![]() ![]() ![]() ![]() What you can do is downgrade your original Chase Sapphire Reserve® to one of the Freedom cards, then apply for the Chase Sapphire Preferred with its lower $95 annual fee and keep the option to transfer points to hotels and airlines whenever you’re ready to travel again-assuming you meet the application requirements. These rotating categories include a lot of everyday spending buckets like groceries, streaming services, gas and more. However, you’ll also lose the ability to transfer points to travel partners. On the rewards front, the Chase Freedom Flex offers 5 cash back on the first 1,500 spent each quarter in categories that change every three months (you need to activate the offer to get it). You can downgrade the premium card to one of these no-fee cards and keep your rewards from expiring. Current Chase Freedom cardholders still get 5 back in rotating bonus categories they activate each quarter, on up to 1,500 in combined quarterly spending. However, because your first five card slots are limited-and there are more valuable card offers-the Chase Freedom Flex℠ and the Chase Freedom Unlimited® credit cards work best as downgrade cards.įor example, you’ve held the Chase Sapphire Reserve® card for the last four years and wish to avoid paying the $550 annual fee, especially when travel is on hold and the benefits go unused. Most people use this as a cashback card, meaning the 5x points really translates into 5 cashback in these categories. It’s certainly possible to open both cards as long as you’re under 5/24 and follow Chase’s welcome bonus and application rules. The Chase Freedom Flex Card is easily one of the best no annual fee cards out there, as it offers 5x points in rotating quarterly categories, for up to 1,500 of spending per quarter. The question is, which one is right for you? However, when held in combination with another Ultimate Rewards-earning credit card, such as the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®, rewards can be turned into valuable points and transferred to Chase’s travel partners, including Southwest Rapid Rewards and World of Hyatt.Įither of the cards can be used as an auxiliary method of earning Ultimate Rewards. When held on their own, both of these cards offer cash rewards equal to 1 cent per point. Chase offers a couple of cashback cards that are worth discussing-the Chase Freedom Flex℠ and the Chase Freedom Unlimited®. However, not all cashback cards are created equal. Granted, the Freedom Unlimited imposes a longer time commitment and higher eventual spending requirement, but the 1.5 percent rewards rate boost can be one of the most lucrative first-year offers. In most cases, their rewards aren’t worth a lot when redeemed for cash back, and there’s rarely an opportunity to increase their worth. When we talk about earning travel rewards, cashback credit cards are rarely mentioned. Note: Some of the offers mentioned below may have changed or are no longer be available. Chase Freedom Unlimited cashback rewards spending categories. ![]()
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