Chase Freedom Card Upgrade

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sport
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Chase Freedom Card Upgrade

Post by sport »

I have had a Chase Freedom Card for many years. It has not been my primary card, but sometimes the rotating categories are worthwhile for me. It has been especially good when the 5% category is "wholesale clubs" because we shop regularly at Costco.
Today, I received notification in an email that my account is being "upgraded" to a Chase Freedom Unlimited Card. Instead of rotating categories, it has fixed special categories and 1.5% rebate on everything else. The email does not offer a choice to keep the old card.
So, some features of the Unlimited Card are better and others are worse. I am not sure which I would prefer, if I had a choice.

Has anyone else received this notice? I am wondering if they are doing away with the old Freedom Card. I don't want to call to find out, unless I am certain I do not want the upgrade.
andreas
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Re: Chase Freedom Card Upgrade

Post by andreas »

Definitely keep the current card!

You can just get the Freedom Unlimited Card additionally if you want to and get the sign on bonus.
The card you are having is not issued anymore and was replaced by a MasterCard, which you cannot use in Costco, so I would hold on to your current card and the sweet 5% cashback as long as possible.
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sport
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Re: Chase Freedom Card Upgrade

Post by sport »

Since my current card is no longer available, and they are not offering me a choice, it seems that it is being phased out.
02nz
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Re: Chase Freedom Card Upgrade

Post by 02nz »

sport wrote: Wed Nov 24, 2021 2:04 pm Since my current card is no longer available, and they are not offering me a choice, it seems that it is being phased out.
I also have an old Freedom card, have not received such a notice. I would call Chase and see if they can convert it to a Freedom Flex instead of Freedom Unlimited - the Flex has the 5% rotating categories. (BTW they stopped offering the regular Freedom card to new customers a long time ago, around when the Freedom Flex was introduced.)
atdharris
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Re: Chase Freedom Card Upgrade

Post by atdharris »

I have not had this happen to me, but I read elsewhere Chase has begun to convert the old Freedom to the Freedom Unlimited. They have the Freedom Flex now, which is the same as the old Freedom. I am not sure if you have to apply outright for that or if you can have them product change to that card. I'm surprised they did this without giving more notice.
atdharris
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Re: Chase Freedom Card Upgrade

Post by atdharris »

02nz wrote: Wed Nov 24, 2021 2:14 pm
sport wrote: Wed Nov 24, 2021 2:04 pm Since my current card is no longer available, and they are not offering me a choice, it seems that it is being phased out.
I also have an old Freedom card, have not received such a notice. I would call Chase and see if they can convert it to a Freedom Flex instead of Freedom Unlimited - the Flex has the 5% rotating categories. (BTW they stopped offering the regular Freedom card to new customers a long time ago, around when the Freedom Flex was introduced.)
The downside to the Freedom Flex is it is a mastercard, so you cannot use it at Costco.
02nz
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Re: Chase Freedom Card Upgrade

Post by 02nz »

atdharris wrote: Wed Nov 24, 2021 2:17 pm
02nz wrote: Wed Nov 24, 2021 2:14 pm
sport wrote: Wed Nov 24, 2021 2:04 pm Since my current card is no longer available, and they are not offering me a choice, it seems that it is being phased out.
I also have an old Freedom card, have not received such a notice. I would call Chase and see if they can convert it to a Freedom Flex instead of Freedom Unlimited - the Flex has the 5% rotating categories. (BTW they stopped offering the regular Freedom card to new customers a long time ago, around when the Freedom Flex was introduced.)
The downside to the Freedom Flex is it is a mastercard, so you cannot use it at Costco.
There are better cards for maximizing rewards at Costco anyway, and if you really want to use the Freedom Flex at Costco you can - just buy Costco Shop cards on the website, which does take all cards except Amex.
Onlineid3089
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Re: Chase Freedom Card Upgrade

Post by Onlineid3089 »

Interesting, I have the old Freedom card and also had not seen anything about this. Did they give you any perks for the conversion? I just logged onto my Chase account and see that I have a custom offer of the Freedom Unlimited with the normal $200 bonus after $500 spend, but would also get 12 months with 5% at grocery stores. I'm thinking about grabbing that as a new card while keeping the old Freedom for as long as they let me.

Edited to add that google says that is just their normal offer right now. Are you at least getting those perks with the forced conversion?
BruinBones
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Re: Chase Freedom Card Upgrade

Post by BruinBones »

Chase is discontinuing the Freedom. They are product changing you to the Freedom Unlimited. The only benefit of accepting the change to Unlimited is keeping the average age of your account, if that is important to you. By discontinuing the Freedom, Chase is essentially discontinuing the 5% cash back at Costco.
atdharris
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Re: Chase Freedom Card Upgrade

Post by atdharris »

02nz wrote: Wed Nov 24, 2021 2:20 pm
atdharris wrote: Wed Nov 24, 2021 2:17 pm
02nz wrote: Wed Nov 24, 2021 2:14 pm
sport wrote: Wed Nov 24, 2021 2:04 pm Since my current card is no longer available, and they are not offering me a choice, it seems that it is being phased out.
I also have an old Freedom card, have not received such a notice. I would call Chase and see if they can convert it to a Freedom Flex instead of Freedom Unlimited - the Flex has the 5% rotating categories. (BTW they stopped offering the regular Freedom card to new customers a long time ago, around when the Freedom Flex was introduced.)
The downside to the Freedom Flex is it is a mastercard, so you cannot use it at Costco.
There are better cards for maximizing rewards at Costco anyway, and if you really want to use the Freedom Flex at Costco you can - just buy Costco Shop cards on the website, which does take all cards except Amex.
Right. I do that from time to time with my BofA Customized Cash card or just use the card outright for 3.5% back in the warehouse. I don't know any betters cards than that one, and the 5x points was nice at Costco when you were trying to build up UR points.
MrJedi
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Re: Chase Freedom Card Upgrade

Post by MrJedi »

I've read on other forums that other people are getting force changed from old Freedom to Freedom Unlimited. Others, myself included, still have the old Freedom. It seems Chase is doing a phased rollout of this change.

You can ask to change to Freedom Flex which is actually mostly better than the old Freedom. It has the same 5% categories but also includes 3% on restaurants and drugstores. The big caveat is that it comes in MasterCard instead of Visa. This can make a difference for Costco customers.
atdharris
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Re: Chase Freedom Card Upgrade

Post by atdharris »

MrJedi wrote: Wed Nov 24, 2021 2:38 pm I've read on other forums that other people are getting force changed from old Freedom to Freedom Unlimited. Others, myself included, still have the old Freedom. It seems Chase is doing a phased rollout of this change.

You can ask to change to Freedom Flex which is actually mostly better than the old Freedom. It has the same 5% categories but also includes 3% on restaurants and drugstores. The big caveat is that it comes in MasterCard instead of Visa. This can make a difference for Costco customers.
If Chase no longer plans to do warehouse 5% categories for the Freedom, there is no point to have it anyway. Even a flat 2% back is better. Once Chase converts me to the CFU, I'll just cancel and apply for the Freedom Flex. At least I'll get $200 as a sign up bonus.
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sport
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Re: Chase Freedom Card Upgrade

Post by sport »

Onlineid3089 wrote: Wed Nov 24, 2021 2:22 pm Interesting, I have the old Freedom card and also had not seen anything about this. Did they give you any perks for the conversion? I just logged onto my Chase account and see that I have a custom offer of the Freedom Unlimited with the normal $200 bonus after $500 spend, but would also get 12 months with 5% at grocery stores. I'm thinking about grabbing that as a new card while keeping the old Freedom for as long as they let me.

Edited to add that google says that is just their normal offer right now. Are you at least getting those perks with the forced conversion?
Nope! No $200 or 5% grocery perks.
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sport
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Re: Chase Freedom Card Upgrade

Post by sport »

MrJedi wrote: Wed Nov 24, 2021 2:38 pm I've read on other forums that other people are getting force changed from old Freedom to Freedom Unlimited. Others, myself included, still have the old Freedom. It seems Chase is doing a phased rollout of this change.

You can ask to change to Freedom Flex which is actually mostly better than the old Freedom. It has the same 5% categories but also includes 3% on restaurants and drugstores. The big caveat is that it comes in MasterCard instead of Visa. This can make a difference for Costco customers.
I suspect that the reason they have the matching categories only on a MasterCard is that too many Costco customers were taking full advantage of that 5% match. Chase wants to offer those matches as an inducement to use their card, but they really do not want too many people taking full advantage of the match. Costco has a lot of customers. That match must have been very expensive for Chase.
Grasshopper
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Re: Chase Freedom Card Upgrade

Post by Grasshopper »

We have his and hers Chase Freedoms, and his Chase Flex, and hers Ultimate. We each received 5% groceries for a year in different years and $200 bonus. Plus Ms.G received $100 for me applying for my Flex card. As of Sept 2021.
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anon_investor
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Re: Chase Freedom Card Upgrade

Post by anon_investor »

I have not received such a message. But I have the original Freedom and Freedom Unlimited already. I assume they wouldn't make me have a duplicate Freedom Unlimited.
LittleMaggieMae
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Re: Chase Freedom Card Upgrade

Post by LittleMaggieMae »

I just logged onto my Chase account and see that I have a custom offer of the Freedom Unlimited with the normal $200 bonus after $500 spend, but would also get 12 months with 5% at grocery stores. I'm thinking about grabbing that as a new card while keeping the old Freedom for as long as they let me.
I accepted this offer when I logged into my Chase Account back in October. At this point, my Chase Freedom card is still working - I have both cards. I mostly took the Unlimited card offer because of the $200 bonus and the 5% at groceries. I had a couple of things to buy that would easily get me to the $500 requirement - without changing my CC routine (as long as I remembered to use the new Unlimited card to make the purchases. ) It worked out great - I've fulfilled the requirements as of last weekend.
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tuningfork
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Re: Chase Freedom Card Upgrade

Post by tuningfork »

anon_investor wrote: Wed Nov 24, 2021 4:44 pm I have not received such a message. But I have the original Freedom and Freedom Unlimited already. I assume they wouldn't make me have a duplicate Freedom Unlimited.
They certainly might. Back in the day I had a Chase cashback card I no longer remember the name of, and I also had a Freedom. When they discontinued the old one, they force upgraded it to a Freedom, so I had two Freedoms.
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anon_investor
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Re: Chase Freedom Card Upgrade

Post by anon_investor »

tuningfork wrote: Wed Nov 24, 2021 8:29 pm
anon_investor wrote: Wed Nov 24, 2021 4:44 pm I have not received such a message. But I have the original Freedom and Freedom Unlimited already. I assume they wouldn't make me have a duplicate Freedom Unlimited.
They certainly might. Back in the day I had a Chase cashback card I no longer remember the name of, and I also had a Freedom. When they discontinued the old one, they force upgraded it to a Freedom, so I had two Freedoms.
Ugg. I plan to downgrade my Sapphire Preferred next year to the Freedom Flex, I don't need all these Chase cards but it hurts my credit to close them...
student
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Re: Chase Freedom Card Upgrade

Post by student »

I saw it on youtube about this. Just call them and ask them to covert it back.
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Rainier
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Re: Chase Freedom Card Upgrade

Post by Rainier »

BruinBones wrote: Wed Nov 24, 2021 2:31 pm Chase is discontinuing the Freedom. They are product changing you to the Freedom Unlimited. The only benefit of accepting the change to Unlimited is keeping the average age of your account, if that is important to you. By discontinuing the Freedom, Chase is essentially discontinuing the 5% cash back at Costco.
What happens if you have both?
tibbitts
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Re: Chase Freedom Card Upgrade

Post by tibbitts »

I had the old Freedom, then applied for a Flex last year, so now I have both. No Unlimited though; not sure that would be useful for me. I have made use of having both cards because I've hit the maximum rebate (particularly, as in the current quarter, when Paypal is one of the categories.) I'll miss having both.
biker2035
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Re: Chase Freedom Card Upgrade

Post by biker2035 »

I have the old Freedom card and saw the same advertisement for $200 after spending $500. Applied, got it, spent $500 and got my $200. Both cards are active,
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beyou
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Re: Chase Freedom Card Upgrade

Post by beyou »

Seems to be common now, switching select customers to 1.5% flat cash back from rotating categories. I think it can be for either of 2 extremes. Lack of use, they are trying to get some customers to use. More commonly they are doing this for customers who properly game cards and use the “right” card for each category and avoid 1% “other” categories. Amex and Bank of America sent offers to switch, with BofA offering $200 bonus to switch.
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anon_investor
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Re: Chase Freedom Card Upgrade

Post by anon_investor »

beyou wrote: Thu Nov 25, 2021 1:53 am Seems to be common now, switching select customers to 1.5% flat cash back from rotating categories. I think it can be for either of 2 extremes. Lack of use, they are trying to get some customers to use. More commonly they are doing this for customers who properly game cards and use the “right” card for each category and avoid 1% “other” categories. Amex and Bank of America sent offers to switch, with BofA offering $200 bonus to switch.
I think it is one thing to offer customers the option to switch, another if they switch you without notice.
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beyou
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Re: Chase Freedom Card Upgrade

Post by beyou »

anon_investor wrote: Thu Nov 25, 2021 7:19 am
beyou wrote: Thu Nov 25, 2021 1:53 am Seems to be common now, switching select customers to 1.5% flat cash back from rotating categories. I think it can be for either of 2 extremes. Lack of use, they are trying to get some customers to use. More commonly they are doing this for customers who properly game cards and use the “right” card for each category and avoid 1% “other” categories. Amex and Bank of America sent offers to switch, with BofA offering $200 bonus to switch.
I think it is one thing to offer customers the option to switch, another if they switch you without notice.
Of course, but my point was that there are 2 economic incentives at play here, lack of use and gaming to only spend in 3-5% + categories. There are actually 3 ways I have seen the implementation carried out :

1) As above, forced by phasing out a card. Clearly Chase is not doing so universally, as I and others have not been forced (yet) on this card.

2) Modest incentives to switch, dependent on some minimal spend on new card. $200 from B of A offered recently to go from categories (we were “gaming”) to flat 1.5

3) Higher incentives but never fulfilled. Amex sent me an offer of $1000 to switch products to flat 1.5% but when I tried to take the optional switch, the link led to a dead page. Called CS, and they denied it was real, then after some discussion including an offer code in the email, they finally discovered it was “real” but could not implement on the call. Told me would be investigated within 30 days and setup for me. Never happened. Too good to be true offer they apparently regretted. Still have older product and only use for 10-20% off deals on top of the usual 1-3% cash back. Which means I rarely use for more than 1-2 charges in a month. Their loss.

I prefer simplicity and getting a cash bonus to move that way suits me. Wish Amex came through. But even without a bonus, wouldn’t upset me. But they should go to 2% flat to be competitive with Citibank. Why use 1.5 when I have a 2% card ?
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anon_investor
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Re: Chase Freedom Card Upgrade

Post by anon_investor »

beyou wrote: Thu Nov 25, 2021 7:30 am
anon_investor wrote: Thu Nov 25, 2021 7:19 am
beyou wrote: Thu Nov 25, 2021 1:53 am Seems to be common now, switching select customers to 1.5% flat cash back from rotating categories. I think it can be for either of 2 extremes. Lack of use, they are trying to get some customers to use. More commonly they are doing this for customers who properly game cards and use the “right” card for each category and avoid 1% “other” categories. Amex and Bank of America sent offers to switch, with BofA offering $200 bonus to switch.
I think it is one thing to offer customers the option to switch, another if they switch you without notice.
Of course, but my point was that there are 2 economic incentives at play here, lack of use and gaming to only spend in 3-5% + categories. There are actually 3 ways I have seen the implementation carried out :

1) As above, forced by phasing out a card. Clearly Chase is not doing so universally, as I and others have not been forced (yet) on this card.

2) Modest incentives to switch, dependent on some minimal spend on new card. $200 from B of A offered recently to go from categories (we were “gaming”) to flat 1.5

3) Higher incentives but never fulfilled. Amex sent me an offer of $1000 to switch products to flat 1.5% but when I tried to take the optional switch, the link led to a dead page. Called CS, and they denied it was real, then after some discussion including an offer code in the email, they finally discovered it was “real” but could not implement on the call. Told me would be investigated within 30 days and setup for me. Never happened. Too good to be true offer they apparently regretted. Still have older product and only use for 10-20% off deals on top of the usual 1-3% cash back. Which means I rarely use for more than 1-2 charges in a month. Their loss.

I prefer simplicity and getting a cash bonus to move that way suits me. Wish Amex came through. But even without a bonus, wouldn’t upset me. But they should go to 2% flat to be competitive with Citibank. Why use 1.5 when I have a 2% card ?
I am guilty of only using the Chase Freedom on purchases where I get 5% cash back. Hopefully they do not force convert me to the Chase Freedom Unlimited, which I already have. I plan to downgrade my Chase Sapphire Preferred to a Chase Freedom Flex early next year before the $95 annual fee hits. I now have Bank of America Preferred Rewards Platinum Honors status, so a majority of my credit card spend goes on Bank of America credit cards. I only will use my Chase cards if I can net higher cash back, so basically the 5% cash back categories or if they have promo offers. I also want to keep the cards since I have had them a long time, so canceling would likely hurt my credit score.
Nowizard
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Re: Chase Freedom Card Upgrade

Post by Nowizard »

No notice regarding our Chase Freedom. We do spend regularly at Costco but also use the card heavily for other purchases, essentially paying no attention to the 5% items. Perhaps, there is a relationship between total and 5% purchases that drives the switch. We would definitely get another Visa to make Costco purchases easier.

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sport
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Re: Chase Freedom Card Upgrade

Post by sport »

Nowizard wrote: Thu Nov 25, 2021 9:07 am No notice regarding our Chase Freedom. We do spend regularly at Costco but also use the card heavily for other purchases, essentially paying no attention to the 5% items. Perhaps, there is a relationship between total and 5% purchases that drives the switch. We would definitely get another Visa to make Costco purchases easier.
Get the Costco Visa card. You get 2% rebate on all Costco purchases plus additional perks.
atdharris
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Re: Chase Freedom Card Upgrade

Post by atdharris »

I have both the Freedom and Freedom Unlimited. I wonder if they will convert those of us with both to have two CFUs.... if so, there is no reason not to cancel one and apply for the CFF.
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anon_investor
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Re: Chase Freedom Card Upgrade

Post by anon_investor »

atdharris wrote: Thu Nov 25, 2021 12:53 pm I have both the Freedom and Freedom Unlimited. I wonder if they will convert those of us with both to have two CFUs.... if so, there is no reason not to cancel one and apply for the CFF.
It could hurt your credit score...
02nz
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Re: Chase Freedom Card Upgrade

Post by 02nz »

anon_investor wrote: Thu Nov 25, 2021 12:57 pm
atdharris wrote: Thu Nov 25, 2021 12:53 pm I have both the Freedom and Freedom Unlimited. I wonder if they will convert those of us with both to have two CFUs.... if so, there is no reason not to cancel one and apply for the CFF.
It could hurt your credit score...
There's so much FUD about credit scores. Most people way overthink it. Applying for a credit card will tend to cause a tiny hit - < 10 points - to your credits core, and it's temporary. If your overall credit utilization goes down (because of the new card's credit limit), you might even see your credit score go up. And unless you're shopping for a loan AND on the edge, where a small drop could cause your rate to go up, it just doesn't matter. Most Bogleheads probably have scores in the high-700s or 800 and up, where applying for a credit card (or even several) won't have any impact on the interest rates you'll get.
vshun
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Re: Chase Freedom Card Upgrade

Post by vshun »

atdharris wrote: Wed Nov 24, 2021 2:17 pm
02nz wrote: Wed Nov 24, 2021 2:14 pm
sport wrote: Wed Nov 24, 2021 2:04 pm Since my current card is no longer available, and they are not offering me a choice, it seems that it is being phased out.
I also have an old Freedom card, have not received such a notice. I would call Chase and see if they can convert it to a Freedom Flex instead of Freedom Unlimited - the Flex has the 5% rotating categories. (BTW they stopped offering the regular Freedom card to new customers a long time ago, around when the Freedom Flex was introduced.)
The downside to the Freedom Flex is it is a mastercard, so you cannot use it at Costco.
Workaround is simple, go to Costco.com and buy $1500 worth of Costco gift cards, then spend them after. I do it with both DIscover cards when they have warehouse clubs as category and Costco.com seems to accept all cards.
OpenMinded1
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Re: Chase Freedom Card Upgrade

Post by OpenMinded1 »

LittleMaggieMae wrote: Wed Nov 24, 2021 4:53 pm
I just logged onto my Chase account and see that I have a custom offer of the Freedom Unlimited with the normal $200 bonus after $500 spend, but would also get 12 months with 5% at grocery stores. I'm thinking about grabbing that as a new card while keeping the old Freedom for as long as they let me.
I accepted this offer when I logged into my Chase Account back in October. At this point, my Chase Freedom card is still working - I have both cards. I mostly took the Unlimited card offer because of the $200 bonus and the 5% at groceries. I had a couple of things to buy that would easily get me to the $500 requirement - without changing my CC routine (as long as I remembered to use the new Unlimited card to make the purchases. ) It worked out great - I've fulfilled the requirements as of last weekend.
If I recall correctly, I don't think you get the 5% at Walmart or Target because they aren't strictly grocery stores.
02nz
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Re: Chase Freedom Card Upgrade

Post by 02nz »

OpenMinded1 wrote: Thu Nov 25, 2021 1:33 pm
LittleMaggieMae wrote: Wed Nov 24, 2021 4:53 pm
I just logged onto my Chase account and see that I have a custom offer of the Freedom Unlimited with the normal $200 bonus after $500 spend, but would also get 12 months with 5% at grocery stores. I'm thinking about grabbing that as a new card while keeping the old Freedom for as long as they let me.
I accepted this offer when I logged into my Chase Account back in October. At this point, my Chase Freedom card is still working - I have both cards. I mostly took the Unlimited card offer because of the $200 bonus and the 5% at groceries. I had a couple of things to buy that would easily get me to the $500 requirement - without changing my CC routine (as long as I remembered to use the new Unlimited card to make the purchases. ) It worked out great - I've fulfilled the requirements as of last weekend.
If I recall correctly, I don't think you get the 5% at Walmart or Target because they aren't strictly grocery stores.
I believe that's correct, although certain Walmart Neighborhood stores apparently do get coded as grocery stores and therefore get the 5X.
02nz
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Re: Chase Freedom Card Upgrade

Post by 02nz »

vshun wrote: Thu Nov 25, 2021 1:25 pm
atdharris wrote: Wed Nov 24, 2021 2:17 pm
02nz wrote: Wed Nov 24, 2021 2:14 pm
sport wrote: Wed Nov 24, 2021 2:04 pm Since my current card is no longer available, and they are not offering me a choice, it seems that it is being phased out.
I also have an old Freedom card, have not received such a notice. I would call Chase and see if they can convert it to a Freedom Flex instead of Freedom Unlimited - the Flex has the 5% rotating categories. (BTW they stopped offering the regular Freedom card to new customers a long time ago, around when the Freedom Flex was introduced.)
The downside to the Freedom Flex is it is a mastercard, so you cannot use it at Costco.
Workaround is simple, go to Costco.com and buy $1500 worth of Costco gift cards, then spend them after. I do it with both DIscover cards when they have warehouse clubs as category and Costco.com seems to accept all cards.
I noted this above - the website takes all cards except Amex.
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anon_investor
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Re: Chase Freedom Card Upgrade

Post by anon_investor »

02nz wrote: Thu Nov 25, 2021 1:24 pm
anon_investor wrote: Thu Nov 25, 2021 12:57 pm
atdharris wrote: Thu Nov 25, 2021 12:53 pm I have both the Freedom and Freedom Unlimited. I wonder if they will convert those of us with both to have two CFUs.... if so, there is no reason not to cancel one and apply for the CFF.
It could hurt your credit score...
There's so much FUD about credit scores. Most people way overthink it. Applying for a credit card will tend to cause a tiny hit - < 10 points - to your credits core, and it's temporary. If your overall credit utilization goes down (because of the new card's credit limit), you might even see your credit score go up. And unless you're shopping for a loan AND on the edge, where a small drop could cause your rate to go up, it just doesn't matter. Most Bogleheads probably have scores in the high-700s or 800 and up, where applying for a credit card (or even several) won't have any impact on the interest rates you'll get.
Canceling could hurt your credit score.

Especially if the card has a long history and your other cards do not.
02nz
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Re: Chase Freedom Card Upgrade

Post by 02nz »

anon_investor wrote: Thu Nov 25, 2021 1:41 pm
02nz wrote: Thu Nov 25, 2021 1:24 pm
anon_investor wrote: Thu Nov 25, 2021 12:57 pm
atdharris wrote: Thu Nov 25, 2021 12:53 pm I have both the Freedom and Freedom Unlimited. I wonder if they will convert those of us with both to have two CFUs.... if so, there is no reason not to cancel one and apply for the CFF.
It could hurt your credit score...
There's so much FUD about credit scores. Most people way overthink it. Applying for a credit card will tend to cause a tiny hit - < 10 points - to your credits core, and it's temporary. If your overall credit utilization goes down (because of the new card's credit limit), you might even see your credit score go up. And unless you're shopping for a loan AND on the edge, where a small drop could cause your rate to go up, it just doesn't matter. Most Bogleheads probably have scores in the high-700s or 800 and up, where applying for a credit card (or even several) won't have any impact on the interest rates you'll get.
Canceling could hurt your credit score.

Especially if the card has a long history and your other cards do not.
The impact is minimal and a non-issue unless you're shopping for a mortgage AND your score is on the edge.
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anon_investor
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Re: Chase Freedom Card Upgrade

Post by anon_investor »

02nz wrote: Thu Nov 25, 2021 2:03 pm
anon_investor wrote: Thu Nov 25, 2021 1:41 pm
02nz wrote: Thu Nov 25, 2021 1:24 pm
anon_investor wrote: Thu Nov 25, 2021 12:57 pm
atdharris wrote: Thu Nov 25, 2021 12:53 pm I have both the Freedom and Freedom Unlimited. I wonder if they will convert those of us with both to have two CFUs.... if so, there is no reason not to cancel one and apply for the CFF.
It could hurt your credit score...
There's so much FUD about credit scores. Most people way overthink it. Applying for a credit card will tend to cause a tiny hit - < 10 points - to your credits core, and it's temporary. If your overall credit utilization goes down (because of the new card's credit limit), you might even see your credit score go up. And unless you're shopping for a loan AND on the edge, where a small drop could cause your rate to go up, it just doesn't matter. Most Bogleheads probably have scores in the high-700s or 800 and up, where applying for a credit card (or even several) won't have any impact on the interest rates you'll get.
Canceling could hurt your credit score.

Especially if the card has a long history and your other cards do not.
The impact is minimal and a non-issue unless you're shopping for a mortgage AND your score is on the edge.
I probably should close some cards next year. If Chase force converts my Freedom to Freedom Unlimited, I would close my current Freedom unlimited and shift the credit line, since I have only had it for a few years.
tibbitts
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Re: Chase Freedom Card Upgrade

Post by tibbitts »

02nz wrote: Thu Nov 25, 2021 1:38 pm
OpenMinded1 wrote: Thu Nov 25, 2021 1:33 pm
LittleMaggieMae wrote: Wed Nov 24, 2021 4:53 pm
I just logged onto my Chase account and see that I have a custom offer of the Freedom Unlimited with the normal $200 bonus after $500 spend, but would also get 12 months with 5% at grocery stores. I'm thinking about grabbing that as a new card while keeping the old Freedom for as long as they let me.
I accepted this offer when I logged into my Chase Account back in October. At this point, my Chase Freedom card is still working - I have both cards. I mostly took the Unlimited card offer because of the $200 bonus and the 5% at groceries. I had a couple of things to buy that would easily get me to the $500 requirement - without changing my CC routine (as long as I remembered to use the new Unlimited card to make the purchases. ) It worked out great - I've fulfilled the requirements as of last weekend.
If I recall correctly, I don't think you get the 5% at Walmart or Target because they aren't strictly grocery stores.
I believe that's correct, although certain Walmart Neighborhood stores apparently do get coded as grocery stores and therefore get the 5X.
I think I noticed that on a card receipt last month and wondered about it. But it seems to be card-dependent. Some other credit card statements show my Neighborhood Market as being the nearby Supercenter, but some don't. I should experiment with a small purchase.
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Re: Chase Freedom Card Upgrade

Post by MikeG62 »

I've had the Freedom card for a very long time. So far no notice from Chase. If they want to kill the card, so be it. I won't bother with the Freedom Unlimited. I'll jut let it go. Still have the discover card with rotating categories plus a number of other cards (including the BofA Premium Rewards card).
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sport
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Re: Chase Freedom Card Upgrade

Post by sport »

I decided that I prefer my old Freedom card with the rotating bonus categories. So, I called Chase customer service and requested a change back to my old card. They agreed to do so, much to my surprise.
atdharris
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Re: Chase Freedom Card Upgrade

Post by atdharris »

This doesn't make sense either way. Why not convert people to the new Freedom Flex if you want to phase out the old freedom? And why allow people to change back to the old Freedom if you are phasing it out?
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BrandonBogle
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Re: Chase Freedom Card Upgrade

Post by BrandonBogle »

atdharris wrote: Fri Nov 26, 2021 2:33 pm This doesn't make sense either way. Why not convert people to the new Freedom Flex if you want to phase out the old freedom? And why allow people to change back to the old Freedom if you are phasing it out?
Many people wouldn’t bother to call and get reverted back, so they would still migrate plenty of folks. I’m one of them. One of my three Freedom cards has been changed to Unlimited, but the other two haven’t. I was going to let it roll, but it sounds like Flex may be a better option and I can have them switch it to that.
need403bhelp
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Re: Chase Freedom Card Upgrade

Post by need403bhelp »

atdharris wrote: Fri Nov 26, 2021 2:33 pm This doesn't make sense either way. Why not convert people to the new Freedom Flex if you want to phase out the old freedom? And why allow people to change back to the old Freedom if you are phasing it out?
I believe you are only allowed to have one Freedom Flex but multiple Freedom Unlimited (and original Freedom) cards. So that could be one reason…
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anon_investor
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Re: Chase Freedom Card Upgrade

Post by anon_investor »

need403bhelp wrote: Fri Nov 26, 2021 6:55 pm
atdharris wrote: Fri Nov 26, 2021 2:33 pm This doesn't make sense either way. Why not convert people to the new Freedom Flex if you want to phase out the old freedom? And why allow people to change back to the old Freedom if you are phasing it out?
I believe you are only allowed to have one Freedom Flex but multiple Freedom Unlimited (and original Freedom) cards. So that could be one reason…
Can you downgrade a Chase Sapphire Preferred to an original Freedom?
need403bhelp
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Re: Chase Freedom Card Upgrade

Post by need403bhelp »

anon_investor wrote: Fri Nov 26, 2021 6:58 pm
need403bhelp wrote: Fri Nov 26, 2021 6:55 pm
atdharris wrote: Fri Nov 26, 2021 2:33 pm This doesn't make sense either way. Why not convert people to the new Freedom Flex if you want to phase out the old freedom? And why allow people to change back to the old Freedom if you are phasing it out?
I believe you are only allowed to have one Freedom Flex but multiple Freedom Unlimited (and original Freedom) cards. So that could be one reason…
Can you downgrade a Chase Sapphire Preferred to an original Freedom?
I did some months ago. They have another name for the original freedom something like chase freedom ultimate rewards
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anon_investor
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Re: Chase Freedom Card Upgrade

Post by anon_investor »

need403bhelp wrote: Fri Nov 26, 2021 10:36 pm
anon_investor wrote: Fri Nov 26, 2021 6:58 pm
need403bhelp wrote: Fri Nov 26, 2021 6:55 pm
atdharris wrote: Fri Nov 26, 2021 2:33 pm This doesn't make sense either way. Why not convert people to the new Freedom Flex if you want to phase out the old freedom? And why allow people to change back to the old Freedom if you are phasing it out?
I believe you are only allowed to have one Freedom Flex but multiple Freedom Unlimited (and original Freedom) cards. So that could be one reason…
Can you downgrade a Chase Sapphire Preferred to an original Freedom?
I did some months ago. They have another name for the original freedom something like chase freedom ultimate rewards
Does it look like the original Freedom?
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Michael Patrick
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Re: Chase Freedom Card Upgrade

Post by Michael Patrick »

Interesting. I have a Chase Freedom card that I only use for the 5% categories. So far I haven't gotten a notice that they want to switch me. I don't think I want the Unlimited, hopefully they don't make me choose.
need403bhelp
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Re: Chase Freedom Card Upgrade

Post by need403bhelp »

anon_investor wrote: Fri Nov 26, 2021 10:42 pm
need403bhelp wrote: Fri Nov 26, 2021 10:36 pm
anon_investor wrote: Fri Nov 26, 2021 6:58 pm
need403bhelp wrote: Fri Nov 26, 2021 6:55 pm
atdharris wrote: Fri Nov 26, 2021 2:33 pm This doesn't make sense either way. Why not convert people to the new Freedom Flex if you want to phase out the old freedom? And why allow people to change back to the old Freedom if you are phasing it out?
I believe you are only allowed to have one Freedom Flex but multiple Freedom Unlimited (and original Freedom) cards. So that could be one reason…
Can you downgrade a Chase Sapphire Preferred to an original Freedom?
I did some months ago. They have another name for the original freedom something like chase freedom ultimate rewards
Does it look like the original Freedom?
Yes it is same card. They just modified official name to avoid confusion with the other ones I guess
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