Chase Freedom changes in March?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
22 posts
JonE
Centurion Member
Centurion Member
 
Posts: 336
Joined: Sat Jan 24, 2015 9:55 am
Location: Denver

Chase Freedom changes in March?

Postby JonE » Sun Feb 28, 2016 12:45 pm

From MYFICO and a few blogs, the Freedom will either (depending on who you believe) become a 1.5% cash back on all purchases card, and be rebranded the Chase Freedom Unlimited, OR, there will be a 1.5% cash back card created along with the current incarnation, and IT will be called the Chase Freedom Unlimited. If the 1.5% applies to UR points, that essentially makes it a better deal than the CSP. But it's too early to know for sure.
Wallet: Chase Freedom, Discover IT
Chopping Block: Synchrony
Future: TBD


4ktvs
Centurion Member
Centurion Member
 
Posts: 152
Joined: Thu Nov 05, 2015 8:00 pm

Re: Chase Freedom changes in March?

Postby 4ktvs » Sun Feb 28, 2016 1:51 pm

JonE wrote:From MYFICO and a few blogs, the Freedom will either (depending on who you believe) become a 1.5% cash back on all purchases card, and be rebranded the Chase Freedom Unlimited, OR, there will be a 1.5% cash back card created along with the current incarnation, and IT will be called the Chase Freedom Unlimited. If the 1.5% applies to UR points, that essentially makes it a better deal than the CSP. But it's too early to know for sure.


The card act of 09 would prevent them from changing it for at least a year I think at least for those who just jumped on the band wagon. (Though they as they have before can screw it all and just do it in spite of what the law is.)

I could be wrong on what the wording of the law means in this case but that is the way I understood it.

I wouldn't doubt Chase bailing out of the %5 CB card market as most people I think now just use it for the %5 CB and use something like a capital one QS for other stuff or even a citi double cash.

augiedog
Centurion Member
Centurion Member
 
Posts: 260
Joined: Fri Jun 07, 2013 9:46 am
Location: Broward County FL

Re: Chase Freedom changes in March?

Postby augiedog » Sun Feb 28, 2016 3:10 pm

4ktvs wrote:I wouldn't doubt Chase bailing out of the %5 CB card market as most people I think now just use it for the %5 CB and use something like a capital one QS for other stuff or even a citi double cash.


I have seen a Freedom used "in the wild" once or twice for a non-category purchase, but it doesn't seem so common. I've only ever used it for category purchases (mainly groceries) and then use a different card for everything else.
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

Tubpbs
Centurion Member
Centurion Member
 
Posts: 880
Joined: Mon Oct 19, 2015 2:08 pm

Re: Chase Freedom changes in March?

Postby Tubpbs » Sun Feb 28, 2016 4:47 pm

augiedog wrote:
4ktvs wrote:I wouldn't doubt Chase bailing out of the %5 CB card market as most people I think now just use it for the %5 CB and use something like a capital one QS for other stuff or even a citi double cash.


I have seen a Freedom used "in the wild" once or twice for a non-category purchase, but it doesn't seem so common. I've only ever used it for category purchases (mainly groceries) and then use a different card for everything else.



I actually think the majority of its users use it for almost everything. Obviously I don't know, but I would wager that the percentage of people that use that card (or the percentage of dollars spent on that card) for only 5% categories is probably between 0.1% and 0.5% at best.

Most people don't do that shit at all, let alone the way people do here. I don't maximize my spend in a lot of instances. If I'm lazy or don't feel like spending any more money on a particular card in a particular billing period or feel like I should be spending more money on another card.

Either way, if they're coming out with a 1.5% cash back card they feel they're missing out on something. I'm still not really sure why someone would prefer 1.5% cash back to 2% cash back (ignoring the UR factor in this instance)
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3942
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Chase Freedom changes in March?

Postby CarefulBuilder14 » Mon Feb 29, 2016 10:38 am

Freedom is a pretty popular primary card for young people in the NYC area, just as older people often have CSP. I see it get a lot of general spending.

4ktvs wrote:
JonE wrote:From MYFICO and a few blogs, the Freedom will either (depending on who you believe) become a 1.5% cash back on all purchases card, and be rebranded the Chase Freedom Unlimited, OR, there will be a 1.5% cash back card created along with the current incarnation, and IT will be called the Chase Freedom Unlimited. If the 1.5% applies to UR points, that essentially makes it a better deal than the CSP. But it's too early to know for sure.


The card act of 09 would prevent them from changing it for at least a year I think at least for those who just jumped on the band wagon. (Though they as they have before can screw it all and just do it in spite of what the law is.)

I could be wrong on what the wording of the law means in this case but that is the way I understood it.


I wouldn't doubt Chase bailing out of the %5 CB card market as most people I think now just use it for the %5 CB and use something like a capital one QS for other stuff or even a citi double cash.

The CARD Act just addresses interest, fees, due dates, disclosures, marketing, etc. It makes no regulation over rewards programs. Zero. Zilch. Nada.

https://www.gpo.gov/fdsys/pkg/BILLS-111 ... 627enr.pdf

It also has a rider that prevents gun control in national parks.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

Nixon
Centurion Member
Centurion Member
 
Posts: 1090
Joined: Mon Nov 03, 2014 11:12 am
Location: Great Southwest

Re: Chase Freedom changes in March?

Postby Nixon » Mon Feb 29, 2016 2:26 pm

CarefulBuilder14 wrote:Freedom is a pretty popular primary card for young people in the NYC area, just as older people often have CSP. I see it get a lot of general spending.

4ktvs wrote:
JonE wrote:From MYFICO and a few blogs, the Freedom will either (depending on who you believe) become a 1.5% cash back on all purchases card, and be rebranded the Chase Freedom Unlimited, OR, there will be a 1.5% cash back card created along with the current incarnation, and IT will be called the Chase Freedom Unlimited. If the 1.5% applies to UR points, that essentially makes it a better deal than the CSP. But it's too early to know for sure.


The card act of 09 would prevent them from changing it for at least a year I think at least for those who just jumped on the band wagon. (Though they as they have before can screw it all and just do it in spite of what the law is.)

I could be wrong on what the wording of the law means in this case but that is the way I understood it.


I wouldn't doubt Chase bailing out of the %5 CB card market as most people I think now just use it for the %5 CB and use something like a capital one QS for other stuff or even a citi double cash.

The CARD Act just addresses interest, fees, due dates, disclosures, marketing, etc. It makes no regulation over rewards programs. Zero. Zilch. Nada.

https://www.gpo.gov/fdsys/pkg/BILLS-111 ... 627enr.pdf

It also has a rider that prevents gun control in national parks.


I like the CARD act more and more every day.
Image

4ktvs
Centurion Member
Centurion Member
 
Posts: 152
Joined: Thu Nov 05, 2015 8:00 pm

Re: Chase Freedom changes in March?

Postby 4ktvs » Mon Feb 29, 2016 10:02 pm

CarefulBuilder14 wrote:Freedom is a pretty popular primary card for young people in the NYC area, just as older people often have CSP. I see it get a lot of general spending.

4ktvs wrote:
JonE wrote:From MYFICO and a few blogs, the Freedom will either (depending on who you believe) become a 1.5% cash back on all purchases card, and be rebranded the Chase Freedom Unlimited, OR, there will be a 1.5% cash back card created along with the current incarnation, and IT will be called the Chase Freedom Unlimited. If the 1.5% applies to UR points, that essentially makes it a better deal than the CSP. But it's too early to know for sure.


The card act of 09 would prevent them from changing it for at least a year I think at least for those who just jumped on the band wagon. (Though they as they have before can screw it all and just do it in spite of what the law is.)

I could be wrong on what the wording of the law means in this case but that is the way I understood it.


I wouldn't doubt Chase bailing out of the %5 CB card market as most people I think now just use it for the %5 CB and use something like a capital one QS for other stuff or even a citi double cash.

The CARD Act just addresses interest, fees, due dates, disclosures, marketing, etc. It makes no regulation over rewards programs. Zero. Zilch. Nada.

https://www.gpo.gov/fdsys/pkg/BILLS-111 ... 627enr.pdf

It also has a rider that prevents gun control in national parks.


Good to know, well that would likely really get on someone's bad side if for say they signed up for the card on the 18th of march and then on the next day changed the rewards on them to a %1.5 card. But I guess they could legally do it so that is up to them on how they want to go about that. (If they so chose to put their %5 CB program on the chopping block that is.)

kdm31091
Centurion Member
Centurion Member
 
Posts: 1054
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: Chase Freedom changes in March?

Postby kdm31091 » Tue Mar 01, 2016 8:31 am

The CARD act has nothing to do with rewards. Fees, interest rates, etc are protected. Reward programs are not. This is a common misconception.

You can apply for Freedom on March 1 and get the 5%; Chase can send you a letter on March 2 stating the 5% is discontinued effective immediately. Doesn't matter and is perfectly legal.

In practice, most issuers give notice of reward nerfs, but they aren't required to, and it's irrelevant how long you have had the card. This is why the whole "app now before it gets changed!" thing makes little sense to me, as you aren't guaranteeing anything long term just by being approved now.

As far as the card, I suspect 1.5% cash. 1.5 UR just seems awfully generous when CSP is 1 UR / 2 UR dining and travel. Yes, you need to hold an AF card to be able to transfer the points, but people who had both Freedom Unlimited and CSP would barely be using the CSP if the Freedom were 1.5 UR per dollar. The point is it doesn't seem to make much sense, which is why I think it's 1.5% cash.

CC Deville
Centurion Member
Centurion Member
 
Posts: 1077
Joined: Thu Aug 04, 2011 7:07 pm
Location: Phoenix

Re: Chase Freedom changes in March?

Postby CC Deville » Sun Mar 13, 2016 7:57 pm

Chase Freedom Unlimited will be in addition to the current Freedom. Freedom Unlimited = 1.5% UR points per dollar while Freedom = 1% on all purchases + 5% quarterly, rotating categories.

As it happens, I have two Chase Freedoms. One was a Chase Manhattan Platinum MasterCard, turned Slate MasterCard, turned Slate Visa turned Freedom Visa. I have just requested through Secured Message to have the above card changed to Freedom Unlimited. They wrote back that it was indeed possible and needed me to confirm that I wanted the change. So now I will have a Freedom and Freedom Unlimited. Sounds like a plan.

takeshi
Centurion Member
Centurion Member
 
Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Re: Chase Freedom changes in March?

Postby takeshi » Mon Mar 14, 2016 9:12 am

CC Deville wrote:Freedom Unlimited = 1.5% UR points per dollar while Freedom = 1% on all purchases + 5% quarterly, rotating categories.

Picking nits but 1.5x points. If redeemed for cash that's 1.5%. If combined and transferred then % will vary depending on the redemption.

X and % are not the same thing despite how some conflate the two.



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 2 guests