Chase Launches Chase Freedom Rewards Card

Chase Freedom allows cardmembers to change the types of rewards – cash and rewards points – they earn as their needs change without ever leaving rewards behind. Chase Freedom signifies a new era in the competitive credit card rewards marketplace.

While many rewards programs exist, most lock consumers into a rigid system of rules and limited redemption options. Chase Freedom breaks from this tradition by giving cardmembers the ability to seamlessly change between cash back and points. With a simple earning structure and unmatched flexibility, Chase Freedom is uniquely positioned as the industry’s next generation of rewards programs.

“Our cardmembers lead busy, dynamic lifestyles,” said Carter Franke, chief marketing officer of Chase Card Services, the company’s credit card division. “They told us they want more control and flexibility, and we’re meeting their needs by giving them the freedom to choose, the freedom to change and the freedom to earn more. We also have the advantage of blink-enabled purchases at more than 30,000 merchant locations nationwide.”

Chase created Chase Freedom’s features based on direct feedback from consumers. Focus groups and other research efforts gathered input from thousands of consumers representing a diverse range of current and potential Chase customers.

“Chase Freedom is the most researched product in our history,” added Franke. “To learn precisely what choices our customers wanted, we sought their advice on everything from the types of cash back and redemption options that most interested them to what they found most restrictive with other offerings. This is truly a product designed by and for our cardmembers.”

In the spirit of supporting Chase Freedom’s unique change benefits, Chase Card Services commissioned an online survey conducted by Greenfield Online. The Chase Freedom “Change It Up” survey polled 1,191 adult Americans with results indicating that nearly everyone would change some aspect about their lives if given the opportunity.

The survey covers a range of topics related to changing – from consumers’ desire to change attributes with celebrities to changing moments in time or even credit card features. Surprisingly, most men would pass up the opportunity to change their looks for Brad Pitt’s or their athleticism to hit the ball like Derek Jeter for Jet Li’s martial art skills, with 26 percent of male respondents envying Jet’s skills. Meanwhile, nearly half of female respondents (40 percent) would swap their stomach for Janet Jackson’s.

Changing gears to credit card rewards, 64 percent of respondents would change their credit card rewards features to receive cash back. (For the full survey results, please see separate press release titled “Given The Freedom To Choose, Fortune Trumps Fame, Reveals Chase Survey” (PDF) from Chase Card Services issued Sept. 18, 2006.)