What's so great about Chase?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
PhoenixDown
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Postby PhoenixDown » Mon Sep 02, 2013 10:49 pm

I like the way their rewards program works, Chase Freedom + Sapphire Preffered (no foreign transaction fees) is great for my spending habits. I also have Discover for their 5% cash back catagories and an Amex. I just to app for the CSP and I'm set.


randeman
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Postby randeman » Tue Sep 03, 2013 8:03 am

Reading through the app, I remembered something else that I like about their customer service. I got my Sapphire and MileagePlus cards at the same time. Since they both have a ton of perks, I came up with a question or two now and again. When I would call, they always came across like they were only too happy to help. They almost always mentioned a benefit of the card that my call wasn't about that they would share after they had answered my question: "Don't forget that your MileagePlus card has a benefit that..." or, "Did you know that with the Sapphire card..." That happened pretty much every time I called. It also happened once when I went into a branch. After answering my question, the officer asked if I knew I could transfer points between cards? I had no idea. So if I wanted to use my MileagePlus miles for a ticket and I was short 5,000 miles, I could transfer 5,000 Sapphire points to my MileagePlus account and the ticket was mine!
Cards and Credit lines Acquired:

Escape by Discover (7.75K), Barclay Holland America Visa (7K), Macy's store card (7K), Bloomingdale's store card (2.6K), Citi Custom Credit Line (3.5K), PayPal Smart Connect credit line (2.7K), Chase Freedom Visa (5K), Chase United MileagePlus Visa (5K), Chase Sapphire Preferred Visa (6K), Amazon store card (2.2K), Lord & Taylor store card (550), Nordstrom store card (1500), Gold Delta SkyMiles from American Express (3K), Discover It (6.5K), PayPal Credit Line (1K).

DavidNY
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Postby DavidNY » Tue Sep 03, 2013 12:06 pm

randeman wrote:MileagePlus card


Are you keeping yours past the first year? I'm thinking of keeping mine and selling the passes on eBay to recoup most of the AF.

randeman
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Postby randeman » Wed Sep 04, 2013 7:19 am

I plan on keeping my MileagePlus card forever, yes. I will either convert my Sapphire card to Sapphire Preferred or apply for the CSP and have all three. I travel enough that I have use for all the benefits that both cards have.
Cards and Credit lines Acquired:

Escape by Discover (7.75K), Barclay Holland America Visa (7K), Macy's store card (7K), Bloomingdale's store card (2.6K), Citi Custom Credit Line (3.5K), PayPal Smart Connect credit line (2.7K), Chase Freedom Visa (5K), Chase United MileagePlus Visa (5K), Chase Sapphire Preferred Visa (6K), Amazon store card (2.2K), Lord & Taylor store card (550), Nordstrom store card (1500), Gold Delta SkyMiles from American Express (3K), Discover It (6.5K), PayPal Credit Line (1K).

takeshi
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Postby takeshi » Wed Sep 04, 2013 6:03 pm

JeffM wrote:What am I missing? Are they really generous with Credit Limits and subsequent increases than other banks?

You're missing that "what makes X great" is a subjective matter no matter what card is the topic. Chase has several cards that suit my needs/wants very well. They also have cards that suit many others well. That doesn't necessarily mean that any of them are suited to you. That's for you to determine by reviewing their offerings and comparing to your specific needs/wants.

What are you looking for? Define what you're after and we can assist you in finding card that are suited to you rather than going about it backwards to see if a card happens to fit you.

JeffM wrote:The 5% cash back on select categories is good but that's pretty much the same as the Discover IT. The $100 cash back bonus for opening is nice but I've seen similar offers from other companies. And from what I can tell, they do charge for Foreign Transaction Fees.

Now you're talking about a specific card, the Freedom. Freedom isn't Chase's only card.

The Sapphire Preferred and MileagePlus Explorer, for example, do not have FTF's.

DavidNY
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Postby DavidNY » Wed Sep 04, 2013 8:58 pm

randeman wrote:I plan on keeping my MileagePlus card forever, yes.


Sounds good. I have the Explorer version, which do you have?

DavidNY
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Postby DavidNY » Wed Sep 04, 2013 9:04 pm

JeffM wrote:Are they really generous with Credit Limits and subsequent increases than other banks?


In my experience, yes.

RewardHop
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Postby RewardHop » Wed Sep 04, 2013 11:30 pm

DavidNY wrote:In my experience, yes.


I have had the opposite experience. My first CC (Amazon Visa) was through Chase and that card is stuck with under a $3k limit. I requested a CLI and was denied. My Chase Freedom has a $9k CL and thats after two CLI requests; I started at $3-4k. To put into perspective, my top two cards have $16k and $12k CL. I had a 730 to 750 FICO when I made those CLI requests.
[size=60]
Amex BCE: 3% grocery, 2% gas
Bank of America Better Balance Rewards MC: $25/quarter bonus
Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities
Capital One Quicksilver Visa Signature: 1.5% everything
Chase Freedom Visa Signature: 5% rotating
Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com
Discover It: 5% rotating
SallieMae MC: 5% Groceries, Gas, Amazon
US Bank Cash+ Visa Signature: 5% electronic stores, restaurants
Sock Drawered: Chase Sapphire, Chase Amazon[/size]

whit
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Postby whit » Thu Sep 05, 2013 2:00 am

I think people get confused because different lenders have slightly different requirements but fundamentally it is all pretty much the same

Just because you have a 25k (example, you can sub that for any amount you like) CC does not mean that you are going to get approved for that amount or roughly every single time.

Your credit line is based on a few factors, credit score (which consistently changes but not always as volatile) being one of time

Income and the amount of revolving credit being another

So if you're already having x amount being lend to you and your income situation hasn't changed much, then you're less likely to get another cc with a high limit, or be able to request for a higher one.

People who have steady income of let's say 50k and slowly making way up to 60,70k within the next two decades will not be able to steadily increase their credit limit to 10, 20, 30k..within a few years. Just doesnt make sense on a cc with that type of income.

Another example--why some mortgage reps will ask you to close a cc or refrain from opening any cc..because underwriters will be looking at your entire picture. How much debt to income, how much credit is already being lent, revolving or fixed, what is your income, your asset..

So don't beat yourself up for not getting a credit increase when you already have substantial amount in revolving credit. If you truly want higher you can always close one of the accounts and ask the CL to be transferred or used to make the other one higher.

RewardHop
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Postby RewardHop » Thu Sep 05, 2013 2:03 am

whit wrote:I think people get confused because different lenders have slightly different requirements but fundamentally it is all pretty much the same
...
So don't beat yourself up for not getting a credit increase when you already have substantial amount in revolving credit. If you truly want higher you can always close one of the accounts and ask the CL to be transferred or used to make the other one higher.


Well said, I'm definitely still happy with using Chase. The CL doesn't bother me, I was happy they converted my Chase Freedom to a Visa Signature card when I asked.

My income actually doubled when I asked for the CLI; they asked me for my current income at the time over the phone and I told them. I went from doing part-time contracting work to a full-time job, which is why income doubled. To this day, my combined credit limits are still less than my annual income.
Thats why I originally brought this up, just thought it was weird...
[size=60]

Amex BCE: 3% grocery, 2% gas

Bank of America Better Balance Rewards MC: $25/quarter bonus

Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities

Capital One Quicksilver Visa Signature: 1.5% everything

Chase Freedom Visa Signature: 5% rotating

Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com

Discover It: 5% rotating

SallieMae MC: 5% Groceries, Gas, Amazon

US Bank Cash+ Visa Signature: 5% electronic stores, restaurants

Sock Drawered: Chase Sapphire, Chase Amazon[/size]



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