I just received in the mail my new Chase Freedom credit card which is replacing my Chase Reward card. Their marketing team is very creative!
The new card advertises “rewards without limits” – except that the triple points are limited, very limited (only available on the first $600 of purchases).
The new card advertises “ultimate rewards” – they reduced my 5x points on gas and groceries to only 3x.
The new card is Chase Freedom – except my old card was free, the new card you have to pay $30 a year.
Chase has pretty much insulted my intelligence and told me they don’t want me as a customer. So I will oblige them. As long as I am able, I will refuse to pay an annual fee on any credit card. So I will call sometime this week to confirm receipt of the cards and cancel them immediately. That will leave me with my Wells Fargo Credit Card (that pays off my mortgage) and my American Express (that I use mostly at Costco).
I may just stick with those two cards for awhile, we will see. I am not worried about the small ding cancelling a credit card will make on my credit score. I am not in the market for a car loan or mortgage right now (already refinanced this year), so a little lower credit score won’t hurt me – it will pop back up quickly. I may ask for an increase in spending limit though for the Wells Fargo – that would help offset a little the decrease in credit score by cancelling the Chase.
