Many people buy electronics on, purchase more than $500 in groceries monthly, or have other reasons to make large category purchases in a given quarter. One factor in your decision to product change to the Chase Freedom Flex card will be how much you spend in each of these categories. Historically, the Chase Freedom bonus categories have included gas stations,, home improvement stores and wholesale clubs. Similar to the Chase Freedom card, the Chase Freedom Flex card offers rotating categories in which you earn 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores and 1% on all other purchases. How will you use the rotating category bonuses? If you are over 5/24, then your only option to get the Chase Freedom Flex card is to product change.Ī side note about 5/24: Since some small business credit cards and corporate credit cards do not report to your personal credit report, these accounts will not count against your 5/24 status for new Chase applications. If you are “under 5/24” (you have fewer than five new accounts within the previous 24 months) then you can submit an application for a new Chase Freedom Flex account. What is your 5/24 status?Ĭhase generally will not approve new credit card applications if you have five or more new credit cards reporting on your credit report within the past 24 months. While Chase recommends having good or excellent credit before applying for a Chase Freedom Flex card, one of the biggest factors in whether Chase will approve you for a new card is your 5/24 status. By applying for the Chase Freedom Flex card as a new account, you have the opportunity to earn a welcome bonus. If you have good or excellent credit, you could apply for a Chase Freedom Flex card as a new account. What are your options for new cardholder welcome bonuses?īefore considering a product change, you should be aware that a product change is not the only way to get a Chase Freedom Flex card.
How much value do you get from the Chase Freedom category bonuses?.Are you able to be approved for an additional Chase card?.What are your options for getting the Chase Freedom Flex card?.Questions to Answerīefore considering a product change to the Chase Freedom Flex, there are a number of questions you should answer including:
Many people will request a product change when they are no longer using a premium credit card enough to justify paying an annual fee or when another credit card is available that meets their needs better. When you request a product change, you often will keep your same account number and credit line, but gain the benefits of the credit card product you are changing to. What is a Product Change?Ī product change is an account conversion from one credit card product to another. These are provided as guidelines only and approval is not guaranteed. This is just one scoring method and a credit card issuer may use another method when considering your application.