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Chase Freedom - Q1 is ending - forward pay your bills

403 166 March 24, 2020 at 10:46 PM in Services
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Last Edited by PrincipalMember March 24, 2020 at 10:52 PM
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New thread so that this trick is not lost in the noise. See the thread here about Chase Q1 categories.

https://slickdeals.net/f/13798331-multiple-chase-cc-5-cb-on-utilities-insurance-internet-and-phone-bills-until-3-30-possibly-targeted?v=1&src=SiteSearch

The trick here is to forward pay your bills - go to your internet/phone/cable providers and pay for the next 4 months. Do it before the quarter ends. Make sure that you don't exceed $1500 for the 5% category spend - because amount above $1500 won't get you the 5%. [$1500 includes what you have already charged in the categories].

Since we are near the end of the month, hopefully Chase has already generated the statement for this month - at least that is true in my case. So what you charge now will be billed in the next month and then due another 27 days later. So you even though forward paying for 4 months, we are not paying a dime until almost 45 days later.

In return for forward paying, you get 5% return on your money for 3-4 months. That return is non-taxable. This is a better rate of return than you will get at any bank and it just takes a few clicks!
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#2
Why 4 months? Is it the max that most providers will accept? I plan to forward pay my AT&T and Verizon bills, anyone know what's the max I can pay? (Haven't spent much on this card)
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#3
So on my Verizon bill I get a $10 monthly discount for being on autopay from a debit card. I know if I pay with a credit card I lose this discount until a debit card is reestablished as the main payment source. I'm wondering if I prepay $1500 on my Chase Freedom, will I lose that $10 discount for 1 month, or every month until that $1500 credit is used up? I feel like the only way someone would know would be from experience. I'm guessing if I call and ask Verizon customer care they'll have no idea and take a guess (which isn't really helpful unless I can get it in writing and get a credit afterwards if they say one-time loss of the discount and they're wrong).
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Last edited by madrascaldavid March 25, 2020 at 07:50 AM.
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#4
Quote from takuarc
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Why 4 months? Is it the max that most providers will accept? I plan to forward pay my AT&T and Verizon bills, anyone know what's the max I can pay? (Haven't spent much on this card)
I said 4-months - good balance between earning 5% and how much cash you lay out. But feel free to max out to $1500 - rate of return is still better than any safe instrument in the market.
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#5
Quote from madrascaldavid
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So on my Verizon bill I get a $10 monthly discount for being on autopay from a debit card. I know if I pay with a credit card I lose this discount until a debit card is reestablished as the main payment source. I'm wondering if I prepay $1500 on my Chase Freedom, will I lose that $10 discount for 1 month, or every month until that $1500 credit is used up? I feel like the only way someone would know would be from experience. I'm guessing if I call and ask Verizon customer care they'll have no idea and take a guess (which isn't really helpful unless I can get it in writing and get a credit afterwards if they say one-time loss of the discount and they're wrong).
Yeah - you might lose this discount. I wouldn't tempt it.
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#6
Quote from PrincipalMember
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I said 4-months - good balance between earning 5% and how much cash you lay out. But feel free to max out to $1500 - rate of return is still better than any safe instrument in the market.
I had already charged $350'ish for 2 months. Paid $200 to comcast, $200 to Dish and $400 to T-mobile (5 months). So got most of the $1500 used up.
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#7
So I (pre) paid $1500 on my Verizon Wireless bill to get the $75 CB. The Verizon care agent said if I switch my debit card back to the main card on file for autopay I won't lose my $10/month discount, even if it's deducting from money that was paid via a credit card. Thank you OP for the heads up!
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#8
I went into my account at CenturyLink to pay ahead and they want to charge me $3.50 to do this, but for some reason I don't get charged with AutoPay from my credit card?? Oh well.
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Quote from cacadiablo
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I went into my account at CenturyLink to pay ahead and they want to charge me $3.50 to do this, but for some reason I don't get charged with AutoPay from my credit card?? Oh well.
You have to look at the big picture. If you are prepaying $700, you make $21 extra compared to a 2% card. I would lose $3.50 to earn $21 any day.

My electric provider charges me a $1.60 fee for credit card - so I always pay $800 and get 2% back.
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Quote from PrincipalMember
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You have to look at the big picture. If you are prepaying $700, you make $21 extra compared to a 2% card. I would lose $3.50 to earn $21 any day.

My electric provider charges me a $1.60 fee for credit card - so I always pay $800 and get 2% back.
Good point.
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