If you’re looking for a way to get a big boost in Ultimate Rewards, we’ve got great news for Chase members: both Chase Freedom Flex℠ and Chase Freedom Unlimited offer a big cash bonus at a low spending threshold.
Chase Freedom Flex can earn you a $200 bonus if you spend $500 within the first three months. Chase Freedom Unlimited is currently offering an additional 1.5% cash back on all purchases (up to $20,000 spent in the first year), giving new cardholders the opportunity to earn $300 in cash.
However, since these two cards are cashback cards issued by Chase, how do you choose which one is best for you?
What is the best Chase Freedom card for the first year?
It largely depends on your spending habits. Even though these two cards have specific earning categories, they still have different reward structures.
Freedom Unlimited offers a flat rate of 1.5% cash back on purchases outside of the bonus categories. In addition, in the first year of using the card, you will receive an additional 1.5% cashback on all purchases, including those in bonus categories.
This means you can get 6.5% cash back on travel purchased through Chase Ultimate Rewards, 4.5% on pharmacy and restaurant purchases, and 3% on everything else (on purchases up to $20,000 in First year).
The Freedom Flex Card offers 5% cashback in rotating bonus tiers that you must redeem every quarter (on purchases up to $1,500, then 1% cash back). You will also receive $200 if you spend $500 in the first three months with the card.
For many cardholders, the Chase Freedom Flex card should be more valuable if you maximize your spend in the quarterly bonus categories. However, if you can’t max out the Freedom bonus tiers, the Freedom Unlimited card might be a better choice due to its higher reward rate on regular purchases.
Comparison of Chase Freedom Flex and Freedom Unlimited cards
|
Chase Freedom Flex |
The pursuit of unlimited freedom |
|
|---|---|---|
| Interest rate |
|
|
| Annual fee | $0 | $0 |
| Opening proposal |
|
|
| Estimated cost in the first year ($15,900 per year) | $761 | $666 |
Of course, there is nothing stopping you from applying for both cards and potentially earning bonuses for signing up for both cards. The Chase Freedom Flex and Freedom Unlimited cards go great together – you can use the Chase Freedom Flex card to get 5% cashback on quarterly bonuses and the Chase Freedom Unlimited card to get 1.5% cashback on everything else. Then use any card at pharmacies and restaurants, and for travel purchases on the Ultimate Rewards portal.
Recent Changes to the Chase Freedom Card Signup Bonus
While some bonus cards frequently update their signup bonuses, the offers on Chase Freedom cards are pretty consistent. However, we’ve seen an increase in welcome offers lately, with both cards adding higher-than-usual cashback rates in addition to their familiar $200 flat cash bonus.
| Chase Freedom Flex Recent Map Changes | |
|---|---|
| Current | $200 if you spend $500 in the first 3 months |
| Previous | $200 if you spend $500 in the first 3 months, plus 5% cashback on grocery purchases in the first year (up to $12,000, not including Target or Walmart purchases) |
| Previous | $200 if you spend $500 in the first 3 months |
| Previous | $200 if you spend $500 in the first 3 months, plus 5% cashback on grocery purchases in the first year (up to $12,000, not including Target or Walmart purchases) |
| Recent Map Changes for Chase Freedom Unlimited | |
|---|---|
| Current | Additional 1.5% on all purchases (up to $20,000) |
| Previous | $200 if you spend $500 in the first 3 months, plus 5% cashback on grocery purchases in the first year (up to $12,000, not including Target or Walmart purchases) |
| Previous | $200 if you spend $500 in the first 3 months |
| Previous | $200 if you spend $500 in the first 3 months, plus 5% cashback on grocery purchases in the first year (up to $12,000, not including Target or Walmart purchases) |
| Previous | $150 if you spend $500 in the first 3 months |
Who is eligible to apply for a signup bonus?
New cardholders who have not received a signup bonus on the same card in the past 24 months are eligible to receive a bonus with Chase Freedom cards. Of course, you must first qualify for the cards, which means you’ll need a credit score ranging from good to excellent (at least 670).
Chase doesn’t seem to have a hard limit on the number of cards you have, although it may reject your application if you have too much of a credit limit on your other Chase cards. Also, while there is no strict rule as to how many Chase cards you can apply for in a given period of time, many applicants report a limit of one to two new cards per month.
Chase recently cracked down on applicants who opened multiple credit cards at once. While this is not an official policy, Chase appears to be enforcing a “5/24” rule for new credit card applications. If you have opened at least five credit card accounts from any issuer (not just Chase) in the last 24 months, your application will most likely be rejected. The rule appears to apply to any credit card account that appears on your credit report, including co-branded store cards and authorized user accounts. (On the other hand, corporate credit cards that aren’t listed on your personal credit report don’t affect your chances of getting approved.)
Best Ways to Spend 20,000 Ultimate Rewards Points
Chase Freedom Flex and Chase Freedom Unlimited cards offer a wide range of options for redeeming or transferring your points. You can use points as statement credits, as direct bank deposits, for gift cards or travel, or to purchase items through Amazon.com or the Chase Pay app.
As money back cards, Chase Freedom cards offer a fixed cost of 1 cent for most repayment options. However, there are several options that should be avoided. The table below shows that purchases on Amazon.com and Chase Pay are worth as little as 0.8 cents per point:
Chase Freedom card redemption options
| Repayment option | Point value (cents) | Cost 20,000 points |
|---|---|---|
| Loan Application | one | 200 dollars |
| Direct deposit | one | 200 dollars |
| Gift cards | one | 200 dollars |
| Journey of the Ultimate Rewards Portal | one | 200 dollars |
| Shopping on Amazon.com | 0.8 | $160 |
| shopping rush | 0.8 | $160 |
You can also transfer points from Chase Freedom cards to certain Chase Ultimate Rewards cards, such as the Chase Sapphire Preferred Card and Chase Sapphire Reserve Card. As you can see from the table below, transferring points to one of these cards will allow you to get more from the signup bonus. You get a 25 to 50 percent bonus on your points when you redeem them for travel through the Chase Ultimate Rewards portal, depending on which card you have.
In addition, both Sapphire cards allow you to transfer your points 1:1 to one of Chase’s many travel partners to earn even higher value for your points. For example, we value Southwest Rapid Rewards points at an average of 1.5 cents according to the Bankrate (note that the value can vary greatly depending on the ticket you purchase), which means that a 20,000 point bonus can earn you an average $300 when used. for Southwest airfare.
Chase Sapphire card redemption options
| Repayment option | Point value (cents)* | Cost 20,000 points |
|---|---|---|
| Chase Sapphire Reserve – 50% Redemption Bonus | 1.5 | 300 dollars |
| Chase Sapphire Preferred – 25% Redemption Bonus | 1.25 | $250 |
| Singapore Airlines Transfer | 2.2 | $440 |
| British Airways Transfer | 0.7 | $140 |
| Southwestern Airlines Transfer | 1.5 | 300 dollars |
| Jet Blue Transfer | 1.4 | $280 |
| Transfer United Airlines | 1.1 | $220 |
| World Hyatt | 2.1 | $420 |
| Air France Transfer | 1.2 | $240 |
| Transfer Virgin Atlantic | 2.6 | $520 |
| Marriott Premium Transfer | 0.7 | $140 |
| IHG transfer | 0.7 | $140 |
*Based on scores and Bankrate Miles.
In addition to the registration bonus, Chase Freedom cards offer a referral bonus of up to $500 each year. Chase’s Refer a Friend Program returns Freedom Cardholders $100 in cash for every person they refer and who is approved for a Freedom Card, up to five people per year.
To participate in the promotion, please enter your last name, zip code and the last four digits of your credit card on the Chase Refer-a-Friend page. On the next page, enter the name and email address of each person you want to invite. You also have the option to post an invite link on Facebook or Twitter, or invite friends through the Chase app.
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