Chase Freedom Flex vs. Chase Freedom Unlimited | Which Card is Best?

Chase Freedom Flex vs. Chase Freedom Unlimited:

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Alright so first of all let's clarify what the many different options are because I know it can get a little confusing when trying to decide which card is best for you but I promise it is not as complicated as it seems there's just been a lot of changes to the chase credit cards recently. First, we have the old chase freedom card is gone and is no longer an option for new cardmembers. So just forget about it it's gone don't worry about it and that has been replaced by the new chase freedom flex. On top of that, chase offers a similar card with slightly different benefits called the chase freedom unlimited which also recently received some fantastic upgrades but the name of the card has not changed so in a nutshell we have the chase freedom flex and the chase freedom unlimited and that's all you have to worry about.

Right off the bat, both cards are going to offer you a $200 bonus when you spend $500 in the first three months of having that card. Now depending on your stance on credit cards, you might think this is absolutely ridiculous because why would you spend $500 in order to get $200 and you're correct, kind of. If you're going to get either of these cards I think it should go without saying that you should absolutely not force yourself to spend $500 just so you can get that $200 bonus. Just make sure that you're spending this money on stuff that you would have already bought anyways and you'll get $200 back for free. So outside of that great sign up bonus, both cards are also going to offer you 5% cash back on travel purchases through the chase ultimate rewards program, 5% back on grocery store purchases for the first year on up to $12,000, 3% cash back at restaurants, and 3% cash back on all drugstore purchases. And keep in mind that both of these cards offer all of that with absolutely no annual fee meaning you're paying nothing to get the card.

Now let's look at the added benefits of the chase freedom flex which remember is the one that replaced the regular chase freedom card that is now gone off the table don't worry about it and the flex is the brand new card from Chase. So with the chase freedom flex card, you can have all those benefits that we just talked about and you’ll also earn 5% cashback on various rolling categories. These 5% categories change each quarter so every three months with quarter one being gas stations quarter to be in grocery stores quarter 3 being Amazon.com and quarter 4 being Walmart and PayPal. So, on these 5% categories, you can earn that cash back on up to $1500 each quarter which if you take full advantage of this would end up being $75 per quarter or $300 in cash back at the end of the year plus all those other benefits that we talked about earlier and you're going to get 1% cash back on all other purchases.

Okay so now let's move on to the chase freedom unlimited. So again, you're going to have all those benefits that we talked about at the beginning of the video that are offered by both cards however with the chase freedom unlimited and the place that these cards really very drastically, you're not going to have those rolling 5% categories. However, you are going to earn 1.5% cashback on all other purchases and well….that's it! Now you might be thinking well why would I give up those awesome 5% categories just to get half a percent more on my other purchases and that's a great question and that's where we get into the discussion on which card is best for you.

So at the end of the day, these cards are very similar however in my personal opinion, I would go with the chase freedom unlimited card. I understand that you're giving up those 5% rolling categories but again those are capped at $1500 in purchases whereas that extra half percentage point could mean a lot of extra cash back.

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I am not a Certified Financial Planner®. The topics presented in this video are for entertainment purposes only. You, and you alone, are responsible for the financial decisions that you make.

Видео Chase Freedom Flex vs. Chase Freedom Unlimited | Which Card is Best? канала Magnified Money