Posted by William Charles on July 27, 2017
Credit Cards

Published on July 27th, 2017 | by William Charles

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Grandfathered Chase Freedom Cards Will No Longer Earn 10% Extra Points/10 Bonus Points Per Transaction On August 28th

Back in 2010 (or maybe even earlier) Chase Freedom cards earned an extra 10% points per $1 spent and 10 bonus points on every transaction when you also held a Chase deposit account. Some cardholders were grandfathered into this program and receive this bonus to this day (note: most cardholders lost this benefit in 2015). On August 28th Chase will no longer offer this, sending the following letter to cardholders:

Cardholders will still earn 5% cash back/Chase UR on rotating categories every quarter like the current Chase Freedom. Chase has been doing a lot of this stream lining of old products in an attempt to simplify their card line up (most likely also a cost saving measure as well). For example:

 



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Max
Max

Disappointing. It has been a good ride putting every tiny transaction on my freedom. I didn’t switch to my freedom unlimited until $25 of non-bonused spend.

James
James

How on earth have these folks resisted to urge to abuse for so long to have avoided being shutdown? Anyway I hope they enjoyed it while it lasted..

86
86

A 10% bonus on 1% spending and a dime back for each swipe isn’t very lucrative, which was why it was probably offered in the first place as a way to cheaply keep you at Chase for banking. Even the FU will give you a better return on rewards (even considering that grandfathered bonus and making multiple swipes), especially for purchases larger than $50 or $100. Obviously Chase didn’t mind people taking advantage of the feature or they wouldn’t have offered it. Amex’s Everyday cards have a similar feature. They’re deliberately encouraging you to swipe the card more each month for a 25% or 50% bonus (albeit capped at 20 or 30 swipes/mo). They increase what they make on interchange fees if you swipe it more than you might have otherwise as well as keep you in the habit of using their card. It seems unlikely that they’d be concerned if you swipe the card 2 or 3 times in a row at the self-checkout lane to meet the monthly quota. It’s the merchant that loses.

CtownBin
CtownBin

Haha, trust me- many folks did NOT resist that urge that all. People were doing small swipes, low-value Amazon reloads, etc all over the place. Almost everyone who hit it hard got shutdown within a 3-ish months or so, but they argued the return was worth it vs. going slow and trying to avoid shutdown. Who knows, in this case they may have been right. The hardest hitters took home well over 6 figures of points. Good times. I always regretted not hitting harder, since I got AA’ed by Chase within the year anyways (most likely for buying the fee-free gift cards directly from them, if you remember those).

Eric
Eric

You seem to have a lot of DP on stuff like this. What forums/blogs do you get your info from?

chaseaholic
chaseaholic

Fingers crossed for no changes to I+

In a similar vein, some people claim to still have an uncapped OBC

Billy
Billy

Wow, I didn’t even know about this and I have had a Freedom since 2009 and a Chase checking account since 2013! So many missed points…

CtownBin
CtownBin

No, you didn’t really miss any points. They announced that the end of the 10+10 would be mid-November 2012. So, you had to have both the Freedom and checking account by then, which you didn’t. After that, they changed it to the version you probably had (and may still have even after this change) where you only got the 10% bonus, which effectively made it 1.1% everywhere or 5.5% on the categories, not really that great.

Stammers95
Stammers95

Wow, Ive been a original freedom member ever since 2008 and I never knew about this. I just recently opened a Chase checking account and wonder if I qualify for the 10 points or if both products would have to been open prior to 2010. Anyone know?

CtownBin
CtownBin

Both products would have had to be opened prior to November 2012, when they ended this for new signups.

MP
MP

Cheap and disappointing move. I don’t have Chase Freedom, but if B of A were to do the same, it’d irritate me.

tinytavosa
tinytavosa

Dang, my bro has a freedom from 2007, never knew about this.

chris
chris

not sure but i know they ended this for me long long ago which is why i dropped t he freedom card long ago

calwatch
calwatch

Most people lost it in 2015. I was a Chase customer for years and they took it away from me. It may have only been a few states which kept the Freedom bonus.

CtownBin
CtownBin

It’s really very strange, they seem to have kicked people out of this in batches, nobody really knows why or how they picked who gets to keep going. The first reports of a nice chunk of people being removed came towards the end of 2013, about one year after they ended new signups for the program. Then again in 2015, at which point I thought they basically got everyone.. but it turns out there are still some left to get nerfed next month. The truth is, we don’t really know for sure that this is the end for everyone- all we know is that some cardholders got letters.

Alex
Alex

Got you all beat with my 2006 Freedom (also had a 2005 Cash Rewards Plus that Chase converted to a Freedom.. anyone remember that card?..5% back gas, grocery, drug all year long, capped though if I recall correctly).. I vaguely remember this promotion but haven’t had a Chase checking for several years. Finally did the $300 in branch bonus today. Guess I can’t reactive this for another month huh?

Tj
Tj

I havent received this letter. When was it sent?

sara
sara

Wow wow wow. All these years I wasn’t even aware that I need to feel jealous…..
Jokes aside, I can’t believe that people were still getting this. I lost it in 2013.

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