Change from Chase Freedom Rewards to Freedom Flex Mastercard

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Credit card issuers never announce how many people have a particular card. But I have no doubt that the Chase Freedom is one of the most popular reward credit cards in the United States, if not the most popular. That’s because it offers 5% cash back on quarterly bonus categories, up to $ 1,500 spent each quarter, easily making it one of the best cash back cards on the market.

Chase also offers the Unlimited freedom card, which offers 1.5% cash back on all purchases, as well as 5% discount on groceries for the first year. Beyond the great rewards, one of the reasons the two Chase “Freedom” cards are so popular is that they have no annual fee, while other Chase reward cards have an annual fee of $ 95. or more.

In September, Chase is making sweeping changes to both versions of Freedom, and the big takeaway is that that’s almost all good news for cardholders.

Chase Freedom becomes Freedom Flex

The original Freedom card has consistently offered 5% cash back on up to $ 1,500 spent each quarter at featured merchants and merchant categories, such as supermarkets, gas stations, drugstores and retail stores. home renovation. Chase says it doesn’t change this popular feature. But it does add 5% on trips purchased through Chase Ultimate Rewards and 3% on restaurant purchases, including takeout or qualifying delivery services. You will also receive 3% cash back at drugstores and unlimited 1% cash back on all other purchases.

But with these changes, the Visa payment network is shifting to Mastercard. Cardholders will automatically receive benefits of the World Elite Mastercard program, including:

  • Cell phone insurance. You’ll enjoy protection of up to $ 800 per claim and $ 1,000 per year against theft or damage for cell phones shown on cardholders’ monthly bills.
  • Lyft. Receive $ 10 credit for five trips taken in a calendar month, automatically applied to the next trip and capped once a month.
  • Canned. Earn 5% cash rewards on boxed purchases to use on future purchases.
  • ShopRunner. Free membership to benefit from two-day delivery and free returns to over 100 online retailers.
  • fandango. You will earn double VIP + points for movie tickets purchased through the Fandango app or, which can be used to purchase movie tickets on Fandango or to stream movies and TV shows on FandangoNOW.

Chase Freedom Unlimited: Upgrade Rewards

Don’t be left behind, Chase’s Unlimited freedom The card also receives upgrades in the form of a 3% discount on meals and at drugstores, while retaining its unlimited 1.5% cash back on all other purchases. Freedom Unlimited remains a member of the Visa payment network.

A disadvantage

These changes, which go into effect for both cards on Tuesday, September 15, are almost all positive, with one exception for the new Freedom Flex card. When you receive the Freedom Flex card, it is part of the Mastercard payment network, which is normally not a big deal. However, Costco has an exclusive deal with Visa, so you won’t be able to use Freedom Flex there.

Otherwise, you’ll enjoy many new benefits of the Mastercard World Elite program, so that’s probably a net positive for most people.

Chase freedom against unlimited freedom? Or both?

If you have the standard Freedom Visa card, you can continue to use it for the foreseeable future, but at some point it will likely be replaced by the Freedom Flex Mastercard. Alternatively, you can contact Chase and request a product change for the Freedom Flex once it releases on September 15th.

Upgrading to the Freedom Flex Mastercard will make a lot of sense to most people, but what if you’re a regular Costco buyer? Then you might want to apply for the new Visa Freedom Unlimited card to use at Costco, which doesn’t accept Mastercard payments. The Freedom Unlimited card can also come in handy as it offers 1.5% cash back on all purchases, which means you’ll get 50% more cash back than the 1% available on many purchases. with Freedom Flex.

Conclusion: Changes to the Chase Reward Card

The best thing about the credit card industry is how competitive it is. That’s why one of the most popular credit cards in the United States is getting a major upgrade. Taking a look at the new Freedom Flex and Unlimited freedom, you can be sure to earn as much money as possible every time you make a purchase.

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