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Chase Announces New Freedom Flex℠ Card and Updates to Freedom Unlimited® and Sapphire Preferred®

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If you've considered getting a new Chase credit card, now may be the time to make your move. Chase recently introduced the new Chase Freedom Flex℠ card and announced new cash back opportunities for Chase Freedom Unlimited® cardholders.

As consumer spending habits change due to the COVID-19 pandemic, Chase and other credit card issuers have adjusted their product offerings to help consumers earn rewards during the pandemic. Americans are spending less on travel and more at supermarkets, drugstores and restaurants—and Chase's updates help new and existing cardholders maximize their earning potential in these and other areas.

If you're in the market for a new credit card, or if you currently have the Chase Freedom Unlimited®, read on to learn how Chase's announcements could impact you.

Chase Introduces the Chase Freedom Flex℠ Card

The newest addition to the Chase credit card family, the Chase Freedom Flex℠ is a Mastercard offering that provides cardholders the opportunity to earn cash back rewards across numerous spending categories. New cardholders can receive 200 cash back after using the card to make $500 in eligible purchases within their first 3 months with the card. In addition, new cardholders will get 5% cash back on grocery purchases for the first year up to $12,000 (excluding Target and Walmart purchases).

Chase Freedom Flex℠

Apply

on Chase's website

Recommended FICO® Score
Good - Exceptional

APR

14.99% - 23.74% Variable

Intro APR: 0% Intro APR on Purchases for 15 months

Rewards

5% cash back on Rotating Categories

Earn 5% cash back on eligible purchases in rotating categories, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases.

5% cash back on Travel

3% cash back on Dining

1% cash back on All other purchases

Intro Bonus: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.

Annual Fee

$0

Card Details
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1% on all other purchases.
  • No annual fee.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.

The Chase Freedom Flex℠ will be available starting September 15, 2020, and will offer the following rewards:

  • 5% cash back on up to $1,500 in combined purchases in rotating quarterly categories when you activate
  • 5% cash back on travel purchased through the Chase Ultimate Rewards portal
  • 3% cash back on dining, including eligible delivery services
  • 3% cash back at drugstores
  • 1% cash back for all other purchases

In addition to these core rewards, cardholders will also have access to the perks offered by the World Elite Mastercard® benefits program when you use the Freedom Flex℠ card, including:

  • Cellphone insurance: Get up to $800 per claim and $1,000 per year for each phone listed on the cardmember's monthly bill when they pay their bill with the eligible card. This insurance can be used to protect against theft and damage. While you can only use this benefit twice in a 12-month period, the deductible is relatively low at $50.
  • Lyft credit: Receive an automatic $10 credit on your next ride after taking five rides in a calendar month. Limit of one credit per month.
  • Free ShopRunner membership: Get free two-day shipping and returns at certain participating retailers.
  • Boxed 5% cash back: Earn 5% cash back on Boxed purchases to be used toward future purchases.
  • Fandango Double VIP+ points: Earn Double VIP+ points when you purchase movie tickets through the Fandango app or Fandango.com. VIP+ points can be used to purchase movie tickets on Fandango or for streaming using FandangoNOW.

 

Updates for Existing Chase Freedom Unlimited® Cardholders

Earlier this summer, Chase announced updated rewards earnings and an increased sign-up bonus for new Chase Freedom Unlimited® cardholders. You'll get 200 cash back after spending $500 on eligible purchases in your first 3 months with the card, and 5% cash back on grocery purchases for the first year up to $12,000 (excluding Target and Walmart purchases).

Chase Freedom Unlimited®

Apply

on Chase's website

Recommended FICO® Score
Good - Exceptional

APR

14.99% - 23.74% Variable

Intro APR: 0% Intro APR on Purchases for 15 months

Rewards

5% cash back on Travel

Earn 5% cash back on travel purchased through Chase, 3% on dining and drugstores, and 1.5% on all other purchases.

3% cash back on Dining

1.5% cash back on All Other Purchases

Intro Bonus: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.

Annual Fee

$0

Card Details
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
  • Earn unlimited 1.5% cash back on all other purchases.
  • Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1.5% on all other purchases.
  • No annual fee.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.

Starting September 15, 2020, existing cardholders will also earn the following rewards:

  • 5% cash back on travel purchased through Chase Ultimate Rewards portal
  • 3% cash back on dining, including eligible delivery services
  • 3% cash back at drugstores

The 1.5% cash back earnings on other purchases remains the same.

Chase Freedom Flex℠ and Chase Freedom Unlimited® cardholders will continue to receive the previously announced Lyft and DoorDash benefits, which include:

  • 5% cash back on Lyft rides through March 2022
  • A complimentary DoorDash DashPass for the first three months (with activation by Dec 31, 2021), followed by a 50% discount on the current rate for the following nine months

Chase Sapphire Preferred® Card Intro Bonus Increases to 80,000 Miles

Chase Sapphire Preferred® Card

Apply

on Chase's website

Recommended FICO® Score
Good - Exceptional

APR

15.99% - 22.99% Variable

Intro APR: N/A

Rewards

2X points on Dining & Travel

2X points on travel and dining at restaurants, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases worldwide.

1X points on All Other Purchases

Intro Bonus: Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®

Annual Fee

$95

Card Details
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
  • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.

One of Chase's most generous intro bonuses just got better. New Chase Sapphire Preferred® Card holders will now be eligible to receive 80,000 rewards points after spending $4,000 within 3 months of opening the account. This bonus is worth $1,000 when points are redeemed for travel through the Chase Ultimate Rewards portal. If you'd rather have the cash back, the 80,000 bonus points are worth $800 as a statement credit or cash back.

In addition to the introductory offer, cardholders will earn the following rewards for their purchases:

  • 2 rewards points per dollar spent on travel and dining purchases.
  • 1 reward point per dollar spent on everything else.
  • Earn 25% more value when redeeming points for travel purchases through the Chase Ultimate Rewards portal.
  • Earn 5 points per dollar spent on Lyft rides through March 2022.

What to Know Before Applying for a Chase Card

Chase offers some of the best rewards cards on the market, with valuable points redemptions through the Ultimate Reward portal or transfers to Chase partners. Before applying for a Chase card, however, it's important to understand where your credit stands.

Chase Freedom and Chase Sapphire cards require good to excellent credit for approval.

If you're curious what cards may be right for you based on your credit, check out the Experian CreditMatch™ tool to be paired with specialized card offers based on your FICO® Score . If your credit score could use improvement, consider signing up for Experian Boost , which gives you credit for your on-time utility, telecom and Netflix® payments.

You'll also want to be sure you haven't opened more than five credit cards in the past 24 months. Chase has a policy called the 5/24 rule that restricts consumers who have opened more than five credit card accounts in the past 24 months from being approved for a new Chase card.

To see how many credit card accounts you've opened in the past two years, check your credit reports to see what's listed there. You can get a free copy of your credit reports from Experian.

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