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Is Chase Freedom worth it in 2014?

Blogger

Is Chase Freedom worth it in 2014?

Yes, 2014.

 

With all the talk of the 10-10 being "discontinued" by the end of 2013, I have been deliberating between applying for the CSP or not.

I'll be traveling a lot more starting after this summer. I currently possess a Chase Freedom 10-10 and a Chase Hyatt VISA. Right now it makes 0 sense for me to spend on the Hyatt card because it'd take me forever to even get a free room. Yet, with the Freedom, I could get a Cat 1 room in less than 2 months, IF I had a CSP to go with it.

 

Yet, I don't want to just apply for the CSP only to reap the benefits for 9 months of taking advantage of the UR transfer.

 

Will the 10-10 program be gone altogether, or will some other iteration of it still exist after 2013?

I just don't want my Freedom to turn into my Discover card, where I simply use it for the 5% Categories and nothing else.

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Message 1 of 6
5 REPLIES
Established Contributor

Re: Is Chase Freedom worth it in 2014?


FrugalRican wrote:

Yes, 2014.

 

With all the talk of the 10-10 being "discontinued" by the end of 2013, I have been deliberating between applying for the CSP or not.

I'll be traveling a lot more starting after this summer. I currently possess a Chase Freedom 10-10 and a Chase Hyatt VISA. Right now it makes 0 sense for me to spend on the Hyatt card because it'd take me forever to even get a free room. Yet, with the Freedom, I could get a Cat 1 room in less than 2 months, IF I had a CSP to go with it.

 

Yet, I don't want to just apply for the CSP only to reap the benefits for 9 months of taking advantage of the UR transfer.

 

Will the 10-10 program be gone altogether, or will some other iteration of it still exist after 2013?

I just don't want my Freedom to turn into my Discover card, where I simply use it for the 5% Categories and nothing else.


They have a pretty good rewards mall, so it isn't a total loss.  It's still a great combination and better than using the Freedom solo. 

Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward,
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape
Message 2 of 6
Valued Contributor

Re: Is Chase Freedom worth it in 2014?

Even if/when the 10 points per swipe bonus goes away, Freedom will likely remain my everyday spending card. It will still earn 1.1% (with the Chase Exclusives bonus) and with transferring to United or Hyatt, I'll be getting at least 3% in value. The 5% bonus categories will of course continue to be valuable. The loss of the 10 points will change my behavior slightly though: any dining or travel expense will go on my CSP, whereas right now dining and travel expenses have to be >$10 to go on CSP.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
Message 3 of 6
Established Contributor

Re: Is Chase Freedom worth it in 2014?

The UR mall + 5% categories + 10% annual dividends will still make Chase Freedom a very attractive card. As Bribro previously mentioned, it will remain my everyday card as well.
TU FICO: 772 (Discover) • Exp FICO: 772 (Citi)

Amex BCE $13K | Amex Costco TE $10.4K | Amex SPG $5K | Chase Freedom Visa Signature $15K | Chase Sapphire Preferred Visa Signature $15K | Chase Ink Plus World Elite MC $5K | Citi TY Preferred World MC $10.1K | Citi Forward $10K | Citi Diamond Pref $7.6K | Discover IT $9.9K | JP Morgan Chase Select Visa Signature $9.2K | NFCU CashRew Visa Sig $25K | NFCU LOC $15K | NFL Visa Signature (Saints) $8.1K | USAA Amex $11.3K | USAA World MC $11.5K
Message 4 of 6
Established Contributor

Re: Is Chase Freedom worth it in 2014?

10% will always remain +10 is going away it seems but few got grandfathered in for a while, but regardless since 5% for Chase is always 

 

Chase > Discover  since Discover is just cash back, and Chase points are MUCH more valuable since it has the flexibility that Discover doesn't have. For my purposes

 

Chase Freedom is like a 25% cash back category since each point gets me 4 cent redemption every year flying United from Tampa to Asia. (65k = $2,800 ticket high season) 4.3 cents per point in this case.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 5 of 6
Blogger

Re: Is Chase Freedom worth it in 2014?

Thanks guys. I still think the Freedom ---> CSP ---> Hyatt might still be worth it.

I'd have to spend about $2,500 in dining to even get a category 1 hotel for one night.

For much less in overall spending, I could do the same, that's why I ask. I'm still thinking about going and applying at a branch.

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Message 6 of 6