Don’t you just hate when there are multiple cards in the same credit card family, and because of how closely they are named, you don’t know which card is which? Take for instance, the Marriott Bonvoy cards or even the Hilton cards. Even me, as a credit card blogger, can get them confused sometime, and I’ll usually have to double check to make sure I’m referring to the correct card all of the time!
Well, Chase had their own version of confusion going on with the Freedom and Freedom Unlimited. While those cards are (in my opinion) easier to discern, Chase wanted to make it even more clear which card is which.
The original Freedom card form Chase will now be known as the Freedom Flex card! But the name change isn’t all that’s coming. Below is a list of changes that are in store for this card.
- The Freedom Flex will change networks from Visa over to Mastercard
- Every Mastercard benefit such as cell phone insurance will be active on this card
- The 5% rotating categories are staying, however, there will be permanent ones as well. 3% Back on drugstores and dining
- 5% cashback on travel purchased through Chase Ultimate Rewards
- 5% on Lyft through March 2022
But that’s not all! The Freedom Unlimited will also receive the 3% on dining and drugstores, 5% back on travel purchased through Chase Ultimate Rewards, and even earn 5% back on Lyft through March 2022.
The card will be available September 14th. If you currently hold a Freedom card, you have the option to change over to the Freedom Flex or keep it as is. If you do keep it as is, you have the opportunity to pick up both cards if you sign up for the Freedom Flex, assuming you have not received the sign up bonus for the Freedom in the last 2 years.
What a way to rename your card! I think they’ve absolutely exceeded expectations here! There was no way I was expecting a renaming of a card to do all of these things.
What is the most interesting thing for me here is the addition of 3% on dining on both Freedom cards. That really undermines both the Sapphire Preferred at 2x and the Sapphire Reserve at 3x. Both of the Sapphire cards have annual fees, whereas the Freedom cards do not. I’m curious to see if Chase will ramp up the point earning on these cards to make up for increase in the Freedom cards.
The $450-$550 annual fee on my Sapphire Reserve is definitely looking a whole lot less appealing now. I’ll probably renew it one more year at the lower $450 price as I still get value from the card. However, if Chase doesn’t update this card, I’m not sure I’ll be able to justify it for myself moving forward. Maybe a 4x for the Sapphire Preferred and 5x for the Reserve? Or will Chase go the route of American Express and change the cards in a way where you want to hold both Sapphires? Time will only tell, but lets hope the revamps will be as surprising as the Freedom ones!
What do you think about these changes? Are you looking to cancel your Sapphire cards? If you haven’t had them before, are you looking at picking up a Freedom card now? Let us know down in the comment section below!