MoneyMay 16, 2026
Chase Rode Its Big Bank Reputation to Credit Card Royalty — But Changes to Benefits and Devaluations Are Threatening Its Throne
Loyalty Economics
Noah Weidner
Discover
JPMorgan has been able to do a lot by leveraging its position as America’s largest bank, including offering savings accounts that pay next to no interest. But at least they have their credit cards, right?
Not necessarily. In light of some recent and unsavory changes in Chase’s credit ecosystem, it’s worth wondering how long the company can ride the coattails of its brand visibility to win over new cardmembers on its Chase Freedom or Sapphire cards.
Chase’s flop era? Chase might’ve won the premium credit card makeover battle last year, but its ecosystem is far from dominant. Sure, there are more reasons to have a United co-branded credit card nowadays, but the reasons to carry Chase’s own branded cards? That’s debatable. In an increasingly crowded credit ecosystem, the company is dismissing standout features that make their cards worth having — three massive changes to its branded products are largely to blame.
We spend a lot of time talking about credit cards, and really, the ills of the modern credit card ecosystem — whether it’s unnecessary annual fees, coupon books filled with brands you don’t care about, or things just getting worse. To that end, we wonder what Chase is good for now.
So what then? If you have a Chase Freedom Flex or Unlimited, check out Citi’s Double Cash and Custom Cash cards. If you have a Chase Sapphire Preferred or Reserve, maybe you’d be better off focusing on a simple 2% back or 2x points card. Those chasing card royalty might also consider the everyman’s premium card, the Capital One Venture X, which feels like a rejection of the games being played in premium credit land.
