Finance

Can You Have 2 Chase Freedom Credit Cards?

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Chase organizes its bank cards into completely different “households” based mostly on what the cardboard provides. Journey and eating playing cards are branded with a Sapphire title. Small enterprise playing cards are Ink-branded. And Chase’s cashback-focused bank cards are branded as Chase Freedom bank cards.

Chase presently provides three kinds of Chase Freedom bank cards to new cardholders: Chase Freedom Flex℠, Chase Freedom Limitless® and Chase Freedom® Scholar bank card. The fourth member of the Freedom household is not obtainable to new cardholders: Chase Freedom®.

Every of those 4 no-annual-fee Freedom-branded playing cards provides a singular set of incomes alternatives and advantages. So, chances are you’ll be questioning if you will get multiple Chase Freedom card. The brief reply is sure, it is doable to carry two Freedom playing cards directly, however there are some limitations. Let’s check out Chase’s insurance policies and methods for maximizing Chase Freedom bank cards.

Chase Freedom bank cards presently obtainable

Chase provides three sorts of Freedom-branded playing cards to new cardholders. Listed below are the presently obtainable Chase Freedom bank cards and the present sign-up bonus for every:

Along with strong sign-up bonuses, Chase Freedom bank cards additionally supply a good way to earn money again on quite a lot of on a regular basis purchases. Nevertheless, the incomes charges fluctuate by kind of Freedom card. This is an outline:

  • Chase Freedom Flex℠: Earn 5% money again on as much as $1,500 on mixed purchases in bonus classes every quarter you activate. Earn 5% money again on journey bought via Chase, 3% on eating, together with takeout, and drugstores, and 1% on all different purchases.

  • Chase Freedom Limitless®: Earn 5% money again on journey bought via Chase, 3% on eating, together with takeout, and drugstores, and 1.5% on all different purchases.

  • Chase Freedom® Scholar bank card: Earn 1% money again on all purchases.

As you possibly can see, the incomes charges cross over a bit on the Chase Freedom Flex℠ and the Chase Freedom Limitless®. Nevertheless, these playing cards can complement one another in different methods. By getting each kinds of Freedom playing cards, you possibly can earn:

  • 5% cashback on as much as $1,500 in purchases every quarter in a rotating class utilizing the Chase Freedom Flex℠.

  • 5% on journey bought via Chase on both card.

  • 3% on eating and drugstores utilizing both card.

  • 1.5% cashback on all different purchases utilizing the Chase Freedom Limitless®.

Maybe better of all, not one of the Chase Freedom bank cards costs an annual charge. Meaning you possibly can earn as much as 5% money again with out paying a greenback in annual charges.

Of the three Freedom playing cards presently obtainable, the Chase Freedom® Scholar bank card provides the bottom incomes charges. Nevertheless, because the title implies, this card is designed for college students simply beginning to construct their credit score.

Understanding Chase financial institution’s bank card guidelines

Maybe the largest barrier to getting a Chase Freedom bank card is Chase’s 5/24 Rule. This unpublished however well-known rule holds that Chase will not approve you for a brand new bank card when you have opened 5 or extra bank cards from any card issuer up to now 24 months.

When determining your 5/24 standing, you possibly can’t simply depend bank cards that you simply opened. Approved person accounts additionally depend towards your standing if the account has been opened inside 24 months. Nevertheless, the excellent news for small-business house owners is that the majority small-business bank cards do not add to your “5/24” depend.

Nerdy tip: If licensed person accounts are pushing you over 5/24, name Chase’s reconsideration line. You possibly can ask the agent to manually rethink your software with out the licensed person accounts.

For those who’re near exceeding 5/24, chances are you’ll wish to contemplate whether or not it is higher to get a unique Chase bank card as an alternative of a Chase Freedom bank card.

Guidelines on incomes a Chase Freedom bank card sign-up bonus

Along with Chase’s 5/24 rule, Chase locations restrictions on who can open a brand new Chase Freedom bank card account. You possibly can’t open a brand new Chase Freedom bank card in the event you’re:

  • A present cardholder of the identical kind of card.

  • A earlier cardholder who earned a brand new cardmember bonus up to now 24 months.

Meaning Chase will deny you for a brand new Chase Freedom Flex℠ account in the event you presently have a Chase Freedom Flex℠ or in the event you’ve earned a cardmember bonus on the Chase Freedom Flex℠ up to now 24 months. Nevertheless, Chase will not stop you from getting each the Chase Freedom Limitless® and the Chase Freedom Flex℠ — so long as you meet the eligibility necessities for the ​​new Freedom account.

What number of Chase Freedom bank cards can I’ve?

Chase would not limit what number of kinds of Chase Freedom bank cards you possibly can have. For those who keep away from exceeding the Chase’s 5/24 restriction, you possibly can conceivably open all three kinds of presently obtainable Chase Freedom bank cards and earn a sign-up bonus on every one.

As well as, you may convert an present Chase card to a Chase Freedom® (which is not obtainable to new cardholders) to finish your Chase Freedom portfolio.

This may be helpful in the event you’re restricted by the $1,500 quarterly bonus spending restrict on the Chase Freedom Flex℠. The Chase Freedom® provides the identical 5% cashback on as much as $1,500 in purchases every quarter in a bonus class. So, by changing one other Chase card to the Chase Freedom®, you possibly can successfully double your potential 5% cashback earnings within the quarterly bonus class.

Superior factors and miles collectors might even get a number of accounts of the identical Chase Freedom bank card (i.e., two Chase Freedom Flex℠ playing cards). Whereas Chase limits you from opening a second Chase Freedom Flex℠ card if you have already got one, Chase will not stop you from changing one other present account to a Chase Freedom Flex℠ card if you have already got one.

For those who’re eager about getting a second Chase Freedom bank card

If you have already got a Chase Freedom bank card, otherwise you’re merely on the lookout for methods to maximise your money again earnings, choosing two Chase Freedom playing cards will help you optimize your returns.

For those who’re undecided if the Chase Freedom is best for you, contemplate your greatest spending classes. In the event that they’re on issues like groceries and gasoline, having the quarterly bonus from the Chase Freedom Flex℠ may be useful. Nevertheless, in the event you spend some huge cash on journey, chances are you’ll get extra worth from a travel-specific card that provides you entry to the Chase Final Rewards® portal.

Learn how to maximize your rewards

You need a journey bank card that prioritizes what’s essential to you. Listed below are our picks for the finest journey bank cards of 2022, together with these finest for:

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