topic Re: Chase Freedom & Freedom Unl. for Cash Back Only in Credit Cards

Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 14:16:24 GMT

Here I am thinking too hard again, and looking at future credit card options. I am still going to garden until August (or longer), but I can dream!

I am wondering about how well Chase Freedom and Freedom Unlimited compliment each other when my goal is to optimize cash back. I currently have the Chase Freedom. I am not in the position to justify a card with an annual fee, so while I know that I may not be getting the full value of the Ultimate Rewards points, I am currently satisfied with using UR points for cash back.

Now, I am thinking about eventually adding the Freedom Unlimited to replace by Citi Double Cash. The Freedom Unlimited would replace the Double Cash as a general spend card, as my other cash back cards are category cards. Yes, I know I would be replacing a 2% cash back card with a 1.5% card, but this is where I also mention my eventual goal of consolidating accounts at specific lenders. The reason I would like to go with Chase over Citi is the benefits on the cards, as well as my better experience with the responsiveness of Chase customer service over Citi customer service.

So, to get to the crux of this, are Chase Freedom and Freedom Unlimited a complimentary pairing when the goal is to earn cash back? I am open to suggestions as well, as I am in the thinking stage right now.

EDIT: Here are my current cards:

Capital One Savor (grandfathered in without the AF!) - 4% dining and entertainment

TIAA Bank Rewards - 3% gas and groceries

Chase Freedom

Citi Double Cash

(Amex EveryDay and Hilton Amex are my points cards)

Re: Chase Freedom & Freedom Unl. for Cash Back Only

M_Smart007 — Thu, 26 Mar 2020 00:42:28 GMT

@Anonymous, This is just my two cents. and take it with a grain of salt.

I would try to stay lender diverse, just in case the inevitable happens.

In other words, don't keep all your marbles in one bag.

Chase has been good to Me, But Citi and a ton of other lenders have been also.

The Credit environment landscape could change over the next 6 months to a Year.

You will most likely get some other great input from the myFICO members

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 00:50:13 GMT

I have both, but I'm not sure about complimenting each other to maximize points without having a 3rd Chase card, like the Sapphire in order to get a higher rate of exchange on travel. But I'm not sure having that travel card helps much unless you travel a TON.

But for straight cash back, CFU is your everyday card. When a rotating category works for you with your CF, you use that card. You'll also have increased/duplicated Chase offers to take advantage of.

Both cards offer the same great benefits that the DC card no longer offers.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 00:57:19 GMT

@Anonymous wrote:
Here I am thinking too hard again, and looking at future credit card options. I am still going to garden until August (or longer), but I can dream!

I am wondering about how well Chase Freedom and Freedom Unlimited compliment each other when my goal is to optimize cash back. I currently have the Chase Freedom. I am not in the position to justify a card with an annual fee, so while I know that I may not be getting the full value of the Ultimate Rewards points, I am currently satisfied with using UR points for cash back.

Now, I am thinking about eventually adding the Freedom Unlimited to replace by Citi Double Cash. The Freedom Unlimited would replace the Double Cash as a general spend card, as my other cash back cards are category cards. Yes, I know I would be replacing a 2% cash back card with a 1.5% card, but this is where I also mention my eventual goal of consolidating accounts at specific lenders. The reason I would like to go with Chase over Citi is the benefits on the cards, as well as my better experience with the responsiveness of Chase customer service over Citi customer service.

So, to get to the crux of this, are Chase Freedom and Freedom Unlimited a complimentary pairing when the goal is to earn cash back? I am open to suggestions as well, as I am in the thinking stage right now.

If you are just doing cash back, going from 2% to 1.5% is, IMO, not a little thing, a 25% reduction towards an aim of consolidation, which has its own issues as others have mentioned. There are also a lot of 2% cards now some of which still have decent benefits (at the time of typing!)

If cashback is the goal, consider getting more 5% cards and then a solid 2%. CFU makes little sense in that strategy without a great SUB (or equivalent) or if one day you consider getting a CSP/CSR etc.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

wasCB14 — Thu, 26 Mar 2020 01:13:50 GMT

Which particular benefits are you interested in?

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 01:34:29 GMT

@Anonymous wrote:
@Anonymous wrote:
Here I am thinking too hard again, and looking at future credit card options. I am still going to garden until August (or longer), but I can dream!

I am wondering about how well Chase Freedom and Freedom Unlimited compliment each other when my goal is to optimize cash back. I currently have the Chase Freedom. I am not in the position to justify a card with an annual fee, so while I know that I may not be getting the full value of the Ultimate Rewards points, I am currently satisfied with using UR points for cash back.

Now, I am thinking about eventually adding the Freedom Unlimited to replace by Citi Double Cash. The Freedom Unlimited would replace the Double Cash as a general spend card, as my other cash back cards are category cards. Yes, I know I would be replacing a 2% cash back card with a 1.5% card, but this is where I also mention my eventual goal of consolidating accounts at specific lenders. The reason I would like to go with Chase over Citi is the benefits on the cards, as well as my better experience with the responsiveness of Chase customer service over Citi customer service.

So, to get to the crux of this, are Chase Freedom and Freedom Unlimited a complimentary pairing when the goal is to earn cash back? I am open to suggestions as well, as I am in the thinking stage right now.
If you are just doing cash back, going from 2% to 1.5% is, IMO, not a little thing, a 25% reduction towards an aim of consolidation, which has its own issues as others have mentioned. There are also a lot of 2% cards now some of which still have decent benefits (at the time of typing!)

If cashback is the goal, consider getting more 5% cards and then a solid 2%. CFU makes little sense in that strategy without a great SUB (or equivalent) or if one day you consider getting a CSP/CSR etc.

OP, if you add a few more cards down the road, you can maximize cash back.

I have two 5% rotators, DC for 2% for items that won't need an extended warranty, CFU for extended warranty, Savor for 4% on dining and entertainment, PNC cash rewards for 4% on gas, Propel for 3% travel, parking, tolls, and BoA for 3% Internet and Walmart purchases. Works well.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 01:41:13 GMT

@wasCB14 wrote:
Which particular benefits are you interested in?

A benefit that was on my mind when getting the Double Cash was the trip cancellation/interruption insurance. I never needed to use it, but it does make me more comfortable knowing that I have it when making travel purchases. I had put most of my travel spend on the Double Cash for that reason. My Chase Freedom has that benefit, but that would go in the 1% category, making the 1.5% of the Freedom Unlimited sound more enticing.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 01:47:16 GMT

@Anonymous wrote:
OP, if you add a few more cards down the road, you can maximize cash back.

I have two 5% rotators, DC for 2% for items that won't need an extended warranty, CFU for extended warranty, Savor for 4% on dining and entertainment, PNC cash rewards for 4% on gas, Propel for 3% travel, parking, tolls, and BoA for 3% Internet and Walmart purchases. Works well.

I should probably note my current cash back cards:

Capital One Savor (grandfathered in without the AF!) - 4% dining and entertainment (as you mentioned)

TIAA Bank Rewards - 3% gas and groceries

Chase Freedom

Citi Double Cash

(Amex EveryDay and Hilton Amex are my points cards)

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 01:52:20 GMT

@Anonymous wrote:
If you are just doing cash back, going from 2% to 1.5% is, IMO, not a little thing, a 25% reduction towards an aim of consolidation, which has its own issues as others have mentioned. There are also a lot of 2% cards now some of which still have decent benefits (at the time of typing!)

If cashback is the goal, consider getting more 5% cards and then a solid 2%. CFU makes little sense in that strategy without a great SUB (or equivalent) or if one day you consider getting a CSP/CSR etc.

Yep, this knowledge certainly has weight in my thought process! It's part of the reason I figured the input from others would be good.

I mentioned in another response that a key benefit I like is trip cancellation/interruption insurance. Do you know of other 2% cards that may have that? I'm familiar with the PayPal and Fidelity cards, but I know those do not have that benefit.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 02:35:31 GMT

@Anonymous wrote:
@Anonymous wrote:
OP, if you add a few more cards down the road, you can maximize cash back.

I have two 5% rotators, DC for 2% for items that won't need an extended warranty, CFU for extended warranty, Savor for 4% on dining and entertainment, PNC cash rewards for 4% on gas, Propel for 3% travel, parking, tolls, and BoA for 3% Internet and Walmart purchases. Works well.
I should probably note my current cash back cards:

Capital One Savor (grandfathered in without the AF!) - 4% dining and entertainment (as you mentioned)
TIAA Bank Rewards - 3% gas and groceries
Chase Freedom
Citi Double Cash
(Amex EveryDay and Hilton Amex are my points cards)

I have Savor w/o AF as well, making most categories 3 or 4% when the rotating categories aren't in place.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 02:39:16 GMT

@Anonymous wrote:
@Anonymous wrote:
If you are just doing cash back, going from 2% to 1.5% is, IMO, not a little thing, a 25% reduction towards an aim of consolidation, which has its own issues as others have mentioned. There are also a lot of 2% cards now some of which still have decent benefits (at the time of typing!)

If cashback is the goal, consider getting more 5% cards and then a solid 2%. CFU makes little sense in that strategy without a great SUB (or equivalent) or if one day you consider getting a CSP/CSR etc.
Yep, this knowledge certainly has weight in my thought process! It's part of the reason I figured the input from others would be good.

I mentioned in another response that a key benefit I like is trip cancellation/interruption insurance. Do you know of other 2% cards that may have that? I'm familiar with the PayPal and Fidelity cards, but I know those do not have that benefit.

Propel has it and it's a 3% cash back card.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

CreditInspired — Thu, 26 Mar 2020 04:54:32 GMT

@Anonymous wrote:
Here I am thinking too hard again, and looking at future credit card options. I am still going to garden until August (or longer), but I can dream!

I am wondering about how well Chase Freedom and Freedom Unlimited compliment each other when my goal is to optimize cash back. I currently have the Chase Freedom. I am not in the position to justify a card with an annual fee, so while I know that I may not be getting the full value of the Ultimate Rewards points, I am currently satisfied with using UR points for cash back.

Now, I am thinking about eventually adding the Freedom Unlimited to replace by Citi Double Cash. The Freedom Unlimited would replace the Double Cash as a general spend card, as my other cash back cards are category cards. Yes, I know I would be replacing a 2% cash back card with a 1.5% card, but this is where I also mention my eventual goal of consolidating accounts at specific lenders. The reason I would like to go with Chase over Citi is the benefits on the cards, as well as my better experience with the responsiveness of Chase customer service over Citi customer service.

So, to get to the crux of this, are Chase Freedom and Freedom Unlimited a complimentary pairing when the goal is to earn cash back? I am open to suggestions as well, as I am in the thinking stage right now.

Since I dont know what other cards are already in your wallet, my suggestion would be not to put all your eggs in one basket. Diversify. Diversify. Diversify.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

wasCB14 — Thu, 26 Mar 2020 05:24:23 GMT

@CreditInspired wrote:
@Anonymous wrote:
Here I am thinking too hard again, and looking at future credit card options. I am still going to garden until August (or longer), but I can dream!

I am wondering about how well Chase Freedom and Freedom Unlimited compliment each other when my goal is to optimize cash back. I currently have the Chase Freedom. I am not in the position to justify a card with an annual fee, so while I know that I may not be getting the full value of the Ultimate Rewards points, I am currently satisfied with using UR points for cash back.

Now, I am thinking about eventually adding the Freedom Unlimited to replace by Citi Double Cash. The Freedom Unlimited would replace the Double Cash as a general spend card, as my other cash back cards are category cards. Yes, I know I would be replacing a 2% cash back card with a 1.5% card, but this is where I also mention my eventual goal of consolidating accounts at specific lenders. The reason I would like to go with Chase over Citi is the benefits on the cards, as well as my better experience with the responsiveness of Chase customer service over Citi customer service.

So, to get to the crux of this, are Chase Freedom and Freedom Unlimited a complimentary pairing when the goal is to earn cash back? I am open to suggestions as well, as I am in the thinking stage right now.
Since I dont know what other cards are already in your wallet, my suggestion would be not to put all your eggs in one basket. Diversify. Diversify. Diversify.

From post 8:

Capital One Savor (grandfathered in without the AF!) - 4% dining and entertainment

TIAA Bank Rewards - 3% gas and groceries

Chase Freedom

Citi Double Cash

(Amex EveryDay and Hilton Amex are my points cards)

Re: Chase Freedom & Freedom Unl. for Cash Back Only

wasCB14 — Thu, 26 Mar 2020 05:34:10 GMT

@Anonymous wrote:
@wasCB14 wrote:
Which particular benefits are you interested in?
A benefit that was on my mind when getting the Double Cash was the trip cancellation/interruption insurance. I never needed to use it, but it does make me more comfortable knowing that I have it when making travel purchases. I had put most of my travel spend on the Double Cash for that reason. My Chase Freedom has that benefit, but that would go in the 1% category, making the 1.5% of the Freedom Unlimited sound more enticing.

If you don't spend enough on travel to bother with a proper travel card, then missing 0.5% in rewards (1% vs. 1.5%) on your travel spend can't be that bad. How much would we be talking about per year? It might be better to just get a card with a nice bonus, or a card that gives 4% or 5% in a high-spend category.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 14:04:15 GMT

@wasCB14 wrote:
If you don't spend enough on travel to bother with a proper travel card, then missing 0.5% in rewards (1% vs. 1.5%) on your travel spend can't be that bad. How much would we be talking about per year? It might be better to just get a card with a nice bonus, or a card that gives 4% or 5% in a high-spend category.

I probably spend about $500 to $700 on flights and hotels in a year, so that doesn't justify a travel card in my book. In my mind, what made the Double Cash nice was that I could put travel purchases on a general spend card (with the trip protections) that was seeing frequent use in other aspects, rather than having a separate card for travel. It seemed less cluttered.

We're talking about a few dollars difference in cash back between the 1% and the 1.5%. It may show I am putting too much mental energy into this.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 14:11:08 GMT

I went ahead and edited the first post to indicate my current cards. I currently have 6 cards across 5 lenders.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 14:14:24 GMT

@Anonymous wrote:
I went ahead and edited the first post to indicate my current cards. I currently have 6 cards across 5 lenders.

Good diversity.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 14:33:55 GMT

@Anonymous wrote:
@Anonymous wrote:
I went ahead and edited the first post to indicate my current cards. I currently have 6 cards across 5 lenders.
Good diversity.

I strongly agree with everyone's concerns about making sure one has lender diversity. It's one of the first things I learned on this forum! Thus, a part of my thought process in all of this is I would still be maintaining lender diversity despite cutting out one of my current lenders.

For future threads, I should probably update my signature to reflect my current cards. That might make it easier for folks to offer advice when asking for it.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Anonymous — Thu, 26 Mar 2020 14:42:27 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
I went ahead and edited the first post to indicate my current cards. I currently have 6 cards across 5 lenders.
Good diversity.
I strongly agree with everyone's concerns about making sure one has lender diversity. It's one of the first things I learned on this forum! Thus, a part of my thought process in all of this is I would still be maintaining lender diversity despite cutting out one of my current lenders.

For future threads, I should probably update my signature to reflect my current cards. That might make it easier for folks to offer advice when asking for it.

Yes, otherwise you might be asked what cards you have every time you ask a question.

Re: Chase Freedom & Freedom Unl. for Cash Back Only

Citylights18 — Thu, 26 Mar 2020 14:51:01 GMT

I have the Chase Trifecta including the CSP and this is where I'm currently putting my spend.

Freedom Unlimited (bills, chase shopping portal)

Freedom (lyft, bonus category)

Sapphire Preferred (doordash)

I'm exploiting some wrinkles here. Chase typically has better shopping bonuses with the Freedom than the Sapphire but what some don't realize that Freedom bonus caries over to the Freedom Unlimited. Instead of then 2 bonus points + 1 I'm getting 2 + 1.5 when I use the CFU.

The lyft bonus was 10x for the CSR and 5x for the other cards. I'm fitting the 5x lyft over on the Freedom card and it worked out nice this quarter with gas also 5x. I prepaid my phone service for a year also at 5x this quarter. Next quarter it will be groceries at 5x.

Free doordash benefit came with the Sapphire line so with the CSP I have the same perk holders of the CSR are getting. I value the discount around 15% per order I place there.

Let's say I wanted to go to a different dining card right now. The only dining I can do with the lockdown is delivery/carry out or order from the grocery store. Even if I was looking at the AMEX Gold for this quarter at 4x dine/grocery that would not beat what I have for the CSP/CF.

I have thought of an AMEX Every Day card just for the purposes of converting Rakuten points to membership rewards. One of the best benefits of that is Rakuten runs on the dining rewards network so instead of 5x of United or American miles you can take the 5x in Membership Rewards. But of course the restaurants are closed so that is moot as are any travel bonuses in Rakuten right now.

In this environment you have to think of where your spend is going more so than total points. It will make for some forced gardening but that's not really a bad thing. Once travel comes back there is going to be shakeup in the value proposition of holding airline/hotel/priority pass cards and perhaps some new bonus offers. SUB's are going to be harder to hit for a while.