- No annual fee
- $200 initial bonus
- Ongoing rewards of 1 - 5% cash back
- 0% for 15 months on purchases
- Doesn't really offer cash back
- Rotating bonus rewards categories
- Earning limit in bonus categories
- 3% foreign transaction fee
Chase Freedom Flex Review Summary
The Chase Freedom Flex℠ credit card is a good source of bonus rewards for people with good or excellent credit who want a cash back credit card with a $0 annual fee. Chase Freedom Flex offers an initial bonus of $200, for spending $500 in the first 3 months, along with ongoing rewards of 1 - 5% cash back.
That includes 5% cash back on grocery store purchases (up to $12,000 spent in the first year), 5% cash back on travel booked through Chase, as well as 5% back on up to $1,500 spent per quarter in rotating bonus categories that require activation. Cardholders also earn 3% back at restaurants and drugstores, and 1% back on everything else.
Chase Freedom Flex isn’t completely rewards-focused, either. The card also offers an introductory purchase APR of 0% for 15 months. Its regular interest rate can be pretty high, though, so plan to pay your monthly bills in full once that takes effect.
Below, you can find more information to help you decide whether or not it’s worth applying for Chase Freedom Flex.
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
- Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
- Earn 5% on Chase travel purchased through Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
- No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
- No annual fee.
- 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
- See More Details & Reviews About Chase Freedom Flex℠
Chase Freedom Flex Review Highlights
$200 Initial Bonus
At $500 over the first 3 months, the amount one needs to spend to qualify for the Freedom Flex sign-up bonus makes it far more accessible than many of the market's best credit card deals. As a result, this is a steal for light-spenders. Plus, cardholders have more bonus rewards waiting for them the first year, as Freedom Flex now gives 5% cash back on the first $12,000 you spend on groceries in the first 12 months your account is open.
Trio of 5% Cash Back Offers
Freedom Flex currently offers 5% cash back on travel booked through Chase Ultimate Rewards. Up to $1,500 spent per quarter in rotating bonus categories from the Chase Freedom Flex bonus calendar also earn 5% cash back, when activated. And, to top it off, Freedom Flex cardholders get 5% cash back on Lyft rides through March 2022.
3% Back at Restaurants and Drugstores
Chase Freedom Flex bonus rewards extend beyond limited-time offers with this 3% earning rate, which also applies to pickup and delivery orders.
No Annual Fee
The absence of an annual fee is perhaps the Freedom Flex card’s biggest draw, enabling it to serve as an affordable alternative to the highest yielding offers on the market. The absence of fixed costs also helps the offer’s rewards structure avoid too much scrutiny. Expectations tend to be a lot lower and people more forgiving when perks aren’t being paid for directly.
The fact that Freedom Flex is ostensibly a cash back credit card would seem to indicate that you should redeem for a simple statement credit or check. And while you can certainly do so, the fact that you won’t sacrifice value when redeeming for things like Amazon.com purchases and gift cards differentiates the offer from many other rewards cards. Points tend to be slightly less valuable when redeemed for travel, however, according to WalletHub’s Chase Ultimate Rewards Program Review.
0% APR for a Long Intro Period
Freedom Flex offers an introductory purchase APR of 0% for the first 15 months. Combined with the ability to earn rewards on purchases, this interest-free term provides powerful money-saving potential to new applicants with big-ticket expenses in their future.
The one thing you have to be careful about in this regard is to not spend more than you can afford to repay by the conclusion of the intro term. Revolving a balance beyond this point would trigger finance charges that would quickly negate your savings.
Chase Freedom Flex Review Lowlights
Rotating Bonus Categories
Each quarter, you need to sign up for new bonus categories in order to earn one of Freedom Flex’s 5% cash back rates. You could possibly make this pay off if you’re diligent and strategic, but few people want that kind of burden from their rewards credit card. Besides, you only even have the potential to rake in $25 per month and $300 per year via the Flex card’s quarterly 5% earning rate.
5% Balance Transfer Fee
If the fact that Freedom Flex does not offer a 0% rate on transferred balances does not scare you off, the card’s corresponding surcharge of 5% (or $5, whichever is greater) should be a deal breaker.
3% Foreign Transaction Fee
It’s kind of ironic. The card is called Freedom Flex, but users are far less free to travel internationally than people packing no foreign transaction fee credit cards, which are rapidly growing in number.
While consumers are incentivized to use credit cards instead of cash when traveling abroad by much lower currency-conversion costs and better theft protection, the roughly 90% of cards that charge a 2% to 4% international surcharge complicate the decision. If you regularly travel internationally or pay international merchants, you may want to consider a more fee-friendly offer.
Other Things To Consider About Chase Freedom Flex
Cardholders Earn Reward Points, Not Direct Cash Back
Freedom Flex is fully marketed as a “cash back” credit card. The problem with that is it’s not. Freedom cardholders actually earn points that can be redeemed for cash at a rate of 1 cent per 1 point. So, at the end of the day, you will get cash back. But Chase could always move the goalposts and effectively devalue the points you hold in your account. An issuer can’t do that when earnings are expressed in terms of dollars and cents from the start.
Helpful Secondary Benefits
Chase Freedom Flex benefits include rental car insurance, trip cancellation/interruption insurance, extended warranty protection and more.
Chase Freedom Flex vs. The Competition
Chase Freedom Flex℠
Chase Freedom Unlimited®
Citi® Double Cash Card – 18 month BT offer
|Rewards Rate||1 - 5% Cash Back||1.5 - 5% Cash Back||2% Cash Back|
|Purchase Intro APR||0% for 15 months||0% for 15 months||N/A|
|Transfer Intro APR||N/A||N/A||0% for 18 months|
Transfer Fee: 3% (min $5)
|Regular APR||14.99% - 23.74% (V)||14.99% - 23.74% (V)||13.99% - 23.99% (V)|
|Details, Rates & Fees||Learn More||Learn More||Learn More|
Expert Thoughts on The Chase Freedom Flex
To help people learn more about The Chase Freedom Flex, WalletHub's editors posed the following questions to a panel of experts. You can meet our panelists and read their responses below.
1.What type of person should consider a credit card with rotating quarterly categories?
2.Is it generally better to have one credit card with rewards and 0% introductory APRs, or a rewards card and a 0% card?
3.Why aren’t there as many advertisements for the Chase Freedom Flex as there are for many other popular credit card offers?