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New Member
cmh03
Posts: 3
Registered: ‎02-04-2013
0

Two Chase Freedom Cards

Hi everybody, long time credit user new to really understanding how credit works. After reading on here and learning a lot about credit, I have a question.

I have two Chase freedom cards both were other chase cards that where fazed out and PC to freedoms.

I was thinking of closing one, because I don't really see the point of having two of the same cards. I'm just no sure which one to close.

Chase Freedom 1 - $2400 cl 18% apr opened in 2006
Chase Freedom 2 $8000 cl 9% apr opened in 2009

So if I close freedom 1 get a lower apr but lose the extra years of history on it and if I close freedom 2 I get a higher apr but keep the extra history.

I'm thinking of closing freedom 1, because I'd rather have the low apr if I needed to float a balance in the future. And by the time it were to fall off my credit report all my other accounts will have matured.

What do you guys think close freedom 1, close freedom 2, or just leave both open?

Thanks for your advice.

Cards: Cap1 Cash Rewards 3K, Best Buy 1.5k, Chase Freedom 8k, Chase Freedom 2.4k, Discover it 5.5k, PenFed Platinum Rewards 3K, Amex Green NPSL
Valued Contributor
Swapmeet
Posts: 1,569
Registered: ‎11-10-2012
0

Re: Two Chase Freedom Cards

Welcome to the boards, first of all. Secondly, I would take the higher interest one, I think that you said it was at 18ish, and ask to product change it to the Chase sapphire preferred. Kick these rewards into the next level with the Chase 1-2 punch.



My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008
0

Re: Two Chase Freedom Cards

Do you carry a balance in long periods of time? Have you called Chase to ask for a interest rate reduction?

 

If you close you Chase from 2006 it will still report as good history.

 

I would call Chase to ask if you are able to combine accounts first in order to make the determination. 

 

But if you dont carry a balance and PIF then I would transfer your newest Freedom to your old Freedom.  


$100K in Credit
Last Credit Card App: 11/16/13
Frequent Contributor
Imua
Posts: 292
Registered: ‎01-17-2009
0

Re: Two Chase Freedom Cards

are the both the same 'flavor' (ie MC, VISA)?

if different, i would keep them both (but maybe try to get APR for #1 reduced to match APR of #2)

if the same, i would ask for the CLs to be combined and close #1 (higher APR) and ask if you can keep the 'card member date' of #1 ... but only keep #2 open.

 

can't hurt to ask :smileyhappy:

well, maybe a HP, but it would be worth it (imo) if it got you what you want

 


BofA visa $9.4k ... BofA Cash Rewards visa sig $10k ... Cap 1 Venture1 visa sig $10k ...
Chase Freedom visa $10k ... Macy's $1.5k ... Macy's Amex $5k ... Sam's Club $6.3k
myFICOs as of 3/25/14:...EX=809 .... EQ=802....TU=787
New Member
cmh03
Posts: 3
Registered: ‎02-04-2013
0

Re: Two Chase Freedom Cards

I hadn't thought to PC to a CSP, thought that it was more of a travel card and I don't fly much.

I don't carry a balance often mostly PIF. I talked to chase earlier today they said no to an apr reduction at this time, but said that I could combine if I wanted to. Both are visa

I'll call tomorrow and see about combining and if they would backdate.

Thanks for the advice.

Cards: Cap1 Cash Rewards 3K, Best Buy 1.5k, Chase Freedom 8k, Chase Freedom 2.4k, Discover it 5.5k, PenFed Platinum Rewards 3K, Amex Green NPSL
Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008
0

Re: Two Chase Freedom Cards


cmh03 wrote:
I hadn't thought to PC to a CSP, thought that it was more of a travel card and I don't fly much.

I don't carry a balance often mostly PIF. I talked to chase earlier today they said no to an apr reduction at this time, but said that I could combine if I wanted to. Both are visa

I'll call tomorrow and see about combining and if they would backdate.

Thanks for the advice.

CSP is geared towards travel so if you like other rewards than travel I would stick with the Freedom. 


$100K in Credit
Last Credit Card App: 11/16/13
Valued Contributor
kevinjjc
Posts: 1,331
Registered: ‎01-14-2009
0

Re: Two Chase Freedom Cards

In my opinion, move some of your limits to Freedom # 1, then convert it to a Chase Sapphire Preferred or another Chase card you're interested in.
Valued Contributor
creditnocash
Posts: 2,255
Registered: ‎07-23-2012
0

Re: Two Chase Freedom Cards


kevinjjc wrote:
In my opinion, move some of your limits to Freedom # 1, then convert it to a Chase Sapphire Preferred or another Chase card you're interested in.

x2

 

or if you really dont want another chase card 

move all limit except 500 from card two to one

then close 2 

 

the card will report as a good for 10 years!

Current: Discover Fico 701 10/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/26/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Valued Contributor
bribro
Posts: 1,367
Registered: ‎04-20-2012
0

Re: Two Chase Freedom Cards

I would keep both the Freedoms, especially if one is Visa and the other is MasterCard. This will allow you to effectively double the $1,500 per quarter 5% bonus cap.

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)
Valued Contributor
bribro
Posts: 1,367
Registered: ‎04-20-2012
0

Re: Two Chase Freedom Cards

[ Edited ]

Additionally, if you PC into a CSP, you are losing out on the massive 40K sign-up bonus.

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)

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