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Chase Freedom Card - pros/cons?
Posted on 11/19/12 at 8:47 pm
Posted on 11/19/12 at 8:47 pm
So I'm finally going to get a credit card.
I have a company AMEX, but this would be my first personal one. It looks to be a pretty solid card with 1% cash back, 5% on certain things at certain times, and 0% APR for 15 months.
A little background....
I'm anal as hell about my finances, so I will be paying it monthly without carrying a balence (with one exception I will get to). I am getting married soon, and we are paying for the wedding, so I am planning on using the card to pay for the expenses then just pay the balence each month from the checking account.
Then after the wedding I will put my fiancé's credit card debt of 4k onto the freedom card and have it paid off before the 0% APR promotion runs out after 15 months.
After that's paid off, I'll just charge everything to the card for the rewards and pay it off each month so I don't have to worry about interest.
Seem like a good plan unless I'm missing something?
I have a company AMEX, but this would be my first personal one. It looks to be a pretty solid card with 1% cash back, 5% on certain things at certain times, and 0% APR for 15 months.
A little background....
I'm anal as hell about my finances, so I will be paying it monthly without carrying a balence (with one exception I will get to). I am getting married soon, and we are paying for the wedding, so I am planning on using the card to pay for the expenses then just pay the balence each month from the checking account.
Then after the wedding I will put my fiancé's credit card debt of 4k onto the freedom card and have it paid off before the 0% APR promotion runs out after 15 months.
After that's paid off, I'll just charge everything to the card for the rewards and pay it off each month so I don't have to worry about interest.
Seem like a good plan unless I'm missing something?
This post was edited on 11/19/12 at 8:49 pm
7
Posted on 11/19/12 at 9:50 pm to tylercsbn9
This is what we all do. The rewards are worth it. I prefer the chase sapphire preferred though.
Posted on 11/19/12 at 10:25 pm to tylercsbn9
Can you pay off a credit card with another credit card? I didn't think you could. I'd ask someone at Chase about your plan to see if indeed you are missing something. I do think that despite the 0% APR it is never a good idea to carry a balance on your credit card.
Posted on 11/19/12 at 10:37 pm to tylercsbn9
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 
Posted on 11/19/12 at 10:46 pm to tylercsbn9
I have 4 rewards credit cards that I use for certain categories but the Amex blue cash preferred is the best all around IMO
You may not qualify though if you don't have much credit card history
You may not qualify though if you don't have much credit card history
Posted on 11/19/12 at 10:58 pm to tylercsbn9
I like the Chase Freedom. The 5% categories are usually pretty legit. Gas is 5% back every other quarter, and groceries show up fairly frequently. And you can't beat 0% interest.
Posted on 11/20/12 at 1:48 am to tylercsbn9
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. 
Posted on 11/21/12 at 11:50 am to tylercsbn9
thinking of doing the same
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