Chase to Sunset Starbucks Credit Card, Convert Users to Freedom Cards
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The Starbucks® Rewards Visa® Card, which has been closed to new applications since August 2022, is officially grinding to a halt.
The card's issuer, Chase, has notified existing holders that the card will be fully discontinued on July 20, 2023, and that current accounts will be converted to one of Chase's Freedom cards.
What Starbucks® Rewards Visa® Card customers need to know
Existing Starbucks® Rewards Visa® Cards will be transitioned to either the Chase Freedom Unlimited®, or to the original version of the Chase Freedom® if the cardholder already has the Chase Freedom Unlimited®. If the cardholder already has both of these cards, they will be converted to a second Chase Freedom Unlimited®.
Chase provided the following additional information about the conversion:
Account numbers, credit lines and interest rates will remain the same.
All Starbucks® Rewards Visa® Card customers will receive a pro-rated refund for their annual fee. (The card's annual fee was $0 intro for the first year, then $49.)
You can use your existing Starbucks® Rewards Visa® Card until you receive the new Chase Freedom® or Chase Freedom Unlimited® in the mail.
As long as you keep your Starbucks® Rewards Visa® Card through July 19, 2023, Chase will also provide you with 400 bonus stars to your Starbucks Rewards account.
Stars earned on your Starbucks® Rewards Visa® Card through July 19, 2023, will not expire until August 2024.
Interestingly, Chase chose to transition some existing cardholders to the original Chase Freedom® (which is closed to new applicants), instead of the Chase Freedom Flex℠.
The Chase Freedom Unlimited® has a $0 annual fee and earns 5% cash back on travel purchases through Chase Ultimate Rewards®, 3% cash back on dining and drugstore purchases and 1.5% cash back on everything else.
The Chase Freedom® also has no annual fee and earns 5% cash back in rotating categories on up to $1,500 in combined purchases per quarter. It earns 1% cash back on all other purchases.
Information about the Chase Freedom® has been collected by NerdWallet and has not been reviewed or provided by the issuer of this card.
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