For years, the legacy Chase Freedom card was a staple of many wallets. But for those traveling abroad or looking to maximize rewards, it may be time to consider a change to the newer Freedom Flex.
For nearly a decade, the legacy Chase Freedom card sat in many wallets as a reliable, no-annual-fee workhorse. With its 5% rotating bonus categories on up to $1,500 in spending each quarter, it served a clear purpose. But as banking habits change and international travel becomes more common. that older card is increasingly hitting a wall—specifically. a 3% foreign transaction fee.
Moving abroad to Spain brought this limitation into sharp focus. A 5% reward rate is rendered practically moot when you are immediately paying a 3% surcharge on every international purchase. from groceries in Spain to rental cars in France. While the legacy Freedom has remained a favorite since its 2017 peak. it was discontinued for new applicants in late 2020 when the Chase Freedom Flex launched. For those still holding the original, the math has begun to shift.
The decision to switch to the Freedom Flex—a process that takes just a 10-minute phone call—rests on two primary factors: the elimination of foreign transaction fees and the occasional appearance of elevated earning rates. For example. the Freedom Flex recently offered a 7% return on dining. a significant bump over the standard 5% found on the legacy version. By prioritizing dining and groceries within the $1. 500 quarterly limit. users can stretch their earnings further. especially those who hold premium cards like the Chase Sapphire Preferred to convert cash back into transferable Ultimate Rewards points.
However, there are trade-offs to consider. The Freedom Flex is a Mastercard. meaning it lacks the Visa network utility of the legacy card. which some cardholders still use at Costco—though the wholesale club has not been a rotating bonus category for three years. Additionally, product-changing means forfeiting the Freedom Flex’s current welcome bonus: $250 cash back after spending $500 in the first three months. For those under Chase’s 5/24 limit. applying for the card as a new account is almost certainly more lucrative than a conversion.
There is also the option of the ‘both’ strategy. favored by some editors who maintain both cards to double their quarterly spending capacity. By using the legacy Freedom for grocery rewards and the Freedom Flex for dining. a user can maximize up to $3. 000 in combined spending. yielding as much as $180 in cash back or 18. 000 transferable points per quarter.
Whether you switch or stay depends entirely on your geography and your financial strategy. If you travel internationally, the move to the Freedom Flex is a clear upgrade. If you are a domestic spender under the 5/24 limit. the sign-up bonus is a compelling reason to apply for a new account rather than swapping your existing one. Ultimately, the best card in your wallet is the one that actually pays you to use it.
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