Chase Freedom Card is being downgraded

I'd recommend making your Chase Freedom Card into a Chase Exclusives Freedom Card, all you need is to open up a checking account at Chase.

As a Chase Checking customer, the Freedom card will continue to have top 3% Cash Back in the top FIVE categories, redeem rewards at as little as $10 and they don't expire.

This way, you can be sure your card isn't downgraded.

You can always get the basic checking account, and put in a few dollars each month or use your debit card 5 times a month to keep it open and free. Combine it with the $125 bonus!

ThePessimist said:
Thanks for the suggestion!

On the regular Freedom, I usually wait to accumulate $200 so I can redeem for $250. Does the Exclusives Freedom have an earlier breakpoint where you can get a 25% bonus?

I'm also waiting to hit the $200 mark to get the bonus. Unfortunately, there is no earlier breakpoint with the exclusives version.

ucb11 said: I'd recommend making your Chase Freedom Card into a Chase Exclusives Freedom Card, all you need is to open up a checking account at Chase.

As a Chase Checking customer, the Freedom card will continue to have top 3% Cash Back in the top FIVE categories, redeem rewards at as little as $10 and they don't expire.

This way, you can be sure your card isn't downgraded.

You can always get the basic checking account, and put in a few dollars each month or use your debit card 5 times a month to keep it open and free. Combine it with the $125 bonus!

My experience has been negative since Chase changed me from top 3 to top 5 categories. Reason: They now use your average in all top 5 categories. The last two months I have only gotten about $8.00 out of the maximum $12.00. When I had the top 3 categories, I always got the full $12.00. I spend about $1,100.00 per month on the card. YMMV

Chase exclusives does not need to be applied for..anyone who has a Freedom Card and opens a Chase Checking account at any time, automatically is upgraded to "exclusives" and gets the 5 catagories and can cash out rewards as little as $10 if they desire to (without having to wait for until they can get a $50 check)....

It generally takes one statement cycle to see the upgrade added on....

CRAIG10X states
"I also have a Freedom card (with the full benefits) and have mostly been using that for a long time, but i think i will be going back to using my Rewards Plus as the primary card again...since i have seen nothing to indicate that i will get changed any time soon.....
Perhaps Chase has decided to leave the rest alone "

If you are lucky enough to have the rewards plus card and are willing to use multiple cards you probably should use it for the 5% categories until you hit the rewards limit of $300 (If I remember right). Once you have hit the limit for the year, you can worry less about them changing terms on you. I am assuming you or your family have enough Freedom cards to continue getting 3% on groceries and gasoline (or have another card for 5% gasoline).

In a few circumstances (notably when you do not normally use the full $12 bonus on you Freedom card (or cards), you may wish to use it for enough groceries, gasoline, drugstores to get the maximum, and then use the rewards card for the rest of that months spending on preferred categories. Admittedly, the extra work may not make this superior to using the rewards card only until you hit the annual limit, and then switching.

If your preferred spending (groceries, etc.) is high enough so it exceeds $600 per month), the optimal strategy may be to spend $600 on preferred categories each month (or less to be sure) and the finish up you grocery, etc. shopping with your rewards card. This way you will get your $12 per month from the freedom card (or close to it), rather than just for the months after you stop using your rewards card. You could manage it to still hit the $300 limit on the rewards card.

Obviously this system has some hassle, and might require looking at the web site before each shopping trip and possibly dividing a grocery checkout into two parts, paying with a different card. You might avoid the latter hassle, by stopping using freedom when with next shopping trip is likely to go over the limit. (i.e. you see you have spent $450 on preferred items and your typical grocery shopping is about $200. You would then take your rewards card.

Since it takes $6000 in spending on prefered categories to hit the 4300 limit, it would take $500 per month in preferred spending to fully utilize it. If you average preferred spending was $1, per month, you might wish to try to $500 on rewards and $500 on freedom. This would give $10 per month, or 180 total on Freedom plus the $300 from the Rewards card.

This obviouly involves some looking at the web site part way through the month and considering complexities such as whether you would come out better not buying groceries with the Freedom card and doing all $600 in spending on other categories such as Department stores. If you have multiple Freedom cards in the family, this may be less of an issue since you can use the other cards for other purposes, and the problem is then to be sure you get lyour $300 per year from Rewards and 3% on your remaining groceries, drugstores, and gasline.

jruser said: I liked the idea of the Chase Freedom Exclusives, but it doesn't appear they have a free, no-requirements checking account.

Not sure if it's worth the hassle.

Though the Free Checking has a Direct Deposit Requirement with Chase...just about any bank/cu/brokerage ACH push (unofficially, of course) into them once a month (even, say $10) will be seen as a Direct Deposit to their computer...i think the only one this doesn't seem to work with is ING Direct....so, if you can do that..and keep a small balance in the account, you can make it work for you....

palswim said: jruser said: I liked the idea of the Chase Freedom Exclusives, but it doesn't appear they have a free, no-requirements checking account.

Not sure if it's worth the hassle.

I don't know if WaMu still exists during this transitionary phase, but they have a free, no-requirement checking account. If you can still apply for one of those, then the WaMu rep told me Chase plans to grandfather them once they acquire everything.It's still possible to signup for a free checking account with WaMu features even though the bank has been rebranded as Chase. Just go to wamu.com

ProfessorEd said: Perhaps Depreshun could explain more precisely just how the "average" calculation is done, since it is not obvious how they are failing to give you the full amount and what piece of fine print they are relying on. Those who are willing to use multiple cards might then see a strategy for using that card that at least gives them the full $12 per month (from $600 per month spending on the relevant categories).

Ed. As I see it, they force all (5) categories into the calculation every month, so if your lowest couple categories are low dollar amounts it averages down? That's the impression I get anyways. One thing is for sure - my spending pattern has not changed. If anything, it has been higher the last couple months. Ever since the (5) categories appeared I cannot obtain the $12.

I don't get it either? I'm spending more nowadays and can't hit the "$600" needed to max out the 3%.

Chase's terms: "Maximum bonus rebate accumulation on Net Purchases earning a
2% bonus rebate is $12 per billing cycle, which equates to $600
in Net Purchases. Maximum bonus point accumulation on Net Purchases earning 2 bonus points is 1,200
points per billing cycle, which equates to $600 in Net Purchases. The top bonus categories earning a 2%
bonus rebate or 2 bonus points, as applicable, vary per billing cycle depending on your spending habits.
There is no maximum amount of base rebates or base points, as applicable, that can be earned on Net
Purchases earning a 1% rebate or 1 point (which includes Net Purchases in bonus categories after you reach
the per billing cycle maximum accumulation and bonus categories that are not entitled to bonus rebates or
bonus points that billing cycle)."

Right, with the regular Freedom card you need to spend $600 in your top 3 spending categories to get the max $12 (2% of $600) bonus (in addition to the 1% rewards on all purchases).
With the checking account your top 5 spending categories count towards the $600 you need to spend to get the max bonus of $12. So top 5 will always be equal or better to the top 3 method.

With the "Rewards Plus" card you don't need a stupid checking account, and you get unlimited bonus computed for your top 6 spending categories. There is a $30 annual fee but I usually get about $40 (2% of $2000) in bonus rewards (in addition to the usual 1%) every month. So by spending $2.50 per month for the annual fee ($30 divided by 12), I'm getting $28 ($40 compared to $12) more than what I would be able to get with regular Freedom card (or the exclusive Freedom card) which are limited to $12 bonus. Plus I know that if I make a big purchase I will get the full 2% bonus on it no matter how much it is (providing that it's in one of the top 6 spending categories, like department stores). Do the math.

For those lucky enough to still have 5% card, and a Freedom card, the following may be useful.

If your preferred spending (groceries, etc.) is high enough so it exceeds $600 per month), the optimal strategy may be to spend $600 on preferred categories each month (or less to be sure) and the finish up you grocery, etc. shopping with your rewards card. This way you will get your $12 per month from the freedom card (or close to it), rather than just for the months after you stop using your rewards card. You could manage it to still hit the $300 limit on the rewards card.

Obviously this system has some hassle, and might require looking at the web site before each shopping trip and possibly dividing a grocery checkout into two parts, paying with a different card. You might avoid the latter hassle, by stopping using freedom when with next shopping trip is likely to go over the limit. (i.e. you see you have spent $450 on preferred items and your typical grocery shopping is about $200. You would then take your rewards card.

Since it takes $6000 in spending on preferred categories to hit the $300 limit, it would take $500 per month in preferred spending to fully utilize it. If you average preferred spending was $1000, per month, you might wish to try for $500 on Rewards and $500 on Freedom. This would give $15 per month on Freedom, (or $180 total) plus the $300 from the Rewards card.

This obviously involves some looking at the web site part way through the month and considering complexities such as whether you would come out better not buying groceries with the Freedom card and doing all $600 in spending on other categories such as Department stores. If you have multiple Freedom cards in the family, this may be less of an issue since you can use the other cards for other purposes (I use one card that never leaves the house for utilities, cable, mail Drugstore purchase), and the problem is then to be sure you get your $300 per year from Rewards and 3% on your remaining groceries, drugstores, and gasoline.

I had a 5% card and a countrywide card, they closed both and gave me a chase freedom. I guess I should have cancelled the countrywide first instead of milking the last 50 reward and maybe this would not have happened

ProfessorEd said: For those lucky enough to still have 5% card, and a Freedom card, the following may be useful.

If your preferred spending (groceries, etc.) is high enough so it exceeds $600 per month), the optimal strategy may be to spend $600 on preferred categories each month (or less to be sure) and the finish up you grocery, etc. shopping with your rewards card. This way you will get your $12 per month from the freedom card (or close to it), rather than just for the months after you stop using your rewards card. You could manage it to still hit the $300 limit on the rewards card.

Obviously this system has some hassle, and might require looking at the web site before each shopping trip and possibly dividing a grocery checkout into two parts, paying with a different card. You might avoid the latter hassle, by stopping using freedom when with next shopping trip is likely to go over the limit. (i.e. you see you have spent $450 on preferred items and your typical grocery shopping is about $200. You would then take your rewards card.

Since it takes $6000 in spending on preferred categories to hit the $300 limit, it would take $500 per month in preferred spending to fully utilize it. If you average preferred spending was $1000, per month, you might wish to try for $500 on Rewards and $500 on Freedom. This would give $15 per month on Freedom, (or $180 total) plus the $300 from the Rewards card.

This obviously involves some looking at the web site part way through the month and considering complexities such as whether you would come out better not buying groceries with the Freedom card and doing all $600 in spending on other categories such as Department stores. If you have multiple Freedom cards in the family, this may be less of an issue since you can use the other cards for other purposes (I use one card that never leaves the house for utilities, cable, mail Drugstore purchase), and the problem is then to be sure you get your $300 per year from Rewards and 3% on your remaining groceries, drugstores, and gasoline.

this was my daily spender card, but, it looks like it will be hitting the feecee tank. there will be no reason for the use of this card. ON THE FEECER BLOCK

Wow. I'm soo close. Last I checked it was at $160. Do you know if the check has to be requested by June 30 or do you just have to reach $200 by the June 30th billing period? Thanks for the heads up.

ProfessorEd said: I found three letters in my mail today announcing "improvements" to my family's Freedom cards. No more 3%, and after June 30 no more $250 for $200.
So finally...A few threads in the forum all seem to indicate that Chase is doing a massive clean-up of "legacy" reward programs.

Let see how they are going to deal with the Freedom Plus. With fees involved they are probably not moving as quickly. Ii just hope that it will hang on for a while.

What crappy luck. I am at around $195 this month. But it seems they've already disabled the $200 for $250 reward check option, so it's probably a moot point to push it over $200 in the month or so left. I really liked the Freedom Card, but nothing good lasts in this bad economy.

These assclowns. Rule No. 1 is to be honest with your customers. If you're going to downgrade the rewards program, fine, do it and explain that "in these difficult economic times..." But don't slash my rewards and tell me the letter is about "improvements to your account." Is it that you're stupid, Deb Walden, Executive Vice President, Customer Experience, or that you think I am?

From high-five-figure per year daily family spender to sock drawer for you, Chase Freedom.

I just hit $200, but I had the account was set for point rewards instead of cash. Hopefully my change request gets processed in time.

I'm bummed. I received a letter yesterday telling me that my Chase Rewards card was being changed into a Chase Freedom card at the end of June. And I'm supposed to be happy about it because the rewards are unlimited and do not expire. However, this change means I'll no longer be getting 5% points on my gas/grocery/pharmacy purchases, but instead will be getting 1% points and 3% on quarterly floating categories. Doesn't sound like a good deal to me...

I called Chase to see if I could decline the 'offer,' but was told that they're working on converting all of their bonus programs to this 1%/3% version.

Question -
I just took a look at the Chase Rewards rewards and it looks like 3,000 points = $25 gift card or 3,500 = $25 check. Should I redeem points now or wait until it changes to Chase Freedom?

Thanks!