.

To get the most out of this card, it's essential to maximize your earnings within the first year. This means spending up to $20,000 in the first 12 months to earn the 2% cash back bonus.

You can also take advantage of the card's purchase protection and return policy, which allows you to return items within 90 days of purchase or get a refund for items that are damaged or stolen.

The Chase Freedom Unlimited card is a solid choice for anyone looking for a no-annual-fee rewards credit card with great benefits. It already offers above-average earning potential, but the latest bonus offer takes it to the next level.

You'll earn an additional 1.5% cash back up to $20,000 of spending during the first year of card membership. This bonus gives you a significant boost to your earnings, making it a great time to sign up.

Here's what you'll get for that first year:

To put this into perspective, let's say you spend an average of $300 per month on travel, $350 per month on dining, and $1,000 per month on all other expenses. That totals up to $19,800, just under the maximum bonus level.

Your standard cash back for these expenditures would be $46.97/month—$563.64/year. But with the bonus welcome reward, you'd earn $783 for that first year, an additional $219.36.

Here are the regular rates you'll earn after the first year (or $20,000 of spending):

You can receive your rewards as a statement credit or a direct deposit into most U.S checking and savings accounts.

The Chase 2 cash back card has a range of features that make it an attractive option for everyday use. It offers a 0% intro APR for 15 months on purchases and balance transfers.

The card also has a variable APR of 19.74% - 28.49%. This is a standard range for cash back credit cards.

Here are some key features of the Chase 2 cash back card:

The card can be a large earner for cardmembers who want to get the most out of their everyday spending, especially when combined with other rewards cards from Chase.

There are three main types of cash back credit cards: flat-rate earnings cards, rotating category cards, and tiered cash back cards.

Flat-rate earnings cards offer the same cash back rate on all purchases, regardless of the category. For example, the Chase Freedom Flex credit card offers 1% cash back on all other purchases.

Rotating category cards offer a higher cash back rate on specific categories that change each quarter. The Chase Freedom Flex credit card, for instance, offers 5% cash back on up to $1,500 in combined purchases in bonus categories like gas stations, grocery stores, and select online merchants, each quarter you activate.

Recommended read: Flat Rate Cash Back Credit Cards

Tiered cash back cards offer varying cash back percentages on different spending categories. For example, a card might offer 3% cash back at grocery stores, 2% cash back at drug stores, and 1% cash back on all other purchases.

Here are some key characteristics of each type of card:

Ultimately, the best type of cash back credit card for you will depend on your individual spending habits and preferences.

Chase Pay Over Time lets eligible Chase customers break up credit card purchases into budget-friendly payments.

There are two potential ways to pay over time: after purchase and at checkout.

After purchase, you can pay off an eligible purchase you've already made of $100 or more in smaller, equal monthly payments.

No interest is charged, just a fixed monthly fee with plan durations that range from 3-24 months.

At checkout, you may have the option to create a payment plan on Amazon.com for orders totaling $50 or more.

You'll be able to view Chase Pay Over Time plan options, including the fixed APR and durations, at checkout.

Keep in mind that access to Chase Pay Over Time is not guaranteed, even with an eligible card.

See what others are reading: What Is My Chase Plan

The Chase 2 cash back card offers some amazing rewards and earning potential. You can earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, then 1% cash back.

Here are the common cash back rewards categories you can expect to find: gas stations, travel, grocery stores, dining at restaurants, drug stores, and streaming services.

One of the best features of the Chase 2 cash back card is its flexibility - you can earn unlimited 1.5% cash back on all purchases, with higher earning rates on select categories like dining and travel.

Here's a breakdown of the earning rates:

Rewards are a key feature of many credit cards, and understanding how they work can help you maximize your earnings. You can earn cash back rewards on various categories, such as travel, dining, and drugstores.

Some credit cards offer rotating cash back categories that change every quarter. For example, the Chase Freedom Flex℠ card offers 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, then 1% cash back on all other purchases.

Recommended read: Bank of America Travel Rewards Credit Card for Students

You can also earn cash back on specific categories, like travel booked through Chase Travel℠, which offers 5% cash back. Additionally, some credit cards offer higher cash back rates on certain categories, such as 3% back on drugstore purchases and dining.

Here are some common cash back rewards categories:

Some credit cards also offer bonus categories that change throughout the year. For example, the Chase Freedom cash-back calendar for 2024 includes categories like grocery stores, hotel stays, and gas stations.

You can earn a significant amount of cash back by maximizing your spending in these categories. For example, if you spend up to $1,500 in bonus categories each quarter, you could earn $75 cash back each quarter on top of the 1% cash back you earn in all the other categories.

For your interest: 1 2 Divided

You can earn 5% cash back on Lyft rides through March 31, 2025. This is a great opportunity to save some money on your transportation costs.

The 5% cash back offer is in addition to the 1.5% cash back you already earn on Lyft rides.

Recommended read: Apple Card 5 Cash Back

You can redeem your cash back rewards with the Chase 2 cash back card in several ways. There is no minimum to redeem for cash back, so you can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts.

You can use your cash back rewards to help reduce your credit card balance by applying them as a statement credit. This can be a great way to pay off your balance and earn even more cash back.

Cash back rewards can also be redeemed via direct deposit into your preferred bank account. This is a convenient option that allows you to have your cash back rewards deposited directly into your account.

You can also redeem your cash back rewards for gift cards, although you'll want to check back monthly for discounts on select gift cards. This can be a fun way to use your rewards, but make sure to check for any discounts before making a purchase.

Additional reading: Where Can I Put Cash onto My Debit Card

Here are the redemption options available with the Chase 2 cash back card:

Keep in mind that you may have additional redemption options available depending on your specific credit card agreement. Be sure to read your agreement to see what options are available to you.

The fees and charges associated with the Chase 2 Cash Back Card are relatively straightforward. There is a balance transfer fee of up to 5% on future balance transfers.

The balance transfer fee is 3% intro, which is a one-time fee. Note that this fee may be higher than what you'd expect, so be sure to factor it into your decision.

The standard variable purchase APR is 17.49% - 26.49%, which is a relatively high rate. This means that if you don't pay off your balance in full each month, you'll be charged interest on your purchases.

Curious to learn more? Check out: Wells Fargo Active Cash Card Cash Advance Fee

APR is a significant factor to consider when choosing a credit card. The APR can vary depending on the card issuer and the terms of the account.

On a similar theme: 0 Apr Visa Credit Cards

The intro APR is 0% for 15 months from account opening on purchases and balance transfers. This means you won't be charged interest on new purchases and balance transfers during this period.

After the intro period, the APR becomes variable, ranging between 19.74% Min. of (7.75+11.99) and 29.99%–28.49Min. of (7.75+20.74) and 29.99%. This means your interest rate could be higher than the initial rate.

A balance transfer fee applies, so be sure to check the pricing and terms for more details. This fee can add to your overall cost, so it's essential to factor it into your decision.

Explore further: High Limit Balance Transfer Credit Cards

With Zero Liability Protection, you won't be held responsible for unauthorized charges made with your card or account information.

This means that if someone else gets a hold of your card or account details and makes a purchase without your permission, you won't be on the hook for it.

Readers also liked: How to Link Chase Business Credit Card to Personal Account

The balance transfer fee is an important consideration when deciding whether to transfer a balance to a new credit card. It's a fee charged by the credit card issuer for allowing you to transfer a balance from another credit card.

The balance transfer fee for this card is 3% intro balance transfer fee, with a higher fee of up to 5% on future balance transfers. This means you'll pay a fee of 3% of the transferred balance when you first transfer it, and potentially a higher fee if you make future balance transfers.

To give you a better idea of how this fee works, let's break it down:

It's worth noting that this fee is just one of the many factors to consider when deciding whether to transfer a balance to a new credit card. Be sure to carefully review the terms and conditions of the card before making a decision.