Should I get Chase Freedom?

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Whatamuji
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Should I get Chase Freedom?

Postby Whatamuji » Sun Jun 14, 2015 8:13 am

I have the Discover IT card but would like to have access to the Ultimate Rewards Points that a Chase Freedom card offers. Would it be worthwhile for me to get one? Also does anyone know if you can transfer Chase points from an Amazon Rewards Card to an eligible Ultimate Rewards Card?
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k


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CarefulBuilder14
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Re: Should I get Chase Freedom?

Postby CarefulBuilder14 » Sun Jun 14, 2015 11:09 am

Whatamuji wrote:I have the Discover IT card but would like to have access to the Ultimate Rewards Points that a Chase Freedom card offers. Would it be worthwhile for me to get one? Also does anyone know if you can transfer Chase points from an Amazon Rewards Card to an eligible Ultimate Rewards Card?

Chase Amazon reward points cannot become URs. Freedom does occasionally have Amazon as a 5% category.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

Whatamuji
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Re: Should I get Chase Freedom?

Postby Whatamuji » Sun Jun 14, 2015 2:18 pm

That's kinda what I thought too. Glad somebody could confirm the Amazon points. Now my brain isn't working but if someone could answer this for me I'd really appreciate it. Which is the better deal Discover cashback or Chase's points when it come to redeeming Best Western gift cards? For reference: I usually spend $800.00 a month. Discover redeems a $50 gift card at $45 worth cashback. Chase offers $50 gift card for 3700 points.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

kdm31091
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Re: Should I get Chase Freedom?

Postby kdm31091 » Sun Jun 14, 2015 2:43 pm

I think they're too similar to warrant having both especially with your low spend

Vermonster
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Re: Should I get Chase Freedom?

Postby Vermonster » Sun Jun 14, 2015 5:08 pm

kdm31091 wrote:I think they're too similar to warrant having both especially with your low spend

Agreed. Pick one and maximize the rewards. The Freedom used to be a bit better with the extra 10% at the end of the year. Even if you could get that, the Discover "double cash back" for one year is so good that it would take you a decade to catch up to with the Freedom.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

kdm31091
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Re: Should I get Chase Freedom?

Postby kdm31091 » Sun Jun 14, 2015 6:24 pm

Vermonster wrote:
kdm31091 wrote:I think they're too similar to warrant having both especially with your low spend

Agreed. Pick one and maximize the rewards. The Freedom used to be a bit better with the extra 10% at the end of the year. Even if you could get that, the Discover "double cash back" for one year is so good that it would take you a decade to catch up to with the Freedom.


Yeah, OP...you don't need both. Your spend will not net you any significant gain for a very long time. You'll simply be splitting rewards between two cards.

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CarefulBuilder14
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Re: Should I get Chase Freedom?

Postby CarefulBuilder14 » Sun Jun 14, 2015 7:29 pm

OP's signature lists Chrome, not the regular IT. Chrome is 2% gas and dining, not 5% rotating (before the doubled rewards).

Regarding the regular IT and Freedom, though...

I find them different enough in their 5% categories and online shopping portals to keep both.

Neither has an annual fee, and unless you're heavily into a high-cpp travel rewards program (like United business flights), having a card that you can occasionally use for 5%+ cash is nice.

Were I in the OP's shoes, though, I'd think carefully before applying for my next card. The OP's current cards are all too similar, with too much in the way of overlapping rewards categories.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

Whatamuji
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Re: Should I get Chase Freedom?

Postby Whatamuji » Sun Jun 14, 2015 8:07 pm

For clarification my Discover card was originally a Discover Chrome but I had it changed to the 5% rotating categories. I will relist it as simply "Discover IT". And that is also my concern as well as I do have a lot of similar cards so other than just the 5% categories I wouldn't really use the Freedom Card.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

kdm31091
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Re: Should I get Chase Freedom?

Postby kdm31091 » Sun Jun 14, 2015 8:19 pm

CarefulBuilder14 wrote:OP's signature lists Chrome, not the regular IT. Chrome is 2% gas and dining, not 5% rotating (before the doubled rewards).

Regarding the regular IT and Freedom, though...

I find them different enough in their 5% categories and online shopping portals to keep both.

Neither has an annual fee, and unless you're heavily into a high-cpp travel rewards program (like United business flights), having a card that you can occasionally use for 5%+ cash is nice.

Were I in the OP's shoes, though, I'd think carefully before applying for my next card. The OP's current cards are all too similar, with too much in the way of overlapping rewards categories.


Exactly -- they definitely need to think carefully. Too many people end up with too much overlap in cards.

Some people don't mind having Discover and Freedom both. It also obviously depends how many cards you're comfortable with. Since I personally like no more than 5 cards, I wouldn't "waste" two slots with very similar cards. But it doesn't cost anything to keep a Freedom open. It's just dubious how much value it will bring to OP at such low spend, and he will likely end up with something like $1.67 in rewards on the Freedom if used occasionally with his low spend. Not really worth it.

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CarefulBuilder14
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Re: Should I get Chase Freedom?

Postby CarefulBuilder14 » Sun Jun 14, 2015 8:26 pm

kdm31091 wrote:Exactly -- they definitely need to think carefully. Too many people end up with too much overlap in cards.

Some people don't mind having Discover and Freedom both. It also obviously depends how many cards you're comfortable with. Since I personally like no more than 5 cards, I wouldn't "waste" two slots with very similar cards. But it doesn't cost anything to keep a Freedom open. It's just dubious how much value it will bring to OP at such low spend, and he will likely end up with something like $1.67 in rewards on the Freedom if used occasionally with his low spend. Not really worth it.

What are (or, if not all in place, what would be) your 5 cards?

We seem to agree that it's wasteful to have similar cards. We seem to disagree over how similar Freedom and IT are, though.

**I suppose if you want to get down to 5 cards with travel perks, then maybe there's not room for both.

If I had to pick 5 of my 10...hmm...what would I do?

Definitely drop Sallie Mae, Brooks Bros, and BCE...that would take me down to 7.

I'd want a MasterCard, and the new IHG would kick out Arrival, too.

PRG, EDP, Freedom, It, IHG, and CSP would remain. I'd probably drop PRG or EDP...so all 3 Chase cards would survive, as well as Discover and an Amex.**
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when



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