Help needed with Chase Freedom vs. AmEx Blue Cash

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mediahound
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Help needed with Chase Freedom vs. AmEx Blue Cash

Postby mediahound » Mon Jan 17, 2011 1:24 pm

Hi,

I have both the Chase Freedom and the American Express Blue Cash.

I'm grandfathered in with the Chase Freedom for now with 3% cash back on 3 popular categories and 1% cash back on everything else with a $250. check sent when I reach $200 in rewards. I think that's basically equivalent to 1.25% cash back on everything else.

I've heard Chase may take me off this program soon although I suspected they would do that last year and I got by the entire year with no changes made to my account. (When they introduced their Sapphire program, I contacted them to opt out and said I didn't want to change anything.)

My questions is, should I switch to the AmEx Blue Cash? My year is about to renew on that card. I much prefer AmEx for customer service but want to get the maximum cash back.

I spend about $30k a year on credit cards and try to run all my purchase through a cash rebate card.

Any thoughts?


jeffysdad
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Postby jeffysdad » Mon Jan 17, 2011 6:54 pm

If you spend a lot at restaurants, look at Citi Forward; it pays 5% back on restaurant spending all year.

Use the calculator on Amex site to figure out how much you would make using Blue Cash. I just did it using spending of $200/mo. on gasoline, $500/mo. on groceries and $70/mo. at drugstores as well as $1730/mo. on everything else (that's 30k/year) and I came up with a rebate of $607.

With Chase Freedom's new plan, you could make a maximum of $300 bonus cashback assuming you spent $1,500 every quarter (which is the cap) in their bonus categories, plus you would have to add in the 1% you would make on everything else. If you spent the rest of your $30k on the Freedom card, your total cash back for a year would be $540; that would be the best you could do assuming you spent only $30k.

If you spend $30,000 a year on Fidelity Amex you would make $600.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

mediahound
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Postby mediahound » Mon Jan 17, 2011 7:06 pm

Thanks.

I got at least 3 $250. checks from Chase last year, probably because I sometimes use their rewardsplus shopping website for additional cashback. But, I've not been too happy with Chase's customer service so I'm thinking I may just switch to AmEx Blue Cash.

(Twice last year, Chase forced a fraud cancelation on my Freedom card and they were for my own charges, not fraud). They had to change my number and it was a hassle. Conveniently, both times this happened was right after I received a rebate check. This has not actually happened to me 3 times. Very suspicious.

jeffysdad
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Postby jeffysdad » Tue Jan 18, 2011 6:44 am

Those fraud alerts would make me switch, too. That's why I dropped Citi. In the above calculation I forgot to add the $50 bonus (20%) for redemptions of $200 in cashback rewards under the old program. My Freedom card switched to the new scheme late last year, btw.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

CCG
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Postby CCG » Tue Jan 18, 2011 9:13 pm

Below you will find my sponsored reviews for some of the cards mentioned above:

2013 American Express Blue Cash review
2013 Chase Freedom review

Hope this helps!

-CreditCardGuru

khaos
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Help in choosing my first credit card

Postby khaos » Thu Oct 20, 2011 4:15 am

[font=Trebuchet MS][size=80]
Hey Everyone!
I need help choosing my first credit card. I am 24 and I don't really have much of a credit history but I currently do have a debit card with BOA that I have been using a lot since the past 5 years. I also pay for rent & utilities which I hear go towards your credit in a small way.

I am considering one of two cards, either the American Express Blue Cash Everyday/Preferred OR Chase Freedom. I keep getting Chase's cards in my mail box so I am assuming I would be approved for this card although I am edging towards the Amex card because I feel the cash rewards that don't rotate in categories fits me better. My question here is that my income is $40k, so considering my background can anybody give me an idea on what sort of credit limit range can I expect from both cards or if Amex will even approve me in the first place.

Look forward to your replies.
Thanks



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FutureBillionaire
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Postby FutureBillionaire » Thu Oct 20, 2011 7:17 pm

I'm leery about using Citi and Chase. I may just try out that Fidelity Card. I love Discover. They quickly give you your cash back with no hassle. You can redeem small amounts too.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

khaos
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Postby khaos » Thu Oct 20, 2011 11:13 pm

khaos wrote:
Hey Everyone!
I need help choosing my first credit card. I am 24 and I don't really have much of a credit history but I currently do have a debit card with BOA that I have been using a lot since the past 5 years. I also pay for rent & utilities which I hear go towards your credit in a small way.

I am considering one of two cards, either the American Express Blue Cash Everyday/Preferred OR Chase Freedom. I keep getting Chase's cards in my mail box so I am assuming I would be approved for this card although I am edging towards the Amex card because I feel the cash rewards that don't rotate in categories fits me better. My question here is that my income is $40k, so considering my background can anybody give me an idea on what sort of credit limit range can I expect from both cards or if Amex will even approve me in the first place.

Look forward to your replies.
Thanks


To give you guys an update, I applied for the American Express Blue Cash Everyday card today through the phone, everything went through and then they asked me to fax them a IRS 4506t form & I won't get fully approved until I do that. They said they need it in order to verify my income as I don't have any bad credit but I don't really have a credit history. I am on the fence about faxing them a document that would enable them to my personal information, but then again I was just wondering if anybody else had to do this and if this is common.

Dues
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Postby Dues » Sun Oct 23, 2011 8:48 pm

@khaos

I just recently app'd for and got those exact same 2 cards. 2k CL on amex and 3k CL on Freedom ~ this is with a ~770 experian score but, like you, I have a young credit history so I think that's why these limits weren't higher.

If you have any specific details you're curious about feel free to PM me.

khaos
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Postby khaos » Mon Oct 24, 2011 1:52 pm

ryanp wrote:@khaos

I just recently app'd for and got those exact same 2 cards. 2k CL on amex and 3k CL on Freedom ~ this is with a ~770 experian score but, like you, I have a young credit history so I think that's why these limits weren't higher.

If you have any specific details you're curious about feel free to PM me.


Hey RyanP,

Well Amex is still in the process of verifying my 4506t form, they said it takes 48 hours to verify the documentation & then they'll make a decision. The process has been a very long and drawn out one since their systems were down on Friday. Hopefully the wait would be worth it & I get approved for the card with a decent credit limit. Otherwise my only other options are the Chase Freedom or I would have to venture out into the world of credit unions.



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