Big Changes Coming To The Chase Freedom and Freedom Unlimited Cards

- Aug 31, 2020 Credit Cards4 comments

The Big Redo And Editions To Chase Freedom And Chase Freedom Unlimited

 

There’s good stuff coming to the Chase Freedom cards. The changes will be going into effect on September 15, 2020. Chase Freedom will be fully revamped into a MasterCard instead of a Visa, and will get a new name, Freedom Flex! It’ll be easier to distinguish the two Freedom cards once the names aren’t as similar to each other as before. Also, coming to both the Freedom Flex and the Freedom Unlimited, are new and exciting rewards.

 

New card Freedom Flex

 

 

The Freedom Flex will be a new card product that will replace the current Chase Freedom card.

Here is the new reward structure:

  1. You will earn 5% per $1 spent on quarterly categories similar to the current Chase Freedom card.
  2. You will earn 5% per $1 spent on Lyft rides, through March 2022
  3. New! You will earn 5% per $1 spent on travel purchases through Chase Ultimate Rewards
  4. New! You will earn 3% per $1 spent on dining
  5. New! You will earn 3% per $1 spent in drug stores
  6. You will earn 1% per $1 spent on everything else

The card will be a MasterCard World Elite card so it will also come with the standard MasterCard World Elite benefits

  • Cell Phone Insurance – Pay your monthly cell phone bill with this card and be covered in case your phone is stolen, or damaged. (There is a $50 deductible on each claim. Max $800 per claim, $1,000 per year. Limit 2 claims per year).
  • Lyft –Earn a $10 credit for every five rides within a calendar month, max once per month.
  • Boxed – 5% cash rewards on Boxed purchases.
  • ShopRunner – Complimentary ShopRunner membership which includes free two-day shipping and free return shipping at many online retailers

 

New Rewards for Freedom Unlimited

 

The Freedom Unlimited will keep the same benefits but will have some new exciting extra reward categories

  1. You will earn 5% per $1 spent on Lyft rides, through March 2022
  2. New! You will earn 5% per $1 spent on travel purchases through Chase Ultimate Rewards
  3. New! You will earn 3% per $1 spent on dining
  4. New! You will earn 3% per $1 spent in drug stores
  5. You will earn unlimited 1.5% cashback per $1 spent on everything else

 

 

Answers To The Many Questions

 

Q: What is the Freedom Flex?
A: The Freedom Flex is the new name for the Chase Freedom card.

 

Q: Is the Freedom Unlimited also changing names?
A: No. The Freedom Unlimited will stay with it’s name.

 

Q: Is the Freedom Flex just a name change or will it become a different card entirely?
A: It is more than just a name change. There will be many differences from the Freedom card to the Freedom Flex.

 

Q: What is changing with the Freedom Flex that is different from the Freedom?
A:  The Freedom Flex will no longer be a Visa card. It’ll be a MasterCard. Being a MasterCard, the Freedom Flex will provide all MasterCard World Elite Benefits (listed above). Also, there will be many rewards added to the Freedom Flex which the Freedom did not have.

 

Q: Will the Freedom Unlimited also become a MasterCard?
A: No, the Freedom Unlimited will stay a Visa card.

 

Q: What is changing with the Freedom Unlimited?
A: There will be upgrades to the reward categories.

 

Q: What are the upgraded rewards?
A: Freedom Flex will get as follows:

  1. You will earn 5% per $1 spent on quarterly categories similar to the current Chase Freedom card.
  2. New! You will earn 5% per $1 spent on travel purchases through Chase Ultimate Rewards
  3. You will earn 5% per $1 spent on Lyft rides, through March 2022
  4. New! You will earn 3% per $1 spent on dining
  5. New! You will earn 3% per $1 spent in drug stores
  6. You will earn 1% per $1 spent on everything else

A: Freedom Unlimited will get as follows:

  1. New! You will earn 5% per $1 spent on travel purchases through Chase Ultimate Rewards
  2. You will earn 5% per $1 spent on Lyft rides, through March 2022
  3. New! You will earn 3% per $1 spent on dining
  4. New! You will earn 3% per $1 spent in drug stores
  5. You will earn 1.5% per $1 spent on everything else

 

 

Q: What happens if I already have the Freedom card, will it become unusable now that it’s called Freedom Flex and will I get the new rewards?
A:You can still use the Freedom card as regular. Or, you can choose to call up Chase to request a new card. You’ll then get the Freedom Flex card with all the updated rewards and changes.

 

Q: What happens if I already have the Freedom Unlimited card, will I get the new additional rewards?
A: Yes, you will automatically get the new rewards additions on September 15, 2020. You don’t have to call Chase to add it.

 

Q: Can a new customer apply for the Freedom card?
A: The Chase Freedom will not be available to new customers.

 

Q: When can a customer apply for the Freedom Flex card?
A: Application will start on September 15, 2020.

 

Q: Does the 5/24 rule apply for the Freedom Flex card?
A: Nothing is confirmed yet but it would most probably fall under the chase 5/24 rule.

 

Q: What are the bonus offers for the cards?
A: The same as before; you will earn $200 after $500 spent within the first 3 months. Plus 5% cashback on the first $12,000 you spend on groceries within the first 12 months

 

Q: Can I get the bonus offer for the Freedom Flex if I already have the Freedom card?
A: You can get the bonus offer for the Freedom Flex if you apply directly for the Freedom Flex. Keep in mind that you can’t get approved for a new Chase Freedom card if you currently have any of the Chase Freedom products.

 

Q: Will the cards have an annual fee?
A: Both cards will remain with no annual fee

 

Do you have any additional questions? Enter them in the comments and I will respond.

 

 

Was this article helpful?

Rikki Rikki is a full-time contributor for HelpMeBuild.com. She likes to think of the credit world as a place where each credit card is used to its maximum reward capabilities. Other than that, tulips and blue skies are next on the list for a lovely world.

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4 Comments

  1. Any change to the student card

    • No

  2. Will the sapphire preferred have changes as well? The freedom unlimited will now have much better rewards than the sapphire (though the sapphire still has better perks)

    • The Sapphire preferred earns 2 points on all travel purchases (not only booked through Chase Travel. But overall the Freedom Unlimited is better as fas as rewards

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