Chase Freedom Flex: The fee that made one traveler switch

The Points Guy reports that the legacy Chase Freedom card, no longer available to new applicants, still has an old problem: a 3% foreign transaction fee. For anyone who travels abroad, that fee eats into the 5% rotating bonus categories. The writer moved to Spain and essentially stopped using the card.

That's the kind of junk fee that drives me crazy. A 5% bonus is worthless if you give back 3% every time you swipe outside the U.S. Chase finally fixed the problem on the newer Freedom Flex card, which now has no foreign transaction fee. The Points Guy called Chase and product changed his old Freedom to the Freedom Flex in 10 minutes.

But the switch comes with trade-offs. The Freedom Flex lost its cellphone protection perk when Chase removed the foreign transaction fee, The Points Guy notes. And if you product change, you won't get the current welcome bonus ($250 back after $500 spending in 3 months). If you are under Chase's 5/24 rule, applying for a new Freedom Flex might be better.

Who should product change?

• You live abroad or travel overseas often and the 3% fee stings.
• You are over Chase's 5/24 limit and can't get a new card anyway.
• You want the elevated 7% dining bonus this quarter (activation required).

Who should think twice?

• You need a Visa card (the Freedom Flex is Mastercard; the old Freedom is Visa).
• You can maximize both cards' categories separately, as The Points Guy's editor does.
• You are under 5/24 and want the welcome bonus.

The Points Guy recommends applying for a new Freedom Flex if you are under 5/24 and want the bonus. But if you are stuck with the old card and abroad, the product change is a no-brainer. Just remember you lose cellphone protection. That's a trade-off worth knowing before you call.

• Chase
• Chase Freedom Flex
• credit cards
• foreign transaction fees
• points
• travel rewards