topic Re: Chase Freedom - Update in Credit Cards

Chase Freedom - Update

smc733 — Sat, 14 Jan 2012 17:10:48 GMT

Hi all,

An update to my situation with Chase. I decided to apply (yes, I left the garden) for a new account. I was given the "Premium" pricing at 17.99. I have a call into the exec office, asking them to reconsider me for the "elite" pricing at 11.99.

Either way, this is an improvement over the other one, and if they can't give me elite, I can always over time use the card and get them to switch me to the elite pricing. I'm happy with this, I'll be ecstatic if they can do the elite pricing though.

Simplicity here, though. 1 card, PIF, and rack up the rewards. I'll use the other 4 once every 3 months for activity, but I'm going to try to run ALL of my activity through this card and earn all my points on one card.

Anyone have input on this? Does a 1 card strategy sound good for simplicy and getting points in one place?

Re: Chase Freedom - Update

Anonymous — Sat, 14 Jan 2012 17:14:53 GMT

Did you ask what their criteria are for elite pricing? If it's income sensitive, running a ton of charges through may not matter at all.

Re: Chase Freedom - Update

smc733 — Sat, 14 Jan 2012 17:18:24 GMT

@Anonymous wrote:
Did you ask what their criteria are for elite pricing? If it's income sensitive, running a ton of charges through may not matter at all.

It's not income sensitive, nor is it usage sensitive, it is credit sensitive. (AAoA, accounts, new accounts, etc...) They didn't give me speicifics, but they pretty much said that they review accounts and credit every 6 months to change pricing tier.

I'm ok if they don't move it for a while, if I NEED to carry a balance, I can always BT, I just feel a lot better with 18% over 23% on this card. They assured me that it is and can be moved, though, which may not be the case for "standard" pricing

Average Credit: (APR/Cash APR)

Standard: 22.9/23.24

Good Credit:

Premium: 17.99/19.24

Elite: 11.99/19.24

I'm feeling they're like HSBC with best buy, that good & average can't be jumped between, while the two "good" tiers can be changed.

Re: Chase Freedom - Update

LS2982 — Sat, 14 Jan 2012 17:19:47 GMT

@Anonymous wrote:
Did you ask what their criteria are for elite pricing? If it's income sensitive, running a ton of charges through may not matter at all.

Are you still going to use BofA? It would seem a waste to SD them when they are more giving to you CLI wise.

Re: Chase Freedom - Update

android01 — Sat, 14 Jan 2012 17:22:31 GMT

I've found Chase very difficult to work with on APR, to say the least. I have a Sapphire card that basically sits in the sock drawer collecting dust because of it. My APR got jacked to 29.99% a few years back for no good reason (I was a former WAMU client) and have been trying to get them to lower the APR for four years now, which they refused to do. So, last week I decided that I would apply for a different product (JP Morgan Select) and I was approved with an APR of 13.24%. I really don't understand Chase. I'm probably going to transfer the CL from the Sapphire to the Select and close the Sapphire. Like the OP, the APR really doesn't matter because I PIF every month. It's the principal that matters to me.

Re: Chase Freedom - Update

CS800 — Sat, 14 Jan 2012 17:32:38 GMT

@android01 wrote:
I've found Chase very difficult to work with on APR, to say the least. I have a Sapphire card that basically sits in the sock drawer collecting dust because of it. My APR got jacked to 29.99% a few years back for no good reason (I was a former WAMU client) and have been trying to get them to lower the APR for four years now, which they refused to do. So, last week I decided that I would apply for a different product (JP Morgan Select) and I was approved with an APR of 13.24%. I really don't understand Chase. I'm probably going to transfer the CL from the Sapphire to the Select and close the Sapphire. Like the OP, the APR really doesn't matter because I PIF every month. It's the principal that matters to me.

The strange part is the the freedom is my lowerst APR yet 17.99 while my other cards are at 18.99 - 20.99%

I did ask them to get an APR reduction ,was told i needed to wait 6 months and maybe they could bring it down. That didn't give me a warm feeling.

Re: Chase Freedom - Update

android01 — Sat, 14 Jan 2012 17:38:05 GMT

Chase has told me to check back every six months for four years now....

Re: Chase Freedom - Update

CS800 — Sat, 14 Jan 2012 17:42:24 GMT

@android01 wrote:
Chase has told me to check back every six months for four years now....

The oversue of this statement by cap one has given me PTSD

Re: Chase Freedom - Update

Anonymous — Sat, 14 Jan 2012 17:45:32 GMT

@smc733 wrote:

An update to my situation with Chase. I decided to apply (yes, I left the garden) for a new account. I was given the "Premium" pricing at 17.99. I have a call into the exec office, asking them to reconsider me for the "elite" pricing at 11.99.

Either way, this is an improvement over the other one, and if they can't give me elite, I can always over time use the card and get them to switch me to the elite pricing. I'm happy with this, I'll be ecstatic if they can do the elite pricing though.

Hi smc733,

Just a bit of curiosity-- Why open another product with Chase when you were, presumably, disatisfied with the previous product, terms, and responsiveness? You mentioned that you were happy with BoA & Discover, so why not give them more/all of your business? Why reward Chase for not meeting your expectations? Is the Chase product better (even with less than desirable terms) than your BoA & Discover products?

And, don't think of my questions as a criticism, I'm genuinely curious. I'm always interested in what drives us, as consumers, to one lender over the other(s).

Re: Chase Freedom - Update

bostonte — Sat, 14 Jan 2012 19:58:28 GMT

So have you tried to consoldiate the credit lines to the new Freedom yet?

Re: Chase Freedom - Update

LS2982 — Sat, 14 Jan 2012 20:53:04 GMT

@Anonymous wrote:
@smc733 wrote:

An update to my situation with Chase. I decided to apply (yes, I left the garden) for a new account. I was given the "Premium" pricing at 17.99. I have a call into the exec office, asking them to reconsider me for the "elite" pricing at 11.99.

Either way, this is an improvement over the other one, and if they can't give me elite, I can always over time use the card and get them to switch me to the elite pricing. I'm happy with this, I'll be ecstatic if they can do the elite pricing though.
Hi smc733,

Just a bit of curiosity-- Why open another product with Chase when you were, presumably, disatisfied with the previous product, terms, and responsiveness? You mentioned that you were happy with BoA & Discover, so why not give them more/all of your business? Why reward Chase for not meeting your expectations? Is the Chase product better (even with less than desirable terms) than your BoA & Discover products?

And, don't think of my questions as a criticism, I'm genuinely curious. I'm always interested in what drives us, as consumers, to one lender over the other(s).

I felt the same way reading this thread.

Re: Chase Freedom - Update

Open123 — Sat, 14 Jan 2012 21:06:33 GMT

@Anonymous wrote:
And, don't think of my questions as a criticism, I'm genuinely curious. I'm always interested in what drives us, as consumers, to one lender over the other(s).

I'm not SMC733, but I have given this exact question considerable thought, especially on how it relates to me on a personal and professional level.

I have found over the past couple of years when I've given more thought to credit and the use of it, I've found myself deviating from what I've always done in the past when it comes to financial matters--that is making decisions purely on what is most cost effective, or highest ROE (return on equity), if you will. Here is what I've been surprised with with my own behavior.

Regardless of terms and rewards, I find myself using my Amex cards.

I'm not sure why, and this doesn't make any rational sense, but I enjoy using my Amex for dinner over any other card even when another's card rewards exceeds what I get from my Amex. During the last quarter, I had spent a considerable amount on dining, but refused to use my Discover eventhough I was receiving 5%. Instead, I used my Amex for a single point per dollar. It doesn't make sense to me. I didn't realize this, but I find that I just like using my Amex more. In the end, the rewards and terms--give or take--is really quite insignficant to me, which is completely suprising to me.

Does that make any sense? Perhaps, for whatever reason, SMC just likes to use Chase more than B of A or Discover?

There really is no quantifying personal preference. For me, perhaps since I had come of age in the 80s, Amex will always be "The Card," whether it is still true or not.

Re: Chase Freedom - Update

Cory — Sat, 14 Jan 2012 21:17:55 GMT

Yeah I agree with the above poster. It's not known why one choices to deal with one lender over the next. Like some of you, I love, love Bank of America, but find no use for Chase. This is still after reading all of the news about Bank of America the last three years. I have a Chase card that I attempted to close before, but decided to keep it.

After being a customer of Citi, Chase, Discover, American Express, Bank of America, to me Bank of America stills come out of top of all of them for me. So I decided to simplify things for me, to stop chasing the rewards in a card, and just live loyal to Bank of America. Hey, it might be slow accumilating the rewards, but it's more simple over time. I have the Bank of America 3% 2% 1% Visa Signature Card with a $11,500.00 credit limit.

Re: Chase Freedom - Update

Anonymous — Sat, 14 Jan 2012 21:25:47 GMT

@ Open123, I tend to go by rewards or closing date. In all honesty, I enjoyed meals purchased on the Amex Gold (when I had one) because they were budgeted for in advance. When self-employed, ability to freely use the Amex was pretty much a measure of how well things were going, LOL! I'm also convinced people respond differently when being presented charge cards. An Amex card was pretty much considered cash until they came up with 30 products and started co-branding. I'd get a charge card again but paying an AF while still having credit card debt doesn't make any sense, to me. I'm not in rebuilding mode and don't travel often enough to make good use of points.

Re: Chase Freedom - Update

smc733 — Sat, 14 Jan 2012 21:29:34 GMT

@Anonymous wrote:
Hi smc733,

Just a bit of curiosity-- Why open another product with Chase when you were, presumably, disatisfied with the previous product, terms, and responsiveness? You mentioned that you were happy with BoA & Discover, so why not give them more/all of your business? Why reward Chase for not meeting your expectations? Is the Chase product better (even with less than desirable terms) than your BoA & Discover products?

And, don't think of my questions as a criticism, I'm genuinely curious. I'm always interested in what drives us, as consumers, to one lender over the other(s).

Because I really, really dislike using more than one card for my expenses. I'm very big on simplicity, and I've long been striving for one primary card. To me, the only card to do this is Chase Freedom.

If Discover didn't have that stupid $3,000 tier, I would be fine just using that and cash where Discover isn't accepted.

Chase has:

-Good rewards

-Visa acceptance

-Rewards mall

-Best redemption options

It just seems like the best card all around. Although my BankAmericard 1-2-3+ Discover's 5% categories could really clean up, and is probably the best way to earn maximum rewards, both cards have sucky redemption options (I don't want gift cards, nor do I want 25/50 dollar increments).

I really loathe how Chase treated my previous account, and I have a feeling I'll be stuck with this APR for a long time, but it might work out.

Re: Chase Freedom - Update

laboi_22 — Sat, 14 Jan 2012 22:01:56 GMT

I think this is the 3rd time we've had this conversation. Previous threads have been locked by the moderator. I undestand wanting a Chase, or enjoying the fact that Chase is a sought after card with great rewards. There exists (at least in Louisiana) a sense of glamour to holding a Chase card. As you all know, I love cards with prestige. I, like a post above, am a fan of using AMEX. I think it's just the prestige of the AMEX brand. I love using it. I also like the fact that what I charge doesn't show up on UTL in most instances, and since I have a NPSL, it gives my other cards nice breaks for the balances to decrease.

Here is what I don't understand. The OP has been posting frustration with Chase because of the APR. I'm not so sure I understand the frustration there. Is it just to say "hey I have a really low APR card in my wallet?" The OP has mentioned that if the need arises to carry a balance, the poster can then BT. There is also mention that the card is PIF each month. If all the above is true, why worry about the APR? Now the latter statement is simple. Doesn't that statement ring with simplicity?

Re: Chase Freedom - Update

smc733 — Sat, 14 Jan 2012 22:44:48 GMT

@laboi_22 wrote:
I think this is the 3rd time we've had this conversation. Previous threads have been locked by the moderator. I undestand wanting a Chase, or enjoying the fact that Chase is a sought after card with great rewards. There exists (at least in Louisiana) a sense of glamour to holding a Chase card. As you all know, I love cards with prestige. I, like a post above, am a fan of using AMEX. I think it's just the prestige of the AMEX brand. I love using it. I also like the fact that what I charge doesn't show up on UTL in most instances, and since I have a NPSL, it gives my other cards nice breaks for the balances to decrease.

Here is what I don't understand. The OP has been posting frustration with Chase because of the APR. I'm not so sure I understand the frustration there. Is it just to say "hey I have a really low APR card in my wallet?" The OP has mentioned that if the need arises to carry a balance, the poster can then BT. There is also mention that the card is PIF each month. If all the above is true, why worry about the APR? Now the latter statement is simple. Doesn't that statement ring with simplicity?

Not really that at all. I have a card with a lower APR than Chase even offers right now. I really want to consolidate to one card to make earing rewards simpler and easier to manage, and the Freedom is really the card that I want, and I feel is best to be a single card for earning rewards.

I just felt very uncomfortable with 22.9% hanging over my head. Now pair a higher-er than average 18% with a low interest card back at home for "emergencies" and I feel a bit better about using the card. I'm still going to try to (while the account is in setup) recon the pricing tier to hopefully get them to push it to the "elite" pricing.

Re: Chase Freedom - Update

Anonymous — Sat, 14 Jan 2012 23:59:44 GMT

Thats kind of funny to me then...

I went from Denial, to Recon call that resulted in $5k at 11.99%.

So I went from Denial, to Elite Tier? Amusing.

Re: Chase Freedom - Update

Anonymous — Sun, 15 Jan 2012 00:25:26 GMT

My 0% is up Jan 18th, then it goes to 17.99%. I should call just for poops and giggles to see if they'll do better.