I received my letter today that detailed the new changes for Chase Freedom and for those with checking as well. Apparently this has been in the works since early last summer.(Googled Ultimate Rewards trying to find more info) They intend on completely getting rid of the Freedom card as we know it. The bonus $50 for $200 will no longer be available. Earn 1 point for every $1 spent every day, everywhere, on all purchases with no caps or expiration dates. Chase checking customers will earn 10% extra points on every purchase dollar you spend plus 10 bonus points every time you use your card for a purchase. Those wanting to stay at 3% will be converted to an AF card $30. They already have the new website up and running for this new program. The site is www.chase.com/tour for those wanting to check it out. I'm not sure how to feel about this because this was my first rewards card. For those who have had both types of cards, is this point system better than the 3% cash back?
On the brighter side, at least I have another $250 check on the way 
AD
@Romeoo47 wrote:bunnyrabbit, i received my letter earlier this week. However, I don't have the Starbucks Duetto Visa card. I have the Chase Freedom card. I received the notice that they were changing my rewards from 3% cashback in my Top 3 to 5% in rotating categories (like Discover More). I'm not sure if I'm one of the few people that are not happy about the change. According to my letter, the changes are effective March 31, 2010. Also, the letter stated they are discontinuing the reward of an extra $50 when you reach $200 in cashback. So you would receive a $250 check.
NOOOOO!! REALLYYYY???
I may have to think to apply for a New Freedom Card with 10/10.
My problem with the new reward program is 1) I don't get to chose the categories where I get the most cashback, 2) you have to sign up for the 5% categories like Discover, 3) I'm almost certain they will be caps on the 5% categories, and 4) I don't get the extra $50 cashback when I reach $200. I think the new program is step down from what the old Chase Freedom offered.
OK, I found the information regarding this changes at
http://www.interestingmoney.com/2009/05/12/chase-freedom-card-turns-into-discover/
Continue to redeem for checks, which now start at $50.
Note: The $50 bonus when redeeming $200 in Cash Back Rewards will no longer be available
after June 30th.
Woo, I better hurry-up to reach $200 and redeem it before June 30th. I have about 4 months left.
Hi bunnyrabbit! I just received my letter today:
