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Chase lowered APR and "upgrade" offer...

tcbofade
Super Contributor

Chase lowered APR and "upgrade" offer...

DW got an unsolicited reduction on her Chase Freedom card.  Yay!  Down to 17.24% from whatever it was.  (22%ish?)

 

Also, same piece of mail offers her an "upgrade" to the Freedom Unlimited card.  1.5% cash back, no AF, no rotating categories either.

 

Frankly, she's carrying a balance transfer on her existing account at 0%, but other than that, we don't use the card much.

 

Should she upgrade, or not?  Plusses and minuses please.

 

 



05/01/21 Fico 8: EX 725, EQ 753, TU 757.
04/03/21 Fico 9: EX 714, EQ 724, TU No idea.

Zero percent financing is where the devil lives...

Firmly in the garden since 13 February, 2021 until whatever comes next. Smiley Happy
Message 1 of 6
5 REPLIES 5
CreditCuriosity
Moderator

Re: Chase lowered APR and "upgrade" offer...

Several of us have gotten same thing..  I am passing on upgarde along with most people as usually the 5% cats are pretty good and it would take alot of 1.5% spend to surpass the 5%..  The APR reduction is cool part although sitll high to carry any balance, but nice they did it for alot of us.  They are just trying to get people to convert as they know it costs them less at 1.5 vs. 5% back.  Really comes down to how much spend does she put on 5% cats and what it would be at 1.5% to surpass the 5% whether a upgrade(product convert, not really an upgrade) or not

Message 2 of 6
kdm31091
Super Contributor

Re: Chase lowered APR and "upgrade" offer...

If she wants to switch to the card to use as a primary card, the 1.5% is likely better, since she'd only be getting 1% on most things and 5% on limited categories with the regular Freedom.

 

But if it's just an occasional use kind of card, I would just leave it alone and use it for the 5% bonus categories. If not using it much anyway, you're probably better off getting 5% sometimes than 1.5% rarely because the card isn't used.

Message 3 of 6
Dinosaur
Moderator Emeritus

Re: Chase lowered APR and "upgrade" offer...

@CreditCuriosityseems back in time (not to far) Chase was supposedly trying to convert the Chase Freedom Card holders to the Chase Freedom Unlimited Card. Is this the same Merry Go Round from before I wonder? Just did what everyone told me to do (sheep falling off the cliff syndrome) and p/c'd from the Chase Freedom Unlimited to the Freedom Card to catch the categories and for the unclassified spends, put them on my general 2% and 2.5% cards. Wandering minds??? Smiley Surprised

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Message 4 of 6
wasCB14
Super Contributor

Re: Chase lowered APR and "upgrade" offer...

If she wants a good primary card, there are far better options than 1.5% cash back.

 

If she gets into AF cards and using URs for travel, applying for CFU as a fresh account is good to earn both 5x and 1.5x.

 

If she just wants to use it occasionally, 5% cash with no AF is always nice - at least, unless someone books a lot of premium airline seats.

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Message 5 of 6
tcbofade
Super Contributor

Re: Chase lowered APR and "upgrade" offer...

Honestly, she's a bit of a sub chaser... she's over 5/24, but eventually that will pass and/or she'll get the green checkmark for the Unlimited version. 

 

I think that we'll leave her Freedom a Freedom, and apply for the Unlimited on some future date.

 

Thanks all.  I wanted to be sure that I'm not missing something...



05/01/21 Fico 8: EX 725, EQ 753, TU 757.
04/03/21 Fico 9: EX 714, EQ 724, TU No idea.

Zero percent financing is where the devil lives...

Firmly in the garden since 13 February, 2021 until whatever comes next. Smiley Happy
Message 6 of 6
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