Chase Freedom Card - pros/cons? | Page 2 | TigerDroppings.com

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TJG210
LSU Fan
New Orleans
Member since Aug 2006
22395 posts
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re: Chase Freedom Card - pros/cons?


Love it, have one personal and one joint with the wife that we put all household expenses on. Just got a fat $850 check last month from them.





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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30530 posts

re: Chase Freedom Card - pros/cons?


quote:

I wouldn't "transfer" the debt to the card. Just put every expense you make over the months on the chase card and pay off her debt directly. This will save you the balance transfer fee and you will earn the rewards on it


This is the correct answer.






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polizei11
LSU Fan
Lafayette
Member since May 2009
988 posts

re: Chase Freedom Card - pros/cons?


Chase Sapphire Preferred here. Ballin arse metal card. A free 40k points for spending $3000 in 3 months is awesome.

If you go with a reward points card (I did because I use the points for travel), Chase lets you trade 1:1 their points with other vendors. It's a great way to get more than 1.0 return on your points.

Another benefit of Chase that I never heard about until I got the card was the Ultimate Rewards Mall. Pretty much a list of vendors that you get extra points from if you buy stuff from them online. Lowe's is 5 extra pts/$. Just bought a $250 miter saw from them online with in-store pickup. Easy 1500 points right there. Some stores have 8+ extra points/$. Clinque comes to mind since my girlfriend bought some makeup from them with her Chase card.



This post was edited on 11/20 at 6:56 am


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BACONisMEATcandy
LSU Fan
Delta, Amex, & Über Threads
Member since Dec 2007
41967 posts

re: Chase Freedom Card - pros/cons?


I don't know how you read

quote:

5% Cash Back on up to $1,500 spent


as

quote:

I read it as you can get up to 1500 back per QTR.








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LSUtigerME
LSU Fan
Walker, LA
Member since Oct 2012
817 posts

re: Chase Freedom Card - pros/cons?


Freedom is capped at 5% bonus on $1500 spent, but you still get the 1% on every dollar spent.

I thought the Sapphire Cards have an annual fee?

The freedom is nice, has good rewards, and the "rewards mall" offers some bonus points as well as discounts on gift cards to certain merchants (like Amazon). I use my freedom card for everything I can.






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LSU6262
LSU Fan
Member since Jun 2008
2317 posts

re: Chase Freedom Card - pros/cons?


it's 1500 spent. So, it's up to $75 for the 5% per quarter. after that its 1%. you would earn $190 on the 13K

you also get $100 cash back if you spend 500 in the first 3 months.

it's a great card. I use it for everything






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RetiredG8tr
Florida Fan
Pensacola Fl 32503
Member since Nov 2012
44 posts

re: Chase Freedom Card - pros/cons?


An interesting discussion about credit cards. I didn't realize they were so important to you younger people.

I do know carrying more than 7% credit card debt to available credit will lower your credit score.

I would advise a brokerage debit card. Otherwise, pay cash. Do Not start a new life off in debt.....






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tylercsbn9
LSU Fan
Tomball, TX
Member since Feb 2004
55524 posts

re: Chase Freedom Card - pros/cons?


quote:

I would advise a brokerage debit card. Otherwise, pay cash. Do Not start a new life off in debt.....


Not at all. I'm 29 and this is my first personal credit card.

Just want to get one for the rewards and use the 0% incentive to help pay off my fiancé's two credit cards after we get married in June. Once the 0% APR is done I plan on never carrying over a balance month to month.

We'd have them paid off with ease, but were saving for the wedding. Most of her debt came from a time when she had to help take care of her mother when she was out of work, so I can't really blame her entirely for the $4k she'll have in CC debt once we are married.,



This post was edited on 11/20 at 8:41 pm


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BACONisMEATcandy
LSU Fan
Delta, Amex, & Über Threads
Member since Dec 2007
41967 posts

re: Chase Freedom Card - pros/cons?


I know you are looking for 0% interest but you might look for something that will reward you for spending more money since you are going to spend so much

1% ain't a lot in the grand scheme of things

maybe get a airline card and get the honeymoon flight for free

Or the chase sapphire has a pretty good signup bonus and rate of return

Here is a good place to start

LINK

ETA: You may consider "churning" some cards



This post was edited on 11/20 at 9:14 pm


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saderade
New Orleans Saints Fan
America's City
Member since Jul 2005
21302 posts

re: Chase Freedom Card - pros/cons?


quote:

An interesting discussion about credit cards. I didn't realize they were so important to you younger people.

I do know carrying more than 7% credit card debt to available credit will lower your credit score.

I would advise a brokerage debit card. Otherwise, pay cash. Do Not start a new life off in debt.....


Young people posting on a money board are obviously very involved in their financial situation so I doubt anyone carries over debt each month. Before I read this board regularly I put everything on my debit card. Since April, I already have about $600 cash back on my Amex Blue Preferred.






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RetiredG8tr
Florida Fan
Pensacola Fl 32503
Member since Nov 2012
44 posts

re: Chase Freedom Card - pros/cons?


Why do I hear about student loans? Why do I hear about debt forgiveness? There were programs back in the 60s-80s. They paid for college, you worked for them 5-10 years.

Why borrow? Unless you don't intend to pay it back? Don't insurance companies sell credit life? Go figure....






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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30530 posts

re: Chase Freedom Card - pros/cons?


quote:

Why borrow?


Because the interest rate is literally 0% and you get a 1-2% discount, that's why.






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RetiredG8tr
Florida Fan
Pensacola Fl 32503
Member since Nov 2012
44 posts

re: Chase Freedom Card - pros/cons?


Are you saying 0% interest on loans the fed will not back up in default? GinnieMae is soon to go, just like the FHA billions the taxpayers owe.

Remember, the GM trick. Hell is going to be paid. I doubt the 40+% of non-tax-payers can afford the tickets.....






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lsu480
LSU Fan
Downtown Scottsdale
Member since Oct 2007
73913 posts

re: Chase Freedom Card - pros/cons?


Are you really so damn old that you cant understand how people can use credit cards to their advantage???





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BACONisMEATcandy
LSU Fan
Delta, Amex, & Über Threads
Member since Dec 2007
41967 posts

re: Chase Freedom Card - pros/cons?


I am at a loss for words with you





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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30530 posts

re: Chase Freedom Card - pros/cons?


No disrespect intended to you retiredg8tr, but I'm going to guess by your username that you aren't familiar with trends in the past 2-3 years in credit card land.

First off, many (if not most) cards offer rewards if you use it for your purchases. Some offer cash back, usually 1-2% for every single purchase. Others offer airline miles. Whatever it is, it is effectively a discount.

Second, of course you can pay the bill every month and not pay interest at all, which surely you are familiar with. But these days (again, if you have good credit) many cards offer teaser rates of 0% APR for a year or more. That's right, they are effectively paying you to use their card. You do have to pay monthly minimums but that's it.

Of course, the honeymoon does eventually end and you have to pay it off in full, it's just that you have a year or more to do it.

Real-life example: I got a credit card that offered 0% APR for 18 months, and 5% cash back on home improvment purchases. Instead of financing my new kitchen/bath project in a HELOC I put it on this card. After 18 months paid off the card. This saved me about two grand vs. paying cash.

So long as you make sure you can pay the bill at the end it is a no-brainer to do this.






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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30530 posts

re: Chase Freedom Card - pros/cons?


In case you are wondering how the card issuers make money when you pay no interest for a year, they charge merchants a fee for every transaction. So long as you use it a lot they still make money. Also, the card issuers in turn are themselves borrowing at historically low costs, practically zero once you take inflation into account.





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S
Mercer Fan
Gold, FranQuincense and Myrrh
Member since Jan 2007
60550 posts

re: Chase Freedom Card - pros/cons?


thinking of doing the same





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