topic Re: Is $150 Chase Freedom bonus worth it? Wait for $200? in Credit Cards

Is $150 Chase Freedom bonus worth it? Wait for $200?

Anonymous — Sat, 30 Sep 2017 04:55:23 GMT

I really want to get the Freedom soon, so I can build a relationship in preparation for a CSP for next summer. I heard the Chase Freedom has historically had a $200 (or even $250/$300) bonus. Do these bonuses happen once a year? Does Chase usually do higher bonuses in Q4? Should I wait?

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

Anonymous — Sat, 30 Sep 2017 09:40:19 GMT

If I had to speculate, any increased bonuses would not be on the freedom. They haven't been pushing it for a long time, especially compared to the fu. Do you bank with them? I do, which is why in-branch I got a 300/500 bonus on my fu. I may PC that to regular freedom down the road if I get a better non-category card.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

UpperNwGuy — Sat, 30 Sep 2017 16:12:29 GMT

I agree with GrasshopperStudent. Chase may never offer a better bonus on the Freedom. All the indications are that Chase is losing money on this card. When they introduced the Freedom Unlimited in early 2016, the customer services reps were warning Freedom customers that their Freedom cards would soon be migrated to the Freedom Unlimited card. They backed off that plan before it was formally announced or implemented because of the blowback from customers. However, three months ago, Chase did a survey of cardholders to compare three different methods of devaluing the transfer of Ultimate Rewards points from no-fee cards to premium cards. It was pretty obvious that they were targeting the 5% cards (Freedom and Ink Cash) because the transfers are increasing the 5% to 7.5%. The Freedom Unlimited transfers only increase the 1.5% to 2.25% which still allows Chase to make a small profit on each transaction.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

Anonymous — Sat, 30 Sep 2017 14:29:27 GMT

So I am not a Chase customer, but do have a couple branches nearby. Should I try my luck at an in-branch pre-qual and just take the card at $150? Do you think it would be better to get the FU since it seems like the Freedom is losing them money and they might do something about it?

I already have a Quicksilver 1.5% back, and a DISCOVER 5% categories, and Amex BCE. Was really wanting to get the CSP next year, and start building a relationship with them and pooling up UR's, so I could have a decent amount for a vacation with the sign-up bonus.

I see that they recently re-did the design, so I don't see the card going anywhere. And devaluations would only give business to Discover (and possibly, US Bank) for their 5% cards. I also have been hearing about in branch pre-quals for $300 bonus.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

kdm31091 — Sat, 30 Sep 2017 14:50:56 GMT

While nothing has been formally announced, it has long been speculated the original Freedom's days are numbered, meaning it's unlikely the bonus will be increased. They have pushed the Freedom Unlimited a lot more. The 5x categories on Freedom are not profitable especially when you take point transfers into account.

If you want the card, I would just go for it instead of waiting for an extra $50 that may never happen. They did just redesign the card, but IMO banks don't seem to favor the 5x thing anymore and I don't see these types of programs lasting too much longer in general. Consumers (everyday ones, not card/reward conscious ones) also don't like hassling with rotating categories.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

Anonymous — Sat, 30 Sep 2017 15:47:41 GMT

Go for it now. Waiting for an extra $50 that may never come isn't worth it to me. Even if they do cancel it in the future, they'll most likely product change you to the Freedom Unlimited anyway. Might as well go for it now and get some use of the 5x categories while they're still there.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

LadyJEsq — Sat, 30 Sep 2017 16:04:00 GMT

@kdm31091 wrote:
While nothing has been formally announced, it has long been speculated the original Freedom's days are numbered, meaning it's unlikely the bonus will be increased. They have pushed the Freedom Unlimited a lot more. The 5x categories on Freedom are not profitable especially when you take point transfers into account.

If you want the card, I would just go for it instead of waiting for an extra $50 that may never happen. They did just redesign the card, but IMO banks don't seem to favor the 5x thing anymore and I don't see these types of programs lasting too much longer in general. Consumers (everyday ones, not card/reward conscious ones) also don't like hassling with rotating categories.

The card/reward conscious ones don't like dealing with them either. At least this one doesn't. It's a pain to have to remember to do it for each CC for each quarter and trying to decide which, when the ones offered in a particular quarter aren't all that great.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

UpperNwGuy — Sat, 30 Sep 2017 16:27:04 GMT

paintball94 wrote:
I see that they recently re-did the design, so I don't see the card going anywhere. And devaluations would only give business to Discover (and possibly, US Bank) for their 5% cards. I also have been hearing about in branch pre-quals for $300 bonus.

I think you're missing my point. The problem with the Freedom is not the 5% rotating categories as such. It is the (current) ability to transfer the points from Freedom to one of the premium cards (Sapphire Preferred or Sapphire Reserve) and increase the 5% to 6.25% or 7.5%. Neither Discover nor US Bank offers the ability to increase the value of their 5% bonuses like Chase (currently) does. Also, neither Discover or US Bank offer both supermarkets and restaurants as quarterly bonus categories, but Chase still does, which makes Freedom a better card than the similar Discover and US Bank cards.

Bottom line: Freedom will stick around, but Chase won't heavily promote it with better signup bonuses, and the ability to transfer points to premium Chase cards may soon disaappear or be devalued. In other words, the so-called "Chase trifecta" that the travel bloggers promote may not make sense much longer.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

Anonymous — Sat, 30 Sep 2017 20:20:09 GMT

Guys, so I went in branch and did an in-branch pre-qualify and nothing came up for me, just like on their website. I'd rather wait 3-6 months rather than burning an HP. I'll put my info below, please let me know what my chances are of getting the Freedom (hopefully for a decent limit like $2K+).

6/16 Capital One Quicksilver ($300 -----> $1,250)

9/16 Fed. Student Loan ($6,500)

1/17 Amex BCE ($1,000 -----> $9,000)

3/17 Discover It ($1,000 -----> $1,900)

My scores are: 731 EX (2 inq), 725 TU (3 inq), and ~708 EQ (3 inq).

1% util, no baddies. AAoA = 11 months; Oldest acct. = 16 months.

Income ~$45k

What do you guys think?

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

UpperNwGuy — Sat, 30 Sep 2017 23:19:18 GMT

I think you should go into the garden and get your scores above 750 before applying for additional cards.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

Anonymous — Sun, 01 Oct 2017 01:59:17 GMT

They were increasing super fast, then in June they hit 730, and have basically stayed there for 4 months. Im not sure how long it will take to get me to 750 if they continue to grow at the most recent pace.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

kilroy8 — Sun, 01 Oct 2017 02:35:22 GMT

@Anonymous wrote:
Guys, so I went in branch and did an in-branch pre-qualify and nothing came up for me, just like on their website. I'd rather wait 3-6 months rather than burning an HP. I'll put my info below, please let me know what my chances are of getting the Freedom (hopefully for a decent limit like $2K+).

6/16 Capital One Quicksilver ($300 -----> $1,250)
9/16 Fed. Student Loan ($6,500)
1/17 Amex BCE ($1,000 -----> $9,000)
3/17 Discover It ($1,000 -----> $1,900)

My scores are: 731 EX (2 inq), 725 TU (3 inq), and ~708 EQ (3 inq).
1% util, no baddies. AAoA = 11 months; Oldest acct. = 16 months.
Income ~$45k

What do you guys think?

It must be your AAoA, I just got one with about the same scores as you, and a lot more inq's. My oldest account = 15 years.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

Anonymous — Sun, 01 Oct 2017 14:29:56 GMT

@UpperNwGuy wrote:
paintball94 wrote:
I see that they recently re-did the design, so I don't see the card going anywhere. And devaluations would only give business to Discover (and possibly, US Bank) for their 5% cards. I also have been hearing about in branch pre-quals for $300 bonus.
I think you're missing my point. The problem with the Freedom is not the 5% rotating categories as such. It is the (current) ability to transfer the points from Freedom to one of the premium cards (Sapphire Preferred or Sapphire Reserve) and increase the 5% to 6.25% or 7.5%. Neither Discover nor US Bank offers the ability to increase the value of their 5% bonuses like Chase (currently) does. Also, neither Discover or US Bank offer both supermarkets and restaurants as quarterly bonus categories, but Chase still does, which makes Freedom a better card than the similar Discover and US Bank cards.

Bottom line: Freedom will stick around, but Chase won't heavily promote it with better signup bonuses, and the ability to transfer points to premium Chase cards may soon disaappear or be devalued. In other words, the so-called "Chase trifecta" that the travel bloggers promote may not make sense much longer.

If Chase does this, I hope they'd raise the point-earning power of the Sapphires. Those cards don't earn enough UR on their own to justify their annual fees IMO. They're only valuable (to me) with the Freedoms feeding UR to them.

I hope they don't devalue the trifecta. I have my sights on a new CSP, or possibly a CSR in a couple of years. Had a CSP and closed it like a fool. If the UR system has changed by the time I'm ready though, or shows signs of changing, I may be shopping around elsewhere for a premium travel rewards card. Capital One Venture with a nice sign-up bonus, 2X on every purchase, extremely flexible travel redemption, and a $59 AF is attractive as heck.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

Anonymous — Sun, 01 Oct 2017 15:44:18 GMT

@Anonymous wrote:
@UpperNwGuy wrote:
paintball94 wrote:
I see that they recently re-did the design, so I don't see the card going anywhere. And devaluations would only give business to Discover (and possibly, US Bank) for their 5% cards. I also have been hearing about in branch pre-quals for $300 bonus.
I think you're missing my point. The problem with the Freedom is not the 5% rotating categories as such. It is the (current) ability to transfer the points from Freedom to one of the premium cards (Sapphire Preferred or Sapphire Reserve) and increase the 5% to 6.25% or 7.5%. Neither Discover nor US Bank offers the ability to increase the value of their 5% bonuses like Chase (currently) does. Also, neither Discover or US Bank offer both supermarkets and restaurants as quarterly bonus categories, but Chase still does, which makes Freedom a better card than the similar Discover and US Bank cards.

Bottom line: Freedom will stick around, but Chase won't heavily promote it with better signup bonuses, and the ability to transfer points to premium Chase cards may soon disaappear or be devalued. In other words, the so-called "Chase trifecta" that the travel bloggers promote may not make sense much longer.

If Chase does this, I hope they'd raise the point-earning power of the Sapphires. Those cards don't earn enough UR on their own to justify their annual fees IMO. They're only valuable (to me) with the Freedoms feeding UR to them.

I hope they don't devalue the trifecta. I have my sights on a new CSP, or possibly a CSR in a couple of years. Had a CSP and closed it like a fool. If the UR system has changed by the time I'm ready though, or shows signs of changing, I may be shopping around elsewhere for a premium travel rewards card. Capital One Venture with a nice sign-up bonus, 2X on every purchase, extremely flexible travel redemption, and a $59 AF is attractive as heck.

The Venture makes sense only for the sign up bonus in the first year (or if you have a lot of transactions that would charge FTF). Otherwise it is just a 2% card, with an AF and restrictions on redemptions. Don't understand the attraction. And there are alternatives now for no FTF as well.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

Anonymous — Sun, 01 Oct 2017 16:56:24 GMT

OP, if you're goal is the CSP card, I'm not understanding why you are considering the Freedom now. I know you said to "build a relationship" with Chase now prior to applying for the CSP next summer, but I honestly don't see the point in this. I have not seen you mention actually needing (or wanting/having use) for the the Freedom. The two main reasons you seemed to be interested in it were for establishing history with Chase and the sign on bonus.

My recommendation would be to bypass the Freedom all together and just apply for the CSP, which is the card you ultimately want. Check out the credit pulls database and read some threads on here and if you feel comfortable going for it with where your profile presently stand, pull the trigger. If not, as others have suggested, sit tight and allow your scores to grow a bit first. I just don't think it's necessary to add the Freedom into the equation right now for you, but that's your call. I applied and got approved for the CSP back in May and it was my first ever Chase product. I actually plan on downgrading it to the Freedom before the AF hits, around March-April of next year.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

Anonymous — Sun, 01 Oct 2017 17:02:36 GMT

My plan is to start changing my rewards system from cash back to travel. After doing research I see that Chase UR fits me better than the alternatives (MR, TYP). I would like to get the Chase trifecta and want to start now with the Freedom to start building my UR points. Then 6-12 months down the road I'd like to get the CSP, then 2 yrs later (once Im out of college and have a steady job) pc the CSP to FU and then apply for a CSR. I would then have decent points built up and would have a way to continue to bring them in. My ultimate goal is the CSR with the Chase trifecta. I see now as an opportunity to get in with Chase. But my only worry is that I wasnt pre-qualified online or in-branch and I've already opened up 2 cards since January.

I was just considering waiting till the new year to app for the Freedom in order to wait for a pre-qual and bring my scores up.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

iced — Mon, 02 Oct 2017 14:10:10 GMT

@Anonymous wrote:
I really want to get the Freedom soon, so I can build a relationship in preparation for a CSP for next summer. I heard the Chase Freedom has historically had a $200 (or even $250/$300) bonus. Do these bonuses happen once a year? Does Chase usually do higher bonuses in Q4? Should I wait?

If you want the Freedom and will use it, go ahead and get it. In the grand scheme of things, is $50 or $100 really going to make or break you?

If you're just sitting on the fence about getting it for the bonus, then wait for a better offer to come along.

If you're getting the Freedom thinking it will somehow make getting a CSP easier, why not just apply for the CSP when you're ready instead? There's no rule saying you have to work your way up to a Sapphire product, and you remove any pressure you may have put on yourself to get the Freedom.

Re: Is $150 Chase Freedom bonus worth it? Wait for $200?

iced — Mon, 02 Oct 2017 14:31:42 GMT

@Anonymous wrote:
If Chase does this, I hope they'd raise the point-earning power of the Sapphires. Those cards don't earn enough UR on their own to justify their annual fees IMO. They're only valuable (to me) with the Freedoms feeding UR to them.

I hope they don't devalue the trifecta. I have my sights on a new CSP, or possibly a CSR in a couple of years. Had a CSP and closed it like a fool. If the UR system has changed by the time I'm ready though, or shows signs of changing, I may be shopping around elsewhere for a premium travel rewards card. Capital One Venture with a nice sign-up bonus, 2X on every purchase, extremely flexible travel redemption, and a $59 AF is attractive as heck.

3 points per dollar on dining/travel for what's effectively a $150 AF isn't only justified, it's a steal. Even 2 points per dollar for $95 is good for those who dine more and travel less. That's not even factoring in the other benefits on the Sapphire cards. You yourself admit you were a fool to close your Sapphire, so the program can't be that bad.

It may not be right for you, and that's fine, but it is right for enough people out there that I wouldn't count on Chase to make earning UR even easier than it already is.