Chase freedom quarter - should I just buy a bunch of gift cards?

If you pay it off quickly enough (ideally within 1 statement) so that the 5% bonus is more than the interest, then it's a net gain. And as you say, groceries will be bought either way, so it's something that will get used.

As far as I know, Chase won't do anything, you're within the terms of use. I know a few people do this and stock up with Amazon gift cards when Amazon is one of the 5% bonuses. If you're able to front the money I don't see a reason not to do it.

Chase is pretty quick at terminating customers for abusing the rewards. I think you'll be safe on this though, just keep that in mind and pay it off fully.

Also try to add something in so you aren't buying an even dollar amount otherwise it will look suspicious
$486.72 > $400.00

Many grocery stores carry gas cards. Maybe a little late now since next Q is 5% on gas for both chase and discover (I'll be more than covered), but you could buy a couple gas cards at the grocery store.

Quote from therapyreject : If you pay it off quickly enough (ideally within 1 statement) so that the 5% bonus is more than the interest, then it's a net gain. And as you say, groceries will be bought either way, so it's something that will get used. As far as I know, Chase won't do anything, you're within the terms of use. I know a few people do this and stock up with Amazon gift cards when Amazon is one of the 5% bonuses. If you're able to front the money I don't see a reason not to do it.

What I do is buy the GCs that I need. The rest I buy in store gift cards (Ralphs, Albertsons, Vons). My thinking is that sooner or later I will use them for food OR atleast at the stores by me you can buy GCs with a GC!

So for example, I have a $300 Albertsons GC. 3 months goes by and I need something from Amazon. I just go in to Albertsons plop down three $100 Amazon GCs and pay with my $300 Albertsons GC

Problem solved!

The real problem I see is going to be this quarter. I don't spend $1,500 a quarter on gas or restaurants and as the Mrs. has the same card I don't think we'll be able to max it out Even with buying gas GCs from the gas station I don't think we'll be able to max it out as I don't want like $2k in gas GCs in the safe!

But like the other guy said, just to avoid any suspicion buy a couple other things as well so it isn't a nice round #.