How Much Are Travel Points and Miles Worth in 2023? When I got my card, my score was around 640, I had a closed store card with about 4,000 on it, a house loan, and another store card with 1,200. International: +1 650-577-5294 And if you already have both of those other, older Freedom products? Use the Chase Freedom Flex for bonus category purchases, the Chase Sapphire Preferred Card for purchases such as travel not booked through the Chase travel portal and the Chase Freedom Unlimited for anything youd only get 1x rewards for on the other cards. youre thinking about signing up for an FSA during Open Season. Follow her on Twitter at @robinsaks. How to activate bonus categories every quarter Chase Freedom Flex features a set earning rate in most spending categories. That is my only item on the credit report. If you have good credit a FICO score of 690 or higher you're likely eligible. With that in mind, many families spend at least $1,500 per quarter on the bonus categories listed based on U.S. Government data. This means youll need to have opened five or fewer new cards in the past 24 months. But before you apply, consider those rotating categories, how to get the most out of your rewards and the all-important Chase 5/24 rule which limits the number of personal credit cards you can open within a two-year period. They may also look for increases in your income or assets, lowering of other monthly expenses or existing debt, or a change in your credit score. The age of your credit also has an effect on credit scoresthe age of your oldest account is an important factor, too. Credit scores and reports may let lenders like Chase know how risky it would be to lend money to a consumer. Often, card members may choose to carry both cards but choosing just one or the other is a solid option too. Best Credit Cards for International Travel, Generous welcome offer for a no-annual-fee card, Unlimited 1.5% minimum earn rate for cash back rewards, Requires a companion card to transfer points to travel partners. For example, 100,000 Chase Ultimate Rewards points would be worth $1,000 in travel if you had only the Chase Freedom Flex. PolitiFact | Medicare 'flex cards' are not as advertised Pre-qualified offers are not binding. You might be using an unsupported or outdated browser. Or perhaps Her love of travel led to a passion for credit card and loyalty rewards to subsidize trips, and she thrives on teaching others how to harness the power of credit card rewards. Weve seen plenty of people get rejected for similar cards with scores in the high 600s. Then spend strategically. Our sites will be temporarily down from 10:00 p.m., CT, on May 19, 2023 until 6:00 a.m., CT, on May 20, 2023. Card Members are responsible for the costs charged by third-party service providers. Best Balance Transfer & 0% APR Credit Cards, NerdWallets Best Credit Card Tips for June 2023, Get more smart money moves straight to your inbox. If You Have a Chase Freedom Card, Should You Apply for Flex? - CNBC As with most product changes, your account history won't be affected but unlike most product changes, you won't retain your old account number. The flex card allows seniors and their caregivers to pay for services without relying on third-party payment systems. 1. Call the number on the back of your card. Our partners compensate us. Forbes Advisor uses data from various government agencies to determine both baseline income and spending averages across various categories. Credit card issuers like Chase not only look at credit scores, but also the number of accounts youve recently opened in the last 12 to 24 months, your annual income and monthly payments like rent or other bills. Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.24% 28.99%. Enter the one-time pin that was sent via to . Since both cards offer 5% cash back on up to $1,500 . IHG Rewards Premier Credit Card: Best for hotel rewards. Here are a few things you should know before getting the. For the right cardholder th With high fees and APRs, the doesnt require a security deposit and is marketed toward those with subprime credit. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Her work has been featured in Yahoo, Nasdaq, TheStreet, International Living, the Daily Reckoning, Personal Finance and FinanceBuzz. Then applying separately for the Chase Freedom Flex would add 5% rotating bonus categories to your arsenal. Wellcare Flex Card Benefit | Wellcare Enroll or change your FSA election due to a. Enroll within 30 days following Open Season if unable to enroll during Open Season Commissions do not affect our editors' opinions or evaluations. This means that you need at least good credit to get this card. The. I just applied for this card today and got approved with WalletHub calls "Fair" credit so I don't think it's always black and white. Then applying separately for the Chase Freedom Flex would give you fixed bonus tiers dining, drugstores, and travel purchases through Chase that your Chase Freedom doesn't offer. Just be responsible with your usage and keep utilization low and you could get approved like I did! . Just be sure to activate your bonus spending categories every quarter and consider pairing it with another Chase credit card (or two) for ultimate earning and redeeming potential. earn bonus rewards on dining and travel that equal or even exceed the rates offered by either Sapphire card. If you have a Freedom-branded card and an eligible Sapphire-branded card, you can pool your points and redeem them for travel at a higher value than the normal penny apiece. This card has a tempting bonus offer for new cardmembers: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. would give you fixed bonus tiers dining, drugstores, and travel purchases through Chase that your, doesn't offer. Disclaimer: NerdWallet strives to keep its information accurate and up to date. When it comes to rewards and perks, what's more important is the issuing bank (Chase, in this case), and not the payment network the card runs on. Newest Offers (16) Opens Newest Offers page in the same window. You don't pay taxes on this money. Editorial and user-generated content is not provided, reviewed or endorsed by any company. A good credit score starts at around 670, while an excellent score typically starts at 740. Credit is typically reported by three major credit bureaus: Equifax, Experian and Transunion. He has decades of experience in digital and print media, including stints as a copy desk chief, a wire editor and a metro editor for the McClatchy newspaper chain. But should you? Find the payroll schedule that applies to you. Whats noteworthy about the rewards structure of the Freedom Flex is that it competes withand in some cases outearnstwo other Chase-branded credit cards: The ultra-premium Chase Sapphire Reserve and the midrange Chase Sapphire Preferred Card both of which carry annual fees. The scoring formula incorporates coverage options, customer experience, customizability, cost and more. The 70th percentile of wage earning-households bring in $107,908 annually and we base spending on that number. She is the creator of travel and adventure site Terradrift.com and has written about travel and rewards for many publications, including American Way and Johnny Jet. (You do this by moving points earned on your Freedom card to your Sapphire card account, and then using the points to book travel through the Chase Ultimate Rewards portal.) How to get the most out of your points, You can even book travel through Chase Ultimate Rewards, an option made even more valuable if you also have a card like the, . Thats because you can transfer the rewards you earned with the. Additionally, Chase will consider your current income, any major monthly expenses such as housing payments and any assets you have available as part of the application process. Submit an application for a new card. It all depends on Chases evaluation of your entire credit situation. Does the fact that it's a Mastercard matter? All financial products, shopping products and services are presented without warranty. The Chase Freedom Flex card may require good to excellent credit, but it's possible to improve your credit score in as little as a few monthsdepending on your situation. Standard message rates apply. Additionally they spend $5,555 on eligible dining and at drugstores, earning 16,665 Chase Ultimate Rewards points. A card grouping like this can yield richer returns than just owning one of the cards alone. Several factors go into determining your credit score. How do I qualify for a flex card? - InsuredAndMore.com account and use them to book and pay for travel through the Chase Ultimate Rewards portal where points are worth 25% more. Enjoy 6.5% cash back on travel purchased through Chase Ultimate Rewards, our premier rewards program thatlets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year). Flex Card For Seniors Qualifications - Century Medicare Another thing to consider: If you decide to switch your credit card from an existing Freedom product to the Chase Freedom Flex, your account number will change. For example, the 2021 bonus calendar was: JanuaryMarch: Wholesale clubs; internet, cable, and phone services; and select streaming services. See rates and fees). for purchases such as travel not booked through the Chase travel portal and the. We believe everyone should be able to make financial decisions with confidence. To ensure the security of your account, you will be required to enter a one-time PIN each time you It has to, because you'll be moving from Visa (where all card numbers start with "4") to Mastercard (which usually start with a "5"). It's a solid card for newbies, which introduces them to Chase Ultimate Rewards. Toll-free Phone: 877-FSAFEDS (372-3337) TTY: 866-353-8058 International: +1 650-577-5294 Monday through Friday from 9 a.m. until 9 p.m. Eastern Time . What Is A Medicare Flex Card? And, if you combine it with a premium Chase rewards card, as part of a strategic card-pairing strategy you can maximize your earnings on every dollar you spend. Chase Freedom Flex features a set earning rate in most spending categories. I have 6 other cards all carrying 0-100 balances with a prior chase freedom unlimited. Coverage: Pay for dental, vision and hearing costs, with no out-of-pocket costs to you. You might be able to turn around your rejection if, for example, your annual income was processed or reported incorrectly. She is the creator of Terradrift.com. In addition to having good credit, youll need to be under Chase 5/24 status to be approved for the Chase Freedom Flex. But there'd be some redundancy; both cards offer the same fixed, ongoing bonus categories and rates on dining, drugstore purchases and travel booked via Chase. Yes, the Chase Freedom Flex is hard to get because it requires at least a good credit score for approval. This means that you need at least good credit to get this card. The Chase Freedom Flex card offers lucrative cash-back rewards and a welcome bonus of $200 bonus after spending $500 on purchases in the first 3 months from account opening for new cardholders. All financial products, shopping products and services are presented without warranty. It is public and/or may be used by others. Monday through Friday from 9 a.m. until 9 p.m. Eastern Time, Like us on Facebook, link opens an external site Plus, applicants will need to be 18+ years old with a U.S. mailing address and a Social Security Number or Individual Taxpayer Identification Number to get a Chase credit card. All Cards (39) Opens All Cards page in the same window. She has spent nearly two decades showing readers unique ways to maximize their investments and personal finances. This may include: Proof of identity (e.g., driver's license, passport) Social security number. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. But there are also bonus spending categories that pay up to 5% cash back if you activate them in time. The Chase Freedom Flex bonus categories change every quarter and are announced by Chase in advance. The card offers the following rewards: 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more) and 1% cash back on other eligible purchases. Chauncey grew up on a farm in rural northern California. from this particular computer or device in the future. A few of these offers seem absurd, like the one that says you can get a flex card with $3,000 coverage and use it to buy groceries and shoes. This answer was first published on 08/10/18. Author: Nicole Smith Created Date: 11/1/2021 2:59:08 PM . You must receive an invitation or No other card comes with as much perk potential as (Terms apply, see rates & fees). Steady income ($40,000+ is reportedly best). I don't think their acceptance is quite as limited as stated here. Humana Healthy Spending Account Card | Humana The card will arrive activated and ready to use. Select where you would like to receive your one-time PIN to access your account at this time: You will need to enter that one-time PIN on the next page to access your account online. You can also view your current balance or find participating stores. But there'd still be redundancy: These two cards share the same quarterly bonus calendar, so the 5% rotating categories would be duplicative unless you think you'd be able to spend $1,500 per card every three months (for a total of $3,000 quarterly) in those rotating categories. Chase also has a 5/24 rule that will disqualify you from a new Chase card if youve opened more than five accounts in the last two years. Anyone can warm up to the idea of a rewards card without an annual fee. card to your Amazon account and use rewards to pay for all or part of your purchases. Our partners cannot pay us to guarantee favorable reviews of their products or services. Terms, Conditions and Limitations Apply. This will allow you to utilize the new category bonuses without having to ding your credit score or affect your 5/24 status with a new application. Earn 5% on Chase travel purchased through Chase Ultimate Rewards, 3% on dining and drugstores and 1.5% on all otherRead More, A good overall spending card that allows you to hold a balance on new purchases with a low introductory APR, pay no annual fee, and still earn at least 1.5% cashback on all purchases. What can you do with the Medicare Flex Card? That is, as long as you arent afoul of, If you already have a different member of the Freedom family either the discontinued, you should still be able to apply for the. 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% on travel purchased through Chase Ultimate Rewards, 3% on dining and drugstores and 1% on all other purchases. Again, you have to manually activate each bonus category before the deadline to earn the 5% cash back. Holding a Chase Sapphire Preferred Card earns you a 25% bonus when you redeem points this way. If so, you can reach them at 877-823-8276. Something went wrong. Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back. TTY: 866-353-8058 The Forbes Advisor editorial team is independent and objective. However, this does not influence our evaluations. What was you credit score on Wallethub when you applied? Medicare Flex Card For Seniors | How It (Really) Works The card also comes with perks including Amex Offers and access to Amexs Global Assistance hotline. a FICO score of 690 or higher you're likely eligible. I already had 2 other cards with only about 6 months history (Capital One Quicksilver Cash Rewards Credit Card and TJX Credit Card). Anthem's new Benefits Prepaid Card is a Medicare flex card that gives you spending options that vary by plan and member eligibility. This compensation comes from two main sources. PDF The Flex Card - Flexible Benefit Performance information may have changed since the time of publication. These are provided as guidelines only and approval is not guaranteed. Holding a Chase Sapphire Preferred Card earns you a 25% bonus when you redeem points this way. But there'd still be redundancy: These two cards share the. All financial products, shopping products and services are presented without warranty. Erin Hurd is a credit card and travel rewards expert at NerdWallet. When evaluating offers, please review the financial institutions Terms and Conditions. You will have the option Redemption options on the Freedom Flex include: Rewards never expire as long as your account is open and remains in good standing. An even better plan might be to own both cards. Experience the savings power of an FSA. If you're a traveler who wants to squeeze the most value out of your Chase points, the answer is yes. But there'd be some redundancy; both cards offer the same fixed, ongoing bonus categories and rates on dining, drugstore purchases and travel booked via Chase. So how do we make money? Eligibility To be eligible, you must enroll in a Medicare Advantage plan that offers the card benefit. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. You might be using an unsupported or outdated browser. Wait For Approval: The issuer will review your application, which may take several days to a few weeks. Check back again in Fall 2023 to apply for the 2024-25 program. Estimated Read Time: 6 min Find Medicare Plans in 3 Easy Steps Past performance is not indicative of future results. Robin Saks Frankel is a former credit cards and personal finance writer and editor for Forbes Advisor. Some might consider this an annoying extra step, but it's worth it to earn more cash back. Alternatively, you can redeem rewards for gift cards or link your Chase Freedom Flex card to your Amazon account and use rewards to pay for all or part of your purchases. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Use the Freedom Flex for the quarterly categories and the Chase Freedom Unlimited on everything else. We estimated that the remaining annual household credit card spending that could be put on a credit card is $16,755. If denied, consider calling the credit . Visit any Chase bank and have a personal banker activate for you. Balance transfer fee applies, see pricing and terms for more details. You can, in theory, still apply for the Chase Freedom Flex and collect all three. This card has a tempting bonus offer for new cardmembers: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. United Explorer Card: Best for United flyers. The funds can be used to help pay for dental, vision or hearing needs beyond your plan. You'll need to update your number for any bills that you autopay, which can be a minor hassle. There, youll see several ways to use your rewards, including one labeled Get Cash Back. 4 Things to Consider. The main exception to the rule is the Chase Freedom Student credit card, which is available to students with limited credit or better. is aptly named and, as flexes go, it's a pretty major one. How to Apply for a Flex Card If you are interested in getting a Medicare Flex Card, you will need to speak with one of our licensed insurance agents. When evaluating offers, please review the financial institutions Terms and Conditions. You want to maximize rewards: Freedom card members who want to double up rewards in rotating bonus categories should consider applying for Flex. The Visa Flex Card Gives you: Choice: Visit in-network and out-of-network providers Flex Card is a simple, affordable, interest-free way to pay. Score was 708. Is the $2,880 Flex Card for Seniors Real?! - Low Income Relief Pre-qualified offers are not binding. Sign up and well send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money. How to qualify for a Flex Card? - Medicare Nationwide He remains most at home on a tractor, but has learned that opportunity is where he finds it and discomfort is more interesting than complacency. Our team will compare plans and identify if any are in your area that offer the Medicare flex card program. Visit Healthy Benefits Plus or call 855-256-4620 (TTY: 711) to activate your card. She's been featured as a personal finance expert in outlets including CNBC, Business Insider, CBS Marketplace, and has appeared on or contributed to Fox News, CBS Radio, ABC Radio, NPR, International Business Times and NBC, ABC and CBS TV affiliates nationwide. Commissions do not affect our editors' opinions or evaluations. annual fee, it gets you a 50% boost on travel booked in the portal. This is just one scoring method and a credit card issuer may use another method when considering your application.
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