The UNTOLD Truth About Chase Credit Cards (REVEALED)
HTML-код
- Опубликовано: 3 июл 2024
- 💳 My Top Credit Cards: spencerjohnsonofficial.com/to...
💳 What's In My Wallet: spencerjohnsonofficial.com/myw...
Click ‘show more’ to see ad disclosure
-
Hey guys, in this video, I talk about 8 of the biggest problems with Chase’s credit cards and why I think that despite these issues, you should still heavily consider them. Chase’s credit cards are some of the most popular credit cards on the entire credit card market, and that’s for good reason, but I rarely ever see people talk about their negatives. I am a self-proclaimed Chase fanboy, but I’ll be the first to admit that they have some serious downsides to them that need to be taken into account. At the end of the day though, Chase’s credit cards are my favorite credit cards in existence and I truly believe that anyone can get value from them. If you’re someone who’s been wondering “What are the problems with Chase’s credit cards?” or “Are Chase credit cards worth it?” this video is for you!
💲 Download MaxRewards: maxrewards.app.link/spencer (Code: SPENCER)
💻 The Credit Community: spencerjohnsonofficial.com/di...
-
Card Links:
💳 Chase Ink Cash: spencerjohnsonofficial.com/in...
💳 Chase Ink Unlimited: spencerjohnsonofficial.com/in...
💳 Chase Freedom Cards: spencerjohnsonofficial.com/fr...
💳 Chase Sapphire Preferred: spencerjohnsonofficial.com/sa...
💳 Chase Sapphire Reserve: spencerjohnsonofficial.com/sa...
Talk To Me Personally:
☎️ Book a Call: spencerjohnsonofficial.com/co...
Products I Use:
💰 Rakuten ($30-40 free): www.rakuten.com/r/SPENCE11500
💲 MaxRewards Gold (1-month discount w/ code SPENCER): maxrewards.app.link/spencer
🛍 Kudos ($20 back after eligible purchase w/ code SPENCER): joinkudos.com/spencer
💸 Ekster Wallets (5% off w/ code SPENCERJOHNSON): partner.ekster.com/spencer
Join My Communities:
🎩 The Credit Club: spencerjohnsonofficial.com/cr...
💻 The Credit Community: spencerjohnsonofficial.com/dis...
Watch Next:
🎥 Chase Freedom Flex vs. Chase Freedom Unlimited: Which is Right for YOU? • Chase Freedom Flex vs....
🎥 5 Reasons You NEED the Chase Freedom Unlimited: • 5 Reasons You NEED the...
🎥 Amex Amazon Business Prime: Do THIS To Get Approved: • Amex Amazon Business P...
🎥 How To AVOID Amex Pop-Up Jail (My Experience): • How To AVOID Amex Pop-...
🎥 The Chase 5/24 Rule: What You NEED to Know: • The Chase 5/24 Rule: W...
CONNECT with me:
👉 Join our membership: spencerjohnsonofficial.com/cr...
📷 Instagram: / spencerjohnsonofficial
🎞 TikTok: / spencerjohnsonofficial
📱 Pushie: spencerjohnsonofficial.com/pu...
✅ My Website: zaap.bio/spencerjohnson
📚 Chapters:
00:00 The Problem With Chase Credit Cards
00:31 Problem #1: Lacking Coverage In Large Spending Categories
02:13 Problem #2: Overlapping Categories Across Cards
04:30 How To Fix Chase's Overlapping Categories
05:42 Problem #3: Poor Customer Service
06:56 Problem #4: Subpar Rotating Quarterly Categories
09:07 How I Automatically Activate Rotating Quarterly Categories
11:02 Problem #5: Hard Pull For Everything
12:07 Problem #6: No Preapproval Tool
12:59 Problem #7: Poorly Manufactured Cards
14:18 Problem #8: Chase 5/24 Rule
15:10 The Power Of Chase's Ecosystem
16:22 The Power Of Chase's Travel Partners
16:53 The Power Of The Chase Trifecta
17:49 The Power Of The Chase Ink Cards
-
Advertiser Disclosure: Some of the card links and other products that appear on this website are from companies which Daily Drop will earn an affiliate commission or referral bonus. Daily Drop is part of an affiliate sales network and receives compensation for sending traffic to partner sites. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies, or all available credit card offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
#chase #creditcards #bestcreditcards
![Sean Rii, Karyon, Sharzkii - Taungule [My Love] (Official Visualizer)](http://i.ytimg.com/vi/eJoMuypbSzQ/mqdefault.jpg)
💲 Download MaxRewards: maxrewards.app.link/spencer (Code: SPENCER)
If you want to know my honest opinions on the Chase Sapphire Preferred after holding it for one year, watch this video next: ruclips.net/video/5WIWilFvnCs/видео.html
What are your opinions on Chase’s credit cards? 👇🏼
Great video Spencer! Yeah, I completely agree that the Chase 5/24 is the worst of all rules, and I'm also in the camp that's very conservative with the number of hard pulls on my credit report, and try to keep it at a reasonable level. Never thought in a million years, you'd be this critical of Chase, but here we are! It's good to look at both sides so kudos to you for going into detail about the issues with their cards and what can be improved!
Thanks so much Stan! I definitely wanna give a balanced view of all cards and not just be oblivious to the bad parts of em. Thanks for watching as always!
So correct about the costumer service. I recently called and they had no clue about the most basic questions. Thanks for the video.
Excellent video Spencer. You make a lot of great points. EVERY ecosystem has their flaws. Chase can definitely step up their game. On a side note, when calling the Sapphire line to book with my newly acquired CSP to book my trip to Iceland happening in September, the rep was superb and bent over backwards to take care of my needs. Definitely a fan of the Sapphire service.
That's awesome to hear you've had good experience with their customer service man! It's definitely a YMMV topic, and personally, I've always had a good experience myself. Thank you for watching man!!
True. Everyones mileage varies for sure.
Keep putting out the excellent content brother!!
I'm glad you mentioned the fact that they still have those raised numbers on their no annual fee cards. That's one of the things that annoys me about my CFU and debit card. Nobody runs those old knuckle buster machines to imprint on paper anymore haha. It also creates a weak point where the card can crack if you carry a lot of credit cards where it has a half-sleeve. Great video and I agree with most all of it (and still love my Chase cards too ha)
I'm glad you enjoyed it! I'd ask for a new debit card though since they just changed the design of that very recently. I hope they change the rest of their cards to match though!
The 5/24 Rule is one of the most frustrating things for me and has prevented me from getting Chase Cards for a while now.. The overlapping categories can be kinda annoying as well like you mentioned, instead they should definitely cover more categories since they are definitely lacking some coverage. Like you though, I'm a Chase fanboy & the flexibility with their redemptions, fantastic travel partners & the power of the Trifecta still makes Chase one of the best issuers out there. Great video Spencer!
Yeah man I get that for sure! I think we’re in the same boat on our opinions with Chase for the most part. Thanks for the insightful comment as always man.
@@MrBankRelationsI got an amazon prime card to get my foot in the Chase door. I also want those cards to have access to their Ultimate Rewards system.
This great content period, business decisions 👍 thank you
Agree 100% on the overlapping categories. Love your recommendations.
I'm glad you enjoyed this one!
Great info Spencer 😊
Nice flowing monologue with helpful visual aids.
You and Mark Plymale are doing well with your delivery 😊😊
Thanks so much man!
@@SpencerJohnsonOfficial You're welcome!
Great video Spencer, very informative and I’m glad you shared both positive and negative sides of the card! I’m also happy that you used some of our opinions from the community.🙏
Thank you Ahmad! I definitely want to present a balanced review of all the cards I talk about. And for sure dude! I plan on continuing to put those comments in the videos where they make sense for sure.
Worth the watch, you're pretty spot on about Chase. The 3% dining right now is keeping Chase in my lineup, but when Discover goes 5% this card drops like a rock. Did just use the travel portal for the first time, and all things told...not bad.
Thank you for watching!
I'm a fan of the Chase Ink Trifecta. Thanks for the info + video!
Same here! It's arguably the more powerful part of Chase's ecosystem these days.
Great video. Ill see what ideas I can predict you drop for next week
Thanks David! We'll see if you can guess it! 😉
Interesting video, did not expect it to be on chase 🙏
Thank you! It seemed like not many did haha so I’m glad people were surprised!
Thanks for keeping it real man
You know it!
Didn’t know about the Every 2 year flex/unlimited sign up bonuses. Thanks!
No problem at all!
Great video
Thanks so much!
Great video to review problems as Chase needs a reality check from time to time
Thanks man!!
Great review! I've always found #7 from Chase very weird with the raised lettering/numbering on their Freedom cards. The raised lettering/numbering did have a purpose back in the day to allow the merchants to get a carbon copy imprint from your credit card using a manual credit card imprinter machine. Since Chase is the largest bank in the U.S., I just find it mind-boggling that they still have the antiquated raised lettering/numbering on some of their cards.
Thanks so much! I agree with you though... they should really get on changing that. But that's cool to know why they used to be raised! Thanks for teaching me that!
- I remember having to do that customer credit cards when i worked sales at the mall back in the 1990s!!!! 😆
Spencer, I totally agree with you on your views of Chase! I love the Chase ecosystem and the Freedom cards are two of my favorite cards in my wallet. It will be exciting to eventually get the CSP, after I fall back under 5/24. I think there is too much overlap in categories between both Freedom cards and the CSP. I like your ideas on how they could revamp their reward categories to include groceries and gas and sacrifice the drug stores category on one of the cards. Raising the base rate on the CFU even slightly would give that card an advantage over the new CFR. Sometimes, their rotating categories on the OG Freedom and CFF are subpar and it is a little annoying when they overlap 5% categories with Discover. The hard pull thing can also be somewhat annoying. I know for all three of my Chase cards, they pulled both Experian and TransUnion when I applied for those cards. The embossed numbers make the cards seem a little behind the times. I only have one other card in my wallet with embossed numbers and that is the Hilton Honors card. Of course, the 5/24 rule is the most annoying issue with Chase. They should adopt a similar approach to Bank of America with their 3/12 rule and 7/12 rule for non-existing and existing deposit account customers, respectively. This was a great video and you should do similar videos with some of the other credit card issuers.
I'm really happy to hear that man! I always really appreciate your thoughtful comments. It sounds like we're in agreement here with Chase's cards which is nice to see. I'm strongly considering doing these with all lenders soon, so thanks for the recommendation!!
Totally agree with you!!
Great video! I’m new to the credit card game and always find these videos very useful. Have you done a video on comparing Chase cards vs. Cap1s Duo, as I know you have the VX card as well :). Thanks for all that you do for the community
Thanks so much! I hope you continue to find value from my videos as you learn more and more. I haven't directly compared the two systems, but I've made a decent amount of videos on the Venture X and Chase cards separately. Not really the Savor One though! However, Daniel Braun made a great video about the Cap1 duo so I'd check that out too. Thank you for the support Torrence!
@@SpencerJohnsonOfficial yep I have watched it already (actually follow both of you guys and loved the interview you had with him earlier). I normally see a lot of Chase vs. Amex comparison vids, which is why I asked about C1.
I currently have the Savor1 and Venture1 and plan on applying for the X later in the year (still under the 6 month apply period). I also have the CSP and CFF as well. Was thinking of applying for the CFU, only if Chase has another yearly gas promotion soon, but one can only hope lol. I naturally use C1s duo categories more, but you gotta love Chase’s Hyatt partner. However, I do want to learn more about C1s Vacasa program, which is supposed to be like Air Bnb that you can transfer through Wyndham rewards points. Sorry for the long message, I got excited lol
Great video and it touches on a lot I don’t like with chase. And lmao I hate the embossed info too but the amex everyday and Hilton honors card are embossed too. The BCE is not!
Ah yeah I always forget about the Everyday card... The Hilton cards could definitely use a refresh though on their embossed numbers. Thanks for watching Anand!
I think the CFU should only have 5X on portal travel and a 2X base, get rid of everything else. Keep the CFF the same and make the 3X grocery on the CSP for ALL groceries
I'd be happy with those changes! I think they need a gas category too though.
The categories do overlap but you get 1.5 back on the freedom unlimited plus ultimate rewards points so it actually gets 2.5 back on everything which is pretty good especially with the 25 percent boost paired with sapphire preferred.
Such great points Spencer👍🏾 Depending on One's lifestyle and spend, Chase ecosystem could be #1. On the otherhand, the issues you astutely pointed out make them #2 for a lot of us.
Thanks so much! And I agree with you. It definitely depends on the person.
Great video, Spencer. Very detailed. I'm glad you brought up the embossing issue. It bothers me to no end as, those types of cards can really leave an impression on your wallet that just doesn't look good. I'm not aware that Amex got rid of this on their no A/F cards such as the Everyday and Blue Cash. Is this a recent change of theirs?
Thank you so much! I know that Amex's new design of the BCE has no raised numbers (same for their BBP and BBC cards), but I think the normal Everyday card may still have raised numbers sadly.
@@SpencerJohnsonOfficial understood, and thanks again.
Chase credit cards remind me of a devoted sports fan that’s frustrated with their team (for me the Chicago Bears)!! I love them but dang they can be frustrating
Hahah great analogy!!
Awesome video as always Spencer. Very educative!! - I recently decided to stay within the Chase ecosystem, later I will consider other lenders. Now I'm thinking about getting a co-branded hotel card. But since I can transfer points using my CSP to Hyatt don't know if I want to request the co-branded card or try the Marriot or IHG one. As always advice from the guru of Credit Cards would be awesome.
Thank you Jorge!! I think the Hyatt card is a no-brainer if you're a fan of them since you'll already be staying at their properties every year. I'll gladly pay $95 for a $400-$500 night every year!! However, you could always try out another co-branded card too if you wanted.
Hey Spencer, I got approved for the Chase Hyatt card. Thanks for your advice.
Seee. This is the Chase video I wish I made. I’d trade all the two year SUBs in the world to get a CFU with higher base multiplier (we’re asking for not much for 2, I’d love to see more). Great video Spencer.
Haha right?! Idk why it's so hard for them to update that... thank you for watching as always man!
@@SpencerJohnsonOfficial I guess we’ll have to see if they make any changes to it. But it would be Chase to just keep it the same until someone comes along and forces a change (though someone would have to come up with a 3% catch all to do it…)
Yeah PCd my Sapphire Preferred down to a CFU and now to a Freedom Ultimate (OG Visa Version) after the SUB and 1st year. Will wait to reapply when im eligible for a sapphire bonus
Nice man! That's the way to do it!
I didn't dislike Chase cards but I had the Freedom Flex card for about 2 years until they closed my account b/c I never used it after the initial account bonus. I had already had a discover card which is essentially the same card with rotating categories which sometimes both cards had the same category at the same time.
The Reserve not really being a great value unless you do a lot of domestic travel is a miss as well. Chase really should revamp the Sapphire cards to distinguish them a little more and make the Reserve feel more like a premium card.
Give it Status at Marriott/IHG/Hyatt
I'd like to see a revamp of their cards for sure.
I have the Target and Amazon credit cards for the 5% back. I like my Discover it card for its 5% back categories.
Nice! It sounds like you're on team cash back then!
The lack of gas and groceries multipliers is why I switched to the Citi Trifrecta from the Chase Trifiecta.
For earning categories alone, Citi's cards are really powerful.
Nailed it. Especially 8. And copying what Citi does with the premier is great idea. I’ve been getting targeted by city in the mail for the premier but I am gardening until September so I can get chase cards. Otherwise I would take full advantage of the 75k offer
I'm happy to hear you think so Ed!! I'd definitely be tempted to pick up the Citi Premier myself, but I'm waiting for the Strata cards to come out personally. Thanks for watching man!
@@SpencerJohnsonOfficial always my friend. Love your content. I have only the Citi Costco card, so I am also curious on the strata cards. Is there any data points out for when Citi will drop the strata cards?
My future setup for my personal spend will be the CapitalOne Duo. And Chase Ink Cards and the Biz Plat for my work spending.
The Chase personal cards are not very compelling to me. I grabbed the CSP for the 80k bonus (I will not renew) and I’ll keep my WoH for the free annual night and Hyatt spending.
I like that setup a lot… I could see it being one I’d run myself!! I hope they continue to make the personal Chase cards better. I’d love to one day just stick to one or two ecosystems but they make it a bit hard to accumulate points aside from welcome bonuses with their lack of earning categories.
I got approved for a 2nd Chase personal card and I’m at 7/24 with 2 chase business cards on top. Received all 4 chase cards in a span of 3 months
I've barely used the Freedom n Q2 and 3, since I use the prime card for Amazon. Q3 I may use for gas once or twice but I usually fill up at Costco and use my Citi and my other car is electric... I did however use the Chase Prime card a ton with the bonus double cash back through the end of July and Prime day.
Thanks for sharing your experience! I definitely got good use from that Amazon rotating category myself.
Hey Spencer, you said that you could get the welcome bonus on the freedom cards every two years, so does that mean you have to reapply for those cards to get it? Or how do you do that?
Hey Spencer, great video. How does one go about getting the sign up bonus every 2 years on the Chase Freedom cards? I've had the unlimited for a while now and never knew about the opportunity to get the benefit again
You mentioned that Chase does pre-approval within their app, but it's not a real preapproval. I got a notification from them saying I was pre-approved for the Sapphire preferred, which surprised me because I'm over 5/24, but I applied anyways since I thought I was pre-approved. Only to get hit with a hard pull on my credit report and a denial due to too many credit accounts opened recently. Ok cool guys, you didn't think of at least warning me that your guaranteed approval isn't a real guarantee? Chase really needs to get it together lol.
That's really good to know! I'm surprised they would preapprove you and still deny you. I've heard of other lenders doing the same and that's definitely annoying.
Great Video, what’s your favorite trifecta nowadays?
Thank you so much! I’m still very confident in recommending the Chase trifecta just because of how great it’s been to me. Mainly because of how awesome their travel partners are. The Citi trifecta is great from an earning category perspective but they have issues of their own. The Amex trifecta is overkill for a lot of folks, so I have a harder time recommending that one. So I guess it’s still Chase technically! But everyone of them have their own benefits to them depending on the person.
Contemplating getting the freedom flex card for gas since it seems to be a common occurrence but the other categories just don’t do it for me. Like you mentioned kind of silly they offer 5% back on Amazon when there’s the Amazon prime card which gives 5% back everyday on purchases made on Amazon. Kind of prefer the citi custom cash set up where you can pick per month which category to use it on
I hope they bring the SUB back where they give you 5x back for the whole year. That's definitely a good time to apply for it.
2x back on the unlimited, 3x on the flex for groceries, and 3x on the preferred for gas would be huge and I'd probably just stay with them. Honestly the flex feels so useless and very situational at times. I agree with everything you stated. Recently got the capital one savor one for groceries.But honestly looking at the Citi Premiere card it covers all categories despite having only 1x on everything else. Though I have no experience if Citi rewards are any good.
Kinda wish I went after the Citi trifecta as I rarely travel maybe once every 2 years. Now that I look back at it.
I wish they'd do that! I'm not holding my breath though haha.
The Citi trifecta has the best earning categories IMO. I should make a video on them.
@MrApelehama I've heard Citi credit card CS is terrible sure Chase maybe be the best but their credit card CS is definitely one of the better and they offer better ways to use the rewards. However yes I think chase needs to revamp their lower cards.
@@Fornwith if CIti added American Airlines as a partner I'd jump on the Citi trifecta so quick
There's a similar problem between the Ink Preferred and Sapphire Preferred. For the same annual fee the Ink Preferred gets 3x on travel vs 2x with the Sapphire, but the Ink Preferred's CDW is primary only for business trips while the Sapphire's CDW is always primary. You can of course put personal auto rentals on the Ink for the better multiplier and risk getting denied if you make a CDW claim. If you don't want the Sapphire Reserve neither of these cards quite works as a one-stop alternative.
Excellent points! The overlapping doesn't make much sense. Although, if they "fix" that problem wouldn't it make the Chase Trifecta too good, and would maybe make the whole UR system unsustainable? Chase's ecosystem and cards offers a lot of value for being low cost for users. Even the Amex gold, a $250 AF card, has a limit on their grocery category, and I've always thought it was to make the system sustainable.
Overlap creates problems for Amex, because it means people open fewer cards and pay less in ridiculous annual fees. For example, the Gold's travel category is limited, but if that's all you want you have no reason to get the Green, with its much broader travel category.
I just knew it would be a Chase video lol. I’m surprised they’re leaving that much room on the table, as far as popular categories go, for Amex + other lenders to take advantage of!
Personally, I use both Chase and Amex, so I find value in both as I can diversify my spending.
It would be amazing if Chase had some updates and/or a personal card that covered those categories indefinitely.
One small correction bro, my $0 annual fee Amex EveryDay has raised numbers 😢. I just got approved + received it this month. I’m brand new to Amex and can confirm the numbers are raised.
Enjoy the mountains! Hi Odin!
I use both Chase and Amex as my two main lenders as well. Might as well get value from all the banks that I can! And yeah I always forget about the Everyday cards. And the Hilton cards have raised numbers too but that's a cobranded card so I left them out. Thank you for watching though man!! Odin says hi once again haha.
Hey Spencer, you mentioned in this video that Chase should renovate their credit card rewards, specifically the Freedom Unlimited card. You said that Chase should increase the FU’s flat 1.5% cash back on every purchase to 1.625% or even 2%. How likely is Chase to actually raise the base earning rate on FU, especially with the launch of Freedom Rise card?
Great video! I tried the online Pre-approval tool and it never works. It says it’s unavailable. I have also seen where they are willing to give you a credit card, but their credit limit is set across all cards. I had to re-allocate some credit from one card to another to make it feasible to get the UR offers. I have pushed this out to many people who have been in similar situations. Thanks Spencer!
Thank you Joe! You’re exactly right about them limiting total overall credit compared to the number of cards they’ll give you. I’m glad you’re sharing that helpful advice!
@@SpencerJohnsonOfficial Thank You Spencer for your reply! Greatly appreciated!
I think because they have Hyatt and the best travel partners for domestic travel they don't feel like they have to give the best category bonuses. The credit card geeks (like me!) Will get their cards because of SUBs and versatility and just enough high value transfer partners, and they will get everyday people because they have transfer partners they recognize like United, Hyatt, SW, Jet Blue etc. Many of those (besides Hyatt) aren't really high value redemptions but have mass appeal.
This is exactly how I feel about their cards too. Every card is worth it at least for the SUB. I really love Hyatt too!!
I think the Freedom unlimited offers 3% on drugstores, I use that card for that. Chase prime for 5% on Amazon. Sapphire for travel and dining and I use the AMX cash preferred for 6% groceries and 3% gas (that card does have a $100 annual fee) but I’ve found it’s well worth it. Would be nice to transfer the Amazon and AMX points to Sapphire but it’s nice to have some cash back that accumulates. I don’t really like rotating category cards….it’s a pain to keep track and I’d imagine it would influence my spending to some degree?
It sounds like you're building a pretty solid cash back setup! Thanks for sharing that!
I agree the CSP but the compared to custom card it’s always 5% on groceries which is very good, would be nice if CSP always on groceries it’s something that we could use everyday day, would be nice if the CFU got bumped to 2% now it’s overlapping with CFR
Agreed!!
Agree! I feel like Chase is just making their cardholders ditch most Chase cards after churning them, and only use one or two Chase cards regularly lol
- Say I have Unlimited, Flex, and Sapphire Preferred right now, then I will almost never use Unlimited, because the rotating category + dining, drug stores, travel, streaming services are pretty sufficient (especially when combining with other banks' cards).
- And later, if I get the Citi Custom Cash for grocery + Chase Ink Cash for internet, office supply, and gas station, then my Unlimited will be completely ditched, even Flex wouldn't get used very often. (Also looking to get the Chase Prime card, so Flex would be worth even less)
- Plus, Sapphire Reserve is not good enough of an upgrade to worth the annual fee inflation! (It doesn't even include the streaming services that Preferred has!)
I just applied for the freedom unlimited through nerd wallet which I’m supposed to be getting an extra 1.5% on all categories for a year, will have to wait and see if it’s true!
That's great! I have a link for that offer too and it should work as stated.
My only complaint about the Target and grocery categories in the first quarter is that I would have preferred to have Target as a category in a separate quarter to stretch out getting 5% back on groceries. My issue with the second quarter is that initially they said that Whole Foods would be included in the Amazon category, but when I actually used the CFF at Whole Foods, I only got 1% back, which brings me to a customer service issue. When I called about the Whole Foods issue, they had to do an investigation and eventually said that I should have gotten 5% back but that it could take them two months or until the end of the quarter to make the adjustment. Those purchases are still only showing as 1% back. So, I have a major issue with that. Still, other than overlap with Target and grocery stores, I think that they’re doing a great job with the quarterly categories this year.
I only got 1X in April but then 5X in May and June at Whole Foods
This is really valuable insight! I appreciate you sharing your thoughts on this. I bet a lot of other people agree with you here.
I 100% and have been repeating the same thing over and over again about the chase category overlap with all there cards. I personally dont see the value for me in the Chase Trifecta because the 5x categories aren't categories I could really capitalize one to get maximum return and I have the venture x as my catch all so I only have the CSP planning on upgrading to CSR. Chase needs to have dedicated gas and groceries and if they want to keep dinning categories on all the cards then at least change the earning rate I dont think there's any reason that the no annual fee cards and the $550 CSR all earn 3x on dinning.
I really hope they revamp their cards a bit. They could get a lot more customers if they did so!
I never went for the welcome bonus on my Sapphire Preferred because of the opportunity cost of not been able to spend on groceries. Instead I got the welcome bonus on the Citi Premier.
Maybe later I'll get a bonus on one of the Sapphire cards, when I combine the new card with big travel.
I guess they figure they're winning by not giving us a groceries category. But they're losing with me because they're not getting the big-spending boost over the initial 3 months, and the lack of points will not be rolled over into big travel as readily.
Any welcome bonus is fair game to me! I think they could easily add a grocery category to make a lot of folks happy though.
100% agree. I’m definitely biased towards Chase myself 😂 but they have some clear issues that Amex or other cards beat them out on. The grocery category consistency would be nice to see eventually but don’t think we’ll ever get it.
I’m glad we’re on the same page! Thanks so much for watching Sam!
The Freedom Unlimited does 5x on groceries except at Walmart and Target.
only for one year
I guess I'm not the only one who notices the Flex card is slowly declining to where Discover is actually better! If you look at the last three years, Discover is clearly beating them with great categories like digital wallets and wholesale clubs coming up more often.
You're not wrong! The only saving grace is that you're earning UR points compared to just cash back, but I wish they'd make the categories more competitive.
A lot of the perceived "Chase value" is connected to the Chase Travel Portal, which often prices very, very poorly relative to other platforms out there. So, there's value leakage there w/o a doubt. That's the #1 I see.
Fair point! There’s a lot of issues with every lender and I’m all here for shining lights on those.
I dont think your point of alternative cards for rotating quater is good. With your logic you can do this with any category you pick , there will always be a better credit card out there for that category. The people using rotating categories the most tend to be individuals with less cards.
i highly agree with #3 customer service. they forced me to pay $315 for airline bags because the airline refused to take my bags but they don’t believe me so they really pissed me off with their customer service
The 5x on everything Chase secret is to get the no annual fee INK Cash and load up on the no fee Visa/MC when they go on sale at Staples or OfficeMax/OfficeDepot which is often. Who needs categories then?
That's very true! Luckily Chase isn't super strict about buying gift cards.
I prefer the Discover It card, compared to the Freedom Flex. Discovers categories are more useful for me.
I agree #TeamDiscover #TeamCashBack
If you're only on team cash back then that's a good choice!
You and venture must have coordinated vids. He did the same thing except for Amex😂
Hahaha I love it.
I absolutely find the Chase spending categories annoying. Once I got the Sapphire Preferred, there's rarely any reason to use my Freedom Flex outside of the 5% rotating categories
I get it man! I hope they revamp them eventually, but I wouldn't be shocked if they didn't.
I think they're doing better than Amex as far as physical cards, only because of the Aspire. Not only is it not metal, but it also has the same raised numbers. I agree that its outdated overall, but it makes less sense go me for a high annual fee card to have a cheap look.
They really need to update the Aspire. Their other cards are well designed though.
New to this game, bur a 701 credit scor, never paid late, got 2 Amex cards and yet credit karma says i have “poor” approval odds on the chase united gateway card!
Im looking to get the Amazon prime Visa and thats all.
yeah man I agree. the 5/24 rule is kinda of annoying I have the CFU, CFF, CIC, CIP and the CIU. I'm currently just waiting so I can other chase cards. one question , do I have to wait 24 months then cancels the chase cards and then apply for them again to get the intro bonus(again), or can I just hold the cards and wait 24 months and they'll just give me the bonus again?
It sounds like you got a great setup! To get the bonuses again, you can’t still be holding that card. You can always product change instead of cancelling though. So if you want another bonus on the CFU, product change your current one to the OG Chase Freedom or to another CFF and then you can reapply for the SUB on the CFU.
Another point is that Chase has pretty bad interest rates and fees as a bank while I’ve been really happy with Amex’s banking
That's fair too! This was more about their credit cards of course, but banking with them is a whole different experience too.
Dude; If you're not paying your balance in full, you shouldn't be carrying Chase credit cards. The finance charges will dwarf any rewards you get and there are cards out there with much better terms.
I agree on the 3% on groceries, instead of 3% on prescription drugs 💯. That would do a lot more for the Chase Unlimited credit 💳 😊
Absolutely!
It's 3x UR on drug stores, not prescription drugs. The former isn't all that great because people tend to not spend much at a drug store, which is probably why it's there, but latter really would be useless.
Weirdly enough, Chase customer service has pushed me to making Amex purchases on several occasions. I cannot stand having to call and wait on the phone for basic questions. Let alone a stressful travel situation where Amex has always come through for me.
I completely understand! I wish Chase would at least implement a chat feature...
Honestly I couldn’t agree more with these proposed changes, 2x on the unlimited would be a game changer.
Buttt now with the God Trifecta, (which may be patched), allows BILT to be 2x on all purchases as well.
This, for a Hyatt crazed person like myself, seems like a paramount card.
And agreed, need a 3x grocery, and a chat feature would be nice!
But really most people use the Amex chat feature is for retention offers haha. Otherwise, I use it for questions for videos haha.
Great honest breakdown Spencer! You’ve voiced what I’ve seen a lot of people mention recently with Chase.
I'm glad we agree man! I think they could make a couple of really small changes that would make people change their opinions on Chase if they didn't like them before. Will they do it though? Probably not 🤣 Thanks for watching as always Tony!
Hey Spencer quick question, been watching your videos before applying for my very first credit card. (I’m 21 and in college for 1 more year) I decided it would be best to try and get started with the Chase Freedom Flex with the goal of going for the chase trifecta as soon as possible to avoid the 5/24 rule. Unfortunately I got rejected right away for the Flex lol. I then immediately applied for the new Chase Freedom Rise and I was able to get approved right away online. Is committing to the Freedom Rise the right move? Should I use the Freedom Rise for 3-4 months then re apply for the Flex? Then work my way up to the unlimited, etc?
I think you made the right move! I'd definitely recommend beginners get started with the CFR now and then wait 6-12 months before applying for another. If after a few months you're already above a 700 credit score, you could go for the Flex then, but I'd focus on building that credit history for now and trying to keep a low utilization by making early payments if you can. I try to keep my utilization at 1-2% at my statement close date so that they see I'm using the card but using it very responsibly. You can use more of your limit than that throughout the course of the month, but I'd figure out when your statement close date is and pay your balance down to 1-2% utilization a bit before that and then let autopay pay off the rest of your statement balance on your payment due date. Hopefully that expedites your process so you can get approved for the CFF quickly!
@@SpencerJohnsonOfficial perfect, thank you for your help! Looking forward to getting started and working my way up
Freedom Rise plus Freedom Flex squarely target Discover.
But the glaring problem remains:
Foreign transaction fees.
FTFs are no fun that's for sure!
I was on the line with a chase rep bc the report they pulled said my credit was 50 points lower than it was. He told me to stop interrupting him after I started giving my DOB after he asked for it.💀
Dang that's not a fun experience. However, if you were looking at Credit Karma scores or something, that could be why you thought your score was higher than it actually was. They tend to be an overestimation. However, not a 50 point overestimation haha, that's wild.
@@SpencerJohnsonOfficial yeah I wouldn’t trip if it was even like 20 but 50 was a lil crazy. Gotta wait till tmr to dispute so hopefully that goes well
I was truly surprised when I was told that the travel I book through the Chase portal does not get you 5% on your statement. I only saw 2% and asked what was up and I was told the other 3% show up in "two to three billing cycles". Say what? Are you kidding me? I'll be canceling my Sapphire Preferred as soon as the first year is up (I didn't have to pay the $95 annual fee the first year because I opened the card in branch).
US Bank you can get 5% on Utilities and streaming services; AAA you can get 5% on Gas and 3% on groceries; Wells Fargo and Fidelity have 2% on all purchases. Chase needs to catch up.
That's definitely annoying! I think the CSP is well worth it for the ability to transfer out to travel partners, but not everyone wants to do that.
The overlapping categories is a peeve for sure. I got the business unlimited because its a simple 1.5% how the freedom unlimited should have been. It makes more sense that way.
Fair point!! I don't think that's a bad idea at all.
When you transfer Amex MR points to Delta/JetBlue, you have to pay an excise tax. When you transfer Chase UR points to United/Southwest, you DO NOT have to pay an excise tax.
Good point!!
I have 7 credit cards and none of them with Chase. I have had a Chase bank account for about 10 years. I have another joint Chase checking account with my wife too. Yet Chase has never offered me a credit card! But have charged me maintenance fees for years. I decided to leave Chase and opened up a checking account with PenFed credit union and immediately got targeted and approved for a 2% cash back credit card for a $10,000 credit limit.
You always gotta do what makes sense for you! I wouldn't wait for a bank to target you though... you can always apply without that and get approved just fine.
Great video! Question, I’ve the Amex platinum but did not received a welcome bonus, at some point can I re apply for the Amex platinum and receive the welcome bonus?
Thank you! Unfortunately, it sounds like you might have been caught in pop-up jail. If you accepted an approval from them without the bonus, you will likely not be able to ever get the bonus on the card with their once-in-a-lifetime welcome offer language sadly... hopefully you can get lucky with it down the line, but that's one of the annoying things about Amex.
@@SpencerJohnsonOfficial sounds good man, I appreciate the reply, wish the best to you!
I have been waiting the past 1 year 11 months and 27 days (true story😆) to apply for Chase. Im worried bc i have a amazon store card and get mixed messages about it counting towards 5/24 and others saying it doesnt count. Worst case scenario, amazon terms in October.
I'd say if the store card reports to your personal credit, it will count towards 5/24 unfortunately.
So besides the sign up bonuses, is there any reason to get chase cards over the Capital One Venture X and Savor One? Savor One has 3% on groceries and no fees. Venture X has at least 2x miles on all purchases.
I'm also leaning more into the Capitol one duo. The only reason it seems to get chase over Capitol one are the travel partners like Hyatt and Delta. I love those 2 travel partners so much but the bad chase point value just doesn't seem worth it to me and my lifestyle
With the Chase Freedom Rise, which card would be unnecessary for me in the trifecta? Will replacing the card be a big difference?
Technically you're getting most of the value from the Rise that you'd get from the CFU. However, you could always product change your CFR to the OG Chase Freedom and then add the CFU and CFF separately for 2 new welcome bonuses. It just depends on what you're going for.
Chase had me at the first problem....No grocery spend categories :(
That's definitely annoying!
But I hate about Max rewards is I've had to resync. My car is multiple times every week, sometimes every other day
For the ability to link directly to my cards, I'll click a couple extra buttons to sync it everyday. That's just me though!
@@SpencerJohnsonOfficial Yes you is. If you have multiple cards a lot of cars it becomes a hassle
@@SpencerJohnsonOfficial I don't know if it does the same thing to you but then I have to go back into my bank accounts login and then for them to send me a code and text then enter that on every single credit card
I recently got approved for credit card and I chose the Chase Flex. But the banker clicked the Chase Unlimited on accident and that’s the card I ended up with. She’s offered to fix it by contacting the lending department and letting them know it was her error in order to get me the Flex instead. But that would require to go through the whole process again. Should I just keep the Unlimited? Or take her offer and reapply for the Flex?
That's super annoying... I can't tell you what to do for sure, but I'd get whatever card you'd get the most value from! You can always add the other down the line.
AMX beats Chase for high points earners. GOLD card leads the way.
Chase beats AMX because AMX is sub-par for hotel points xfers.
They both have interesting strategies.
Currently the most innovative card lenders are Capital One and Wells Fargo.
And the most scared to make a move is Citi.
New interesting competition is Visa vs. MasterCard with food delivery.
MasterCard it's giving 5% off orders with delivery apps formally partnered with Visa.
So what's happening is, the food delivery companies are rising.
Don't underestimate food delivery as a category.
I did a DoorDash (Chase Sapphire membership) pick up order yesterday and used my BILT World Elite MasterCard to get 5% off and 6X BILT points on Rent Day.
Neither Chase Sapphire nor AMX Gold priced at 5%.
But Sapphire has the membership.
It pays to diversify your cards.
I really appreciate you sharing your thoughts!!
TLDR, I really can’t stand when someone uses that. Great points in this video.
Haha sorry about that! Thanks for watching though!
I agree with the overlap categories and that stupid dinosaur card with raised Numbers.
Hopefully they fix those things!
I'm getting the sapphire preferred. Is there a benefit to getting the other 2 free cards in trifector?
The benefit is earning more UR on your spending.
Is 30 days enough to apply for another Chase card? I got the CFU on June 10 and plan on applying for the CFF on July 10. I have a high credit score and nowhere near the Chase 5/24 limit
You should be fine! They do have a 2/30 rule though so you may want to space it out a bit more than a month.
I avoid Chase after they De-banked Kanye... but thank you for talking about them good or bad
I'm always happy to cover setups from a bird's eye view!
Chase may intentionally give Amazon on the second quarter instead of holiday season which we gonna spend the most on Amazon.
That's a fair point too. I would've rather had it in Q4 for sure.
Somebody explain to me what he means with the chase credit increase request. I don't really get it cuz I just applied for another card from them and I got not much but I got to $5,000 on my CSP but I also have the freedom flex which is $4,000. So what do you mean not to ask for increase later?
Chase is carried by transfer partners IMO. Hyatt and US domestic airlines are the only things setting them apart from the Capital One duo. I only plan to build the trifecta over years when I downgrade the CSP and apply for a new one.
Chase doesn't have a catch-all card that would make me wanna shift spend from Venture X. Making CFU 2x back on everything would help. I prefer VX over Saphire Reserve because I feel the annual fee on VX is more justifiable. And VX travel beneifits are obviously leagues better than those offered on Sapphire Preferred. If you have Venture X, then SavorOne > CSP because it is 3x back on ALL groceries, 3x back on entertainment, and comes with free Uber Plus for no annual fee. If Capital One somehow added Hyatt or did something crazy like a 1:2 bonus on a chain like Hilton or Mariott, there would be no competition.
I definitely see an argument for that! I’m a massive fan of their transfer partners and that’s why I continue to use their cards even if they aren’t quite as competitive as others in earning categories. Also, I agree with you. The Cap1 duo is really solid!!