topic Re: Chase Freedom Vs. Citi Thank You Preferred in Credit Cards

Chase Freedom Vs. Citi Thank You Preferred

Anonymous — Thu, 27 Mar 2014 21:05:30 GMT

What are the pros and cons for both of these...overall experience?

Re: Chase Freedom Vs. Citi Thank You Preferred

Anonymous — Wed, 26 Mar 2014 15:30:27 GMT

Personally, I would never recommend the (normal) TYP. It got a bit better with the 2x categories, but they are nothing special. Thank You points are much harder to deal with and less valuable than the Freedom UR points (especially if you eventually get a higher level card such as CSP). The plus is you have fixed bonus categories, rather than random 5x ones, and that the 2x on TYP are uncapped. But cards like Cap One QS, offering a consistent easily redeemed 1.5% will often be better value, and depending on scores and spending, Fidelity Amex or no AF Arrival are much better.

Re: Chase Freedom Vs. Citi Thank You Preferred

NoAnchoviesPlease — Wed, 26 Mar 2014 15:48:27 GMT

I have both, TYP for years and CF since I PC'ed from a WAMU card. My once-and-future rate on TY is about 5% lower than CF, and I've found in the last couple of months that TY handles authorizations/pending charges more reasonably (I had a $400 auth last month on Chase that wasn't showing up as pending but was taken out of my available CL, and I was worried that I'd had a CLD while traveling on the CF).

One benefit they both have, if you're into that sort of thing, is the ability to shop using points at Amazon. When you check out, you can choose "change payment method" if one of those isn't your default, and it shows current points and cash value. No need to log into the UR or TY sites.

I'd give Chase a marginal advantage based on my CS experience, and my one late payment in 7-8 years on each, but I'm afraid this isn't a major endorsement either way.

Re: Chase Freedom Vs. Citi Thank You Preferred

thelethargicage — Wed, 26 Mar 2014 15:48:42 GMT

I'd stay away from the TY Points program. I love the categories on the TY Preferred/Premier cards, but the conversion rate to cash back makes them feel more like FU Points, unless you use them for mortgage payments.

Re: Chase Freedom Vs. Citi Thank You Preferred

Anonymous — Wed, 26 Mar 2014 15:51:59 GMT

@NoAnchoviesPlease wrote:
I have both, TYP for years and CF since I PC'ed from a WAMU card. My once-and-future rate on TY is about 5% lower than CF, and I've found in the last couple of months that TY handles authorizations/pending charges more reasonably (I had a $400 auth last month on Chase that wasn't showing up as pending but was taken out of my available CL, and I was worried that I'd had a CLD while traveling on the CF).

One benefit they both have, if you're into that sort of thing, is the ability to shop using points at Amazon. When you check out, you can choose "change payment method" if one of those isn't your default, and it shows current points and cash value. No need to log into the UR or TY sites.

Right, but this is a great example of how bad the TY program is! Chase and others points convert to Amazon at 1 cent per point, TYPs convert at a much lower rate. You pay for this "convenience". Citi has just expanded this to allow to pay with points for anything, but again at a lousy rate.

Re: Chase Freedom Vs. Citi Thank You Preferred

budugu — Wed, 26 Mar 2014 17:12:23 GMT

@thelethargicage wrote:
I'd stay away from the TY Points program. I love the categories on the TY Preferred/Premier cards, but the conversion rate to cash back makes them feel more like FU Points, unless you use them for mortgage payments.

+100. Unless you have other relationship bonuses there is no reason to ever use or collect TY points

Re: Chase Freedom Vs. Citi Thank You Preferred

Anonymous — Wed, 26 Mar 2014 19:17:56 GMT

@Anonymous wrote:
What are the pros and cons for both of these...overall experince?

Having had both for years, there's really no contest between the TYP and Chase Freedom. The Freedom wins most of the time. I had to rely on my Citi Forward to really make use of the Thank You Preferred and TY points. The demise of the Citi Forward has really left the TYP as a low tier, bare bones "rewards" card.

If you really like TY points, definitely go with the Premier or Prestige. I've just about abandoned TY points.

To directly answer your question: My pros for the Freedom are its categories, UR program, and how well it compliments the CSP. Pros for the TYP... possibility of a no annual fee World Elite card I guess?

Re: Chase Freedom Vs. Citi Thank You Preferred

Anonymous — Wed, 26 Mar 2014 23:01:23 GMT

I don't regret a Citi, just the TYP card. The TY points have a horrible value, at best you'll get a 1:1 for gift cards. Redeeming for statement credit is even worse. The freedom has rotating categories, ability to transfer to other partners, it compliments the CSP.

Re: Chase Freedom Vs. Citi Thank You Preferred

Anonymous — Wed, 26 Mar 2014 23:15:57 GMT

I have both for these.

I just found out yesterday that the TY points are not what it seem to be. They are not 1:1 point to cent value. I was very disapointed in that.

With the Ultimate reward from chase it is one point to one cent. So if I were to cash 20000 points that would be $200. This is what i would get with chase. But with Citi TY point for about 25000 points i get about $180 ish statement credit.

Also I checked for traveling and the price on the reward site are expensive too.

So if I was to choose between the two I would use chase freedom.

Re: Chase Freedom Vs. Citi Thank You Preferred

NoAnchoviesPlease — Thu, 27 Mar 2014 00:26:14 GMT

@Anonymous wrote:
@NoAnchoviesPlease wrote:
One benefit they both have, if you're into that sort of thing, is the ability to shop using points at Amazon. When you check out, you can choose "change payment method" if one of those isn't your default, and it shows current points and cash value. No need to log into the UR or TY sites.

Right, but this is a great example of how bad the TY program is! Chase and others points convert to Amazon at 1 cent per point, TYPs convert at a much lower rate. You pay for this "convenience". Citi has just expanded this to allow to pay with points for anything, but again at a lousy rate.

That's odd, mine seem to be pretty close, better than any of the cash-like conversions on the thankyou site (except student loan reimbursement). I think it was 1.1:1 on my last points transaction a week ago.

No biggie though, my TYP card is in my snowshoe drawer (it hasn't snowed where I live since before Reagan was president).

Re: Chase Freedom Vs. Citi Thank You Preferred

Anonymous — Thu, 27 Mar 2014 01:57:21 GMT

@NoAnchoviesPlease wrote:
@Anonymous wrote:
@NoAnchoviesPlease wrote:
One benefit they both have, if you're into that sort of thing, is the ability to shop using points at Amazon. When you check out, you can choose "change payment method" if one of those isn't your default, and it shows current points and cash value. No need to log into the UR or TY sites.

Right, but this is a great example of how bad the TY program is! Chase and others points convert to Amazon at 1 cent per point, TYPs convert at a much lower rate. You pay for this "convenience". Citi has just expanded this to allow to pay with points for anything, but again at a lousy rate.
That's odd, mine seem to be pretty close, better than any of the cash-like conversions on the thankyou site (except student loan reimbursement). I think it was 1.1:1 on my last points transaction a week ago.

No biggie though, my TYP card is in my snowshoe drawer (it hasn't snowed where I live since before Reagan was president).

Oh, maybe better than the cash redemptions, but that is a low threshold! Looking at my Amazon account:

3,425 Citi Thank You Points: $27.40 on Amazon.com

So that is 0.8 cents per point.

Also shows Chase: 106,776 Chase Ultimate Reward Points: $1067.76 on Amazon.com which is 1c each

So Citi really is not giving good value here, meaning with this type of redemption you are earning 1.6% on dining etc and 0.8% elsewhere.

Re: Chase Freedom Vs. Citi Thank You Preferred

NoAnchoviesPlease — Thu, 27 Mar 2014 04:32:53 GMT

@Anonymous wrote:
Oh, maybe better than the cash redemptions, but that is a low threshold! Looking at my Amazon account:

3,425 Citi Thank You Points: $27.40 on Amazon.com

So that is 0.8 cents per point.

Also shows Chase: 106,776 Chase Ultimate Reward Points: $1067.76 on Amazon.com which is 1c each

So Citi really is not giving good value here, meaning with this type of redemption you are earning 1.6% on dining etc and 0.8% elsewhere.

Yeah, looks like it. I looked at my Thank You history; a few years ago when I still used this card as my daily driver, student loan rebates were 1 point per cent, statement credits were 0.72 cents/point, gift cards were 0.83 points per cent. And maybe my current amazon points rate is more like 0.8 cents per point, now that I dig back a bit.

They still have the one point student loan payments, I probably got a year's worth of student loan payments out of that between 2000-2009. But now I know to shop around a bit better.

Re: Chase Freedom Vs. Citi Thank You Preferred

vwgrrc — Thu, 27 Mar 2014 06:10:42 GMT

Interesting. I'm actually planing to get a TYP for its sign-up bonus. 20000 points after $1500. Then redeem the points into $200 Walmart GC since I shop at Sam's Club weekly. Besides, the X2 on dining isn't too bad to me... Any better idea plz?

Re: Chase Freedom Vs. Citi Thank You Preferred

Anonymous — Thu, 27 Mar 2014 13:15:40 GMT

@vwgrrc wrote:
Interesting. I'm actually planing to get a TYP for its sign-up bonus. 20000 points after $1500. Then redeem the points into $200 Walmart GC since I shop at Sam's Club weekly. Besides, the X2 on dining isn't too bad to me... Any better idea plz?

Oh, it's OK for the sign up bonus, just not great for use after that. There are other cards the offer more than this on dining, but some might be harder to get. But Fidelity Amex offers 2% on everything, if you can get Cash Plus that offers 5% on dining up to $2000 per quarter, Chase AARP is 3%, CSP (with AF) gives 2 UR points on dining, Barclays with AF 2% on everything etc. And some of these have a bigger bonus.

Gift card redemptions are generally an OK rate, but also remember it's easy to get discounted gift cards. So GiftCardGranny shows lots of Walmart cards at a 3-4% discount for example.

Re: Chase Freedom Vs. Citi Thank You Preferred

BigBS — Thu, 27 Mar 2014 14:35:42 GMT

I have both cards and the freedom gets more use because of the bonus categories. My Citi started as a Diamond Preferred and somehow got PC'd to TYP. That was very strange because the reason I was given is because the Diamond Preferred was no longer being offered, but I was (and still am) receiving offers for the Diamond Preferred. Anyway, my biggest use was for a BT which was long ago completed so now it just sits 98% of the time. I keep it active because the limit is pretty high and am now at 9 years on it. Looked at other Citi cards and none of them are really appealing.

Downside for Chase freedom is the low CL. I got the card about 3 years ago when my score was in the high 500/low 600 range and I was happy to get it. I am apparently locked into the CL range that I have unless I apply for another card.

Bottom line, it's a toss-up for me for utility but would have to choose the freedom based solely on the 5% bonus categories.

Re: Chase Freedom Vs. Citi Thank You Preferred

Anonymous — Thu, 27 Mar 2014 21:24:24 GMT

Thank you for the great advice everyone. I have a Citi Expedia and I am not really happy with the reward system. I was able to get my school books off amazon with my accumulated points but other than that..blah. I figured Citi TYP would be within he same realm. I did apply for a Chase Freedom and was denied this month because of my lack of revolving credit. I was just approved a Discover it with 0% APR til 6/2015 so I am happy about that but I really wanted a CC that would allow me to reap rewards when I dine out, which I do a lot. Anyways, thank you fo rthe advice. I am going to try and recon one more time for Freedom, and if it is a no go I am just going to tend with what I have til the end of this year then try again.