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A New Chase Freedom called Chase Freedom Unlimited?

There is evidence to support the launch of a new Chase Freedom product by Chase called Chase Freedom Unlimited.  

Chase Freedom Unlimited?

The current Chase Freedom is popular for its 5x Ultimate Rewards points in rotating quarterly categories, with the ability to transfer them to travel partners if you have the Chase Sapphire Preferred.

With the new card, the bonus offer would be $150 after $500 spend in 3 months.  The speculation is that the new Chase Freedom Unlimited would give 1.5x cash back with no 5% categories.  It is also unclear if the 1.5x could be in the form of ultimate rewards points that could be transferred to travel partners with a premium card.

If the new product does indeed earn 1.5x ultimate rewards points per dollar spent, it would be a great addition to all the other cards that earn ultimate rewards points.  If you value ultimate rewards points at 2 cents a piece, this would be equivalent to a 3% rebate.  If the new card just offers 1.5% cash back, it may not be so useful, as there are a already a handful of 2% cash back cards.

If you have a current Freedom, it’s unlikely that it will be converted to the new product.   Given that the 5% categories for 2016 have already been published, it’s likely that they are here to stay.   However, Chase will likely phase out the old Freedom.

So, if you don’t currently have a Chase Freedom card, now might be a good time to get one.  Alternatively, if you were planning on downgrading from another card like the Sapphire Preferred, you may consider doing that sooner rather than later.

It will be interesting to see how the details of the new Chase Freedom Unlimited unfold.  Let’s hope the 1.5x will be in the form of transferrable ultimate rewards points.

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