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Chase Freedom 5% Bonus Categories going away?

Frequent Contributor

Re: Chase Freedom 5% Bonus Categories going away?

I said I hope not but if so as longoing as I can transfer my URide points to Sapphire I will be okay. I have the Freedom and Unlimited and if I had to choose one it would have been the Unlimited. This quarter with groceries is the first time im coming close to maxing out.
Nov 2014 500s April 2016 TU 707 EQ 690 EX 663 May 2017 TU 718 EQ 708 EX 701
CSP 6K Cap One QS 10.6K Discover 7.3k Freedom 4k Unlimited 2.5k AMEX Platinum NPSL
Message 21 of 47
Regular Contributor

Re: Chase Freedom 5% Bonus Categories going away?

This is not a good news rumor.. Smiley Sad I recently just started getting into the whole points earning game and chose the Chase UR system. The Freedom's rotating categories was a main reason I went with UR. Hopefully this is just a rumor, or that  if they do depreciate the card those of us that have one will be grandfathered in for some time. <fingers crossed> I might have to look into getting the Ink to help offset the missed rotating categories, wonder if my small side biz would qualify?  

Message 22 of 47
Valued Contributor

Re: Chase Freedom 5% Bonus Categories going away?

Before everyone Chicken Littles themselves with worry, keep in mind that Chase may take a middle ground approach and simply close Freedom to new applicants but continue to offer 5x categories to existing cardholders, á la Citi Dividend (of course, if Chase goes this route, let us hope that Chase doesn't narrow the categories as much as the Dividend!)


   2000        2100      2900   3700(WMC)4600(WEMC)5000(VS) 5000(WMC)  7000      7000(VS)  7000(VS)  7500(VS)   9000(VS)10500(WMC) 23500(VS)

  1000           4000          3000        NPSL      FICO - EQ: 712 / EX: 706 / TU: 727    Wish List: BOA BBR | WF Propel Amex   Total Credit: $104,800    
Message 23 of 47
Super Contributor

Re: Chase Freedom 5% Bonus Categories going away?


jaylau17 wrote:

Before everyone Chicken Littles themselves with worry, keep in mind that Chase may take a middle ground approach and simply close Freedom to new applicants but continue to offer 5x categories to existing cardholders, á la Citi Dividend (of course, if Chase goes this route, let us hope that Chase doesn't narrow the categories as much as the Dividend!)


Right, but closing to new applicants is usually a first step to nerfing (Citi Forward) or forced conversion of the card for all (many examples).   In this case, there are lots of Freedoms out there, so IF Chase thinks they are unprofitable, I would expect some action if they really discontinue the card.

Message 24 of 47
Valued Contributor

Re: Chase Freedom 5% Bonus Categories going away?


longtimelurker wrote:

jaylau17 wrote:

Before everyone Chicken Littles themselves with worry, keep in mind that Chase may take a middle ground approach and simply close Freedom to new applicants but continue to offer 5x categories to existing cardholders, á la Citi Dividend (of course, if Chase goes this route, let us hope that Chase doesn't narrow the categories as much as the Dividend!)


Right, but closing to new applicants is usually a first step to nerfing (Citi Forward) or forced conversion of the card for all (many examples).   In this case, there are lots of Freedoms out there, so IF Chase thinks they are unprofitable, I would expect some action if they really discontinue the card.


So if we are using the Forward as an example, which was grandfathered in for a couple of years even after it was expired, are we supposed to be getting riled up about something that may happen a few years from now? The card hasn't even been expired yet! I think expending too much energy worrying at this stage is unnecessary and a bit senseless, honestly.

 

 


   2000        2100      2900   3700(WMC)4600(WEMC)5000(VS) 5000(WMC)  7000      7000(VS)  7000(VS)  7500(VS)   9000(VS)10500(WMC) 23500(VS)

  1000           4000          3000        NPSL      FICO - EQ: 712 / EX: 706 / TU: 727    Wish List: BOA BBR | WF Propel Amex   Total Credit: $104,800    
Message 25 of 47
Regular Contributor

Re: Chase Freedom 5% Bonus Categories going away?

I'm tempted to apply since it's one of the cards I reallyreally want.  Not sure if I should, though.

In the garden as of 6/9/2016.
Message 26 of 47
Valued Contributor

Re: Chase Freedom 5% Bonus Categories going away?


jaylau17 wrote:

So if we are using the Forward as an example, which was grandfathered in for a couple of years even after it was expired, are we supposed to be getting riled up about something that may happen a few years from now? The card hasn't even been expired yet! I think expending too much energy worrying at this stage is unnecessary and a bit senseless, honestly.


Well, as you said yourself, we could also use the Citi Dividend as an example. Which IS grandfathered and even now has the 5% categories, but the categories are generally so narrow/bad that most people find it next to useless (or they PC to the DC). THAT could also be the way the Freedom goes. I am not sure the worry is entirely unwarranted. We could also consider the fact that if it weren't for the fuel of speculation, half of the posts of this forum would disappear (and that's a conservative estimate). Smiley Very Happy

Message 27 of 47
Super Contributor

Re: Chase Freedom 5% Bonus Categories going away?


jaylau17 wrote:

longtimelurker wrote:

jaylau17 wrote:

Before everyone Chicken Littles themselves with worry, keep in mind that Chase may take a middle ground approach and simply close Freedom to new applicants but continue to offer 5x categories to existing cardholders, á la Citi Dividend (of course, if Chase goes this route, let us hope that Chase doesn't narrow the categories as much as the Dividend!)


Right, but closing to new applicants is usually a first step to nerfing (Citi Forward) or forced conversion of the card for all (many examples).   In this case, there are lots of Freedoms out there, so IF Chase thinks they are unprofitable, I would expect some action if they really discontinue the card.


So if we are using the Forward as an example, which was grandfathered in for a couple of years even after it was expired, are we supposed to be getting riled up about something that may happen a few years from now? The card hasn't even been expired yet! I think expending too much energy worrying at this stage is unnecessary and a bit senseless, honestly.

 

 


I wasn't suggesting getting riled up!  Just pointing out your equally hypothetical middle ground approach usually isn't the end state

Message 28 of 47
Valued Contributor

Re: Chase Freedom 5% Bonus Categories going away?

I feel real sympathy for the forum members who loved using their Freedom cards and are sad to see it possibly going away, but tbh, I was never that fond of my own Freedom card.  The APR was just way too high for me to enjoy using it much.  And I do PIF monthly on the great majority of my rewards cards, but even then my other rewards cards have significantly lower APRs than my Freedom, so it is the other cards that get my regular business.  I know and understand that some forum members feel that APR is not important if someone is going to PIF anyway, but for me a sky-high APR that is close to department store card APRs (again even with PIF) tells me that intrinsically, the issuing bank does not value me very highly as a customer.  My Freedom APR is currently 23.24% V and has anywhere to go but up as prime rate increases over time (who knows, maybe in time it may actually reach 30%+?), so for me, Chase Freedom is essentially a no-go...

** BEFCU Platinum Plus VISA @ 5.49% F, $4k ** Unify FCU Variable-Rate VISA Gold @ 5.99% V, $5k ** FNBO Amex @ 7.25% V, $20k ** PACU Premier Privileges Rewards MC @ 7.50% F, $20k ** Unify FCU Fixed-Rate VISA Platinum @ 8.99% F, $15k ** Barclay Ring @ 9.00% V, $1.9k ** BoA Cash Rewards WMC @ 9.99% F, $11.1k ** Citi DC WMC @ 10.24% V, $17.82k ** BoA Travel Rewards VS @ 10.24% V; $8.4k ** Cap1 No Hassle Miles Ultra Platinum MC @ 10.90% V, $3.5k ** Discover IT @ 10.99% V, $22.4k ** FNBO BucksBack VS @ 12.00% V, $20k ** BBR(x2) @ 12.99% V, $12k ** US Bank Cash+(x2) @ 15.99% V, $26k ** Citi DP VISA @ 15.99% V, $8.1k ** FNBO Amex TravElite @ 16.74% V, $15k ** Blispay @ 19.99% F, $5k ** Cap1 BuyPower WEMC @ 20.90% V, $6.25k **
Message 29 of 47
Regular Contributor

Re: Chase Freedom 5% Bonus Categories going away?

galahad15 - That's tough on the APR. I also hear that with Chase it's next to impossible to get APR reductions. I know that my 2007 Freedom card is somewhere below 14%, and I know it used to be much higher. I believe that the APR reductions were all automatic, but you could try calling and see if they can help with the APR.

Message 30 of 47