[DEAD]Chase Freedom 300$ back after spending 500$

[deadken]

...
Also, deadken, you may want to think about keeping it as they have 5% bonus on rotating quarters....

Thanks for the suggestion, but if you knew me then you'd know that I don't like credit cards. Twice I've tried to go an entire year without using a credit card at all. Both times I ended up using one once. It's true, I absolutely could have gotten away without using one either time, but I made the choice to use a credit card for a reason (each time it just worked out significantly cheaper). Think about that, I used a C/C (2) times over the course of two years. Again, in this case, I could get a better video card for a significant savings if I use a C/C. I'm still not sure I will, but I am considering it.

Suffice to say, even if I keep it for a year, I'd have to make a conscious effort to actually use it. And, that is EXACTLY how I want it to be. Not reflex, but a conscious effort. FWIW, I've always maintained a very good credit score. The last time I looked into a refinance, I was told that my credit score was from 780-820 on the 3 different agencies. Not perfect, but please don't assume I stopped using C/C's because of a problem.

 

[OnePingOnly]

Why would anyone give a crap about the APR on a credit card?

Who cares? As long as it doesn't charge interest if I pay in full before the due date, I don't care it's 18% or 18000%. I never paid a cent interest to those credit card companies.

You're both right because you're both likely educated consumers that pay your balances off ASAP. I'm sure Chase is looking to reel in a few that'll keep a large revolving balances on this card. You have to admit, 18% on a non-store credit card is fuck all.

 

[rageofthepeon]

With math skills like that, I'm not sure you should get ANY credit card.

Hmmm. I didn't know you had insight to my finances but I'll elaborate for you.

Chase Freedom: $300
Chase Freedom Amazon cash back @ 5% for $560: $28
Bank of America Credit Card cash back: $135
*Never payed attention to my credit card and noticing I was racking up cash so it was a pleasant surprise.

$300 + $28 + $135 = $463

$560 - $463 = $97

WOW, I guess my original statement still stands doesn't it? Learn to read between the lines before you go and make assumptions. It makes something out of me and you, but mostly you.

 

[AznAnarchy99]

I got mine for the $300 cash back and I rarely use it anymore over my Costco American Express. They gave me a 22% interest rate compared to my 12% that I have on my Citi/Amex..

 

[Pardus]

got approved for mine, told them only want $1000 limit instead of $5000. will be cancelling soon as i get the cash back.

 

[salvorhardin]

so... What can a person do with points? Can you pay your statement with them? B/c I'd rather be reimbursed $300 from a 500 statement, since I have no idea what to do with cc points.

As stated previously you can have a check mailed to you, deposited into your checking account or transferred to gift cards. Right now you can transfer the $300 cashback into a $330 amazon gift card (10% bonus).

 

[Jdmathew]

pay it off every month and it doesn't matter

Yea that's what I said. Now I have it maxed out every month. Credit is a corporate offer of enslavement. As one author puts it, "Credit is for poor people". Isn't it ironic that a card that makes you financially enslaved is called "Freedom". LOL Freedom my ***

 

[Pardus]

Here is what you can do to maximize the points.

1. Buy $500.00 amazon gift card, sell it for $495.00 {you know where}
2. Get 30,000 points
3. Get three $100.00 Amazon gift cards for 9,000 points each, used to be 10,000 and sell each for $98.00
4. Get three $10.00 dunkin donuts gift cards for 3000 points.
5. Cancel card as the APR is 17.99%

 

[slightlyhuman]

i currently have 3 CCs. amazon chase(0 balance), best buy(0 balance) and a capital one(with few grand balance @ 13%. just curious if signing up for this card(just for the $300) would hurt me any? i wouldn't use it other than the $500 that is required.

i'm in need of a cab for my guitar so it makes sense. just don't want my credit going down.

 

[CPA]

My new account is showing up under my Chase accounts and I received my PIN numbers in the mail yesterday, but still don't have the card yet. lol.

No literature on the $300 cashback promotion. Once I get the card, I'll be calling to confirm. Why do I have a funny feeling I didn't qualify for the promotion...

 

[esquared]

My new account is showing up under my Chase accounts and I received my PIN numbers in the mail yesterday, but still don't have the card yet. lol.

No literature on the $300 cashback promotion. Once I get the card, I'll be calling to confirm. Why do I have a funny feeling I didn't qualify for the promotion...

Does it say, in your Chase account that the card is a Freedom Chase card?

When you get mailed the package, it won't show that specific promotion. Mine didn't but just in case I had the mailing I was sent about the promo. Mine wasn't an online deal.

Go back and make a pdf of the promo from the link if you want to be on the safe side.

https://applynowdc2.chase.com/FlexAppWeb/renderApp.do?SPID=DN52&CELL=6H8X

 

[esquared]

i currently have 3 CCs. amazon chase(0 balance), best buy(0 balance) and a capital one(with few grand balance @ 13%. just curious if signing up for this card(just for the $300) would hurt me any? i wouldn't use it other than the $500 that is required.

i'm in need of a cab for my guitar so it makes sense. just don't want my credit going down.

You won't get hurt any. Your FICO may take a small hit for the credit check and possibly stay down 10-15 points for a couple months. Unless you are applying for a mortgage or a car loan in the near future and want your FICO as high as possible, then I wouldn't worry about it.

 

[slightlyhuman]

You won't get hurt any. Your FICO may take a small hit for the credit check and possibly stay down 10-15 points for a couple months. Unless you are applying for a mortgage or a car loan in the near future and want your FICO as high as possible, then I wouldn't worry about it.

end of the year i'm looking at purchasing a new home(new to me).

 

[esquared]

end of the year i'm looking at purchasing a new home(new to me).

It's a tossup. It probably depends on what your FICO is now. No need to list it.

If your FICO is 780-800, then the effect is minimal. If it's in the low 700's then it possibly could be more of an issue if you are trying (obviously) to get your best mortgage rate.

 

[Chiropteran]

i currently have 3 CCs. amazon chase(0 balance), best buy(0 balance) and a capital one(with few grand balance @ 13%. just curious if signing up for this card(just for the $300) would hurt me any? i wouldn't use it other than the $500 that is required.

i'm in need of a cab for my guitar so it makes sense. just don't want my credit going down.

It might hurt your credit some, but carrying a balance on the capital one card is hurting your credit as well. Probably be a net gain if you used the $300 promo to pay down your existing balance.

 

[CPA]

Does it say, in your Chase account that the card is a Freedom Chase card?

When you get mailed the package, it won't show that specific promotion. Mine didn't but just in case I had the mailing I was sent about the promo. Mine wasn't an online deal.

Go back and make a pdf of the promo from the link if you want to be on the safe side.

https://applynowdc2.chase.com/FlexAppWeb/renderApp.do?SPID=DN52&CELL=6H8X

Yep, it says Freedom Chase.

Making a pdf of the promo is a great idea.

 

[JBT]

Got my card today.

 

[Ksyder]

in 4 one, thanks guys

 

[deadken]

Thanks again OP. Getting $300 is a hot deal. I'm still on the fence as to whether or not I want to do it, but I appreciate the information none the less. Might I ask what is the amount of time a person should keep a Credit Card before closing it? I recognize that I could do it almost right away (best to wait until $300 check is in hand), but as far as lessening the impact that it has on your credit score, what is recommended?

WOW, I guess my original statement still stands doesn't it? Learn to read between the lines before you go and make assumptions. It makes something out of me and you, but mostly you.

I think you are confusing 'making assumptions' on my part with 'poor communication' on your part.

It really doesn't bother me, but no, your original statement is just as flaky as before. Until you edit it, it will continue to be. Now, don't get me wrong, you've clarified things a great amount. But, that doesn't excuse your previous vagueness. I don't think that you have to edit it, but please don't be so thin skinned when someone jokes around about it. You left it wide open for that (perhaps you forgot that you were on the 'Internet'?).

For what it is worth, telling someone to 'read between the lines' and suggesting that they don't 'make assumptions' in the same sentence is just about as clear as your previously written post. When one reads between the lines, they literally are making assumptions as to what is left out of a statement.

 

[WhipperSnapper]

I already have a Chase Freedom card and I received a free $250 or so years ago when I opened the account. If my wife opened one in her name but it had the exact same billing address as mine, would they still give us the $300?

 

[nusyo]

opening and closing credit cards will affect your credit, especially if you're planing to apply for loans in the near future.
applying for a cc will also hit your credit with hard inquires which can also affect your loan application

(all this applies for near future loan applications)

oh, and keep in mind if you do carry balance, they can(will) always raise your APR for no reason..... but i think 90% of you already knew this

 

[slightlyhuman]

Whipper, I don't see why not.

 

[zanemoseley]

My wife and I got our cards yesterday. You have to call to activate it, they confirmed I'll receive 30,000 points once I spend $500. So we'll receive $600 total, pretty sweet.

I was planning on canceling after that but after thinking about it I'm going to keep it since it's a VISA. Many small businesses don't accept AMEX so I end up having to use my debit card. Now I'll receive cash back no matter where I go. Now if I could just put my mortgage on a cash back card too.

 

[mkashew]

I also just got the card, and called to activate. At the same time, I asked about this promo and the girl confirmed I will get $300 back if I spend $500 in the first 3 months (or was it, 90 days, one of those)

 

[rageofthepeon]

I also just got the card, and called to activate. At the same time, I asked about this promo and the girl confirmed I will get $300 back if I spend $500 in the first 3 months (or was it, 90 days, one of those)

"You will receive 10,000 bonus points with this bonus offer, which can be redeemed for a $100 check. To qualify and receive your bonus, you must make qualifying transactions totaling $500 or more during the first 3 months from account opening. Qualifying transactions include purchases, balance transfers, and any checks that are used to access your account, and exclude cash advances. After qualifying, please allow 6 to 8 weeks for bonus points to post to your account. To be eligible for this bonus offer, account must be open and not in default at the time of fulfillment. This one-time bonus offer is valid only for first-time cardmembers with new accounts. Previous and existing cardmembers/accounts are not eligible for this bonus offer."

Doesn't seem like it'll help pay the initial balance you rack up on the card for the promotion but it'll be a nice reward in a couple of months.