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New Chase Freedom Flex World Elite Mastercard Announced

Chase has a long-standing merchant services agreement with Visa. This partnership provides Chase merchants advantages for favoring Visa credit cards. This agreement, however, is not exclusive. Chase is now launching its first Mastercard credit card in five years: the Chase Freedom Flex World Elite Mastercard.

Chase Launches First Mastercard in Five Years

The new Chase Freedom Flex World Elite Mastercard is a no-annual-fee cash back credit card that fits nicely into Chase’s existing Freedom suite of credit cards.

Launching on September 15, 2020, the Freedom Flex Mastercard features the following cash back bonuses:

  • 5% cash back on travel purchases made through the Chase Ultimate Rewards portal
  • 3% cash back on dining – including takeout and delivery
  • 3% cash back on drugstore purchases

The Chase Freedom Flex Mastercard will also offer 5% back in rotating categories. In this way, the card is like the product it will replace, the Chase Freedom, with cardholders earning 5% back on the first $1,500 for products like groceries, streaming services, and more.

The card will also provide a similar signup bonus to the Chase Freedom Unlimited. Both of those cards offer an additional $200 cash back after spending $500 on purchases within the first 90 days of account opening, and 5% back on groceries for the first year.

World Elite Mastercard Benefits

Mastercard credit cards offer different perks than Visa, with Chase Freedom Flex cardholders gaining access to exclusive protections, such as Mastercard ID Theft Protection. Other World Elite Mastercard perks include:

  • $10 off for every 5 Lyft rides taken
  • Complimentary ShopRunner membership
  • 10% discount on Onefinestay luxury property rentals
  • Mastercard World VIP Concierge
  • Up to $1,000 in cell phone protection

“Consumers’ Needs Are Changing”

Linda Kirkpatrick, president of U.S. issuers at Mastercard, hailed the new partnership, which took months of lengthy negotiations. “We worked on this a long time because putting Chase’s customer-service focus together with Mastercard benefits like Priceless Experiences will be powerful,” Kirkpatrick said in a release.

“Right now, consumers’ needs are changing; they want their loyalty to be rewarded in different ways,” Kirkpatrick continued. “People may not be flying as much, but they’re renting cars and Airbnb locations, keeping travel cards relevant,” she said.

Related Article: Chase, Discover, ABOC 5% Cash Back Calendars 2020

About: Cory
Cory Santos

Cory is BestCards.com's "Jack of all trades" and resident rewards expert, covering all facets of the points game – especially travel, hotels, and airlines. In addition to credit cards, Cory finds that jogging, cats, and memes are essential parts of a balanced day.