Tuesday, February 12, 2008

NYC Commuters: Save On Metrocards

As of March 2nd, MTA will be raising fares. Read the details here.

One of the changes are that they will no longer have the 20% offer: Buy a $10 card and get a $12 card. Instead they will only be have a 15% offer: Buy a $7 card and get a $8.05 card.

If you commute often, consider stocking up on prepaid Metrocards. If you buy them before March 2nd, you will get the 20% offer. You will still be able to you use the Metrocards after March 2nd. Metrocards expire after one year.

Note: The fare for a single ride is not changing, it is staying at $2.00

Even Better: Pay $1.50 per subway ride!

Chase Freedom Card (one of the best non-Amex, no annual-fee, cash-back cards out there) currently has a promotion: if you spend $150 on Metrocards or Yellow Cabs between Jan. 1st and March 30th , they will give you $10!
For every $150 spent you will get another $10!
This is in addition to the 3% cash-back you would be getting anyway.

To sign up for this promotion or to learn more click here.
To apply for the Chase Freedom Card click here.

For the mathematically inclined…
With this promotion you should end up paying about $1.50 for a subway ride! ($10 for 6 rides = $150 for 90 rides -3% (cash back) -$10 (promotion) = $135.50. $135.50/90 = $1.50 a ride.)
Now, if you wait till Chase owes you $200 dollars, they will give you $250. That makes it 3.75% cash back, which makes your subway ride about $1.49...

Note: Chase limits your 3% earnings to $18 a month. This does not affect the $10 promotion.


Bubby! said...

Great idea! Keep these tips coming.

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