Freedom or QS

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7 posts
Michael
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Freedom or QS

Postby Michael » Mon Nov 11, 2013 2:46 pm

I would like an opinion over which card is a better moneymaker.

Cap One gives1.5% over all purchases.

Chase Freedom gives 5% in quarterly categories and 1% on all other purchases.

Since I have Chase checking I also get the 10% annual bonus, thus making it 5.5% and 1.1%.

I use the quarterly categories sometimes, like restaurants and drug stores. However, some of the other categories are not ones I care about.

We do have medical bills which pay more on the 1.5% Cap One.

My problem is that I have too many really good credit cards, and already use AMEX Blue for groceries and gas, and Costco AMEX for Costco and restaurants.

I also have Discover IT.

I would like to cut regular wallet usage down to the two AMEX cards and one other.

I just don't know how to do this, without giving up some category or reward.

I really do NOT want to carry four credit cards or play credit card musical chairs (which I am tired of doing).

I would like to really 'settle down' with the two AMEX cards and only one of Cap One or Freedom in the wallet (becuase you need a MC or Visa). I would 'sock-drawer' the others and use them once in a while to keep them active.

Any suggestions? :confused:


wiivile
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Postby wiivile » Mon Nov 11, 2013 4:30 pm

Since you're a Chase Checking customer, Freedom. 5.5% and 1.1% > 1.5%. You may also want to look into getting the CSP in the future once you have racked up a lot of points with the Freedom. Freedom is a great points-earner and CSP is a great points-redeemer.
    Chase Sapphire Preferred Visa Signature: 11/2013, $15,000 CL
    Chase Freedom Visa: 11/2009, $4,700 CL
    U.S. Bank Cash+ Visa Signature: 11/2013, $11,200 CL

takeshi
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Postby takeshi » Tue Nov 12, 2013 8:11 am

Michael wrote:I would like an opinion over which card is a better moneymaker.

You'd have to compare based on your spend. Spend varies from person to person. One could do better with either card depending on spend and the 5% categories offered. Keep in mind that Freedom is limited to $1,500 per quarter for 5%.

You should be able to determine what your "everything else" spend is and determine what 0.4% of that would be to help you in deciding.

All that said, the Freedom's rewards can be worth a bit more if you can transfer points to a travel partner with a CSP or other card that allows transfers. I know that probably doesn't help to narrow it down as it just introduces another variable but it might be worth considering.

Michael wrote:I just don't know how to do this, without giving up some category or reward.

I really do NOT want to carry four credit cards or play credit card musical chairs (which I am tired of doing).

Sounds like you just need to determine which of these is the biggest priority and then go with it.

Personally, I carry 3 that cover my major spend categories (for the most part) and just consider my single 5% rotating card as gravy. However, I do have 5 other cards as well -- they're just not normally on me.

Midori
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Postby Midori » Tue Nov 12, 2013 3:01 pm

Didn't the checking/Chase Freedom bonus program change pretty dramatically this year? I had been looking into picking up a Chase checking account, but when I read whatever it was, the extra checking bonus had shifted to mehhhh, so that I was left with the impression that the Freedom was good for its 5% categories, but you couldn't get the 12-points-per-dollar anymore. If it's a 10% annual bonus points on your bonus points earned, would that translate to 1.1%, vs the Quicksilver's 1.5%? So then it would come down to whether the amount of spend I put into it was worth it, and a comparison of their redemption programs.

If I'm looking to get a card as my catch-all-miscellany just for the sake of having access to a MC or Visa, I'd probably go with the Quicksilver, since you've (a) got gas/groceries/restaurants already covered, and (b) rotating bonus category cards lend themselves to cc musical chairs, which your'e tired of, and (c) most people use the Freedom to its best advantage with the CSP, which is yet-another-card when you're trying to trim down. But I'd wait to make a final decision until after I saw what 2014's rotating categories would be, to see if there was indeed anything attractive there.

DavidNY
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Postby DavidNY » Tue Nov 12, 2013 3:08 pm

Midori wrote:bonus had shifted to mehhhh


A 10% annual bonus may be mehhhh, but it's still free money. CSP only has a 7% bonus.

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djrez4
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Postby djrez4 » Tue Nov 12, 2013 3:21 pm

DavidNY wrote:A 10% annual bonus may be mehhhh, but it's still free money. CSP only has a 7% bonus.


I'm still grandfathered into the old plan at the moment. I'm hoping they forgot about me.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

DavidNY
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Postby DavidNY » Tue Nov 12, 2013 5:03 pm

djrez4 wrote:I'm still grandfathered into the old plan


Me too. I expect it to change soon.



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