Chase’s debut of the Freedom Flex card was an excellent one for consumers. Besides offering the typical rotating 5% bonus categories, the card now also earns 3x points at drugstores and on dining, which is very nice. It’s a pretty easy process to convert a Freedom to a Freedom Flex.
However, I was sitting on two Freedom cards, and I only converted one. And I’m very glad I did so. Here’s why.
No Real Need for Two Flex Cards
The new aspects of the Freedom Flex don’t warrant converting both cards to the new version. If there was a cap on the 3x earning at drugstores or on restaurant spend, then there would be an argument for this. But there is not. The additional categories and card network (Visa versus Mastercard) are the main differences. Having one card that earns uncapped 3x on drugstore spend is just as good as two.
The other aspects of the products remain identical. Both offer 5x in rotating quarterly categories on up to $1,500 in spend per quarter. There is no difference in the activation process for either card. Sure, it might seem nice to convert both to the new card, but I didn’t have an argument for it. The only argument is solidly against converting my second Freedom.
Mastercard versus Visa Matters Greatly
The new Freedom Flex card is a Mastercard while the original Freedom card is a visa. Given the acceptance of Visa and Mastercard, this doesn’t seem to be much of an issue on the surface. I’ve never been to a U.S. restaurant or drugstore that does not accept both.
But there is one place it really matters: Costco. I shop at Costco routinely, and they only accept Visa in person. Keeping one Freedom as a Visa was critical. I knew that Chase typically has warehouse clubs as one of the rotating 5x categories, and I wanted to be able to take advantage of this through Costco shopping. I typically also fuel up at Costco, and they only accept Visa at the pump as well.
What’s nice is that I can get the best of both worlds. I can shop in-person at Costco and use my Freedom (when wholesale clubs are the category, which it is currently) and I can fill up my tank before I leave the parking lot, using my Freedom again (when fuel is the category). But I can also order online with the Freedom Flex, since Costco accepts Visa, Mastercard, and Discover (but not American Express) for online purchases. Turns out that new tires will put a nice dent in the $1,500 quarterly spend cap.
Final Thoughts
The Visa versus Mastercard issue was the very first thing that came to mind when I first considered switching to the Freedom Flex. Luckily, with two Freedom cards, I didn’t have to sacrifice the additional earning at Costco for the benefits of the Flex. This is one reason I’m very much into converting old cards into fee-free Chase products once you no longer need them. Having extra Freedom cards only provides upside, and now it can in handy with the introduction of the new Freedom Flex.
Did you have any reason for keeping an “old” Freedom card instead of converting yours to the Flex?
Featured photo courtesy of Jim the photographer under CC-BY-2.0 license.
I have 2 freedom cards. I’m considering closing one so I can get a freedom flex through a new signup. For best rebate on general charges I find the Citi double cash to work pretty well, particularly in conjunction with my premiere card.
That’s the exact combo I use. But I do like getting 3x UR for dining and drugstore, and the 5x rotating. If you’re sure you can get a new Freedom Flex, that sounds like a great plan!
Any thoughts why I wouldn’t be able to get one? I’m 1/24 with good credit. I just want to make sure there’s nothing I’m overlooking.
Not an Amex fan? While I’m still breaking in my new-ish platinum card at grocery stores and gas stations, normally I use my gold Amex for 4x at supermarkets and still use it for restaurants. Sometimes I also use my Diners Club since I got in while it was open. The 3x on supermarkets and drug stores is handy to build Alaska miles, at least for now.
Nope. Since you don’t have the product and at that 5/24 status, you should be fine. I had an inkling that there may have been a “card family” restriction like the Sapphire products, but looks like no. Not sure why that came to mind.
I am an Amex fan for cheap cards. Finally picked up the personal Plat for the first time with the 100k offer plus 10x grocery. Fee always turned me off.