Chase Freedom Flex Review: Why This Card Is a No-Brainer
Chase Freedom Flex Review: Why This Card Is a No-Brainer
The Chase Freedom Flex℠ is an excellent cash back card with ample earning opportunities for cardholders who enjoy rotating earning categories.
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Quick facts
More details
Rates & fees
- Credit needed: 660 - 850
- Earning rate: 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
- Sign-up bonus: Earn a $200 bonus after you spend $500 on purchases in the first three months. Plus, earn 5% cash back on grocery store purchases (excluding Target® and Walmart®) on up to $12,000 spent in the first year
- Annual Fee: $0
- Other benefits: Long introductory offer for balance transfers and new purchases, cellphone protection, purchase protection, extended warranty
Quick facts
- Credit needed: 660 - 850
- Earning rate: 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
- Sign-up bonus: Earn a $200 bonus after you spend $500 on purchases in the first three months. Plus, earn 5% cash back on grocery store purchases (excluding Target® and Walmart®) on up to $12,000 spent in the first year
- Annual Fee: $0
- Other benefits: Long introductory offer for balance transfers and new purchases, cellphone protection, purchase protection, extended warranty
More details
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
- 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
- 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.49% - 28.24%.
- No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Flex℠ card
- Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
Rates & fees
- Intro Purchase APR: 0% Intro APR on Purchases for 15 months
- Regular Purchase APR: 19.49% - 28.24% Variable
- Intro BT APR: 0% Intro APR on Balance Transfers for 15 months
- Regular BT APR: 19.49% - 28.24% Variable
- Annual Fee: $0
- Foreign Transaction Fee: 3% of each transaction in U.S. dollars
- Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
Pros
Cons
Is the Chase Freedom Flex℠ worth it?
First Year Savings
$583 ?
The Chase Freedom Flex℠ is worth it for cardholders who love strategizing their purchases around bonus categories to maximize their rewards. The card offers robust cash back opportunities and rotating bonus categories that change every quarter.
With a $0 annual fee, the Chase Freedom Flex℠ is loaded with excellent rewards and cardholder-friendly benefits. Both credit card newbies looking for cash back and credit card experts who are currently pausing on travel will enjoy the versatility of the Chase Freedom Flex℠.
While this card does not cover foreign transaction fees, it offers many travel benefits and protections. Keep in mind, though, that this card is subject to Chase’s 5/24 rule, meaning that you won’t qualify if you’ve opened five or more credit cards in the past 24 months.
Who is the Chase Freedom Flex℠ card best for?
The Chase Freedom Flex℠ card is best for consumers who don't want to pay an annual fee and still earn rewards on all their spending. It's an especially fitting choice for those who can appreciate rotating bonus categories, and can leverage them to maximize their rewards potential. If you'd rather choose a rewards credit card with a flat earning rate, or one with steadfast categories, you may want to look elsewhere.
Sign-up bonus
Chase consistently offers solid welcome bonuses, even for cards with no annual fee. Thankfully, the Chase Freedom Flex℠ is no exception.
You’ll Earn a $200 bonus after you spend $500 on purchases in the first three months. Plus, earn 5% cash back on grocery store purchases (excluding Target® and Walmart®) on up to $12,000 spent in the first year
Your bonus comes in the form of Chase Ultimate Rewards® points. If you own a premium Ultimate Rewards card, like the Chase Sapphire Preferred® Card, you can transfer your points to that card and boost their value by redeeming them for travel.
How much is it worth? $200
Who is eligible to earn it? Cardholders whose account is open and not in default at the time of fulfillment.
Earning rate
The Chase Freedom Flex℠ allows you to earn cash back rewards fast through elevated spending categories:
5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
The bonus spending categories change quarterly, and include lucrative purchases like restaurants and groceries.
Chase Freedom Flex℠ 2023 categories
January-March | April-June | July-September | October-December |
|---|---|---|---|
|
| TBA | TBA |
On the downside, you have to remember to activate the rotating categories, and you're limited to $1,500 in purchases each quarter. Nonetheless, you can get a lot of value out of these rotating categories.
In fact, the combination of the rotating categories on Chase Freedom Flex℠ and its ongoing bonus on restaurant purchases makes it one of the most valuable cash back cards around. See how its earning power stacks up against other cash back cards according to our estimates:
Average rewards earned per $1 spent
We estimate an earning rate for the average consumer based on U.S. Bureau of Labor data and multiply that by the value of each card’s points or miles.
Redeeming rewards
The Ultimate Rewards® points that you earn with the Chase Freedom Flex℠ are very valuable and flexible. You can redeem your points for any amount of cash back, which means you can cash out at any time without worrying about any minimums. Also, as long as you keep your Chase account open, cash back rewards do not expire.
You can also use points for other reward options, including purchasing gift cards, travel, and pay with points for products or services made available through the program or directly from third-party merchants.
As mentioned, if you own a premium card, like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, you can transfer your points and get an even better value on travel redemptions:
- Up to $15 per 1,000 points for travel through the Chase Ultimate Rewards® portal
- Up to $20 per $1,000 points for travel through a Chase Ultimate Rewards® partner
Value of 1,000 Ultimate Rewards points
Other benefits
Since the Chase Freedom Flex℠ is a World Elite Mastercard, enjoy these additional benefits:
The Chase Freedom Flex℠ offers cardholders added protection while shopping.
The card comes with the following helpful safeguards:
- Purchase protection: Covers damage and theft on new purchases for 120 days, with up to $500 per claim and $50,000 per account.
- Extended warranty: Chase will extend a manufacturer’s warranty by an additional year on eligible warranties three years or less.
- Zero liability protection: You won't be held responsible for fraudulent charges made on your account. However, this does not apply to authorized users who make purchases without the primary cardholder's permission.
Although the Chase Freedom Flex℠ is a cash back card, it offers essential travel benefits as well:
- Auto rental collision damage waiver: This covers theft and collision damage for most cars, although coverage is secondary for U.S. rentals.
- Trip cancellation/interruption insurance: For any trip cancellation or interruption by sickness, severe weather or other qualifying reasons, you can be reimbursed up to $1,500 per person or $6,000 per trip.
- Travel and emergency assistance services: Cardholders have access to 24/7 emergency services, assistance and referrals. You are responsible for any costs incurred.
You get up to $1,000 in yearly coverage (up to $800 per claim, with two per year) toward theft and damage of a cellphone. Simply pay your cellphone bill with your Chase Freedom Flex℠ to qualify.
Your concierge service provides 24/7 personal assistant services for travel or other questions.
Get exclusive golf tours and experiences, and access to Golf Concierge Service.
Get special offers on ride-sharing services, food delivery, online shopping and more.
Receive two-day shipping and free return shipping on 100-plus online retailers.
Get $5 off future movie tickets or at-home purchases for every $20 spent on movie tickets purchased with Fandango.
Cardholders get access to memorable experiences in over 40 cities around the world.
Drawbacks
- Charges foreign transaction fees — Cardholders will be charged 3% of each transaction in U.S. dollars as a foreign transaction fee. These small fees can really add up over the course of a vacation abroad, so we recommend only using this card for domestic purchases. Consider a no-foreign-transaction-fee credit card for international purchases instead.
- Only earns 1% cash back on regular purchases — This is pretty standard for rewards credit cards, though if you'd rather earn a higher flat rate across all purchases, you might consider the Citi® Double Cash Card – 18 month BT offer instead.
Alternatives cards
We’ve picked out a few other cash back credit cards that have no annual fees.
View more cards
Chase Freedom Flex℠ vs. Chase Freedom Unlimited®
The better choice for those who don't want to keep track of rotating bonus categories
For those who are wary of keeping track of rotating categories, the Chase Freedom Unlimited® card is a great cash back alternative with the same flexible redemption options.
It doesn’t have any rotating bonus categories, but it does have a better 1.5% earning rate on anything else. Cardholders Enjoy 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases
That 0.5% difference can seem marginal at first glance, so you’ll want to assess your spending habits and see if you’ll actually benefit from the rotating categories with Chase Freedom Flex℠. If you can’t keep up with them (since you will have to manually activate the bonuses each quarter), the Chase Freedom Unlimited® may save you a few headaches.
Chase Freedom Flex℠ vs. Citi® Double Cash Card – 18 month BT offer
Simple and valuable flat rate rewards on all purchases
If you want to avoid bonus categories altogether, The Citi® Double Cash Card is a great way to go. It takes the guesswork out of cash back rewards by offering a standard earning rate. You’ll Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
However, it has minimal card benefits, unlike the Chase Freedom Flex℠. So if you make drugstore or dining purchases frequently — or anything that may fit in the bonus categories — the Chase Freedom Flex℠ is likely the better choice for you.
Chase Freedom Flex℠ vs. Capital One Quicksilver Cash Rewards Credit Card
A solid flat-rate cash back card with None foreign transaction fees
The Capital One Quicksilver Cash Rewards Credit Card is a better travel card overall, as it has trip insurance and None foreign transaction fees. If you go abroad frequently and are in need of a card that will waive those pesky fees, the Capital One Quicksilver Cash Rewards Credit Card may be better for you.
With the Capital One Quicksilver Cash Rewards Credit Card, you’ll earn a standard 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply). Both cards have a decent sign-up bonus. It's not nearly as rewarding as the Chase Freedom Flex℠, but it's still a solid cash back card.
Should you get the Chase Freedom Flex℠?
If you're looking for a high-earning cash back credit card with $0 annual fee, you should definitely consider applying for the Chase Freedom Flex℠. If you're able to maximize your earnings based on the rotating quarterly categories, this card can be extremely valuable.
However, if you'd rather choose a rewards credit card without rotating categories, there are plenty of great options available instead.
Frequently asked questions
Is Chase Freedom Flex℠ hard to get?
The Chase Freedom Flex℠ card will not be hard to get if your credit score is within the required range for approval. This card requires a 660 - 850 credit score for acceptance.
What credit score do you need for the Chase Freedom Flex℠?
The Chase Freedom Flex℠ requires a 660 - 850 credit score for approval. It's important to check your credit score ahead of time to increase your chances of acceptance and avoid an unnecessary hard pull on your credit score.
What's the difference between the Chase Freedom Unlimited® and the Chase Freedom Flex℠?
The most significant difference between the Chase Freedom Unlimited® and Chase Freedom Flex℠ cards is that the Chase Freedom Flex℠ card offers rotating bonus categories, while the Chase Freedom Unlimited® offers a fixed percentage of cash back in non-rotating categories.
Is Chase Freedom Flex℠ a Visa or Mastercard?
The Chase Freedom Flex℠ is a World Elite Mastercard, and includes the additional benefits that come with it.
The information related to Discover it® Cash Back has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
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How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.
Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).