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Follow this link it is right off the Chase main website to their credit card offers.

http://www.chasecreditcards.com/index.asp?advkw=LSBROWSEALL01K&MSC=LSBROWSEALL01K

1st card it lists is a no annual fee Freedom Card. I'm ticked at this because I got the notification for the Ultimate Rewards should be Ultimate Dissapointment card.

Chase took away the WaMu Rewards card now Freedom. Time to find something new.

Any idea what is going to happen to accumulated Cash Back money. Are they going to send a check or converting them into points?

rustum said: Any idea what is going to happen to accumulated Cash Back money. Are they going to send a check or converting them into points?

Converted into points.

SuperG03

Finally got the letter too. The only plus side is that you essentially get 10cents for ANY purchase. Good for small purchases, but they're not getting any other spending from me.

A heads up to people, the Chase Business Freedom card still has the 3% Cash Back on top categories. So I'm just going to move my spending on my personal card to the business card.

"YOU'VE EARNED THE ULTIMATE UPGRADE"

what a joke. I've been a chase CC user for more than 7 years. this is the BS "upgrade" i've earned.

..hey, at least you didnt get the "upgrade" in T&C from Chase that says Balance Transfer transaction fees and cash advance fees will increase from 3% to 5% starting November 2009.

I'm pretty sure everyone is gonna get that upgrade.

I got the letter as somebody with other accounts with Chase. A substantial amount of my spending on the card is for charges less than $8 - mostly McBreakfast, some lunches near the office, and the occasional 7-11 stop - but probably 40 transactions a month. So, I'll keep the card in my wallet, but I'll only use it for items up to $8 (10 + 8*1.1 = $0.188, or 2.35%). Anything more than that goes to my Starwood AMEX, which I value from historical usage at 2.25%.

Anybody have an idea for how long it will take to downgrade all of the accounts? I still receive 3% in top 3 categories but I am thinking that I might stop using this card since it seems I won't be able to reach the next $50 Cash Back milestone.

someone had posted that all Freedom Cards were supposed to be reduced to the 1% level by Oct 31st...so you may want to hold off and see...

MrMatt2532 said: Anybody have an idea for how long it will take to downgrade all of the accounts? I still receive 3% in top 3 categories but I am thinking that I might stop using this card since it seems I won't be able to reach the next $50 Cash Back milestone.

I believe someone said that you can trade 5000 points for $50. How close you are to the next $50 check will determine whether or not it's worth completing it or not. For example, if your other card is a flat 2% CashBack, then you would need $25+ accumulated for it to be worth completing the current $50 check. For 1.5% CashBack, you'd need $16.67+ accumulated. Just because your other card has a higher rate, it doesn't mean the Freedom should be scrapped ASAP. You need to look at your effective CashBack percentage of earning $50-(current CashBack), as compared to just never touching the card again. As an easy example, if you had $49 in CashBack, you'd complete it and if you had $1 only, you'd wouldn't. So somewhere in between those 2 values you're indifferent between finishing/not finishing up the $50 check.

MrMatt2532 said: Anybody have an idea for how long it will take to downgrade all of the accounts? I still receive 3% in top 3 categories but I am thinking that I might stop using this card since it seems I won't be able to reach the next $50 Cash Back milestone.

I'd stop if I were you, and wait for the letter. I'd be really surprised if you don't get it soon (like, within the next month or two). Not everyone gets the same letter. For example, I got one that said I'd still get 3% (with the same $600 cap in monthly purchases in these categories) for gas, groceries, and fast food, and 1% on everything else, and that my account would be charged a $30 annual fee, waived for the first year, and the $250/200 redemption would be discontinued. Other people got totally different new terms after the downgrade from what I understand, reading this thread and others also discussing Chase Freedom.

They've also been staggering the letters to different people. I got mine in June and my account was changed as of July 31, and my billing cycle ends on the 10th every month, so I have basically until July 9 to convert the card to a different product or close the account before I get hit with the $30 annual fee. So like I said, I think you should stop for now and wait to see what your new terms are. If you like them, then you can start using the card again, or try to change to something you like better.

DTASFAB said: MrMatt2532 said: Anybody have an idea for how long it will take to downgrade all of the accounts? I still receive 3% in top 3 categories but I am thinking that I might stop using this card since it seems I won't be able to reach the next $50 Cash Back milestone.

I'd stop if I were you, and wait for the letter. I'd be really surprised if you don't get it soon (like, within the next month or two). Not everyone gets the same letter. For example, I got one that said I'd still get 3% (with the same $600 cap in monthly purchases in these categories) for gas, groceries, and fast food, and 1% on everything else, and that my account would be charged a $30 annual fee, waived for the first year, and the $250/200 redemption would be discontinued. Other people got totally different new terms after the downgrade from what I understand, reading this thread and others also discussing Chase Freedom.

They've also been staggering the letters to different people. I got mine in June and my account was changed as of July 31, and my billing cycle ends on the 10th every month, so I have basically until July 9 to convert the card to a different product or close the account before I get hit with the $30 annual fee. So like I said, I think you should stop for now and wait to see what your new terms are. If you like them, then you can start using the card again, or try to change to something you like better.


Whether I would reach the same conclusion depends on the alternatives to Freedom in MrMatt's wallet. The impending arrival of a downgrade letter appears to be a speculation, and the probable range of 1 to 3% sounds better than a guaranteed 0 or 1% on the same spending (if those are the alternatives).

Pondus said: Whether I would reach the same conclusion depends on the alternatives to Freedom in MrMatt's wallet. The impending arrival of a downgrade letter appears to be a speculation, and the probable range of 1 to 3% sounds better than a guaranteed 0 or 1% on the same spending (if those are the alternatives).
That's true, but why do the alternatives necessarily already have to be in his wallet? There are good alternative cards that he can apply for now if he doesn't already have them. I agree with you that it depends on how much in cash rewards he has accumulated at this point. I was under the impression that he had just cashed out and was at or near $0. If he has substantial money in there now, I think he should keep spending to get it up to $50 as quickly as possible, cash it out, and stop using the account until he gets the letter. We know all Chase Freedom cards are being downgraded. It's just a question of when for each individual, since the letters are being staggered over several months for no apparent rhyme or reason.

DTASFAB said: Pondus said: Whether I would reach the same conclusion depends on the alternatives to Freedom in MrMatt's wallet. The impending arrival of a downgrade letter appears to be a speculation, and the probable range of 1 to 3% sounds better than a guaranteed 0 or 1% on the same spending (if those are the alternatives).
That's true, but why do the alternatives necessarily already have to be in his wallet? There are good alternative cards that he can apply for now if he doesn't already have them. I agree with you that it depends on how much in cash rewards he has accumulated at this point. I was under the impression that he had just cashed out and was at or near $0. If he has substantial money in there now, I think he should keep spending to get it up to $50 as quickly as possible, cash it out, and stop using the account until he gets the letter. We know all Chase Freedom cards are being downgraded. It's just a question of when for each individual, since the letters are being staggered over several months for no apparent rhyme or reason.

I may have gotten the wrong impression that we were talking about an extremely short time horizon, such as immediate spending diversion. But if you open it up to new accounts, sure, but then I would add to the list of unknowns MrMatt's sensitivity to new inquiries, to new accounts, and to jumping through hoops, and his current creditworthiness and the potential for downgrading of the alternatives not yet in his wallet. Make the optimization box even bigger, and the conclusion might be to stop worrying about it all and just work an extra hour or two per week.

WORK??????? That's the dirtiest word I've ever read here on FWF!

My Chase Freedom is the one with the 3 fixed 3% categories, groceries, fast food, and gas. Have people been getting "upgraded" from those as well? I just got another $250 check so I'm happy

FuzzyWombat said: My Chase Freedom is the one with the 3 fixed 3% categories, groceries, fast food, and gas. Have people been getting "upgraded" from those as well? I just got another $250 check so I'm happy

yes...and it seems like they are all be converted over to the 1% deal...many are being switched over on Oct 31st from what i have read here.....

We can thank those meddling douchebags in congress for this. All my rates have gone up and rewards have gone down as the result of their legislation designed to protect me from the mean evil credit card companies

I just cashed out $200 for $250 check from Chase Freedom last night. This is the 2nd $250 check that I got from this Freedom CC which I have for about 1 year. Look like everything in my CC is the same (crossing fingers).

I still have 3% from top 5 categories because I have a Chase Checking account. (Chase Exclusive) I live in California and my WaMu Free Checking will be migrated over to Chase.com on Oct 25. Does anyone know if this WaMu Free Checking will still qualify me for Chase Exclusives once the account migrates over even if I close my Chase Checking?

Just to let you guys know, i have $15 of $50 saved up. I don't use this card very much, so it could very well take 6 months to reach $50. I have a lot of other good cards (Schwab, Penfed, Forward), so I'm probably going to quit using this one. Assuming the card would only get 1% after the conversion, it wouldn't really make much sense to me unless I was at least half way to $50 before the switch.

ethanpark said: I still have 3% from top 5 categories because I have a Chase Checking account. (Chase Exclusive) I live in California and my WaMu Free Checking will be migrated over to Chase.com on Oct 25. Does anyone know if this WaMu Free Checking will still qualify me for Chase Exclusives once the account migrates over even if I close my Chase Checking?

Yes it will count. You can close your Chase checking after the conversion and have just the Chase Free EXTRA checking, and that will be enough to give you the "exclusive" benefit. Hope that helps.

SuperG03

Thanks, SuperG03. Mine is WaMu Free Checking. Is that the same thing as Chase Free EXTRA checking?

they're letting you keep the 3% on 5 catagories per month deal? I was under the impression that all Freedom Cards were being converted to 1%..that the $250 checks for $200 worth of points was out...and that the new deal for "exclusives" is just a 10 point bonus for each monthly transaction and additional 10% of total points on each purchase....This is what i see in the brochures available in the branches....

or are you just assuming you're keeping it because they haven't changed you over yet?

They haven't changed me over yet. I hope they never do.

ethanpark said: They haven't changed me over yet. I hope they never do.


same here

According to what SuperG03 posted in this thread last month, the rash of conversions planned for Oct. 30 won't hit people whose card has been open for less than 1 year. My current Freedom Exclusives card was issued this June, so I'm certainly hoping I get at least a full year out of it. I may well stop using it once I hit the magic $200 level.

Yeah, I opened my Chase Freedom card account in October 2008 I believe.

I have 2 Chase Freedom's any 3 from 15 for over a year
I was going to use Schwab 2% for everything but as i haven't received the upgrade, I'm just going to carry on with the 3 cards

I received the exciting update letter, and called to see if I could opt out of it. The CS rep told me I can't opt out and that they plan to update all Chase cards to "Ultimate Rewards", but I really hope they don't touch my Cash Plus Rewards.

ethanpark said: Thanks, SuperG03. Mine is WaMu Free Checking. Is that the same thing as Chase Free EXTRA checking?

Yes, WaMu FREE Checking = Chase Free EXTRA Checking after the conversion (should be Oct 25th for you).

SuperG03

craig10x said: they're letting you keep the 3% on 5 catagories per month deal? I was under the impression that all Freedom Cards were being converted to 1%..that the $250 checks for $200 worth of points was out...and that the new deal for "exclusives" is just a 10 point bonus for each monthly transaction and additional 10% of total points on each purchase....This is what i see in the brochures available in the branches....

or are you just assuming you're keeping it because they haven't changed you over yet?

Not everybody got the same letter. There are several different versions of Freedom, and apparently, there will continue to be. My understanding is that most ordinary Freedom cards are Visa, but mine was converted from a Gold World Mastercard in either December 2007 or January 2008, so it remained a World Mastercard after I requested the conversion. I do not have any deposit accounts with Chase, so I was getting 3 top categories out of 15 listed. People with Chase checking/savings accounts were getting 5 or 6 categories.

Upon downgrade, some people are getting 1% on everything across the board with 3% in rotating categories, a la Discover More. Those with Chase checking/savings accounts are getting the 10/10/10 offer, which isn't bad if most of your individual purchases are $15 or less. Still more people are getting to keep 3% on gas, groceries, and fast food plus the rotating categories, and are being charged a $30 annual fee. (Luckily they're waiving the $30 annual fee for the first year, starting with the actual conversion date, how generous of them.)

Nothing about this is being done across the board. Each individual account holder has to read their "upgrade" letter carefully. The change in terms can vary greatly from one account holder to the next, and the downgrade conversion date can also vary greatly. Just about the only thing that we know for sure is going to happen for everyone is that if/when every Freedom account is downgraded, the $200/250 offer will be gone. My understanding is that the only people who still have the $200/250 option available at this point are the ones who haven't been downgraded yet and are still getting 3 categories out of the 15 originally listed.

As for my account, I was put into the $30 AF fee group and my downgrade took place on July 31. By this time next week, I'll have made my last real purchase on this account before stuffing it in a sock drawer, and by this time next month, I will have completely cashed out all my accumulated cash rewards (down to the final penny, despite Chase's efforts to make that much more difficult than it had been previously) and will call them to convert the account to one without the annual fee.

Thanks for the explanation, dtasfab.....

I still have my original Rewards Plus Card (the other card, besides Cash Plus that gets the 5% on gas/grocery/drug stores) and surprisingly, they STILL haven't changed mine as of yet...of course, i am not complaining....

Strange how they do different things with different people...on all the cards (including the Freedom Card)....

I don't remember when I opened, but its probably been around a year. I think I am still getting 3% on the top 3 but it doesn't seem like it. It sucks that they dont break down the bill into categories.

Is Chase shutting down the 3% Freedom rewards on Oct 30? Or it's a case-by-case situation?

supposedly is being shut down for everyone..but not by Oct 31st for everyone.....

It's being shut down for everyone, but the date is what's a case-by-case basis.

the date for me is based on my card's expiration date.

For those like me, a reminder to cash out before 10/31. My latest rewards just hit, got my last $250 check



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