Chase has boosted the welcome offer on one of its popular no-annual-fee cards, creating an opportunity to earn $250 cash back after spending $500 in the first three months.
The offer is for the Chase Freedom Flex, while the Freedom Unlimited currently offers $200 after the same $500 spending requirement.
The bigger story, however, is what happens when these cards are paired with an eligible Chase card that unlocks transferable Ultimate Rewards points.
Here’s how they differ
• Freedom Flex: 5% on rotating categories on the first $1,500 each quarter, 5% on travel booked through Chase Travel, 3% on dining and drugstores, and 1% on everything else.
• Freedom Unlimited: 5% on Chase Travel, 3% on dining and drugstores, and 1.5% on everything else, making it simpler for everyday purchases.
Neither card charges an annual fee.
The travel-points connection
On their own, these are primarily cash-back cards. But when combined with eligible Chase cards, rewards can be converted into transferable Ultimate Rewards points and moved to airline and hotel partners.
That means the current $250 Flex bonus can become 25,000 Ultimate Rewards points, while the Unlimited bonus can become 20,000 points under the setup described by The Points Guy.
Freedom cardholders also now have access to Points Boost offers on select Chase Travel hotel bookings, potentially increasing redemption value to as much as 1.1 cents per point.
One important detail: the Freedom Unlimited charges foreign transaction fees, while the Freedom Flex recently dropped them. Chase’s application restrictions, including the 5/24 rule, should also be checked before applying.
The smarter take: The interesting part isn’t just the $250 cash bonus. For someone already building a Chase points strategy, a no-annual-fee Freedom card can also generate rewards that become much more flexible when paired with an eligible Ultimate Rewards card.