Two weeks ago, I blogged about big changes to the Chase Freedom card as we know it with the introduction of a new Chase Freedom product, the Chase Freedom Unlimited.
The new Chase Freedom Unlimited will earn 1.5% cash back on every purchase, but there will be no 5x rotating categories that the existing Freedom card has today.
The good news is that I am 99% certain that the 1.5% “cash back” will be 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).
If the 1.5% cash back can indeed be transferred into Ultimate Rewards points that can be further transferred to travel partners such as Hyatt, United, Southwest, British Airways, Singapore Airlines, etc., we’re talking about a card that offers lucrative ways to earn miles and points.
Here’s what I found out:
- Starting tomorrow (if your Chase branch is open), the Freedom Unlimited card will be available to apply for in the branch. If your Chase branch is not open on Sundays, you can start applying for the card bright and early in the bank Monday morning.
- The current Freedom card (with 5x categories) will no longer be available in the branch, and will only be available online.
If you’re thinking about locking in to the current Chase Freedom, it would be a good time to consider that. The 5x rotating quarterly bonus categories is 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!)
I already have the no-annual fee Chase Freedom and I don’t plan on saying goodbye to it. Since the Freedom and Freedom are considered two separate products, I will apply in person tomorrow for the Chase Freedom Unlimited card. I am crossing fingers I will get approved even though I got quite a few new credit cards this month. Hopefully I can swap out or downgrade another Chase product if it comes down to that.
What are your thoughts? Are you going to get the new Chase Freedom Unlimited card?