4 reasons anyone who likes cash back should apply for the Chase Freedom card now, before it’s gone forever

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In just a few days, Chase will launch a new cash-back card called the Freedom Flex. It will offer 5% cash back on up to $1,500 spent in combined purchases on categories that change each quarter (then 1% back) plus 5% back on travel booked through Chase Ultimate Rewards, 3% back on dining, and 3% back at drugstores — all with no annual fee.

The Chase Freedom Flex is essentially a souped-up version of the existing Chase Freedom® card. Incidentally, Chase will soon close the latter card to new applicants, and it’s also bringing new bonus categories to its Chase Freedom Unlimited® card.

While there are more opportunities to earn bonus cash back with the Freedom Flex, there are a few reasons why you should consider opening the Freedom card now.

It’s your last chance to apply — forever

Once the Chase Freedom® is closed to new applicants, it’s not coming back. So your last chance to get this card and earn the sign-up bonus is fast approaching. That could be reason enough to get this card while you still can, but it gets better.

Chase Freedom®You can double up on welcome bonuses

New cardholders can get $200 back after they spend $500 in the first three months, plus 5% back on groceries on up to $12,000 spent in their first cardholder year. That’s up to $800 in cash back from the introductory offer alone.

When it launches on September 15, the Freedom Flex will have the same sign-up bonus — meaning you could earn up to $800 in cash back with this card, too. And the best part is that you can have both the Chase Freedom® and the Chase Freedom Flex; Chase considers these two separate products, so you don’t have to make a decision between the two, and neither card has an annual fee.

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Especially if you spend more than $12,000 a year on groceries — whether you have a big family or just love to cook — signing up for the Chase Freedom is a great way to get maximum cash back. You can max out the 5% cash back with the Freedom, and then apply for the Freedom Flex to get 5% back on up to another $12,000 spent on groceries in your first cardholder year. That’s up to $1,200 back on groceries between the two cards.

Get 5% back on even more spending per quarter

Like the Chase Freedom®, the Freedom Flex will earn 5% back on up to $1,500 spent per quarter in rotating bonus categories (then 1% back).

We don’t know whether the two cards will offer identical rotating bonus categories (see the calendar of bonus categories for the Chase Freedom here), but by having both cards you can boost your earning potential from up to $75 back each quarter (5% back on up $1,500 in spending) to up to $150 each quarter.

Once you hit the quarterly cap on one card, you could simply switch to the other — …read more

Source:: Business Insider

      

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