Tag Archives: Freedom

chase

Chase Credit Cards: Change of Rules A.K.A. 5/24

Chase is unveiling a new policy in regards to gaming the credit card system. If you’ve opened more than five new credit card accounts in the past 24 months (hence 5/24), you won’t be approved for any new cards from Chase. Currently this rule only applies to Chase Ultimate Reward earning personal cards (e.g Chase Freedom & Chase Sapphire Preferred. We have made mention in previous posts that Chase will soon be extending their 5/24 rule to co-branded  credit cards (e.g. United, BA, ect) sometime in April.

 Chase Bank Credit Cards

Most people that read this blog apply for a lot more than five cards every two years, so this might be your last chance to grab some Chase cards. I thought it would be a good idea to have a look at the Chase application rules & best practices, the current best offers for each Chase credit card and the best current offers overall. If there will be a work around that someone will figure out – that can be possible. However there are no workarounds reported as of yet. This is almost as bad as Amex rule allowing credit cards to be opened only once per cardmember.

Chase Application Rules To The Best Of Our Research

Chase will usually approve a maximum of two new credit cards per month. (Some people got three, but this requires a reconsideration call ). An application January 31 and February 1 is not considered 2 months. You will need to wait the full 30 days.

If you’re not instantly approved for a card, WAIT. If you call reconsideration it’s more then likely that you’ll be denied, based on the 5/24 rule. Although it officially hasn’t gone into effect yet the reps are already implementing it. Our advise, and the advise of many other bloggers is to wait it out.

There is a 24 months period from the time you received the sign up bonus to get it again. This is the 24 from the 5/24 rule.

For most people the best option will be to apply for two credit cards in the same day to get the hard pulls combined (keep in mind that you can either do two business or two personal not a mix of the two). If you are not a churner do what you want. However a word of caution, the Tortoise won the race because he was slow and steady – enough said.

Tortoise wins  the race !

Best Offers For Each Card:

Visit our Credit card page to see all offers, some of them are not the best offer. I have compiled a list of the best offers taken from DoC.

Chase Southwest Premier: 50,000 points after $2,000 in spend. The $99 annual fee is not waived

Chase Southwest Plus: 50,000 points after $2,000 in spend. The $69 annual fee is not waived.

Chase United MileagePlus Explorer: 30,000 miles after $1,000 in spend and an additional 5,000 for adding an authorized user and making a purchase. (The AU does not need to make the purchase to get the bonus miles.)Try to get 55,000 miles + $50 statement credit by making a dummy booking, or you can try this method.

Chase British Airways: 50,000 Avios after $2,000 in spend, an extra 25,000 after $10,000 in spend or an extra 50,000 after $20,000 in spend (first year). The $95 annual fee  is not waived.

Keep in mind, the following cards already have the 5/24 rules in effect:

Chase Sapphire Preferred: 50,000 Chase Ultimate Reward points after $4,000 in spend. $50/5,000 Chase Ultimate Reward points after adding an authorized user.

Chase Freedom: $150/15,000 Chase Ultimate Reward points after $500 in spend. $25/2,500 Chase Ultimate Reward points after adding an authorized user.

Chase Slate: 0% Introductory APR for 15 months on purchases & balance transfers and 0% balance transfer fee for the first 60 days.

Hotel Cards

Chase Hyatt: 2 free nights at any Hyatt property worldwide after $1,000 in spend and 5,000 Hyatt points for adding an authorized user and them making their first purchase. Sometimes it is possible to get the same offer with a $50 statement credit when making a dummy booking on the Hyatt website.

Hyatt Regency Danang Resort & Spa, Da Nang, Vietnam

 

Chase IHG: 80,000 points after $1,000 in spend or 60k link

Chase Marriott Premier: 80,000 points after $3,000 in spend and 7,500 points for adding an authorized user and them making their first purchase. The $75 annual fee is not waived on this card.

Ritz Carlton: 2 free nights at any participating Tier 1-4 Ritz-Carlton hotel after $4,000 in spend.The $395 annual fee is not waived for the first year, but comes with a bunch of other benefits like $300 annual airline credit.

Chase Fairmont: 2 free nights after $3,000 in spend. The annual fee is waived first year

Business Cards

Chase Ink Plus: 60,000 Chase Ultimate Rewards points after $5,000 in spend. Annual fee of $99 is not waived. (You may be able to get the same offer with the annual fee waived in a branch YMMV.)

Chase Southwest Business Premier: 50,000 points after $2,000 in spend. Annual fee of $99 is not waived first year.

Chase United MileagePlus Explorer Business: 50,000 points after $2,000 in spend.

Chase Marriott Business Premier: 80,000 points after $3,000 in spend. Annual fee of $99 is not waived the first year.

Okinawa Marriott Resort & Spa| Kyushu-Okinawa Japan

HT: DoCReddit and PWAC

Follow us on Twitter to be entered into our $50 Giveaway!

In Summary:

Chase is changing their structure on how they accept new credit card applicants. You will only be allowed to apply for five credit card every two years 5/24.

rss feed email twitter facebook Sharethis
Freedom

Activate Chase Freedom Cards For The First Quarter of 2015: Restaurants, H & M Bed Bath and Beyond & Overstocks.com

It’s time again to activate your Freedom CardsWe already discussed the benefits of the card in February. One of the downsides we pointed out was the need to activate it every 3 months. All Credit Card Joint follows get an email reminder every quarter to activate by clicking here. You can also enroll in Chase email or text message reminders over here.

 

This month’s categories are 5% in Restaurants, H & M, Bed Bath and Beyond and on Overstocks.com. As we said back in February this is one of the main values of this card.

Activate your Chase Freedom Credit Card for 5% back on your Restaurants purchases. You can Also get 5% cash back in select stores including BB & B, H & M and Overstocks.com.

The 5 point categories for 2014 was as follows:

Q1: Gas stations, Movie theaters, Starbucks

Q2: Restaurants and Lowe’s

Q3: Gas stations and Kohl’s

Q4: Amazon.com, Zappos.com, and Department stores

If you don’t have the Freedom Card yet you can get one by applying here:

 Another card that has the 5% categories that need activation is the Discover it® card.

Discover it®

Read more about the Discover it® card here.

Other topics that may interest you:

Chase Freedom Card $200 AKA 20,000 Increased Signup Bonus

Chase Freedom Is Better Then The Chase Sapphire

2,500 Bonus UR Points Chase Freedom and Sapphire Credit Cards: Adding An Authorized User

Chase Freedom Credit Card: Why We Love It

And don’t forget to follow us on Twitter to be entered into our $50 Giveaway!

In Summary

Activate your Chase Freedom 5% cash back categories now to save on Restaurants, H & M Bed Bath and Beyond and on Overstocks.com in the Second quarter of 2015.

rss feed email twitter facebook Sharethis
chase-freedom-credit-card

Activate Chase Freedom Cards For The Third Quarter: Gas Stations And Kohls

It’s time again to activate your Freedom CardsWe already discussed the benefits of the card in February. One of the downsides we pointed out was the need to activate it every 3 months. All Credit Card Joint follows get an email reminder every quarter to activate by clicking here. You can also enroll in Chase email or text message reminders over here.

This month’s categories are 5% in Gas Stations and Kohls. As we said back in February this is one of the main values of this card.

Activate your Chase Freedom Credit Card for 5% back on Gas and Kohls purchases.

The 5 point categories for 2014 are as follows:
Q1: Gas stations, Movie theaters, Starbucks

Q2: Restaurants and Lowe’s

Q3: Gas stations and Kohl’s

Q4: Amazon.com, Zappos.com, and Department stores

If you don’t have the Freedom Card yet you can get one by applying here:  

Another card that has the 5% categories that need activation is the Discover it® card.

Discover it®

Read more about the Discover it® card here.

Other topics that may interest you:

Chase Freedom Card $200 AKA 20,000 Increased Signup Bonus

Chase Freedom Is Better Then The Chase Sapphire

2,500 Bonus UR Points Chase Freedom and Sapphire Credit Cards: Adding An Authorized User

Chase Freedom Credit Card: Why We Love It

rss feed email twitter facebook Sharethis
freedomsapphire

Chase Freedom Is Better Then The Chase Sapphire

What the Chase Freedom is Better then the Chase Sapphire? Yes, at least in this authors opinion. Let us analyze the benefits of each one and see which card has a better value. Before you start, familiarize yourself with the UR (Ultimate Rewards) Program by reading this. (Note, the new benefit of Singapore Air as a transfer partner was not added yet).

Advertising Disclosure: The links in this post may contain affiliate links.

The Pro’s of the Chase Freedom Credit Card

Read our full review of the Chase Freedom card here.

  • No annual fee
  • 5% Bonus Categories
  • 10% bonus

The Pro’s of the Chase Sapphire Preferred Credit Card

  • 2X Categories
  • 7% Bonus
  • Transfer to partners
  • Fat signup bonus
  • No Forex fee

Transfers

The perk that the Chase Sapphire card has that it enables transfers to partner airlines is the biggest benefit that the Chase Sapphire card offers. Now, this benefit is also found on the Chase Ink cards. (Catch the last few hours of the 60k bonus now!) If you were to have an Ink card, this benefit is worthless.

Bonus Categories

The Chase Freedom has 5% categories that are really good. Unlike the Discover it® card that sometimes has horrible categories. Read more about the Discover it® here. The Sapphire only has 2X bonus categories, and they are nothing special. The American Express Business Gold rewards gives 3X on airfare and 2X on gas as well. There are dining cards that put the 2X UR to shame.  I think the Freedom categories are better.

Extra Bonus

The Chase Freedom gives a 10% bonus points vs the Chase Sapphire that only gives 7%. Additionally the Chase Freedom gives the bonus points every statement, unlike the Sapphire that you need to wait the entire year. This benefit definitely goes to the Freedom.

Annual Fee

The Chase Freedom has no annual fee. The Chase Sapphire does. Hmmm, I like the Freedom better.

Forex Fee

Okay, the Sapphire wins this one.

But wait, don’t go signing up for the Chase Freedom card just yet. If you are a beginner, and you won’t be approved for the Chase Sapphire card then I would let you sign up for the Freedom. However, if you are not in the middle of building your credit and you want to signup for one of these cards, sign up for the Chase Sapphire.

What? I thought you just said the Freedom is better?!

Yes, you are very perceptive, I did say the Freedom is better,  but hear me out. The Chase Sapphire has an option to downgrade to a Chase Freedom card. So why lose out on the lucrative signup bonus of 40,000 UR points (plus 5k for an AU).

What you should do

Signup for the Chase Sapphire (using our links will not get us a commission). Meet the spending threshold. Then down grade the card to the Chase Freedom. This way you get the best of both worlds. The big sign up bonus, and the best perks.

But then I lose my flexibility to transfer?

Yes, but it is not so bad.

1) if you have an Ink card you don’t lose your transfer options, as the Ink card can make transfers too.

2) If you have a friend or spouse that has an Ink card or Sapphire Preferred card, you can transfer your points to them, and they can transfer it to the airline of your choice.

The no fee Chase Freedom card has better benefits then the Chase Sapphire Preferred! Signing up for the Sapphire and then downgrading the card to a Freedom is getting the best of both worlds.

Read this from Credit Donkey for a detailed review

In Summary:

The Chase Freedom seems better then the Chase Sapphire, it is best to signup for the Sapphire and then downgrade to the Freedom card.

rss feed email twitter facebook Sharethis
Credit score

Credit Score: How To Improve A Low Credit Score

Credit Scores play a key role in the credit card industry. Once someone has good credit, they are able to apply for cards how they please. The hard part is getting to that stage. Today we will discuss how to improve a low credit score.

You may hear people say they have no credit score. This is impossible. They mean to say they have no credit history, and a low credit score. Everyone had a number. Read more about your FICO credit score here.

When does one have a low credit score

There are two types of people with low credit scores.

  • People with no credit history
  • People with poor credit history

People with no credit history

In order to apply for credit cards, people with low credit history need‎ to build credit. Banks do not trust people with no credit history, because there is a risk factor involved. Since the bank doesn’t know you, and no other banks have a relationship with you, and there is too much risk in granting you a line of credit.

But, there is an easy and painless process to fix this.
  • Be added as an AU (authorized user) on a friend’s, spouses, parents credit card account. Stay there for a few months. The banks look at this as a line of credit under your name. Therefore it builds your line of credit. Read the risks of an authorized user here. As always, be smart. We recommend when adding someone as an authorized user not to give them the card. Destroy it. It will still build credit. There is no need to actually spend on the card. This may save unforeseen discomfort in the long run (use your imagination).
  • Apply wisely. Many people hear about a great offer and jump on it. The problem is you need to know your limits. There are beginner cards for a reason. These cards carry higher APR, since there is more risk. These cards usually never have a free APR intro period. Apply for cards that need fair credit. 

Read why we recommend the Discover it® Credit Card here . Another smart choice would be the Chase Freedom Card ®

Chase Freedom® Link

Read more about the Freedom® Card here here.

The same would be true when applying for a store credit card. These cards are rated for people with fair credit. The sign up bonuses on the above cards are nil, but it is a necessary evil. This will put you in the game to get the big bonus like the Chase Ink Bold, or American Express Platinum.

  • Secure Credit Cards. These cards are designed for people with‎ low scores. These cards require a deposit. They allow you to have a line of credit against the amount you set aside in escrow. You are responsible to pay the bill in full at the end of the month. The banks don’t look at a credit score, since there is no risk involved. If you default on the payments, they keep the escrow. 

People with poor credit history

If you have a poor credit history you need help, fast. Having a poor credit will deter you in the short term and kill you in the long term. In the short term you will not be able to get new credit cards. In the long term you will not be able to get a mortgage, lease, student loans etc. The number 1 thing on your to do list should be to fix your credit score.

Read tomorrow how to fix poor credit 

In Summary:

It is important to have a good credit score. someone with no credit history needs to build a score. This can be accomplished by being an AU, starter card or a secure card.

rss feed email twitter facebook Sharethis
credit-card-hand

2,500 Bonus UR Points Chase Freedom and Sapphire Credit Cards: Adding An Authorized User

Chase unveils an additional bonuses for the Sapphire and Freedom credit card signups. You can now get an extra 2,500 Ultimate Rewards points for adding an authorized user when you sign-up for the Chase Freedom and Chase Sapphire credit cards.  The authorized user has to make a purchase within 3 months for the bonus 2,500 points. We find this similar to the Chase Sapphire Preferred card that offer 5,000 bonus points for an authorized user.

The links that we provide we receive a referral bonus from. However they do not have this benefit of the 2,500 for adding an AU. You can still use our links and SM Chase to match the offer. If you want to use a direct link you can use this link to guarantee the extra bonus.

This new offer is only valid on new credit card signups. However we would recommend all people who signed up for one of these cards in the last 90 days to  try to SM (secure message) Chase to see if they can match them to this offer.

The reason why we don’t write about the Chase Sapphire card is simple. If you are applying for the Sapphire card, you will be better off applying for the Chase Sapphire Preferred. The Sapphire Preferred gives 40,000 (plus 5,000 for an AU). Although it has an annual fee, you can downgrade after the first year to a sapphire (non preferred).

Read why you should get a Chase Freedom card here

Learn more about the responsibilities of a joint user on this post.

Stay educated. Follow us with your email or twitter account. More options are coming soon!

In Summary:

Get a bonus 2,500 points on the Chase Freedom and Chase Sapphire by adding an authorized user.

rss feed email twitter facebook Sharethis