topic Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards in Credit Cards

Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

rgd51 — Sun, 21 Nov 2021 22:55:33 GMT

The CFU has bonus categories and still gives 1.5% on everything else yet the quicksilver, new BOA card (if one doesn't have enough money with BOA to qualify for a higher rewards rate), cash magnet, Discover miles, etc. still exist and people are still applying for them when the CFU now blows those cards out of the water? You'd think they'd add bonus categories or change the flat rate to 2% to compete?

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

simplynoir — Sun, 21 Nov 2021 22:59:24 GMT

Because of 5/24

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

rgd51 — Sun, 21 Nov 2021 23:02:01 GMT

Yeah but the vast majority of people outside this site don't open new cards that often so 5/24 wouldn't really be an issue in the vast majority of cases?

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

EAJuggalo — Sun, 21 Nov 2021 23:34:15 GMT

@rgd51 wrote:
Yeah but the vast majority of people outside this site don't open new cards that often so 5/24 wouldn't really be an issue in the vast majority of cases?

The vast majority of people outside this site have no idea that they could get that much more with a CFU than they can with a Quicksilver or any of the other myriad 1.5% CB cards. The majority of people get credit cards at wherever they do their primary banking or because of some co-brand. My FIL would rather 1 Cabela's point per dollar than 2% CB or 2 MR/dollar.

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

simplynoir — Sun, 21 Nov 2021 23:37:55 GMT

Since you mention the public let's examine the other extreme aka those that are conservative with applying. You also underestimate how unwillingly people are with regards to changing what they already have credit cards wise. Why would someone change over to another card when the card they use is serving their uses? I know people from varying backgrounds who just use one or two cards for everything. They are not concerned with maximizing their spend. The reasons for not "switching" vary from simplicity, credit limits, rebuilding, loyalty to the bank/lender and other reasons I'm sure I am forgetting

This question reminds me of the one asked not too long ago where someone asked why banks like Capital One haven't increased the reward rate of their Quicksilver cards to 2% since other banks have made 2% more prevalent and IMO it's because they don't have the incentive to. As long as customers are applying and using QS cards why should they change? It works for them even if there are better earners out there. So for Capital One it's a business model that works

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

xenon3030 — Mon, 22 Nov 2021 00:07:24 GMT

As long as customers would apply for those cards and use them effectively, the banks will keep them in the market. The banks may stop the low profitable cards, if the customers find better options over a long period of time and afterward, stop using them (SD), PC them or eventually close them.

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

Anonymous — Mon, 22 Nov 2021 00:28:58 GMT

I suspect also that some part of the population don't consider credit cards for their rewards at all, the major use is simply to buy something when they have insufficient funds to pay it all at once (and of course here APR is more significant, but if you stick with the bank you know, you won't be shopping around for lower rates either).

Eventually these things may change. In my relative youth, cell phones were used only for emergencies (and at least once to say "Guess where I am calling from!!!!!!") Calls to the local area could be 50c per minute. And same with "long distance" land line calls.

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

simplynoir — Mon, 22 Nov 2021 00:49:26 GMT

@Anonymous wrote:
Eventually these things may change. In my relative youth, cell phones were used only for emergencies (and at least once to say "Guess where I am calling from!!!!!!") Calls to the local area could be 50c per minute. And same with "long distance" land line calls.

I'm old enough to remember when calling cards from telephone companies were a thing to help someone make long distance local calls and international calls as well. They made them small enough to be attached to your keychain for easy use with a pin number. That brings back memories thinking about them

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

CYBERSAM — Mon, 22 Nov 2021 01:08:03 GMT

Because CHASE is by far the WORST Bank compered to what you have mentioned! Yes I said it.

Hard pull CLI!!!! are you kidding! 😵

APR is set on stone! 🙄

Ridicules rules for getting basic CC!

Lower then average SL on CCs!

Not saying they are bad or they are CreditOne lvl, but there are much better banks that offer 1.5% with much better benefits.

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

Remedios — Mon, 22 Nov 2021 01:33:54 GMT

@CYBERSAM wrote:
Because CHASE is by far the WORST Bank compered to what you have mentioned! Yes I said it.
Hard pull CLI!!!! are you kidding! 😵
APR is set on stone! 🙄
Ridicules rules for getting basic CC!
Lower then average SL on CCs!

Not saying they are bad or they are CreditOne lvl, but there are much better banks that offer 1.5% with much better benefits.

What did Chase do to you?

Anyway, yup HP. If you really need that increase and you're using your card, you get one.

APR is set in stone, but 107% of myFico members PIF. Your Synchrony cards, care to share APRs on those?

Ridiculous CC rules? How about 3 HPs just to open a card like your QS and Venture. That's 6 (six) right there, Chase would use two at most per card, that leaves you with two spare HPs for CLIs.

Lower than average CLs? Compared to whom? How did you arrive to this generalization? Granted, they don't play utilization games but for many profiles, only Amex might come close for some profiles.

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

Anonymalous — Mon, 22 Nov 2021 01:35:23 GMT

It's very simple: People don't shop around. In the latest JD Powers survey, the average person only looked at 1 or 2 other banks before applying for a new card, and the vast majority ended up with a card from the first place they looked. Most people just seem to look to see if there's a better card available at the bank they already have a relationship with, or react to offers or ads.

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

Anonymous — Mon, 22 Nov 2021 01:40:46 GMT

A lot of people still lean towards using banks that are in their area, and while there are a lot of Chase banks, there's a lot of places that don't have any.

Boston didn't have Chase bank until maybe 2 years ago and that's a gigantic market to completely ignore. Cleveland had one BofA ATM way outside of Cleveland until maybe 1-2 years ago as well, those are just two cities off the top of my head that show how major banks aren't available to everyone.

The Quicksilver has no foreign transaction fees and if that is remotely important, that alone blows the CFU as well as most(all?) no AF Chase cards completely away.

I have this card along with other Chase cards and no Capital One cards, but I don't think the CFU is the best card for everyone looking for a 1.5% card.

If we're being honest, the card is a 3% dining/pharmacy and 1.5% other purchase category card. I personally consider the 5% Chase travel category their gimmick to get people to apply and don't find it useful, but I know people do find the portal worthwhile.

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

rgd51 — Mon, 22 Nov 2021 04:14:45 GMT

@Anonymous wrote:
A lot of people still lean towards using banks that are in their area, and while there are a lot of Chase banks, there's a lot of places that don't have any.

Boston didn't have Chase bank until maybe 2 years ago and that's a gigantic market to completely ignore. Cleveland had one BofA ATM way outside of Cleveland until maybe 1-2 years ago as well, those are just two cities off the top of my head that show how major banks aren't available to everyone.

The Quicksilver has no foreign transaction fees and if that is remotely important, that alone blows the CFU as well as most(all?) no AF Chase cards completely away.

I have this card along with other Chase cards and no Capital One cards, but I don't think the CFU is the best card for everyone looking for a 1.5% card.

If we're being honest, the card is a 3% dining/pharmacy and 1.5% other purchase category card. I personally consider the 5% Chase travel category their gimmick to get people to apply and don't find it useful, but I know people do find the portal worthwhile.

That is true for the QS as it has no FTF but not sure why someone would get a card like the Amex cash magnet over the FU when the cash magnet has no bonus categories and has a $25 minimum redemption. I know Amex is known for great customer service though so that might be a factor?

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

Yasselife — Mon, 22 Nov 2021 04:32:49 GMT

@Anonymous

- I like to pay off the card and that It reports to the bureaus before the statement closes.

- I like Chase plans for payment facilities and long-term loan offers with an interest below 50% of the original APR, using up to 80% of the available limit of the card.

- I like the portal, its design and the structure of its tools for user service.

- I like the diversity of options for other financing products.

- I like the name Freedom Flex, reason enough to choose it before Quicksilver or Savor... imo lol

- I have a lot of branches in my city... atms are dope.

I can say similar things about Capital One too but, since I'm seeing ppl bashing on Chase, well, get some!

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

NRB525 — Mon, 22 Nov 2021 04:53:26 GMT

Someone help me out here. Has anyone seen, ever, a Chase Freedom Unlimited TV ad? And Capital One? Quicksilver pitch man is..? And Venture pitch lady is....?

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

Remedios — Mon, 22 Nov 2021 05:10:36 GMT

@NRB525 wrote:
Someone help me out here. Has anyone seen, ever, a Chase Freedom Unlimited TV ad? And Capital One? Quicksilver pitch man is..? And Venture pitch lady is....?

Gosh, midterms already

CFU, guy often seen with Dwayne Johnson

QS, Mace Windu

Venture, messy divorce, still doing commercials to pay attorney

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

wasCB14 — Mon, 22 Nov 2021 05:31:35 GMT

CFU had Ellie Kemper for a little bit (Erin Hannon from The Office).

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

stonedog23 — Mon, 22 Nov 2021 06:21:27 GMT

Isn't the new pitchman for the CFU Kevin Hart? And for QS Samuel Jackson.

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

Anonymous — Mon, 22 Nov 2021 10:11:25 GMT

@Yasselife I have multiple Chase cards and zero Capital One cards so I wasn't bashing on Chase, Im being realistic about their offerings.

All of those other reasons are personal preference, but many of them can also be matched by a lot of other banks as well.

Re: Why hasn't the chase freedom unlimited killed 1.5% flat rate cards

ptatohed — Mon, 22 Nov 2021 10:41:58 GMT

@rgd51 wrote:
The CFU has bonus categories and still gives 1.5% on everything else yet the quicksilver, new BOA card (if one doesn't have enough money with BOA to qualify for a higher rewards rate), cash magnet, Discover miles, etc. still exist and people are still applying for them when the CFU now blows those cards out of the water? You'd think they'd add bonus categories or change the flat rate to 2% to compete?

I would ask why haven't all the 1.5% CB cards been killed by the multiple 2% card offerings out there (and even 2.5% and 3.0%)?

I killed my 1.5% QS moons ago for the 2% Citi. And, very recently, I got the AOD 3%.