If you want to take advantage of new card member offers, such as the welcome bonus or intro 0% APR period, your best option is to keep the Freedom card and separately apply for the Flex or Unlimited card. After that, the ongoing fee will be either $5 or 5% of the amount of each transfer, whichever is greater. There's an intro balance transfer fee of $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. Plus, both cards offer no interest on new purchases and balance transfers for the first 15 months your account is open (after, 15.74% to 24.49% variable APR). That's 6.5% on travel purchased through Chase Ultimate Rewards®, 4.5% on dining and drugstores and 3% on all other purchases. The Freedom Unlimited is offering a bonus of an extra 1.5% on everything you buy (on up to $20,000 spent in the first year), which is worth up to $300 cash back. The Freedom Flex currently offers a welcome bonus of $200 cash back after you spend $500 on purchases in your first three months from account opening. Since a product change is not considered a new application, you’ll miss out the welcome bonus and intro 0% APR offers currently running on the Freedom Flex and Unlimited cards. The only way to get a sign-up bonus is to apply for a new card, be approved and reach certain spending requirements if there are any.
Do you want to earn a welcome bonus or take advantage of special financing? These are great rates if you’re looking for a passive rewards program that doesn’t require any activation. New Unlimited cardholders can earn an extra 1.5% on everything they buy (on up to $20,000 spent in the first year), which is worth up to $300 cash back. The Freedom Unlimited scraps the quarterly bonus categories and instead offers a more straightforward 5% cash back on travel purchased through Chase Ultimate Rewards, 3% on drugstore purchases and dining at restaurants (including takeout and eligible delivery services) and 1.5% on all other purchases. The added rewards allow you to earn more cash back with the Flex. The Freedom Flex card offers the same base rewards of 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%), but it also offers 5% cash back on travel booked through Chase Ultimate Rewards®, 3% on drugstore purchases and on dining (including takeout and eligible delivery services) and 1% cash back on all other purchases. You may still like this rewards program, but you should consider what the Flex and Unlimited cards offer.
The Chase Freedom card is known for 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%) and 1% on all other eligible purchases. Here are a few things to consider when deciding if you should keep your Freedom card or request a product change: Which card fits your spending habits?
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