Chase launches new credit card with spending perks – but is it worth getting?

MSE_Molly_G

Chase has launched its first ever credit card offering 15 months at 0% on spending, as well as being fee free to use overseas. However, it's only available to customers with its current account. So is it worth getting? Our analysis shows it can be beaten – here's what you need to know:

Chase launches new credit card with spending perks – but is it worth getting?

If you haven't already, join the forum to reply.

Mr_MPF

Bit underwhelming from Chase really ... I had high hopes for their credit cards launch following their solid debit card offering! Alas... 

barnehurst

Total waste of time! I'm an existing Chase account holder and took part in all the pre-launch surveys. I said there was one thing that would entice me to get a Chase Credit Card..

One thing that would lead me to stop using all my other cards
One thing of importance..

That thing was - 1% cashback on all purchases! Just like they used to offer on their now discredited and discarded debit card

And I'm still looking for a credit card that offers this!

So Chase, if youre reading this - go back to the drawing board and offer us the 1% cashback on ALL purchases!

sausage_time

Amex remains my go-to, with the likes of Trading 212 Debit as a 0.5% backup for those places that don't take Amex.

Arguably 0% for 15 months on Chase could be worth a few % in interest if managed properly.

ColdIron

It's a great card. I got one in March when it was a limited offer and am just shy of my credit limit. £6,200 earning interest until June next year. What's not to like?

barnehurst said:

That thing was - 1% cashback on all purchases! Just like they used to offer on their now discredited and discarded debit card

And I'm still looking for a credit card that offers this!

2% cashback on pretty much any purchase with the Santander Edge card. 1.60% after the £3 fee

WillPS

ColdIron said:

barnehurst said:

That thing was - 1% cashback on all purchases! Just like they used to offer on their now discredited and discarded debit card

And I'm still looking for a credit card that offers this!

2% cashback on pretty much any purchase with the Santander Edge card. 1.60% after the £3 fee

Only in Y1 and it's capped at £15. Drops to 1% in Y2 (effectively 0.8% on exactly £1500).

Still good tho.

NoodleDoodleMan

I have the Mark1 Chase credit card, was amongst the first wave of debit card holders to be offered it.

Haven't been included in the new credit card pioneers - probably because my spend on the original has been sparse so far. 

This Mark2 doesn't appear to be any better than other similar products.

I may be wrong, they don't allow additional cardholders AFAIK unlike most other banks.

TwiceNightly

What's the Mark2 credit card?

As far as I know the only difference now is that it's being offered to everyone and not just selected customers?

Olenna

barnehurst said:

Total waste of time! I'm an existing Chase account holder and took part in all the pre-launch surveys. I said there was one thing that would entice me to get a Chase Credit Card..

One thing that would lead me to stop using all my other cards
One thing of importance..

That thing was - 1% cashback on all purchases! Just like they used to offer on their now discredited and discarded debit card

And I'm still looking for a credit card that offers this!

So Chase, if youre reading this - go back to the drawing board and offer us the 1% cashback on ALL purchases!

Unless they launched on some exotic card network e.g. JCB then they'll receive a maximum of 0.3% of interchange income from purchases - so would need to run as loss leader like their UK debit card does even today. 

NoodleDoodleMan

TwiceNightly said:

What's the Mark2 credit card?

As far as I know the only difference now is that it's being offered to everyone and not just selected customers?

The new one being offered ?

Unless I've totally misread and misunderstood the recent version ?

If so - a thousand apologies.

TwiceNightly

NoodleDoodleMan said:

TwiceNightly said:

What's the Mark2 credit card?

As far as I know the only difference now is that it's being offered to everyone and not just selected customers?

The new one being offered ?

Unless I've totally misread and misunderstood the recent version ?

If so - a thousand apologies.

Ah there's only one, the same one it's always been, it's just now it's in the app and available to apply for everybody.