Chase Freedom FLEX vs. Chase Freedom UNLIMITED (Best Cash Back Credit Cards)

Two of the best cash back credit cards (for beginners and advanced users alike) are about to get a HUGE overhaul in their benefits. Click "Show More" to see Ad Disclosure.

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So what’s changing? Here’s the rundown!

The CHASE FREEDOM FLEX card will earn rewards points in the following categories:
5% Rotating Quarterly Categories (i.e. new bonus categories every 3 months)
5% Travel (booked through the Chase Ultimate Rewards portal)
3% Dining (including takeout and eligible delivery services)
3% Drugstores / Pharmacies
1% Everything Else

Note that the Rotating Quarterly Categories are CAPPED on up to $1,500 spend per quarter (i.e. you can earn a maximum of 7,500 UR points or $75 cash back at 5%, then it goes down to 1% afterwards until the next quarter begins).

The CHASE FREEDOM UNLIMITED card will earn rewards points in the following categories:
5% Travel (booked through the Chase Ultimate Rewards portal)
3% Dining (including takeout and eligible delivery services)
3% Drugstores / Pharmacies
1.5% Everything Else

So these cash back credit cards with no annual fee are very similar, but the main difference is that the Freedom Flex earns 5% in capped categories that change while the Freedom Unlimited earns 1.5% in a broad category with no cap.

MORE CHANGES!!!

The Chase Freedom Unlimited will remain a Visa card.

The Chase Freedom Flex will be a Mastercard.

~~ This means 2 big things for a lot of people. ~~

First, ONLY the Chase Freedom Unlimited can be used at Costco.

Second, the Freedom Flex card will be the WORLD ELITE MASTERCARD BENEFITS, including:

Cell Phone Insurance – Up to $800 per claim and $1,000 per year.

Lyft – $10 in credit for every 5 rides taken in a calendar month

Boxed – 5% cash rewards on Boxed purchases for use on future purchases.

ShopRunner – Free membership

Fandango – Double VIP+ points for movie tickets purchased via the Fandango app or Fandango.com.

These credit cards also SHARE BENEFITS.

Lyft: Earn 5% back on rides thru March 2022
DashPass by DoorDash for 1 Year
First 3 months: FREE, Unlimited deliveries for $0 delivery fee for order over $12
Next 9 months: 50% OFF, Auto-enrolled in DashPass at 50% off for next 9 mo.

So which credit card is best for YOU?

The simple answer…

GET THE CHASE FREEDOM FLEX if you:
DO want 1 credit card
DO want cell phone insurance
DON’T shop at Costco
DON’T have much non-bonus spend

GET THE CHASE FREEDOM UNLIMITED if you:
DO want 1 credit card
DON’T want cell phone insurance
DO shop at Costco
DO have a lot of non-bonus spend

The ‘value’ answer…

GET BOTH!

The credit card points you earn from both will be pooled together!

NOW FOR SOME FAQs…

1. Can I have 2 Chase Freedom Flex credit cards at the same time?
No. (Unclear if Chase will also block the downgrade route.)

2. Can I have Chase Freedom (old) + Chase Freedom Flex (new)?
Yes.

3. Can I have the Chase Freedom Unlimited and the Chase Freedom Flex (new) at the same time?
Yes, you can have both.

4. I already have the Chase Freedom Unlimited. Will I get the new benefits?
Yes, you’ll automatically get the new 5%/3%/3% categories starting 9/15/2020. No need to call in.

5. I already have the Chase Freedom. Can I keep it as is?
Yes, you can keep your current Chase Freedom card as a Visa without changing to the new ‘Flex’ Mastercard (at least for now).

6. Are these considered NEW credit cards?
The Chase Freedom Flex is a NEW credit card. The Chase Freedom Unlimited is a revamp.

Lastly...

Both credit cards have foreign transaction fees of 3%. So YES, it may be wise to book travel on these cards via the Chase Ultimate Rewards Travel Portal, but it’s better to use the Chase Sapphire Preferred or Chase Sapphire Reserve cards for your purchases if you’re traveling internationally.

Both credit cards are subject to the Chase 5/24 Rule. This means Chase will not approve you for them if you’ve opened 5 or more credit cards with any bank (and that show up on your credit report) in the past 24 months.

Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.

#creditcards #chasefreedomflex #cashback