Sue Patterson, WalletHub Analyst
The Chase Freedom Flex minimum payment is $40, or 1% of the new balance plus any interest charges and fees, whichever is more. If the statement balance is less than $40, then that balance is the minimum payment amount due for Chase Freedom Flex cardholders. The minimum payment is listed on each monthly billing statement and the online account page.
Chase Freedom Flex Minimum Payment
- Balance below $40: Minimum payment equals balance
- Balance of $40 to $4,000: Minimum payment equals $40
- Balance over $4,000: Minimum payment equals 1% of the balance, plus interest and fees
Chase gives you at least 21 days after the close of each billing period to make a payment on your Chase Freedom Flex account. You’ll avoid late fees as long as you pay at least the minimum amount before the due date, and you’ll also avoid interest charges if you pay the statement balance in full by the due date every month.
However, when you carry a balance to the next month, you will lose the interest-free grace period between the end of a billing period and the due date. Your balance will accrue interest daily until you pay it off, and you will need pay off the entire balance for two straight months to restore the grace period.
Chase Freedom Flex℠
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Thank you for this explanation. What happens if I have 0% APR for 1.5 years, how it is different? Will I just pay 35$ each month and just need to pay of the rest before 1.5 years end to not pay any interest/additional fees ?