topic Re: Anyone have the Chase Freedom? in Credit Cards

Anyone have the Chase Freedom?

frogfan12 — Sun, 19 Feb 2012 21:00:40 GMT

I got a mail offer last week for the Chase Freedom. Does anyone have this card? I'm not a fan of Chase but I found it interesting that they would send me an offer.

Re: Anyone have the Chase Freedom?

Anonymous — Sun, 19 Feb 2012 21:08:20 GMT

It's a fantastic card IMO, 5% bonus categories that rotate each quarter with a base reward of 1%. This year, gas is one of the bonus categories for 6 months! There's currently an untargeted $300 sign-up offer for spending $500 in the first 3 months.

Citi Dividend and Discover More are the other 2 cards that have the same rewards structure. IMO, Dividend tends to have less useful categories e.g. healthcare is in this quarter and Discover More has a lower starting base reward of 0.25%.

Re: Anyone have the Chase Freedom?

Anonymous — Sun, 19 Feb 2012 21:12:36 GMT

It's a great card but not useful for anyone expecting frequent CLIs.

Re: Anyone have the Chase Freedom?

cashnocredit — Sun, 19 Feb 2012 21:13:05 GMT

Chase offered me a bunch of cards when I opened a checking account. The Freedom siggy Visa card had no AF and seemed to be a good match with my other cards. I had just gotten an Amex plat, largely for the airport lounge access but they have a no foreign transaction fees as well which the Freedom card does charge for.. The only thing I would improve on it is if they offered a seperate CC number for AUs and easy segmentation of expenses. OTOH AUs just require a name and I don't think they report AUs to CRAs. Its just as well as it's a new account.

Re: Anyone have the Chase Freedom?

Open123 — Sun, 19 Feb 2012 21:25:41 GMT

This card is next on my app list. Spend $500 for $300 cashback is an incredible deal.

Re: Anyone have the Chase Freedom?

namvet — Sun, 19 Feb 2012 21:41:56 GMT

@frogfan12 wrote:
I got a mail offer last week for the Chase Freedom. Does anyone have this card? I'm not a fan of Chase but I found it interesting that they would send me an offer.

Why not send you an offer? You're in the 700 club. It's just like any of the other cards. You take care it and it will take care of you. Your management of the card may determine your opinion. It's a good card for those who qualify.

Re: Anyone have the Chase Freedom?

Anonymous — Sun, 19 Feb 2012 21:52:32 GMT

If I'm not mistaken Amex is the only issuer that gives seperate numbers for AUs. It bothers me a little since I have 3 AUs on my Sapphire so sometimes I get mixed up whether a charge is my parents or not but if I'm not sure I just bill them anyways and collect the points.

Re: Anyone have the Chase Freedom?

CreditScholar — Mon, 20 Feb 2012 04:28:03 GMT

@Anonymous wrote:
It's a great card but not useful for anyone expecting frequent CLIs.

I've always wondered what the fascination with CLIs is. I've never asked for one, and have never really needed one. Besides the FICO benefits, do people really expect to push through huge amounts on their cards? If your starting CL is low then I understand, but how many people really push through 10k, 15k, or even 20k in one month?

Re: Anyone have the Chase Freedom?

AF_23 — Mon, 20 Feb 2012 04:32:37 GMT

@CreditScholar wrote:
@Anonymous wrote:
It's a great card but not useful for anyone expecting frequent CLIs.
I've always wondered what the fascination with CLIs is. I've never asked for one, and have never really needed one. Besides the FICO benefits, do people really expect to push through huge amounts on their cards? If your starting CL is low then I understand, but how many people really push through 10k, 15k, or even 20k in one month?

They give out subprime limits at times, so many are hoping for a nice CLI like a prime card should do.

Re: Anyone have the Chase Freedom?

pipeguy — Mon, 20 Feb 2012 04:34:06 GMT

@CreditScholar wrote:
I've always wondered what the fascination with CLIs is. I've never asked for one, and have never really needed one. Besides the FICO benefits, do people really expect to push through huge amounts on their cards? If your starting CL is low then I understand, but how many people really push through 10k, 15k, or even 20k in one month?

+10 bingo !

Re: Anyone have the Chase Freedom?

clocktick — Mon, 20 Feb 2012 05:01:08 GMT

@CreditScholar wrote:
@Anonymous wrote:
It's a great card but not useful for anyone expecting frequent CLIs.
I've always wondered what the fascination with CLIs is. I've never asked for one, and have never really needed one. Besides the FICO benefits, do people really expect to push through huge amounts on their cards? If your starting CL is low then I understand, but how many people really push through 10k, 15k, or even 20k in one month?

I like them because, most of the time, I pay after the statement cuts.

Re: Anyone have the Chase Freedom?

Anonymous — Mon, 20 Feb 2012 05:10:01 GMT

CLIs are really useful for keeping your utilization numbers low without you having to pay 2 or 3 times in a statement period (depending on the CL on the card).

I know I usually paid my UPromise card 2x a month otherwise I would hit the $3.5K limit by mid month (and I PIF every month). Mainly because I charge EVERYTHING for the rewards!

This helps with your FICO, but, more importantly, it helps you not look subprime to your lender. As they favor low utilization more than they favor PIF. So, having a high utilization can lead to a closed card or other ugly results, even on a great payment history.

Re: Anyone have the Chase Freedom?

Anonymous — Mon, 20 Feb 2012 05:22:53 GMT

@clocktick wrote:
@CreditScholar wrote:
@Anonymous wrote:
It's a great card but not useful for anyone expecting frequent CLIs.
I've always wondered what the fascination with CLIs is. I've never asked for one, and have never really needed one. Besides the FICO benefits, do people really expect to push through huge amounts on their cards? If your starting CL is low then I understand, but how many people really push through 10k, 15k, or even 20k in one month?

I like them because, most of the time, I pay after the statement cuts.

In all honestly, if your not going to be applying for anything within a month or two, paying after the statement cuts really shouldn't be a big deal - score-wise. We all have our opinions .

Re: Anyone have the Chase Freedom?

crunching_numbers — Mon, 20 Feb 2012 12:25:15 GMT

@cashnocredit wrote:
Chase offered me a bunch of cards when I opened a checking account. The Freedom siggy Visa card had no AF and seemed to be a good match with my other cards. I had just gotten an Amex plat, largely for the airport lounge access but they have a no foreign transaction fees as well which the Freedom card does charge for.. The only thing I would improve on it is if they offered a seperate CC number for AUs and easy segmentation of expenses. OTOH AUs just require a name and I don't think they report AUs to CRAs. Its just as well as it's a new account.

I have a Chase Signature Freedom card and my husband is an AU. They DO report AU's.

Re: Anyone have the Chase Freedom?

Anonymous — Mon, 20 Feb 2012 14:55:34 GMT

@Anonymous wrote:
@clocktick wrote:
@CreditScholar wrote:
@Anonymous wrote:
It's a great card but not useful for anyone expecting frequent CLIs.
I've always wondered what the fascination with CLIs is. I've never asked for one, and have never really needed one. Besides the FICO benefits, do people really expect to push through huge amounts on their cards? If your starting CL is low then I understand, but how many people really push through 10k, 15k, or even 20k in one month?

I like them because, most of the time, I pay after the statement cuts.
In all honestly, if your not going to be applying for anything within a month or two, paying after the statement cuts really shouldn't be a big deal - score-wise. We all have our opinions .

I beg to differ my thought on this is sometimes your softed by companies like Barclay who if they see high util sometimes results in some kind of action

Re: Anyone have the Chase Freedom?

crunching_numbers — Mon, 20 Feb 2012 15:07:34 GMT

@Anonymous wrote:

I beg to differ my thought on this is sometimes your softed by companies like Barclay who if they see high util sometimes results in some kind of action

I can't figure Barclay's out at all. I have a high (81%) util, high overall non-mortgage debt ($71K). They just did a CLI that I did not ask for.

Re: Anyone have the Chase Freedom?

RockinRay — Mon, 20 Feb 2012 15:44:02 GMT

I like my Freedom card but I only use it when the gas bonus is there. Have had the card for 8 months or so now and I have a nice limit on it. No need for a higher CL unless they decide I derserve one! LOL...

Re: Anyone have the Chase Freedom?

Anonymous — Mon, 20 Feb 2012 16:43:49 GMT

I like my Freedom card.

As to the CLI fascination thing... The whole point of high credit limits is to increase one's score. I don't carry a balance on any of my cards but I don't get all up in arms trying to get a payment in before they send a statement. If I have $50k of available credit and $4-5,000 of use ends up being reported it doesn't tank my score as bad as having only $5,500 in credit.

It also may be construed as a right of passage sort of thing.

Re: Anyone have the Chase Freedom?

Anonymous — Mon, 20 Feb 2012 16:54:30 GMT

@Anonymous wrote:
I like my Freedom card.

As to the CLI fascination thing... The whole point of high credit limits is to increase one's score. I don't carry a balance on any of my cards but I don't get all up in arms trying to get a payment in before they send a statement. If I have $50k of available credit and $4-5,000 of use ends up being reported it doesn't tank my score as bad as having only $5,500 in credit.

It also may be construed as a right of passage sort of thing.

I buy all my stuff with my Amazon Store Card so the delivery person has to carry it upstairs.

I am curious why you dont use it at amazon too since you can get 5% cash back this qtr

Re: Anyone have the Chase Freedom?

cashnocredit — Mon, 20 Feb 2012 18:14:52 GMT

@crunching_numbers wrote:

@cashnocredit wrote:
Chase offered me a bunch of cards when I opened a checking account. The Freedom siggy Visa card had no AF and seemed to be a good match with my other cards. I had just gotten an Amex plat, largely for the airport lounge access but they have a no foreign transaction fees as well which the Freedom card does charge for.. The only thing I would improve on it is if they offered a seperate CC number for AUs and easy segmentation of expenses. OTOH AUs just require a name and I don't think they report AUs to CRAs. Its just as well as it's a new account.
I have a Chase Signature Freedom card and my husband is an AU. They DO report AU's.

Thanks for the info. I just recently added my gf. They only asked for a name for the AU. They probably soft the CRA for the name at the same address to get the info to report her. If so, it'll probably be a while before it shows up on her reports.