topic Re: Time to dump/SD Chase Freedom, or...? in Credit Cards

Time to dump/SD Chase Freedom, or...?

steve23111 — Sat, 29 Apr 2017 21:15:53 GMT

I've had a Chase Freedom card for a few years and very rarely ever use it. The rotating categories have so much overlap with my Discover It, and Discover cash back is so much easier to redeem (no minimum). It wouldn't hurt me to close the card, and it's probably not doing much help keeping it open.

Are there any Chase products I might want to look into as a program change, or should I just throw this one in the sock drawer?

My cards:

AMEX Blue Cash Preferred - reporting back to 2000, CL $18,200
AMEX Zync - reporting back to 2000
AMEX Clear - reporting back to 2000, CL $5,000
Chase Freedom - opened 2012, CL $6,000
Chase Amazon Prime - opened 2012, CL $6,000
Discover It - opened 2013, CL $18,000
REI Mastercard - opened 2016, CL $22,500
PayPal MC - opened 2011, CL $7,500
BB&T Visa - opened 2010, CL $2,500

The BCP and Discover It are my everyday spenders. I work the cash back programs and since 2010 have racked up just over $5900 in cash back/cash equivalent rewards. I'm not interested in points programs.

I don't know why I'm so specifically unhappy with the Chase Freedom. Heck, the PayPal card has been SD'd for years, but I am still more interested in doing something with this darn Freedom card.

Thoughts?

Re: Time to dump/SD Chase Freedom, or...?

Anonymous — Sat, 29 Apr 2017 22:14:35 GMT

Are you interested in the CSP or CSR of the Freedom Unlimited? If not, then SD or close it.

Re: Time to dump/SD Chase Freedom, or...?

steve23111 — Sat, 29 Apr 2017 23:26:24 GMT

@NRB525 wrote:
Q2 on Freedom is Groceries, at 5% if not transferred as UR points, so that is better than either BCP or Discover, at least for Q2, right?

Nope. BCP is 6% on groceries year-round.

Re: Time to dump/SD Chase Freedom, or...?

NRB525 — Sat, 29 Apr 2017 23:34:06 GMT

@steve23111 wrote:
@NRB525 wrote:
Q2 on Freedom is Groceries, at 5% if not transferred as UR points, so that is better than either BCP or Discover, at least for Q2, right?
Nope. BCP is 6% on groceries year-round.

Yes, which is why I blanked it out

However Freedom has no AF, so the rewards of the BCP are cut down by the $95 AF. If you cap out on the $6k grocery spend, then switching to the Freedom in the appropriate quarter ensures you pick up that 5% for some balance over the $6k during the rest of the year.

Freedom also classifies many more stores as "Groceries" where AMEX often does not. Where I shop at Fred Meyer, for lower prices, AMEX thinks it is a wholesale store, so all the AMEX "Grocery" cards (PRG, EDP, Hilton) dont get any extra points, unless I'm at some other grocery store.

Re: Time to dump/SD Chase Freedom, or...?

mongstradamus — Sat, 29 Apr 2017 23:44:51 GMT

If you aren't ever going to use your UR for travel with either CSP or CSR then SD it. Also its not really fair to compare freedom to BCP since BCP has a 95 dollar annual fee, and you have to have 25 dollars in cash back to get statement credit. Freedom has no AF and you can trasnfer to cash back whenever if i remember correctly. Also freedom is "real" cashback as opposed to being statement credit.

With all that being said if the 5% categories never match up for you then you can just SD it, if you don't see your self ever using that card.

Re: Time to dump/SD Chase Freedom, or...?

Anonymous — Sat, 29 Apr 2017 23:56:08 GMT

There is no minimum to redeem the Chase points as well. Discover does have good redemption options for gift cards and a better website to redeem, but on a pure cashback perspective, there is nothing separating the two.

Also, there is a some amount of difference between categories, for example this quarter it is groceries and drugstores for the Freedom and Wholesale clubs for the it. Given that both these cards cap out at a maximum of 1500 per quarter the 5%, it makes sense to use both the cards, especially if you do lots of Amazon shopping at the end of the year or the like. If you really want to use another card for general spending, you could PC to the FU for the fixed 1.5%, but you would also have to make that a daily spend card.