topic Re: Chase Freedom vs Chase Freedom Plus in Credit Cards

Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 04:56:00 GMT

Someone please correct me if I'm wrong, but from what I can tell from the descriptions on the Chase website, it seems like this decision is a no-brainer. (Both of these cards have points and miles versions, but the descriptions below apply to the cash version of these cards.)

Chase Freedom

3% cash back on your top 3 spending categories each month
1% cash back on all other purchases
Maximum of $600 in spending per month can earn cash back at the 3% tier
No annual fee or rewards fee
$50 incentive with first purchase

Chase Freedom Plus

3% cash back on your top 6 spending categories each month (as opposed to 3)
1% cash back on all other purchases
No maximum on cash back at the 3% tier
$30 annual rewards fee (waived the first year)
$100 incentive with first purchase

So it appears that with the "Plus" version, you get an extra $50 just for making your first purchase. This seems to make up for the rewards fee for an additional year, plus 2/3 of the following year's fee. Meaning you effectively get to carry the card fee-free for two years instead of one, and the third year would only be an extra $10 (it would actually be $30, but only $10 would come out of your pocket since you got an extra $50 with the first purchase).

During that three-year period, you get the benefit of no caps on your 3% rewards and you get that rate in the top six categories instead of the top three.

If someone were planning to apply for Chase Freedom anyway, is there any reason not to give the Chase Freedom Plus a try for at least the first three years?

Message Edited by cheddar on 07-06-2008 09:56 PM

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 04:56:28 GMT

That's an excellent catch. Even after the first year with the $30 fee assessed, if I ran all of my purchases through that card all year, I think we're talking some serious cash back.

I might have to call and see if they can switch me. However, I do stress that the normal Freedom card is an awesome credit card and I highly recommend it.

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 05:00:19 GMT

seems like a no-brainer to me-

I just got a pre-approved offer for a Plat business card from Chase- the terms are better than the website-

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 05:05:50 GMT

FretlessMayhem wrote:
That's an excellent catch. Even after the first year with the $30 fee assessed, if I ran all of my purchases through that card all year, I think we're talking some serious cash back.

I might have to call and see if they can switch me. However, I do stress that the normal Freedom card is an awesome credit card and I highly recommend it.

I think the "catch," so to speak, is that the Chase Freedom categories are very specific once you get past the first three or four (supermarkets, drugstores, gas & convenience stores, quick-service restaurants), and not every purchase falls into one of those categories at all. For most people the vast majority of their monthly expenses probably fall into 3-4 categories, and adding an additional three categories for the 3% tier will probably not end up to be very much additional cash back.

Video rentals, movie theaters, and dry cleaners are three of those categories, for example (those have always seemed kind of odd to me), but there is no category for normal sit-down restaurants, bookstores, electronics stores, and so on. It would be interesting to see how much additional cash back one could get by adding three more "categories."

Message Edited by cheddar on 07-06-2008 10:05 PM

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 09:54:22 GMT

The Chase Freedom Plus card appears to be the best choice for an individual applying for a new Chase account.

If you're an existing Chase cardholder, and wish to do a product change to the Chase Freedom card, you'd have to weigh the costs and benefits between the regular Chase Freedom and the Chase Freedom Plus cards. When I changed my Chase Free Cash Rewards card to the regular Chase Freedom card, I wasn't offered any new account holder incentives, such as a $50 credit after my first purchase, etc. I'm uncertain if Chase would waive the Plus version's $30 annual fee for the first year for existing Chase cardholders wishing to do a product change.

However, if I wanted to apply for a new Chase Freedom account, I certainly would choose the Chase Freedom Plus, and give it a try for at least 3 years!

Message Edited by psychic on 07-07-2008 02:54 AM

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 12:34:58 GMT

I've herd that now you can have 6 just by having a checking account with them

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 13:18:02 GMT

psychic wrote:

The Chase Freedom Plus card appears to be the best choice for an individual applying for a new Chase account.

If you're an existing Chase cardholder, and wish to do a product change to the Chase Freedom card, you'd have to weigh the costs and benefits between the regular Chase Freedom and the Chase Freedom Plus cards. When I changed my Chase Free Cash Rewards card to the regular Chase Freedom card, I wasn't offered any new account holder incentives, such as a $50 credit after my first purchase, etc. I'm uncertain if Chase would waive the Plus version's $30 annual fee for the first year for existing Chase cardholders wishing to do a product change.

However, if I wanted to apply for a new Chase Freedom account, I certainly would choose the Chase Freedom Plus, and give it a try for at least 3 years!

Message Edited by psychic on 07-07-2008 02:54 AM

Thanks for making that distinction, psychic! That's an excellent point.

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 13:19:33 GMT

rbbyrbsn wrote:
I've herd that now you can have 6 just by having a checking account with them

Are you saying that that you can get 3% cash back on your top six categories if you have a standard Chase Freedom account along with a checking account with Chase ?

Those rewards are probably still capped, though, right?

Message Edited by cheddar on 07-07-2008 06:19 AM

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 14:03:10 GMT

@Anonymous wrote:

@Anonymous wrote:
I've herd that now you can have 6 just by having a checking account with them

Are you saying that that you can get 3% cash back on your top six categories if you have a standard Chase Freedom account along with a checking account with Chase ?

Those rewards are probably still capped, though, right?

Message Edited by cheddar on 07-07-2008 06:19 AM

According to chase.com/exclusives:

"The Chase Freedom credit card rewards 3% cash back or 3 points per $1 on the first $600 in purchases in the top 3 of 15 Everyday categories where you spend the most each month. Chase checking account customers will earn 3% cash back or 3 points per $1 on the first $600 in purchases in the top 5 of 15 Everyday categories. That's 2 additional Everyday categories. If you are an existing Chase Freedom credit cardmember and a Chase checking customer, your account will be upgraded to these new benefits; a confirmation letter will be mailed when this takes place in June, 2008. To apply for Chase Freedom with the exclusive benefits for Chase checking customers, or to learn more including pricing and reward program terms, see a Chase branch banker. Restrictions apply. Subject to credit approval. Chase credit cards are issued by Chase Bank USA, N.A. There are 15 Everyday categories consisting of grocery stores (that are not affiliated with or departments of superstores, warehouse clubs or discount stores), gas & convenience stores, quick service payment/fast food restaurants, telecommunications, cable/satellite TV/Internet Service Providers, video rentals, department stores, dry cleaners, drug stores, movie theatres, local and suburban commuter passenger transportation (including ferries, bridges, tolls, parking garages, taxis/limos), pet supply stores and veterinary services, utilities, beauty shops (salons and spas), or gym/recreation memberships. Benefits will no longer apply if, at any time, the checking account is closed."

So still capped and is top 5 categories.

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 17:26:35 GMT

I'm having trouble getting $600 a month to qualify for ANY categories, much less the top 3 or 6. If you have a family this might be something to consider, as you could come close to $600 just at the supermarket, lol. For my scenario, however, I'll stick to the standard.

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 19:58:28 GMT

thrasher865 wrote:
I'm having trouble getting $600 a month to qualify for ANY categories, much less the top 3 or 6. If you have a family this might be something to consider, as you could come close to $600 just at the supermarket, lol. For my scenario, however, I'll stick to the standard.

how it the max 2% per month is $12 ie $600 to get that $12 month you just spend $600 on any mix of 3 or 6 catogories

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 20:02:52 GMT

Cheddar--

Isn't this a moot point since you're still checked in at the 'center'?

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 20:12:29 GMT

rbbyrbsn wrote:

thrasher865 wrote:

I'm having trouble getting $600 a month to qualify for ANY categories, much less the top 3 or 6. If you have a family this might be something to consider, as you could come close to $600 just at the supermarket, lol. For my scenario, however, I'll stick to the standard.

how it the max 2% per month is $12 ie $600 to get that $12 month you just spend $600 on any mix of 3 or 6 catogories

Yes, but if you don't have $600 per month in expenses in any of their categories, that could be difficult to do. This goes to what I was saying earlier about how many purchases don't even fall into any category at all.

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 20:12:47 GMT

WhirledPeasPlease wrote:

Cheddar--

Isn't this a moot point since you're still checked in at the 'center'?

Yep. Purely in the interest of research.

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Mon, 07 Jul 2008 20:15:35 GMT

cheddar wrote:

WhirledPeasPlease wrote:

Cheddar--

Isn't this a moot point since you're still checked in at the 'center'?

Yep. Purely in the interest of research.

In that case, proceed with your research.

Re: Chase Freedom vs Chase Freedom Plus

Dawn — Thu, 17 Jul 2008 15:30:59 GMT

thrasher865 wrote:
I'm having trouble getting $600 a month to qualify for ANY categories, much less the top 3 or 6. If you have a family this might be something to consider, as you could come close to $600 just at the supermarket, lol. For my scenario, however, I'll stick to the standard.

I still get little benefit from the "top" categories since Walmart doesn't count in the grocery store category. I sometimes drive the extra mile to go to qualifying grocery store, but it's not worth it to me to spend the extra money on gas just to get more reward points.

The only thing I get the extra 2% on are gasoline purchases and rare amounts on a few other categories. I really need to quit being so stubborn and use Chase for my electric service and telephone and internet.

I have a checking account with Chase, and the only way I knew that my rewards had been upgraded to include the top five categories, was because I read the fine print on my statement. I have not yet received the "official" announcement that I understood was to come in the mail separately.

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Fri, 07 Nov 2008 12:14:37 GMT

Utilities (water, sewer, landline, electricity, sanitation, gas) and communications (cell phone, internet, cable) are a great pair of categories to target with this card. My normal monthly bills destroy the $30 annual fee (which I won't have to pay until late next year) without trying. Eventually, I'm going to see about transferring the limit (save $1k) on a normal Chase platinum MC to the Freedom Plus card.

I also have the basic checking and savings account with Chase. They're useful at times, but Chase has few branches around the US. They're more a credit institution than deposit it seems, unless you're a major investor.

Message Edited by jackelope on 11-07-2008 04:14 AM

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Fri, 07 Nov 2008 12:32:12 GMT

I attempted to get the bonus anyway, but they said no most apologetically. However, they did waive the $30 fee the first year when I converted the basic Freedom to the Plus.

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Fri, 07 Nov 2008 12:50:57 GMT

@Anonymous wrote:
Utilities (water, sewer, landline, electricity, sanitation, gas) and communications (cell phone, internet, cable) are a great pair of categories to target with this card. My normal monthly bills destroy the $30 annual fee (which I won't have to pay until late next year) without trying. Eventually, I'm going to see about transferring the limit (save $1k) on a normal Chase platinum MC to the Freedom Plus card.

Could not agree more. I actually love the categories. I have a lot of pets too and I get rewards on pet stores and veterinary purchases. That's awesome for me. I'm at my 5th statement now and will already be cashing out a $200 cash rewad for the bonus check of $250. If I can make $500 a year on this card, the $30 isn't even a issue.

Re: Chase Freedom vs Chase Freedom Plus

Anonymous — Fri, 07 Nov 2008 19:30:15 GMT

I thought about upgrading one of my Freedom cards to Freedom Plus, and was told that the $30 fee would be waived the first year. I asked if there was a $100 bonus if I converted and there wasn't. So then I asked if there was one for a new application, and there wasn't, but they gave me 10000 points ($100) anyway!

However, here's what I've been doing since I transferred my wedding balance off the one chase freedom card: one card my wife and I use at gas stations, groceries, and drugstores; the other card gets used for everything else. So we get 3% back on 6 categories, with no fee!

Yes, there is still a cap, but I'm not sure that it gets hit that often. If it does, its not $300 over to pay for the fee.

Actually, I use my discover card for the first $100 of gas, as I get 5% back for that. Lately, I haven't really gone over it much to need to switch to the freedom card.

Message Edited by Mike14 on 11-07-2008 11:30 AM