Chase Freedom 10% Cash Back 2015 (Starting 11/23/15)

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augiedog
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Re: Chase Freedom 10% Cash Back 2015 (Starting 11/23/15)

Postby augiedog » Sun Nov 22, 2015 12:52 am

kdm31091 wrote:I agree. I was just making a joke because people hear about amazon categories and act as if they spend thousands a month on there. While I'm sure some people do, it cracks me up when they act like that is the norm for many people. Considering I only spend probably 1500-maybe 2k a month total on my cards, I sure as heck don't spend a third or more of that on one website (albeit a site that sells a lot of things, but still).

I fully think that chasing after the amazon rewards just makes people spend more than they otherwise would, but oh well.


I see an Amazon package on my neighbor's front door step nearly every day, so I think some people do! And I have got a lot of responses in other threads about my dislike of the Amazon category similar to your own (but not as a joke)! Although Discover includes department stores too, it's not enough to persuade me to make Discover my main card anymore when my Amex Blue is hitting all the sweet spots with Amex Offers. Then again, the Price Protection on the Discover It does make it slightly competitive during the holiday shopping season.

Concerning the Chase Freedom, I won't be spending enough to meet the minimum redemption of $25 on Amazon alone. Chase really did need to up the cash back to 10% to stop people from using their Discover It, which is super flexible in reward redemption, not to mention Discover's great website and surplus of other features.
American Express: Blue Cash Everyday (10k), Everyday, ; Discover It (7.3k) ; Target (2.1k)

Citi: Diamond (2k) ; Bank of America: Cash Rewards (2.6k) ; Capital One: Quicksilver (3k) , Sony ; Chase: Freedom (3.7k), Slate (3k), (Amazon) ; Barclay Ring ; Synchrony: Walmart MC, Amazon, Ebates


kdm31091
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Re: Chase Freedom 10% Cash Back 2015 (Starting 11/23/15)

Postby kdm31091 » Sun Nov 22, 2015 7:26 am

augiedog wrote:
kdm31091 wrote:I agree. I was just making a joke because people hear about amazon categories and act as if they spend thousands a month on there. While I'm sure some people do, it cracks me up when they act like that is the norm for many people. Considering I only spend probably 1500-maybe 2k a month total on my cards, I sure as heck don't spend a third or more of that on one website (albeit a site that sells a lot of things, but still).

I fully think that chasing after the amazon rewards just makes people spend more than they otherwise would, but oh well.


I see an Amazon package on my neighbor's front door step nearly every day, so I think some people do! And I have got a lot of responses in other threads about my dislike of the Amazon category similar to your own (but not as a joke)! Although Discover includes department stores too, it's not enough to persuade me to make Discover my main card anymore when my Amex Blue is hitting all the sweet spots with Amex Offers. Then again, the Price Protection on the Discover It does make it slightly competitive during the holiday shopping season.

Concerning the Chase Freedom, I won't be spending enough to meet the minimum redemption of $25 on Amazon alone. Chase really did need to up the cash back to 10% to stop people from using their Discover It, which is super flexible in reward redemption, not to mention Discover's
great website and surplus of other features.


Good point about the redemption threshold. I forgot about that. People tend to freak out anytime one talks "bad" about Freedom because they have their beloved Freedom/CSP combo. The part that still makes zero sense to me is that yes, you can earn 5x URs with your freedom and that's great, but if the categories are very narrow at best, then who cares? How many people are really spending that much on diapers.com? Lol. But anytime I point these things out, it's a problem. One has to do what they want and what works for their spend of course, but I just think Freedom is an overrated product on the whole. It has some uses, but it's certainly outclassed by Discover for me at least. YMMV.

Discover is also IMO more "customer friendly" if it makes any sense. Yes, Chase will give you 140k Ritz points and this and that. But when it comes time for a CLI? HP 98% of the time, and usually a dinky result. APR reduction? Haha...never going to happen. Discover is willing to be flexible over time with these things assuming you're a worthy customer. To me, that's more valuable than a bunch of hotel points etc. But again, depends on the person and their needs.

JonE
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Re: Chase Freedom 10% Cash Back 2015 (Starting 11/23/15)

Postby JonE » Sun Nov 22, 2015 9:49 am

Hopefully they'll do better on the categories in 2016. Really disappointed with Chase Freedom this quarter. I like Discover's categories quite a bit more.
Current Cards: Chase Freedom, Discover IT
Future: TBD

augiedog
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Re: Chase Freedom 10% Cash Back 2015 (Starting 11/23/15)

Postby augiedog » Tue Nov 24, 2015 7:50 pm

I think I will be using the Chase 10% bonus. I can get $250 Whole Foods Gift cards and qualify for the minimum redemption.
American Express: Blue Cash Everyday (10k), Everyday, ; Discover It (7.3k) ; Target (2.1k)

Citi: Diamond (2k) ; Bank of America: Cash Rewards (2.6k) ; Capital One: Quicksilver (3k) , Sony ; Chase: Freedom (3.7k), Slate (3k), (Amazon) ; Barclay Ring ; Synchrony: Walmart MC, Amazon, Ebates

kdm31091
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Re: Chase Freedom 10% Cash Back 2015 (Starting 11/23/15)

Postby kdm31091 » Wed Nov 25, 2015 7:28 am

augiedog wrote:I think I will be using the Chase 10% bonus. I can get $250 Whole Foods Gift cards and qualify for the minimum redemption.


I've thought about the gift card thing before, like using my amex BCP to buy home depot gift cards and stuff. I dunno. I get nervous tying up a lot of money in gift cards, especially when I'm basically going out and buying gift cards for rewards, not because I need something from said store. In other words, spending $100 on a home depot gift card I don't need to save 6%/$6 is probably not smart. Of course, if I had a major home depot purchase planned, I could see doing it, but doing it for "just in case I go there" reasons is over the top for me. YMMV. If it's somewhere you know you shop often and you aren't just buying the GC to get rewards, then it can make sense.

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Re: Chase Freedom 10% Cash Back 2015 (Starting 11/23/15)

Postby Vattené » Wed Nov 25, 2015 2:02 pm

kdm31091 wrote:I've thought about the gift card thing before, like using my amex BCP to buy home depot gift cards and stuff. I dunno. I get nervous tying up a lot of money in gift cards, especially when I'm basically going out and buying gift cards for rewards, not because I need something from said store. In other words, spending $100 on a home depot gift card I don't need to save 6%/$6 is probably not smart. Of course, if I had a major home depot purchase planned, I could see doing it, but doing it for "just in case I go there" reasons is over the top for me. YMMV. If it's somewhere you know you shop often and you aren't just buying the GC to get rewards, then it can make sense.


I've dabbled in that (Lowe's has a ton of gift cards, so it's a good way to earn Discover rewards in home improvement categories), but I do agree. I limit it to restaurants I would go to sooner or later anyway, or sometimes pick up a gift card on the way to a restaurant I'd be spending money at that night anyway. Whole Foods is similar: if you will be spending the money there anyway it is a good way to earn rewards. If you frequently shop at Whole Foods it doesn't take much to go through a $250 gift card, BUT if you do it a lot there comes a point where tying up so much money in gift cards isn't worth it. Also, if you're buying gift cards just to earn rewards, it can be easy to spend more money than you otherwise would at a place, which will put you at a net loss quickly.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

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Vattené
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Re: Chase Freedom 10% Cash Back 2015 (Starting 11/23/15)

Postby Vattené » Wed Nov 25, 2015 2:03 pm

(sorry, double posted)
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
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American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

augiedog
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Re: Chase Freedom 10% Cash Back 2015 (Starting 11/23/15)

Postby augiedog » Wed Nov 25, 2015 5:59 pm

kdm31091 wrote:I've thought about the gift card thing before, like using my amex BCP to buy home depot gift cards and stuff. I dunno. I get nervous tying up a lot of money in gift cards, especially when I'm basically going out and buying gift cards for rewards, not because I need something from said store. In other words, spending $100 on a home depot gift card I don't need to save 6%/$6 is probably not smart. Of course, if I had a major home depot purchase planned, I could see doing it, but doing it for "just in case I go there" reasons is over the top for me. YMMV. If it's somewhere you know you shop often and you aren't just buying the GC to get rewards, then it can make sense.

Vattené wrote:I've dabbled in that (Lowe's has a ton of gift cards, so it's a good way to earn Discover rewards in home improvement categories), but I do agree. I limit it to restaurants I would go to sooner or later anyway, or sometimes pick up a gift card on the way to a restaurant I'd be spending money at that night anyway. Whole Foods is similar: if you will be spending the money there anyway it is a good way to earn rewards. If you frequently shop at Whole Foods it doesn't take much to go through a $250 gift card, BUT if you do it a lot there comes a point where tying up so much money in gift cards isn't worth it. Also, if you're buying gift cards just to earn rewards, it can be easy to spend more money than you otherwise would at a place, which will put you at a net loss quickly.


I can spend $500 at Whole Foods very easily in a month. I also do a lot of shopping for my parents, and they pay me whatever is on the grocery bill, so it's a very good deal for me. I've considered buying the full $1500 in WF gift cards but I'm still thinking twice about it because it is a lot of money to tie up (even though I'll eventually spend three to four times that next year).

My friend works at Babies R Us, and I asked him to take a picture of the gift cards they might have since I have a $5 off $25 offer from Amex. I got a $25 WF gift card. That might not be worth it for some people in gas, but I pass by the store all the time but would never normally shop there.
American Express: Blue Cash Everyday (10k), Everyday, ; Discover It (7.3k) ; Target (2.1k)

Citi: Diamond (2k) ; Bank of America: Cash Rewards (2.6k) ; Capital One: Quicksilver (3k) , Sony ; Chase: Freedom (3.7k), Slate (3k), (Amazon) ; Barclay Ring ; Synchrony: Walmart MC, Amazon, Ebates

kdm31091
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Re: Chase Freedom 10% Cash Back 2015 (Starting 11/23/15)

Postby kdm31091 » Wed Nov 25, 2015 8:54 pm

I think it's about finding the right balance between tying up too much money just for the sake of rewards vs buying a sensible dollar amount of GCs that you will actually use in the near future. Everyone's spend and income are different so obviously the thresholds vary, but I personally hesitate to purchase any GC over $100 unless I am dead sure I will be using it shortly. GCs can get lost, or you forget to bring them, and it's just one more thing to carry around in an already full wallet. I dunno, just not my thing in large quantities, but it makes sense to maximize rewards in some circumstances.

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Vattené
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Re: Chase Freedom 10% Cash Back 2015 (Starting 11/23/15)

Postby Vattené » Thu Nov 26, 2015 10:49 am

Oh and I do get $250 in Walmart gift cards at the start of every SM billing cycle. It's partially to make sure I don't spend over $250/month on my SM (I would switch to a different card in that case), but mostly because that let's me "double dip" in gas rewards: 5% for groceries on SM and $.03/gallon discount for a prepaid card.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now



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