New Chase "Profit" card

Chase has a new rebate card called "profit". Link

Features:

- 3% back on gas OR groceries OR resteraunts
- Appears to be a tiered rebate on everything else up to 1% cash back
- You can change what category you receive 3% back on at any time (although I don't know if that means any billing period or if you could do it each day depending on if you are buying gas or not)
- No limits
- No anual fee

Seems like it could be a bit better card than their perfect card. Any thoughts?

Link

Sorry about the links, they are fixed now

try this Link

TruthTeller said: pheta said: Appears to be a tiered rebate on everything else up to 1% cash back
Not exactly. It's 0.5% if you don't revolve a balance of at least $500, 1% if you do.


I must be blind....where did you see this information? I clicked on their Credit Card disclosures page and see the APR, annual fee etc but only reference I see to reward info is that it will be provided with the actual card.

That should be the restaurant card and back-up for Citi/Discover Gas/AAA

This seems to be a really good restaurant cash rebate card; anyone know of any other cards that give 3% for restaurant purchases?

Also, does the 'revolving balance' mean a month-to-month balance of $500+, or just that at least $500 was charged on the card per billing period? If I don't keep a balance, am I stuck with 3% special categories + 0.5% all else?

Thanks for any insight.

Applied for this card...

Citi Platinum Dividend Card for 5% back on groceries, gas and pharmacy up to $300 a year.
Chase Profit Card for 3% back on restaurants.
and finally the Chase Freedom card use for 1% back on everything else.

fasteddie said: Thanks for posting! 3% is definitely worth it for restaurants for me at least!

What do you define as "worth it"? I spend about $250/month at restaurants and i'm not going to bother.

nice find op,
It turns out that "Perfect card" is not perfect anymore, will try to convert my Perfect card to Profit card.

famewolf said: I'd keep both the freedom AND the profit card..not convert it...the profit card is NOT a flat 1% card....it's up to 1% if you maintain a balance and it appears it's either 3% back on groceries OR 3 % back on gas OR 3 % back on restaurants OR up to 1% back on everything...so for me makes more sense to use both.

The profit card really only makes sense as a restaurant only card and since the credit is applied to your next months statement it's free money. To the person who spends $250 a month on restaurants....if you want to throw away $90 a year in free money I suppose thats your choice. (250*12=3000*.03=90)

Although if Zon already has a 1% card, it's only $60. Still free money is free money. I'm going to do it.

LongDongSilver said: It's a good supplement to Perfect Card if you buy a lot of groceries or dine out a lot since you are getting 3% on gas anyway with Perfect Card.
I get 5% on gas with discover and 5% on groceries with citi, therefore the perfect card is only good for 1% cash back, unless a small local store where you shop accidentally is being treated as a gas purchase(but still 3% on grocery is not as good as 5% from citi)

Update: corrected the typo...

I will definitely convert Perfect Card, not "keep both". First of all, Chase has the worst online system and I will use it only if there is no better deal in the particular category as here for restaurants. Chase is too often misleading (like Double Platinum Reward (?) card), ignorant (as in case of gift cards). I am sure other banks will start compete Chase in the restaurant category - then Chase will be placed to the appropriate place in my list - 0% BT But even there they tried to cheat me sending the statement to wrong address and trying to impose the fees...

Edit: Also, Perfect Card is not free unless you make nn purchases. Also, my Patelco MC 1% w/o limit is more reliable, doesn't have overlimit fee, which Chase again tried to collect together with finance charges and late fees in the same case of sending statement to wrong address

fotomaniak said: LongDongSilver said: It's a good supplement to Perfect Card if you buy a lot of groceries or dine out a lot since you are getting 3% on gas anyway with Perfect Card.
I get 5% on gas with discover and 5% on groceries with discover, therefore the perfect card is only good for 1% cash back, unless a small local store where you shop accidentally is being treated as a gas purchase(but still 3% on grocery is not as good as 5% from citi)

True but not many places take Discover.

Just got an email from chase, approved and you can view CL in on the status page at status page

fotomaniak,
can you please tell me about getting 5% back on groceries using Discover? I thought the promo(10%)ended on June 30.

Thanks, Hina

LongDongSilver said: fotomaniak said: LongDongSilver said: It's a good supplement to Perfect Card if you buy a lot of groceries or dine out a lot since you are getting 3% on gas anyway with Perfect Card.
I get 5% on gas with discover and 5% on groceries with citi, therefore the perfect card is only good for 1% cash back, unless a small local store where you shop accidentally is being treated as a gas purchase(but still 3% on grocery is not as good as 5% from citi)

True but not many places take Discover.

all gas stations and supermarkets do.

Citi Dividend or AT&T Universal is better for Gas or Groceries (5%), however for dining, this may be a good card if you dine at non-i*dine participating merchants. If you do, the Chase PerfectCard gives you 10% back for i*dine dining.


So in summary I think this is a good card, but now you have to keep track of whether the place your eating at is i*Dine or not .

I tried to convert my freedom card to a profit card, but the representative said no.
BTW, is fast food restaurant like Wendy's is considered to be restaurant purchase?

longwood8 said: I already have one card for gas (discover), one for groceries (citi dividend), one for home improvement (AMEX), one for toys r us (guess) and one for general (citi drivers edge)

My wife will kill me if I get this one

Got pants?

longwood8 said: My wife will kill me if I get this one
Why do you tell your wife what credit cards you have? Keep you personal business to yourself.

EugeneV said: Great advise! Find a girlfriend to have an affair with as you are at it - it doesn't get more personal than that, huh?
There's a big difference between maintaining an independent identity and having an affair.

pheta said: I called a CSR to find out why it wouldn't let me pay online or see my statements online with the profit card but I could with the perfect card and I got a BS answer that basically amounted to "I don't know I have nothing to do with that." However I can make a phone payment for $14.95 =)

I finally just entered the bill address into the bill website and sent a payment. Oh well.
pay attention. Chase will print a real check with your credit info, bank info, and send it to itself. It takes at least one week for the payment to be posted to your account.

When I talked with CSR, she asked to do exactly what I did to setup online statement, and asked me to wait for one month to let it go through. But the next day my online statement request is denied. Chase is impressive!