Hello!
I am pre-approved for the Chase Sapphire Preferred card and I had a question regarding my old Chase Freedom Unlimited card. Note: I have had my Chase Freedom Unlimited card for ~3 years.
If I essentially upgrade to Chase Sapphire Preferred from Freedom Unlimited, should I cancel my old Freedom card since I won't be using it anymore?
I want to keep it in order to keep my spending:credit limit ratio high, but I don't think I will use my Freedom Unlimited card after I upgrade to the Sapphire Preferred. Won't Chase cancel my card automatically if they don't see any activity on my Freedom Unlimited?
Any advice is helpful.
Thank you!
I'm an undergrad at College using BoA cash rewards platinum plus but I want to get cards with more travel benefits for the future. I don't really travel right now. But I'd like to in a year or two. The mileage you can get with chase sapphire preferred/reserved looks really interesting and I'd like to do something like that, but I don't spend nearly enough money to make it worth the annual fee right now. My credit score right now is around 730. Is there any reason not to get chase freedom unlimited then sapphire preferred/reserved at a later time? Is it possible they'll change the deal? Is there better alternatives? I spend most my money on amazon and restaurants right now but that's expected to change once I move out of my house.
I've had the Sapphire Preferred for a while, and I understand that its main draw is 2x points on travel and dining. But I also got the Freedom Unlimited recently, and it's been offering so many things including 5% back on travel, 3% back on dining, amongst many others. If my calculations are correct, the Freedom gives better cash back than the Preferred at the moment, right? So I'm wondering why I should be keeping my Preferred at all. Especially during these times when we're not traveling nearly as much. I'm just a bit confused as to why they keep giving Freedom rewards that outpace the Preferred, rather than giving Preferred a few more benefits as well?
Posted by6 years ago
Archived
Quick question, trying to understand when it is worth it to retain the Chase Sapphire Preferred after the initial one year period and paying the fee ($95) vs getting 1.5% all the time with Chase Unlimited?
I am trying to understand how much i need to spend per year to cover the fee and be at a 1.5% rate as compared to the Chase Unlimited and which card would be better in the long run.
I eat out pretty often, but travel once in a while.
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r/CreditCards
Chase Freedom Unlimited: 3% cash back on dining
Chase Sapphire Preferred: 3x points on dining
which one will give you more value on dining? are they the same? does it depend on how much is spent on dining? I plan to transfer any points earned on CFU to CSP to gain the multiplier. thanks!
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