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February 27, 2010


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I have never done that but I wanted to let you know I've been a chase freedom user for a long time and they just sent me a letter saying they were taking away the extra $50 after you earn $200 and moving to one "rotating" category instead of top 3. That one category will now get 5% back but they did not explain exactly how they would "rotate" the category, so I may end up getting only 1% most of the time. Suddenly it's a very average card!

Oo, I have the Paypal debit card and the Paypal account, but not the credit card. Good stuff to know tho, if I ever spring for the credit card. Thanks!

Also on the Chase Freedom card, pay attention to your statements. Even if you pay off your entire balance by the due date, you still pay a finance charge. They now charge you interest on your average daily balance.

Re Todd - I just got teh same letter from Chase about my Freedom Card.

Re bobsmit - I'm doubtful. Any evidence?

bobsmit is wrong:

"So you can take full advantage of your grace period, credit card issuers will be required to mail your billing statement at least 21 days before finance charges would be assessed. This new law goes into effect on February 22, 2010."

What if you use the Schwab 2% cashback card as a backup funding source?

Yes, would a non-paypal backup rewards card work as well?

Todd and Matt, when did Chase tell you that those new rules are taking effect?

They sent me something in the mail a few weeks ago saying it would go into effect April 1st. They said at some point I would get another letter with more details but I haven't seen it yet.

Forget Chase.

Get a Discover More and a Schwab. Done.

Read the notices from Chase carefully. I got one five or six months ago, saying that the "rules" on my Freedom card were changing (sorry, I don't recall the exact details, but I do know the new rules were the same as others reported here on FMF).

Anyway, the notice said something like "call us if you don't want to switch" -- so I did. I told the CSR that I didn't want my card to change. She said OK, and as of today, I am still getting my top 3 categories at 3% (different every month), and I can redeem $200 earnings for a $250 check. I'm keeping an eye on my statements to see if they try to slip any changes in, but so far, so good.

BTW, I don't have any other kinds of accounts with Chase.

This doesn't work with paypal anymore. You'll only get your 1.5%/1% cash back with the debit card. They won't give you any points when you use the credit card as backup funding.

I have the xtras credit card with paypal as well as the debit card getting 1.5% back and I get both the money and the points. just don't know how they do the calculations. my points seem a little high

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