Post Highlight:

  • Received upgrade notification for Visa Signature on Chase Freedom card.
  • Not sure why fast food buying prompted the upgrade, but I’ll take it!
  • Slightly hesitant on dealing with credit line reporting issue from Signature cards.

Whenever I receive a mailer from the good state of Delaware (with its lovely debtor-friendly laws), I’ll know from past experiences that this is probably one of my credit card company informing me that they have changed my credit card’s terms and conditions, so they can “better” serve me, their loyal customer.

Imagine my surprise when I opened one such mailer to found out that Chase will be upgrading my Chase Freedom Visa Card to include Visa Signature benefit.

Dear Bestest Customer in the Worldz:

As your credit card company, we value your business. We’re writing to share information with you regarding exciting upgrades to your Chase Freedom Visa card.

Effective July 2, 2008, your Chase Freedom Visa card will be upgraded to include Visa Signature benefits!


Chase Freedom Visa Signature

Visa Signature Benefits:

  • Complimentary 24-hour concierge service
  • No pre-set spending limit (credit line convert to credit access line)
  • No over the credit limit fee
  • 800-953-7392 for concierge service or,
  • Register and login for online assistance and service

I’m not quite sure why my binge of fast-food buying translates to a 24-hour concierge service benefit upgrade, but who am I to turn away the added benefit, especially at no additional annual fee?

Although I use to be skeptical of how helpful concierge benefit provided from credit cards can be, according to a NY Times article, the service can actually be quite handy. From your basic needs such as driving direction, to arranging a hearing for newlyweds with the pope, it seems people across the country are utilizing credit card provided concierge service more and more — especially after they become familiar with the range of services provided.

As soon as the effective date starts, I’ll give the concierge service a few whirl, and will write a review detailing the usefulness (or not) of the service.

As a side note, one aspect on this benefit upgrade that I’m not too thrill about is the “no pre-set spending limit” feature of Visa Signature cards, as once my card is switched over, Chase will no longer report my credit limit to the credit report agencies. This will lower my credit utilization ratio, and potentially bring my credit score down a few notch. We’ll see how this effects my credit score on my next FICO score tracking update.

Opting-Out to Visa Signature Upgrade

Your Chase Freedom card’s reward structure won’t change, nor will your account number and “soft” credit limit. If you’re concern about potential lowered credit score due to the change from credit line to credit access line, it’s fairly easy to opt-out of this upgrade, even though it wasn’t explicitly stated in the letter.

  • Call Chase at 800-524-3880 and tell them you don’t want to be upgraded
  • Customer Service Rep should note the request on your account
  • Opt-out request should be filed by 6/17/2008, according to Fatwallet posting

Overall, Still Pretty Happy with my Chase Freedom Cards

For those that aren’t familiar with the card, the Chase Freedom reward cards comes with a fairly decent benefit of 3% cash back on top spending categories, and 1% on everything else. The spending categories numbers in fifteen, and includes things such as grocery stores, gas, utilities, and pet supply stores.

Best of all, if you save your cash-back dollars up to $200, you can claim a $250 check, effectively making this card a 3.75% / 1.25% cash-back card.

Since opening a Chase Freedom World MasterCard a year ago and switching one of my old Chase Visa card to the Freedom card, I have already claimed one $250 cash-back check, and am currently on my way to receiving a second $250 cash-back check.

If the spending categories fits your spending habit, and you currently don’t have a decent cash-back credit card, the Chase Freedom Card isn’t too shabby of a choice.

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