Citi DC vs Chase Freedom

[Yodah]

I got approved for the Freedom card in early Nov, and the Citi DC in mid Dec..... 

Terms after the intro year:

Freedom 2000 SL @ 22.99%

Citi DC    2500 SL @12.99%

I also have a Chase CSP 5000 SL @ 15.99, I was thinking about moving my entire freedom CL and 20K pts over to my CSP and just close the Freedom. I am putting pretty heavy spend on my CSP to reach the rewards goal, and it will help with UTiL if or when I need to carry over a balance.

Good Idea or No?....any possible AA I am missing?

Thanks

[Anonymous]

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@Yodah wrote:

I got approved for the Freedom card in early Nov, and the Citi DC in mid Dec..... 

Terms after the intro year:

@Anonymous 2000 SL @ 22.99%

@Anonymous DC    2500 SL @Anonymous.99%

@I also have a Chase CSP 5000 SL @ 15.99, I was thinking about moving my entire freedom CL and 20K pts over to my CSP and just close the Freedom. I am putting pretty heavy spend on my CSP to reach the rewards goal, and it will help with UTiL if or when I need to carry over a balance.

Good Idea or No?....any possible AA I am missing?

Thanks

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Moving the points to CSP is a good idea but not sure about closing the card completely.  If you do you will miss  out on the quarterly 5% bonuses like this quarter for groceries.  I'll add that if you just finished reaching the spend amount on the freedom and close it out, Chase might take an extra look at you.  If you are going to close it out Id wait a few more months.

[CreditCuriosity]

If you just got the freedom for the 200 dollar signup bonus and move the limit and close it, that might raise some kinda red flag.. Bank aren't generally in the business to lose money and obviously they hope to get swipe fees off you in the future.. Just my 2 cents.  could put your CSP in jeporady as well if you are just doing it for meeting spending bonuses..  Aka Churning of sorts..

[Yodah]

Gotcha!....... Thats what I needed to know.... I may use it once or twice a month for something and see how it grows over the next year.

[CreditCuriosity]

On a side note that is an awesome APR you got the on the DC, considering it is a rewards card!   Granted any rewards card you want to PIF each month or kinda defeats the points of the rewards via interest.  Unless obviously you have 0% apr for x months

[coldnmn]

Maybe put a bill like Netflix or some monthly bill on it and setup for auto pay would work so you don't forget it. If you don't want to do that, a small purchase once every 3-6 months should be enough.

[kdm31091]

I never really understand why you'd bother to put a small charge on something just to keep it. If you don't want it get rid of it. You dont owe them an explanation or certain amount of time. Just move on if it has no benefit for you. Don't keep it just to keep it.

That said they may think you're churning for bonuses so in the future be careful and only open cards you see a long-term benefit from IMO.

[Yodah]

Thanks for the responses and insight

Yeah that DC APR is great and was one of the main reasons to keep that card long term over the freedom..... 

[longtimelurker]

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@Yodah wrote:

Thanks for the responses and insight

Yeah that DC APR is great and was one of the main reasons to keep that card long term over the freedom..... 

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Since I don't work for Chase Security (or at least I say I don't), can't be definite, but I think closing the Freedom soon would be OK.    Chase is looking for patterns of abuse, so closing the Freedom after getting the bonus, followed by doing the same with the CSP might get attention, but since you intend to keep the CSP, this shouldn't be a problem.

That said, as you ARE keeping the CSP, unless there is a compelling reason (and high APR isn't one), it's probably not worth closing the Freedom.  Freedom's 5x categories can help your UR count quite a bit, so IMO worth keeping for that.   I wouldn't bother to keep it alive aritificially though: if you can use it for a 5% in a quarter, do so, otherwise just let it sit, until a good quarter comes along.  If chase does close it, then fine.   But move over some of the CL anyway.   At most you will need $1500 on the Freedom to maximize the bonus.

[lg8302ch]

I would keep Freedom since it has no AF. Use it for the 5% categories and get the points transferred to CSP. In the meantime I got used to the 22,99% APR on my Freedom and it gives me a smile I know once thing...Chase will never ever get a penny in interest from me  with such terms.