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Chase has a brand new card, the Chase Freedom FlexSM, and it earns 5% cash back on up to $1500 in eligible combined purchases in rotating categories, 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1% on all other purchases.
There’s an initial offer to earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
There are two things notable up front about this card,
- While these points do not transfer directly to airline or hotel programs, you can combine them into a Sapphire Preferred or Sapphire Reserve account, and from there to participating airline or hotel loyalty programs. I love earning 5 points per dollar spent in several categories that I’m able to move to United, Singapore, or Hyatt along with other Chase partners.
- It’s a Mastercard. Chase has a really lucrative deal with Visa, and almost exclusively issues Visa products. The only other Mastercard from Chase I’m aware of is the IHG® Rewards Club Premier Credit Card. As a Mastercard it offers some benefits that are unique among Chase cards.
While many issuers have been removing secondary benefits from cards, this new Chase Freedom FlexSM comes with (secondary) rental car collision and trip cancellation.
It has extended Warranty coverage, extending the time period of a U.S. manufacturer’s warranty by an additional year, on eligible purchases that come with warranties of three years or less. There’s also damage and theft Protection, and cell phone protection of up to $800 per claim and $1000 and two claims per year with a $50 deductible (when you pay your monthly bill with the card). There are also Lyft, Boxed, Shoprunner and Fandango benefits from this Mastercard.
This card pairs nicely with a Chase Sapphire Reserve® or Chase Sapphire Preferred® Card because you can take 5 points per dollar earning on eligible spend, move those points over to the Sapphire Reserve or Preferred account, and the points become more valuable because they transfer to airline miles or hotel points (or you can use them towards the Sapphire Reserve/Preferred’s ‘Pay Yourself Back’ feature for statement credits against eligible spend). Of course Chase’s 5/24 applies, you can only get approved if you’ve had fewer than 5 new cards in the last 24 months.