"Great Rewards Program"

Chase Freedom® Visa - $50 Bonus Cash Back Review
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Written by: ashes on 2009-05-31

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ashes's review: Callout Comment I use credit cards mainly for their rewards program as my credit history is decent enough. I have been with Chase for over 4 years. Started out with an Amazon.com Visa card issued by Chase and had a Priority Club Visa card issued as well 4 years ago. 2 years ago, I combined the two cards, asked for a CLI and then I had my rewards converted to Chase Freedom. You get 3 points up to $600 in the 3 of the top 15 categories which I usually end up getting plus 1 point for every other purchase. My monthly credit card bill (I use this card for all the bills and groceries and everything) runs about $1200-$1500 a month and I get about 1.6-1.8 points per dollar spent over the entire bill which is more than any other card including Bank of America American Express which gives you 1.25 points per dollar flat.

My current credit limit is $15.5k with a 13.24% APR. I pay in full every month and their rewards program to me is the best value I have seen. Discover is a close second but not everyone takes Discover. I would recommend this card to everyone. I don't carry balances on any cards so APR does not matter that much. I find their rewards program to offer the best points per $ value even though it is slightly complicated. You get 1% cash back on the points starting from 5000 points.

This card is definitely a keeper in my opinion!

Just note that Chase doesn't give you automatic CLIs too often (unless your usage is heavy and limits low) and if you ask for a CLI, it is always a hard pull. But when you do ask for it, they give you good CLIs. They got me from $8.5k to $15.5k two years ago but it was a hard pull. Today it sits at $15.5k and that is plenty.


Comment 1 by rabbit713
Lucky! User Icon on 2009-06-01

Remarks Well Chase seem to treat you quite well, me on the other hand MasterCard holder from them since 2004 only a $1200 credit limit, they only gave 1 automatic CLI of $500, my starting limit was $200 since 2004.

well anyways glad you are satisfied with them.
Comment 2 by ashes
Its The Sign Of Times User Icon on 2009-06-02

Remarks In this climate, I would imagine CLIs are few and far between. I got to $15.5k two years ago when credit was flowing ridiculously easy! I have not received any CLIs except Discover in the last year and I don't expect that I will. Credit is tight these days and Chase is doing ok. Not as terrible as Bank of America or Citibank but its no bed of roses either for them.

Even when we come out of this crisis, I don't think we are ever going to see a credit boom as we saw earlier in the decade. Just wait for this crisis to be over and I am sure they will increase your credit limit. Just don't expect that CLIs will be ridiculously high. I think the days of such rampant CLIs are over.
Comment 3 by wanderer
Chase Freedom Rewards User Icon on 2009-06-05

Remarks Good update. I am the holder of a converted WAMU account. Chase has me at 10.24% APR purchases and 19.24% cash with no AF and a CL of $13,500. There rewards program is great! Also have a Chase Freedom Rewards Business Visa and that program is top shelf with the same APR's and no AF with a CL of $10,000. With an old BK 09/2001 they have been good to me. Note I cleaned up my record with no blotches since.
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