Saturday, May 30, 2009

Chase Freedom Cuts Rewards

A few weeks ago I received a letter in the mail from Chase. The envelope was titled "Good Things are Coming from Chase Freedom" and subtitled "ENCLOSED: News about improvements to your account." Much to my surprise the letter told me that my rewards were going to be cut by June 30th.

Highlights of these improvements (used lightly):
  • The triple cash back rewards you earn on Everyday spending categories will no longer be available. Sounds like Discover Card to me.
  • The $50 bonus when redeeming $200 in Cash Back Rewards will no longer be available after June 30th. This was the best part of the Chase card!
They also told me that they have a new online store. I checked out the store to see if they had additional merchants or better discounts and the store is exactly the same.

I think it is despicable that Chase is masking a downgrade for current chase freedom users as an improvement. The masking by Chase has caused a ton of outrage and hopefully Chase will learn to be more honest with their own customers.

The Chase card has essentially turned into a Discover card since which is a big disappointment. I'm sure that Chase will see less transactions in upcoming months from Chase Freedom users as the card is now less lucrative. It is now time to move on and find another card that offers better rewards for responsible spenders.

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