My first Visa Signature... guess what it is before you click to read

[Anonymous]

I think you should just leave the Freedom card open and use it when the 5% categories make sense. If there's no good categories that quarter, SD the card for those 3 months to keep your wallet slimmer. I really don't see any logical benefit to closing the card.

[hemi961]

I would keep the Freedom card open if it were me.  I have one as well as a Discover card along with the JP Morgan Select which is similar to the Sapphire Preferred.  I still find a few places that don't accept Discover and until this year the 5% catagories had such low caps that while they were nice to have, they weren't that useful.  It is nice that they have raised them but who knows for how long, and I think when they do offer the grocery category the cap is still low.  I could be mistaken on that one as I use amex BCP for groceries.  The earning rate is better on the Freedom in the catagories that aren't 5% until you've spent a certain amount, I can't remember the amount because I've never used Discover except for Shop Discover and the 5% categories.  The ability to transfer the points to Sapphire and then to travel programs is a nice feature.  Everyone has different needs and uses for their cards but for me the combination of Discover, Freedom and Sapphie preferred is not bad to have.

[Anonymous]

Maybe I have this wrong. I thought freedom was cash back card. Csp is points card. Don't think you can transfer cash back points earned on freedom into ur points.

[Anonymous]

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@Anonymous wrote:
Maybe I have this wrong. I thought freedom was cash back card. Csp is points card. Don't think you can transfer cash back points earned on freedom into ur points.

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Freedom is marketed as a cash back card, but it's on the same UR points program as CSP and you can freely transfer points between accounts. The difference is that CSP allows you to transfer to travel partners like Marriott, United, Southwest, etc. That's why the Chase trifecta is so powerful, you can use the Freedom for 5% and transfer those points to your CSP, then transfer to an airline FF program.

[CreditScholar]

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@hemi961 wrote:

I would keep the Freedom card open if it were me.  I have one as well as a Discover card along with the JP Morgan Select which is similar to the Sapphire Preferred.  I still find a few places that don't accept Discover and until this year the 5% catagories had such low caps that while they were nice to have, they weren't that useful.  It is nice that they have raised them but who knows for how long, and I think when they do offer the grocery category the cap is still low.  I could be mistaken on that one as I use amex BCP for groceries.  The earning rate is better on the Freedom in the catagories that aren't 5% until you've spent a certain amount, I can't remember the amount because I've never used Discover except for Shop Discover and the 5% categories.  The ability to transfer the points to Sapphire and then to travel programs is a nice feature.  Everyone has different needs and uses for their cards but for me the combination of Discover, Freedom and Sapphie preferred is not bad to have.

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This is a major issue with the Freedom card.

While 5% is great, for some people and categories the caps are simply too low. This is the #1 reason I don't bother with it. If they increased the caps further, it would make for a much more competitive as a product.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
Maybe I have this wrong. I thought freedom was cash back card. Csp is points card. Don't think you can transfer cash back points earned on freedom into ur points.

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Freedom is marketed as a cash back card, but it's on the same UR points program as CSP and you can freely transfer points between accounts. The difference is that CSP allows you to transfer to travel partners like Marriott, United, Southwest, etc. That's why the Chase trifecta is so powerful, you can use the Freedom for 5% and transfer those points to your CSP, then transfer to an airline FF program.

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Interesting. Never had freedom.

[Meltdownblitz]

I too have the CSP + freedom + checking combo. I love the combo like everyone else and highly recommend it. In my opinion I wouldn't close the freedom, it's am awesome card to have and will grow with you. At least just use it for the 5% categories like many have said. Discover more is also one of my fav cards. The good thing about having both that and the chase freedom is that the categories are not always the same, therefore it's good to have both. And if they are the same like both have gas this month, then that's more cash back you can rack up if you easily exceed the $1500 quarterly limits. Shop discover is also a huge benefit, I use shop discover quite a bit. Great cards to have and you can rack up some cash back real quick.

[Smerri1029]

Using the Freedom on the 5% bonus categories and then transferring to the CSP UR account is the best bet. I will be using my Freedom on all gas and restuarant purchases the next three months. It's the best way to accumulate points. I definitely would not close the Freedom card. Use it on the 5% categories and sock drawer when the categories don't benefit you. Plus the fact that it's a no fee card is an even better reason to keep it open.

[Anonymous]

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@Anonymous wrote:

 It looks like I would make $25-30 more in cashback if I keep the Freedom open, but my question then is $25-30 worth it. 

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$25 - 30 worth it?

Of course.

Open positive tradeline reporting worth it?

Of course.

Tradeline adding onto your overall AAOA for more time worth it?

Of course.

A card that if you use that cashback to transfer to CSP helping you save on anything you book along with the extra 20% worth it?
Definitely.

I have both the More and the Freedom. The More covers some areas that the Freedom doesn't and vice versa. Fortunately, I've had the positive banking experience with Chase in having a checking, so it gives me a lot more options for getting cashback as well. It's all a matter of opinion in the end and what you think is best for you, but to me, it's worth keeping it open.

[Anonymous]

Looks like I will keep the Freedom open just to use solely on a 5% category thats not covered by Discover. My CSP will be my primary card and my Discover will be my cash back card. I will allow my Freedom to help my age of accounts. Now if only my Citi dividend could get some love. I have no real use for it anymore now that I got better cards. Looks like small charges once in a while will have to do when it's not being sock drawered.