The New Chase Freedom Flex MasterCard Will Launch September 15, 2020, and the Chase Freedom Unlimited will get new bonus categories, while the current Chase Freedom Visa with rotating 5X categories will be closed to new applicants. All Chase Freedom cards have no annual fee, making them ideal workhorses for points earning.
New Chase Freedom Flex Welcome Bonus
- Chase Freedom Flex signup bonus of 20,000 bonus points (which can be transferred to Ultimate Rewards partners if you have a qualifying Chase card) or $200 cash back
- 5X points (or 5% cash back) on grocery store spend for the first year, on up to $12,000 of spending
New Chase Freedom Flex Points Earning
- 5X on Rotating Quarterly Bonus Categories Similar to the current Chase Freedom 5X card, the Chase Freedom Flex earns 5X on up to $1500 in combined purchases on bonus categories such as grocery stores, gas stations, etc.
- 5X on Travel booked through Chase Ultimate Rewards, including vacation and car rentals (read on to find out why we don't recommend this)
- 3X on Dining spend. This includes restaurant take out and eligible delivery services.
- 3X on Drugstore spend.
The new Chase Freedom Flex is a MasterCard, unlike Chase's other credit cards, which are all Visa (due to a longstanding exclusivity contract in exchange for flat interchange fees). As such, it will include MasterCard World Elite benefits:
- Cell Phone Insurance – Up to $800 per claim and $1000 per year in cell phone protection against theft or damage for phones that are listed on cardmembers’ monthly bill.
- Lyft –$10 in credit for every five rides taken in a calendar month, automatically applied to the next ride (once per month).
- Boxed – 5% cash rewards on Boxed purchases for use on future purchases.
- ShopRunner – Free membership to receive two-day shipping and free return shipping at over a hundred online retailers.
- Fandango –Double VIP+ points for movie tickets purchased via the Fandango app or Fandango.com, usable for buying movie tickets on Fandango or for streaming movies and TV shows on FandangoNOW.
Improved Chase Freedom Unlimited Points Earning
- 5% cash back on travel purchased through Chase Ultimate Rewards
- 3% cash back on dining, takeout, and eligible delivery services
- 3% cash back on drugstores
- 1.5% cash back on everything else
Current Chase Freedom Visa Will Close to New Applicants
Since the new Chase Freedom Flex is supposed to replace the current Chase Freedom Visa with its rotating 5X categories, the Chase Freedom Visa will be closed to new applicants.
Who Can Earn the Signup Bonus for the New Chase Freedom Flex?
Updated: Since the Chase Freedom Flex is a new card product, even existing Chase Freedom and Chase Freedom Unlimited card holders can receive a signup bonus if approved. Although not yet confirmed, our working assumption is that Chase 5/24 rules will apply.
Will the New Chase Freedom Flex Quarterly 5X Bonus Categories Be the Same as the Existing Chase Freedom 5X Quarterly Bonus Categories?
Yes, the rotating quarterly 5X bonus categories will be the same for both the new Chase Freedom Flex MasterCard and the existing Chase Freedom Visa (which is being closed to new applicants).
Can Existing Chase Freedom Visa Cardholders Product Change to the New Chase Freedom Flex MasterCard?
Yes; those holding the Chase Freedom Visa can (but don't have to) product change to the Chase Freedom Flex MasterCard. They won't, however, receive a signup bonus.
Is There Any Reason NOT to change to the New Chase Freedom Flex?
Given what we know so far, the only reason would be if you need a Visa card instead of a MasterCard.
Is There Any Change to Transferring Points Out to Ultimate Rewards Partners?
No, there's no change–you'll still need a Chase card that is linked to Ultimate Rewards (such as a Chase Sapphire Reserve, Chase Sapphire Preferred, or Ink Business Preferred) to transfer points earned on any Chase Freedom out to Ultimate Rewards partners.
Given the 5X Bonus on Travel Booked Through Chase Ultimate Rewards Should I Book All My Travel That Way?
Honestly, we wouldn't recommend booking any major travel that way. The Chase Freedom doesn't have the travel insurance protection that the Chase Sapphire Reserve does, nor will booking via the Chase Portal allow you to enjoy the considerable perks and preferential upgrades of Virtuoso, Four Seasons Preferred Partner, Hyatt Prive, and the many other luxury hotel preferred partner programs our clients enjoy.
Will it Be Possible to Have Two Freedom Flex Cards?
Currently, some cardholders have two Chase Freedom 5X cards from product changing another Chase card. That said, Chase has confirmed to DoC that it will NOT be possible to hold two Freedom Flex cards.
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