Currently using chase ultimate freedom (1.5 percent back in points) but am considering 2percent cash back from BOA or others. Is the 0.5 percent extra worth it? I heard chase's points can go further

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Are you redeeming the chase points for cash or using them for travel? If for travel, you can absolutely stretch it’s value especially when you combine it with other chase cards (chase trifecta). Having a chase sapphire reserve will let your points be worth 1.5x more if you book travel on the chase travel site. If you’re just redeeming points for cash, the extra 0.5% will compound on the long run. My two cents? Redeem points for travel and never for cash.

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Appreciate the tips! I was thinking about accumulating chase points for travel.

Cash back is money in your pocket monthly. Points are saved up for future travel.

Which is more important for your lifestyle?

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How much work are you willing to do to maximize chase point value? 2% cash back is simple and easy to understand and redeem. Chase points are noticeably more complex to maximize value because you then get into an optimization game of either taking the easy 1.5% back now, or the possibility of a great travel redemption in the uncertain future.

If you're already the kind of person who is into loyalty program points maximization, stick with Chase. If you don't want to always be saving points and calculating if you should pay cash or use Chase points in the Chase portal or transfer Chase points to a partner and redeem there, go to BOA.

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Thanks! Appreciate your perspective!

If you get BOA’s preferred status with the highest tier, it’ll be 2.625% cash back for the everyday card. This is why I love my BOA’s credit cards. If you get the customized rewards, it’ll be 5.25% cash back on the category you select. There’s a category spending cap per quarter so I have multiple cards. Also, it auto deposits my cash back to my checking account when it hits $25. Saves me time and mental space.

Oooo my ira and brokerage are elsewhere so I may not qualify. Thank you though! I'll have to look into next tier cash reward programs too. Appreciate the idea!

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