topic Re: Chase Freedom Unlimited in Credit Cards

Chase Freedom Unlimited

red259 — Sun, 28 Feb 2016 17:37:06 GMT

There is speculation going around on some blogs that there are changes coming to the Freedom card. That they are going to get rid of the 5x category and turn the card into a 1.5 point per dollar card on all spend and change the name to Chase Freedom Unlimited. Anyone else hear about this?

Re: Chase Freedom Unlimited

Anonymous — Sun, 28 Feb 2016 17:42:09 GMT

no. i don't see that happening but if that's the case then i have no use for it. there are already enough 1.5% cards out there (QS, NFCU cashRewards, barclaycard cash forward...) sure there are more

Re: Chase Freedom Unlimited

kdm31091 — Sun, 28 Feb 2016 17:42:49 GMT

I wouldn't be surprised. In general, most consumers hate the rotating category thing, and prefer the straightforward cards. It makes sense for Chase to move away from the rotating thing.

Now, on a cash back basis, 1.5% is just average and there's many options out there. The differentatior would be if it's 1.5% in cash or if it's still going to be UR points. Travel enthusiasts would be excited if it were 1.5 UR (though many still won't be approved for a long time under 5/24), but 1.5% cash is not especially standout or exciting.

I'd take it as a rumor for now, but again, would not be surprised as most consumers are not a fan of rotating categories.

Re: Chase Freedom Unlimited

Anonymous — Sun, 28 Feb 2016 17:43:43 GMT

lol kdm you and i think the opposite.

Re: Chase Freedom Unlimited

kdm31091 — Sun, 28 Feb 2016 17:49:57 GMT

@Anonymous wrote:
lol kdm you and i think the opposite.

1.5% cash is pretty "boring" to people like us, but plenty of consumers don't want to spend time thinking about "this card for this, that card for that", so the banks are responding to that. 1.5% cash seems to be within profitable range enough to be sustainable with the many 1.5% cards out there, so banks probably prefer it to the 5% rotating thing.

Re: Chase Freedom Unlimited

NRB525 — Sun, 28 Feb 2016 17:49:18 GMT

Doing a little research, the source of the rumor says that it is basically a new product, "Chase Freedom Unlimited". It could be a quick / near term rollout as a new product, or replacement product.

Existing Freedom cardholders ("Chase Freedom") would keep the 5% rotating categories, which makes sense since they published those for 2016 already. These 5% categories would likely continue, until nerfed.

Whether the "Unlimited" version earned UR points or plain cash back is an open question.

Just one more reason for me to continue to lean on my Freedom card while the 10 points per swipe still shows up on my statement.

Re: Chase Freedom Unlimited

Anonymous — Sun, 28 Feb 2016 17:49:39 GMT

they want their cards to appeal to an "everyday" market but realistically if everyone does the 1.5% thing then it's redundant

Re: Chase Freedom Unlimited

kdm31091 — Sun, 28 Feb 2016 17:50:18 GMT

@NRB525 wrote:
Doing a little research, the source of the rumor says that it is basically a new product, "Chase Freedom Unlimited". It could be a quick / near term rollout as a new product, or replacement product.

Existing Freedom cardholders ("Chase Freedom") would keep the 5% rotating categories, which makes sense since they published those for 2016 already. These 5% categories would likely continue, until nerfed.

Whether the "Unlimited" version earned UR points or plain cash back is an open question.

Just one more reason for me to continue to lean on my Freedom card while the 10 points per swipe still shows up on my statement.

Reading some of the speculation I'd expect this would be 1.5% in plain cash and not UR points. They now say you can "redeem any amount anytime", which seems more likely to mean that this is cash and not points. Could be wrong, but with how hard Chase has cracked down on UR point earning, it wouldn't shock me.

Re: Chase Freedom Unlimited

red259 — Sun, 28 Feb 2016 17:50:23 GMT

@Anonymous wrote:
no. i don't see that happening but if that's the case then i have no use for it. there are already enough 1.5% cards out there (QS, NFCU cashRewards, barclaycard cash forward...) sure there are more

It would be useful to people who collect URs to transfer to travel partners. Right now I use the freedom card only on 5x categories. My everyday non-cat spend goes on my amex everydayand I was thinking about switching over to the amex everyday preferred card, but with these changes the freedom card would give me the same earn rate as the amex everyday preferred card which has an AF. Therefore if these changes occur I will ikely look into moving all my non-cat spend to the freedom card.

Re: Chase Freedom Unlimited

Anonymous — Sun, 28 Feb 2016 17:51:49 GMT

I've always wondered if the Discover Double Cash promotion isn't a front for something similar.

With the categories they were offering in the 4th quarter, I'd probably prefer 1.5% cash back over that. With that happening I wouldn't need a general spend card like the EDP. I do wonder how it would affect "the combo" with CSP.

Re: Chase Freedom Unlimited

Anonymous — Sun, 28 Feb 2016 17:53:12 GMT

just got off the phone with them. they're converting existing freedoms into the freedom unlimited.

Re: Chase Freedom Unlimited

Anonymous — Sun, 28 Feb 2016 17:54:12 GMT

With APR going up already...they might as well do 3% unlimited and call it a day.

Re: Chase Freedom Unlimited

red259 — Sun, 28 Feb 2016 17:58:28 GMT

@kdm31091 wrote:
@NRB525 wrote:
Doing a little research, the source of the rumor says that it is basically a new product, "Chase Freedom Unlimited". It could be a quick / near term rollout as a new product, or replacement product.

Existing Freedom cardholders ("Chase Freedom") would keep the 5% rotating categories, which makes sense since they published those for 2016 already. These 5% categories would likely continue, until nerfed.

Whether the "Unlimited" version earned UR points or plain cash back is an open question.

Just one more reason for me to continue to lean on my Freedom card while the 10 points per swipe still shows up on my statement.
Reading some of the speculation I'd expect this would be 1.5% in plain cash and not UR points. They now say you can "redeem any amount anytime", which seems more likely to mean that this is cash and not points. Could be wrong, but with how hard Chase has cracked down on UR point earning, it wouldn't shock me.

I don't think the language suggests that they would not allow you to transfer URs to travel partners (assuming you have the CSP/Ink cards to do so). If Chase did something like that then I think it would result in a heavy drop in usage. The poijnts crowd would never use the the freedom and the cashback crowd would have better non-AF options.

Re: Chase Freedom Unlimited

kdm31091 — Sun, 28 Feb 2016 17:59:06 GMT

@Anonymous wrote:
just got off the phone with them. they're converting existing freedoms into the freedom unlimited.

They are probably tired of people just using the card for 5% and nothing else. That's why most 5% cards have either been discontinued or nerfed considerably.

@Anonymous Wouldn't be surprised to see Discover follow suit at some point. Again, most consumers aren't fans of the rotating stuff. Most people don't want to spend mental effort thinking about which card to use for what.

Re: Chase Freedom Unlimited

red259 — Sun, 28 Feb 2016 17:59:33 GMT

@Anonymous wrote:
just got off the phone with them. they're converting existing freedoms into the freedom unlimited.

That is just awesome that you are soo intense about credit cards that you immediately called the bank to ask what they are doing.

Re: Chase Freedom Unlimited

Discover2016 — Sun, 28 Feb 2016 18:00:42 GMT

@Anonymous wrote:
just got off the phone with them. they're converting existing freedoms into the freedom unlimited.

When is this happening?

Re: Chase Freedom Unlimited

red259 — Sun, 28 Feb 2016 18:01:37 GMT

@kdm31091 wrote:
@Anonymous wrote:
just got off the phone with them. they're converting existing freedoms into the freedom unlimited.
They are probably tired of people just using the card for 5% and nothing else. That's why most 5% cards have either been discontinued or nerfed considerably.

@Anonymous Wouldn't be surprised to see Discover follow suit at some point. Again, most consumers aren't fans of the rotating stuff. Most people don't want to spend mental effort thinking about which card to use for what.

Yes, I'm sure they looked at what Amex was doing with the everyday cards and thought that was a good idea to become the main card in people's wallets.

Re: Chase Freedom Unlimited

red259 — Sun, 28 Feb 2016 18:02:35 GMT

@Discover2016 wrote:
@Anonymous wrote:
just got off the phone with them. they're converting existing freedoms into the freedom unlimited.
When is this happening?

I heard in March, but don't have confirmation on that,

Re: Chase Freedom Unlimited

Anonymous — Sun, 28 Feb 2016 18:02:49 GMT

okay. so i called again and spoke to an american native and she stated that they are going to run the two cards side by side. the freedom will be separate than the freedom unlimited. they are not doing away with existing freedoms with 5% categories and she sounded like she was more sure of her answers than the first person i talked to. so i believe stephanie over abib. lol.

Re: Chase Freedom Unlimited

kdm31091 — Sun, 28 Feb 2016 18:03:15 GMT

@Anonymous wrote:
okay. so i called again and spoke to an american native and she stated that they are going to run the two cards side by side. the freedom will be separate than the freedom unlimited. they are not doing away with existing freedoms with 5% categories and she sounded like she was more sure of her answers than the first person i talked to. so i believe stephanie over abib. lol.

I think it's best to just wait and see what happens.