Rumor has it that there’s allegedly a new Chase product coming next month, The Chase Freedom Unlimited, that will replace the existing product that we know (and I love) today.
This is what it will supposedly look like:
The improvement is that there will be the ability to earn 1.5% cash back on every purchase, but notice how there’s no mention of the 5x rotating quarterly bonus categories, a feature that I consider to be the absolute most valuable component to the card (last quarter you even had the ability to earn 22,500 bonus points at Amazon.com!)
What’s also uncertain is that there’s no guarantee that the new product will offer “cash back” in the form of Ultimate Rewards points that can be combined with the amazing and flexible Ultimate Rewards points from the Sapphire Preferred and Ink products (learn more about the “trifecta” here).
Strong rumors say that this product will be replaced immediately in all Chase branches by March.
What will happen to existing customers?
The good news is that I’m told existing customers who have the old Freedom card will stay in the existing product (whew, a card I will keep forever).
The bad news is that while the new Freedom Unlimited card appears to be an better “everyday” cash back card than it already is (1.5x vs 1x), the removal of the 5x option really hurts our ability to work towards free travel.
Pat yourself on the back if you have the original Freedom card. If not, it is highly recommended that you consider getting the no-annual fee card that offers 5x on rotating quarterly bonus categories.
- Rumor says that the existing Chase Freedom will soon be replaced by a new Chase Freedom Unlimited product in Chase branches.
- Rumor says it that this will occur sometime in March.
- Rumor says that existing Freedom cardholders have nothing to worry about.
- Angelina says that the existing Freedom is a better fit for miles and points hobbyists, so…
What are your thoughts?