Chase Showing Off Its Muscles With The New Freedom Flex

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Chase Showing Off Its Muscles With The New Freedom Flex

The Chase Freedom cards have long been some of the most popular no-fee cards and currently also have a great welcome offer and some added benefits. So we didn’t really expect that Chase would make them even better. But the issuer has done just that, with a new product that will be launched next month. It is called the Chase Freedom Flex, and yes, that is a Mastercard logo on the lower right corner.

Today Chase unveils the Freedom Flex credit card as well as new cash back offerings for Freedom Unlimited, both available starting September 15, 2020. The new card will be similar to the Chase Freedom, which is likely going away. It will have the same big welcome bonus, rotating 5% cash back bonus categories and much more.

Chase Freedom Flex

This new Chase products is not live yet. It will become available for applications on September 15. Chase Freedom Flex is expected to replace the Chase Freedom, but it is a much better card, with the added Mastercard World Elite Benefits and increased earning on select popular categories. And no, there is no annual fee for the Freedom Flex.

Welcome Bonus

  • New Freedom Flex cardmembers will receive $200 cash back after spending $500 on purchases in the first three months
  • Plus earn 5% cash back on grocery store purchases for the first year (on up to $12,000).

There is no application link yet.

Earning Structure

Cardmembers earn cash back on:

  • 5% on Bonus Quarterly Categories – Each quarter they activate, cardmembers will receive 5% cash back on up to $1,500 in combined purchases on bonus categories such as grocery stores, select streaming services and many others.
  • 5% on Travel purchased through Chase Ultimate Rewards, including vacation and car rentals.
  • 3% on Dining purchases, including take out or eligible delivery services.
  • 3% on Drugstore purchases on daily essentials like medicine, toiletries, diapers and other items.
  • 1% unlimited cash back on all other purchases.

Mastercard World Elite Benefits

Freedom Flex cardmembers will receive Mastercard’s leading World Elite Benefits including:

  • Cell Phone Insurance – Up to $800 per claim and $1,000 per year in cell phone protection against theft or damage for phones listed on cardmembers’ monthly bill.
  • Lyft – $10 in credit for every five rides taken in a calendar month, automatically applied to the next ride and capped at 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, which can be used towards purchasing movie tickets on Fandango or towards streaming movies and TV shows on FandangoNOW.
  • Priceless Experiences, offering activities both digitally and in the cities where they are.

Previously Announced Benefits

Flex and Unlimited cardmembers also receive previously announced benefits with Lyft and DoorDash:

  • 5% total cash back on all Lyft rides through March 2022.
  • In addition to earning 3% on all dining purchases, cardmembers can activate and receive complimentary DoorDash DashPass for the first three months, followed by a 50% discount price at the current rate for the next nine months.

Freedom Unlimited Improvements

The announcement includes some great news for current Chase Freedom Unlimited cardholders, or even those who were thinking of getting the card. Starting September 15, 2020, the card will have these extra earning opportunities:

  • 5% on Travel purchased through Chase Ultimate Rewards, including vacation and car rentals.
  • 3% on Dining purchases, including take out or eligible delivery services.
  • 3% on Drugstore purchases on daily essentials like medicine, toiletries, diapers and other items.

There is no activation required for these new categories. They will become a standard benefit on the Chase Freedom Unlimited card.

Application Rules

Chase cards are subject to the Chase 5/24 rules. So not everyone will be eligible to get the new card once it becomes available. Additionally, this product is not available to either (i) current cardmembers of this credit card, or (ii) previous cardmembers of this credit card who received a new cardmember bonus for this credit card within the last 24 months.

TPG reports that the new Freedom Flex is considered the same product as the current Chase Freedom. So if you have rceently received a bonus for that card, you are not eligible for the welcome bonus on the new Freedom Flex card. However, you will be able to call in for a product change to Flex instead.

Freedom Flex and Freedom Unlimited cards are considered different products, as far as welcome bonuses go.

Conclusion

This was unexpected. First the Chase Freedom Unlimited gets an upgrade with new categories. Cardmembers can earn 5% on travel purchased through Chase Ultimate Rewards and 3% on dining and drugstore purchases. That is impressive for a no-fee card that also comes with a big welcome bonus.

Then there’s the announcement of the new Chase Freedom Flex Mastercard. Chase Freedom was already a great card thanks to its popular rotating 5% categories. It will probably go away once the new card is launched, but there’s no reason to be sad about it. Chase Freedom Flex has the 5% earning on Bonus Quarterly Categories and much more. You will get 5% on travel purchased through Chase Ultimate Rewards and 3% on dining and drugstore purchases. And then there’s the welcome bonus. $200 cash and 5% cash back on grocery store purchases for the first year (on up to $12,000).

I haven’t been this excited for a no-fee card in a long time. Let us know what you think about this new Chase product.

DDG
Based in NYC. Points/miles enthusiast for years and actively writing about it for the last two years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

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15 COMMENTS

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15 COMMENTS

  1. Is there any chance of taking Chase into honoring the 5% cash back on $12k in groceries on a Flex card that’s you product change in to?

  2. Sorry to burst everyone’s bubble but don’t rejoice too much too soon. What Chase giveth, Chase taketh away. Could be the first shot at taking transfers away from no AF cards to premium cards. Just sayin’.

  3. I could be wrong and just my 2 cents, but I believe the sentence “And no, there is no annual fee for the Freedom Flex.” should read “And yes, there is no annual fee for the Freedom Flex”. Double negative “no and no fee” equals there is a fee

  4. With 3% on dining and 5% on travel, doesn’t this largely make the sapphire reserve and its annual fee obsolete?

    • You still need a premium card for transfer partners. And the 5% is only through the portal but it will have some people reconsider for sure.

  5. So, if a current Chase Freedom card holder who has had her/his card for more than 2 years cancels her/his card now, will s/he be able to get the signup bonus for the Chase Freedom Flex card in September?

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