Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
- I’m dumping the Chase British Airways Visa – and you should, too
- Loving Citi More Than Ever – Time to Cancel Other Cards?
- Update: Denied for Chase Freedom Unlimited – DIAF!
UPDATE 3/31: I was denied. 🙁
Chase will soon (in April 2016) extend their restrictive 5/24 rule to all their card offerings, including co-branded and small business credit cards. And presumably to the new Chase Freedom Unlimited card when it launches online.
The 5/24 rule means if you’ve opened 5+ cards within the previous 24 months, you’ll be instantly denied for a new Chase card. I’m suddenly no longer their target market.
It’s the last week of March, which means this is my last crack at opening up that Chase Marriott Premier card or a Chase Ink Cash, for example.
Instead, I went with the Chase Freedom Unlimited, which will be available for online applications on April 7th, 2016.
However, you can apply in-branch or over the phone right now. (Or at the bottom of this page.)
So today, I strolled over to the Chase bank 2 blocks away on my lunch break (I still haven’t grocery shopped since getting back from Vipassana) and applied in-person for the new Chase Freedom Unlimited.
I love how the acronym for this card is, endearingly, FU.
Why I applied for the Chase Freedom Unlimited (FU)
- Link: Chase Freedom Unlimited – Compare it here
|Chase Freedom Unlimited||• $200 bonus (20,000 Chase Ultimate Rewards points)
• 5% cashback on grocery store purchases (not including Target or Walmart) on up to $12,000 spent in the first year
|• Spend $500 on purchases in your first three months of account opening|
|• $0 annual fee||After, earn unlimited 1.5% cashback on all purchases|
|• Great for everyday spending||• Compare it here|
1.5 Chase Ultimate Rewards points for all purchases, with no cap!
And, the points transfer 1:1 to Chase Ultimate Rewards transfer partners like United and Hyatt, if you have the Chase Sapphire Preferred, Chase Ink Plus, or Chase Ink Bold.
That’s the best earning rate on non-bonus spend of any card that earns Chase Ultimate Rewards points.
I’d value that earning rate for the long-term above any current (one-time) sign-up bonus because of how flexible Chase Ultimate Rewards points are.
Because I always make sure each of my points are worth at least 2 cents each, so that’s equal to 3% back to me. Which is great for a card with no annual fee.
Even better, it seems that phone and online applications for the Chase FU are immune – for now – from the 5/24 rule. But I fully expect this rule to be enforced by the time it launches online April 7th, 2016.
So if you’re interested, apply in the next couple of weeks!
Not instantly approved
The Chase banker I met with was very up-to-date about the new Chase FU card.
He was, of course, more than happy to process my application.
I’ve heard of many peeps getting approved instantly in-branch, which gave me hope.
But, I was told I’d hear back in 7-10 days regarding a decision. Drat!
I did, however, confirm the sign-up bonus of 15,000 Chase Ultimate Rewards points ($150) after spending $500 within the 1st 3 months.
I was really hoping for an instant approval so I wouldn’t have to worry about it. Plus, it’s a Freedom card, which doesn’t require an excellent credit score – and mine is well over 750 at the moment. So theoretically, I should’ve been a shoo-in.
I called the reconsideration line to see if I could usher this toward approval, and the rep was ice cold. Told me the same line about “wait for a decision.” Which is probably better, because at least they didn’t deny me.
Chase really does seem to be tightening up fast.
With that thought, I do believe right now is your best chance to get this card if you’re interested. Call a Chase rep from one of your current cards, or visit a branch to apply. They are definitely aware of this card, and of the new rules.
- Link: Chase Freedom Unlimited – Compare it here
Chase is erecting a wall a mile high. AMEX has a once per lifetime rule on all cards now. And even with Citi, I had no luck getting a $350 annual fee on Citi Prestige by applying in-branch.
I’ll let you guys know if I end up getting the Chase Freedom Unlimited card – cross your fingers for me!
Either way, this last dance with Chase is aptly named, for both of us: FU.
FU, too, Chase. 😉 I love Ultimate Rewards, but this is just getting gross.
Let me know if you have’ve had any experiences with Chase lately, or the new Chase FU card! And here’s the link if you want to compare it.* If you liked this post, consider signing up to receive free blog posts in an RSS reader and you’ll never miss an update! And thanks for using my links to apply for new card offers!
Out and Out has partnered with CardRatings for our coverage of credit card products. Out and Out and CardRatings may receive a commission from card issuers.
- Chase Sapphire Preferred - Earn 100,000 Chase Ultimate Rewards points and 2X bonus points for travel and dining - BEST EVER OFFER!
- Chase Ink Business Preferred - Earn 100,000 Chase Ultimate Rewards points and 3X bonus points for travel, internet, cable, and phone service
- Amex Blue Business Plus - Earn 10,000 Amex Membership Rewards points and 2X bonus points on up to $50,000 in spending per year with NO annual fee
The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.