![]() This point is positively moot if you know how to use the cards. These travel card bonuses are a gigantic reason not to upgrade your cards. We estimate Chase points value to be around 1.7 cents each, meaning you’ll forfeit around $1,020 in travel by upgrading. Currently, the Chase Sapphire Preferred comes with 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. When you upgrade the Chase Freedom to the Sapphire Preferred, you are disqualifying yourself from earning the card’s sign-up bonus. Read our post on Chase Sapphire Preferred approval tips to give yourself the best chance of a successful application. You can hold both cards at once, so why wouldn’t you? It’ll ensures you’ll get bonus points for more of your spending. The Chase Sapphire Preferred and Chase Sapphire Reserve are perfect for dining and travel. The Chase Freedom is a powerhouse for earning Chase points on rotating bonus categories (5x points on up to $1,500 in spending each quarter when you activate your card, then one point per dollar) like Amazon, gas stations, supermarkets, streaming services and more. (Photo by Joseph Hostetler/Million Mile Secrets) Why you should not upgrade your Chase Freedom You can have both cards Upgrading cards at inopportune times could mean you missing out on enough points for a free trip to the Maldives. Information for the Chase Freedom card has been collected independently by Million Mile Secrets and has not been reviewed by the card issuer. I’ll explain what you stand to gain and lose by upgrading your Chase Freedom. By the end of this post, you’ll know exactly what you should do. There are very compelling reasons on both sides of this argument. This is an example of a “product change” – switching your current card to a similar card issued by the same bank. A common question we receive is guidance as to whether one should upgrade the no-annual-fee Chase Freedom® to the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®. If you misunderstand it, you’ll cheat yourself out of potentially thousands and thousands of dollars in hotel stays, business-class flights and plenty more.Ĭhase credit cards are by far the most popular travel credit cards. It’s something called “product changing,” and it’s got a lot to do with how you manage rewards credit cards. Over the years, readers have continued to inquire about one important aspect of the miles and points hobby. Check our Hot Deals for the latest offers. Update: One or more card offers in this post are no longer available. Here’s our full advertising policy: How we make money. Terms apply to the offers listed on this page. Signing up for credit cards through partner links earns us a commission. Some of that content may also contain ads, including links to advertisers’ sites, and we may be paid on those ads or links.įor more information, please see How we make money. ![]() ![]() We also include editorial content to educate consumers about financial products and services. We have partnerships with advertisers such as American Express, Brex, Capital One, Chase, Citi, Wells Fargo and Discover. Each advertiser is responsible for the accuracy and availability of its ad offer details, but we attempt to verify those offer details. When you click on that hyperlink or button, you may be directed to the credit card issuer’s website where you can review the terms and conditions for your selected offer. Many, but not all, of the offers and clickable hyperlinks (such as a “Apply Now” button or “Learn More” button) that appear on this site are from companies that compensate us. This page may include: credit card ads that we may be paid for (“advertiser listing”) and general information about credit card products (“editorial content”). All information is presented without any warranty or guarantee to you. And the advertised offers may be subject to additional terms and conditions of the advertiser. So, your actual offer terms from an advertiser may be different than the offer terms on this site. We strive to keep our information accurate and up-to-date, but some information may not be current. While we strive to provide a wide range of offers, our site does not include information about every product or service that may be available to you. The compensation we receive and other factors, such as your location, may impact what ads and links appear on our site, and how, where, and in what order ads and links appear. Many, but not all, of the offers and clickable hyperlinks (such as a “Next” button) that appear on this site are from companies that compensate us. To support our work, we are paid for providing advertising services. ![]() Our reporters create honest, accurate, and objective content to help you make decisions. ![]()
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