Forced Chase Freedom® Product Change
A report by a member of our Facebook group started a stir this week. The poster reports that they received an email from Chase indicating that their current Chase Freedom® card will be automatically “upgraded” to the Chase Freedom Unlimited® card. Other group members quickly chimed in that they received the same email. If you got this email, should you resist the forced Chase Freedom product change? Let's discuss.
What is the Chase Freedom® Card?
The Chase Freedom® card is the original card that earns Ultimate Rewards with no annual fee. While primarily marketed as a cash back cards, any card in the Chase Freedom family earns Ultimate Rewards. Those Ultimate Rewards can transfer to partners if you hold a Sapphire Preferred, Sapphire Reserve, Ink Preferred, or Sapphire Reserve for Business card.
The Chase Freedom® card, or as we often refer to it as the “OG Freedom”, is a Visa card. It is no longer open to new applications. Despite this, or because of this, it is still our primary recommendation for Sapphire downgrades. It earns 5x/5% in quarterly bonus categories, up to $1,500 spent in the quarter. This makes it one of the strongest earning cards in the Chase Ultimate Rewards card portfolio.
Because this card is not open to new applications, users can still receive a sign-up bonus on a Freedom Unlimited® or a Freedom Flex® card.
What is the Chase Freedom Unlimited® Card?
In contrast to the OG Freedom, the Freedom Unlimited® card earns 1.5x/1.5% on all purchases. It also earns 3x/3% on dining and drug store purchases. Its only 5x/5% category is Chase TravelSM, which we generally caution our readers to avoid.
The Freedom Unlimited is also still open for new applications, leaving room for earning a sign-up bonus. An applicant can earn a sign-up bonus for this card if they do not currently hold this card and have not received a sign-up bonus this card in the prior 24 months.
The Upgrade Email
An email from Chase proudly announces “Congrats, you're about to be upgraded to a Freedom Unlimited Card.” So far, it does not seem that all users are receiving this Chase Freedom product change email. In fact, most of the members of the Travel on Point(s) team have an OG Freedom card. But none of us have received this email.
The email goes on to say that the upgrade will happen “automatically.” I find it curious that Chase calls this an “upgrade” when both cards have no annual fee.
What Should I Do?
If you received this email, consider whether you want to accept the automatic change. If you do not, reach out to Chase and ask to keep your card as-is.
For most people, keeping the Freedom® will be an easy choice. It has the potential to earn 30,000 Ultimate Rewards each year in the 5x quarterly bonus categories. Maximizing this full potential only requires $6,000 of spend. By contrast, the Freedom Unlimited would require $20,000 of spend in the 1.5x/1.5% catch-all category. Or $10,000 of spend in the 3x/3% categories of dining and drug stores.
Anyone under 5/24 who does not currently hold a Freedom Unlimited card will want to keep the OG Freedom as well because it leaves the option open for a Freedom Unlimited sign-up bonus in the future.
Forced Chase Freedom® Product Change: ToP Thoughts
We have seen attempts to force Chase Freedom® product changes in the past. It is stressful to think that the bank would change your card product type without your request. Fortunately, it seems that this is just an attempt to shift users within the portfolio and not a mandatory or permanent change. And for most people, it's best to keep your card just the way it is.
Did you receive this email recently? Will you resist the Chase Freedom product change? Come share your thoughts and data points in the ToP Facebook group.
