Chase Freedom Flex℠ Review
The Chase Freedom Flex℠ is one of the best rewards cards on the market for borrowers looking to earn cash back without paying an annual fee. Here’s why:
- Flexible cash back: The cashback program on the Chase Freedom Flex℠ is geared toward the everyday spender, offering advanced rewards rates on almost every purchase. Regular rewards categories include dining, drugstores, and travel booked through Chase. While rotating categories can range from gas to groceries to online purchases.
- High-maintenance rewards: On the downside, this card only reaches its full potential for borrowers who are willing to keep an eye on rotating bonus categories and activate their rewards every quarter.
- Short-term 0% APR: The card offers 15 months of no-interest on purchases and balance transfers. While this is a great perk, 15 months isn’t a very long time for paying off large credit card debts, so this probably isn’t the right choice for a balance transfer. However, you can use the 15 months to easily pay off a pricey purchase or two without worrying about interest.
- Double welcome bonus: The $200 cash back welcome bonus is easy to unlock (you only need to spend $500 in 3 months) but nothing to write home about. However, you also get a second welcome bonus in the form of 5% back on groceries (up to $12,000 in spending) in your first year of borrowing.
Chase Freedom Flex℠ Pros & Cons
Who is the Chase Freedom Flex℠ best for?
The Chase Freedom Flex℠ is an ideal credit card for the following types of borrowers:
- Dedicated rewards seekers: While the Chase Freedom Flex℠ offers big opportunities to save money through cashback rewards, the catch is that you have to monitor and activate bonus categories every quarter. If you want to make the most out of this card, you should be a disciplined borrower willing to make efforts to maximize cash back.
- On- and offline spenders: The Chase Freedom Flex℠ rewards a diverse range of purchases. Bonus categories are often centered on online purchases (like Amazon and PayPal purchases), while regular categories reward the out-and-about spender. Those who are flexible with how and where they spend their money will easily be able to capitalize on rewards.
- Domestic travelers: You can get 5% back on travel booked through the Chase portal, which offers flights, hotels, rental cars, experiences, and more. Plus, you’ll continue racking up cash back when you dine on your vacation or fill up for a road trip (if you plan your vacation during a quarter with gas rewards). While 3% foreign transaction fees make this card less-than-ideal for overseas trips, the US traveler can save a lot with the card.
If you don’t identify with one of these profiles or aren’t keen on keeping track of rotating rewards, we suggest you explore some similar cards below that may offer more beneficial rewards programs.
Rewards
The Chase Freedom Flex℠ has a cashback rewards program that offers:
- 5% cash back on the quarterly bonus category (up to $1,500 in quarterly spending)
- 5% cash back on travel booked through Chase
- 3% cash back on dining
- 3% cash back on drugstores
- 1% cash back on everything else
The rotating bonus category must be activated each quarter, so only a dedicated rewards-seeker should consider this card. Otherwise you’ll miss out on big saving opportunities. Here’s an example of rotating bonus categories:
- Q1: Groceries (excluding Target and Walmart)
- Q2: Amazon.com & streaming services
- Q3: Gas & entertainment
- Q4: Walmart & PayPal
How Much You Can Earn
We’ve taken data on average American spending to calculate estimates of how much you could earn back in rewards on the Chase Freedom Flex℠, given you use the card to its full advantage and activate your quarterly bonus categories.
Example of annual rewards earnings
| Rewards category | Rewards rate | Annual spending | Annual earnings |
|---|---|---|---|
| Quarterly bonus category | 5% | $3,298.53 | $164.93 |
| Travel booked through Chase | 5% | $2,350 | $117.50 |
| Dining | 3% | $3,030.30 | $90.91 |
| Drugstores | 3% | $1,168.36 | $35.05 |
| Everything else | 1% | $2,400 | $24 |
| Total: $432.39 |
To calculate your bonus category rewards, we averaged out what you’d get back in a year using previous bonus rewards categories.
The above estimate is based on aggregate data from the government and other sources about how much the average American spends on certain purchases. If the numbers seem high or low compared to your own spending, adjust accordingly for a better idea of how much cash back you could earn.
Rewards Redemption
Rewards earned on the Chase Freedom Flex℠ can be redeemed in the following ways:
- As statement credits
- As a direct deposit into a US bank account
- As gift cards
- For purchases at Amazon.com
- To pay for travel or experiences booked through Chase
Welcome Bonus
As a limited time offer, the Chase Freedom Flex℠ has two welcome bonuses:
- $200 cash back if you spend $500 in your first 3 months of borrowing
- 5% cash back on groceries in your first year of borrowing (up to $12,000 in spending)
The $200 welcome bonus is a nice extra, but relatively low in the grand scheme of welcome bonuses on the market. However, the extra cashback rate can go a long way—earning up to $600 back at the elevated rate.
Rates & Fees
Fees
- Annual fee: $0
- My Chase Plan fee: 1.72%
- Foreign transaction fee: 3%
- Cash advance fee: 5% or $10 (whichever is greater)
- Balance transfer fee: 5% or $10 (whichever is greater)
- Intro balance transfer fee: 3% for balances transferred within 60 days of account opening
- Late payment fee: Up to $40
Interest Rates
- Purchase APR: 18.74%–27.49% (variable)
- Intro purchase APR: 0% for 15 months
- Balance transfer APR: 18.74%–27.49% (variable)
- Intro balance transfer APR: 0% for 15 months
- Cash advance APR: 28.74% (variable)
- Penalty APR: 29.99% (variable)
Benefits
Perks
With the Chase Freedom Flex℠, you can enjoy the following perks and limited time offers:
- DashPass: Free 3-month membership (limited time offer)
- Lyft: 5% cash back on rides (limited time offer); $5 credit (when you pay for 3 rides in a calendar month with your card)
- Instacart: Free 3-month membership (limited time offer)
- Fandango: $5 in credit when you spend $20 on the service
- Shoprunner: Free 1-year membership & free 2-day shipping
While these are some handy extras, the offerings are limited and won’t necessarily appeal to everyone.
Insurance & Protections
To keep your card and identity safe, the Chase Freedom Flex℠ comes with the following insurance benefits and protections:
| Benefit | What It Means |
|---|---|
| Zero liability protection | You won't be held responsible for unauthorized purchases made with your card or card information. |
| Purchase protection | You'll get 120 days of protection against damage and theft on new purchases, up to $500 per claim. |
| Extended warranty protection | Get an additional year on a manufacturer's warranty that is less than 3 years. |
| Cell phone protection | Get up to $800 per claim (or $1,000 per year) on cell phone damage or theft if your cell phone bill is paid with your Chase card. |
| Trip cancellation insurance | You can get refunded up to $1,500 per person (or $6,000 per trip) for nonrefundable passenger fares that are cancelled due to covered events, like severe weather or sickness. |
| Auto rental collision damage waiver | If you charge the entire rental cost to your card, theft and collision damage will be covered (you must decline the rental company's collision insurance). |
| Travel and emergency assistance services | Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance. |
| Fraud monitoring & alerts | Get notified by call, text, or email when Chase detects any suspicious activity on your account. |
My Chase Plan (Installment Payments)
Chase is one of the few credit card issuers that offers alternative payment plans to borrowers who need to make a large purchase but don’t want to rack up mountains of interest charges.
My Chase Plan is a pay-over-time installment plan that allows you to break up a purchase over $100 into fixed monthly payments. In lieu of interest, you’ll have to pay a monthly plan fee, which will be 1.72% of the purchase amount.
Credit Reporting
Credit reporting is at the discretion of a credit card’s issuer, but comprehensive reporting is important to keeping your credit reports and credit scores up to date. Luckily, Chase reports to major credit bureaus every month.
Free Credit Scores
Chase offers My Credit Journey, which includes free monthly credit scores and personalized advice to help you keep a clean credit profile.
How to Get a Chase Freedom Flex℠
Credit Score Required
The Chase Freedom Flex℠ requires good-to-excellent credit to qualify, meaning you should have a FICO score of at least 670. Your credit score will also determine what terms you’re offered, so you can expect APR on the higher end of the range if your credit score is on the lower side.
Pre-Approval
Before submitting an official application for the Chase Freedom Flex℠, we recommend seeing which Chase credit cards you’re pre-approved for. Pre-approval will help you determine whether you’re likely to qualify for the card and what terms you may get.
If you’re not likely to get approved for the card, consider other options, as submitting a formal application will take points off your credit score through the hard pull Chase will perform.
How to Apply
You can apply online for the Chase Freedom Flex℠. If you already have a Chase online account, sign in before starting the application.
You’ll most likely receive an immediate decision regarding your application once you submit the online form.
Comparable Cards
See how the Chase Freedom Flex℠ compares to similar credit cards.
Chase Freedom Flex℠ FAQs
What’s the credit limit on the Chase Freedom Flex℠?
The Chase Freedom Flex℠ likely offers credit limits between $500–$20,000. Chase will not disclose the exact range of credit limits offered on the card, but the customer service team confirmed that limits will be no less than $500. Anecdotal evidence online suggests it could go as high as $20,000 and up.
Can I use a Chase Freedom Flex℠ for a cash advance?
You can use the Chase Freedom Flex℠ to take out a cash advance (getting cash or cash equivalent directly from your credit card). Cash advances on the card will be charged a fee of 5% of the transaction with a minimum of $10. They’ll also be subject to extremely high APR of 28.74% (variable).
Because of the expense, we recommend avoiding cash advances.
Can I use the Chase Freedom Flex℠ for a balance transfer?
You can consolidate debt onto a Chase Freedom Flex℠ credit card through a balance transfer. Balance transfers initiated within 60 days of account opening will be charged 3% of the transfer amount as a fee. They’ll also enjoy 15 months of no interest, after which the APR will be 28.74% (variable).
The 0% APR period makes this a decent balance transfer credit card, but only for smaller debts, as 15 months is a relatively short time frame.
Are authorized users allowed on the Chase Freedom Flex℠?
You can add authorized users to your Chase Freedom Flex℠ without paying an authorized user fee. Chase doesn’t list any minimum age requirements for authorized users, though you should exercise caution when adding authorized users, as you will be solely responsible for managing the account.
