Chase Freedom Flex Review

Reward credit cards with an annual fee, and yet only 1% cashback seems like a waste of time (and money).

The Chase Freedom Flex℠, though, doesn’t have an annual fee, and you can earn up to 5% on your purchases in certain categories.

Is it worth the hype, or is it too hard to get rewards? I dive into the details below.

Chase Freedom Flex℠ Pros and Cons

Pros:

• No annual fee
• You can transfer rewards to other Chase cards to get even more for your rewards
• Introductory APR on purchases for 15 months
• Simple sign-up bonus

Cons:

• You must book travel through Chase to get 5% cashback
• You have to track categories to make the 5% rewards bonus

Chase Freedom Flex℠ Review

What Is the Chase Freedom Flex℠?

The Chase Freedom Flex℠ is a rewards credit card with no annual fee and great bonus categories that earn you up to 5% back on your purchases.

It’s easy to qualify for and pays a great sign-up bonus that’s easy to reach. You can even transfer your points to other Chase cards to maximize their point value.

Chase Freedom Flex℠ Features

• Low Intro APR: 0% APR for the first 15 months, the rate then increases to 14.99% – 23.74%.
• No Annual Fee: A rewards card with no annual fee is a great benefit (and hard to find).
• No Expiration on Rewards: Without an expiration date, you can save up your points or spend them how you want.
• Lucrative Sign-Up Bonus: Spend $500 in the first three months and earn a $200 bonus.
• Great Cash Back: Earn 5% cashback on a rotating set of categories, up to $1,500 per quarter; 5% cashback on any travel purchased through the Chase Ultimate Rewards program; 3% on dining and drugstore spending, and 1% on all other purchases.
• Point Transfers: Transfer your points to the Chase Sapphire Preferred, Ink Business Preferred, or Chase Sapphire Reserve and earn a higher points value (1.25 – 1.5 points versus 1 point). You may also transfer points to one of the partner hotels and airlines but at a 1:1 ratio.
• Bonus Reward Categories: Activate the bonus categories, and you’ll earn 5% cash back on those purchases for the quarter.
• Cell Phone Insurance: Use the Chase Freedom Flex card to pay for your cell phone, and you’ll get secondary insurance coverage up to $800 per claim.

How Do I Redeem My Chase Freedom Flex℠ Rewards?

Each point is worth one cent, but you can pool your points in the Chas Ultimate Rewards program and get more bang for your buck, earning 25% to 50% more for each point.

You can redeem points for cash back, travel, statement credits, or gift cards. You can also redeem points for Amazon purchases but at a rate of 0.8 cents per point. Your points never expire.

Chase Freedom Flex℠ Alternatives

#1. Citi® Double Cash Card vs Chase Freedom Flex℠

With no annual fee, the Citi® Double Cash Card is an attractive option too. The Citi card pays double the rewards, hence the name ‘Double Cash Card.’

You earn 1% of the purchase price when you use the card and another 1% when you pay your bill. You must make at least the minimum payment to earn the bonus points.

The Citi® Double Cash Card doesn’t have a sign-up bonus or an introductory APR. It does offer a 0% balance transfer APR for 18 months, which is great if you have a high APR on another card.

There aren’t any categories to watch or offers to activate, making the Citi® Double Cash Card an attractive (and easy) choice.

#2. Discover it® Cash Back vs Chase Freedom Flex℠

If you’re looking for high rewards, the Discover it® Cash Back may be a good option. You’ll earn 5% cash back on purchases, but like the Chase Freedom Flex card, the categories rotate every 3 months.

Discover has another bonus for the first year, though – they’ll match your cashback bonus for the first 12 months with no maximum.

They also offer a 0% balance transfer APR for the first 14 months.

The Discover it® Cash Back offers are usually in common categories such as grocery stores, gas stations, Amazon, restaurants, and wholesale clubs.

You can redeem points whenever you want and can receive them as cash, statement credits, charitable donations, or gift cards.

#3. Chase Freedom Unlimited® vs Chase Freedom Flex℠

The Chase Freedom Unlimited® credit card doesn’t have an annual fee and offers lucrative bonuses. Cardholders earn 3% cash back on dining and drugstore purchases, 1.5% on all other purchases, and 5% on travel booked through Chase.

Chase offers a $200 sign-up bonus after you spend $500 in 3 months and a 0% APR on balance transfers for 15 months.

You can redeem points for gift cards, travel through Chase, or Amazon purchases, but Amazon purchases only get 0.8 cents per point, and all other rewards are 1:1.

Frequently Asked Questions

Is the Chase Freedom Flex℠ a Good Card?

Chase Freedom Flex is a good card if you don’t mind sorting through categories and staying on top of the recent offers. The high sign-up bonus and potential bonuses for special categories make it worth it. If you use the rewards for travel or cash back, you’ll make the most of your points.

What Credit Score Do I Need to Qualify for the Chase Freedom Flex℠?

Most reward credit cards require great credit, but the Chase Freedom Flex℠ is one of the few that allows a credit score lower than 700. While they still require a 690, it’s refreshing to see them make it a little easier for anyone to qualify.

Is the Chase Freedom Flex℠ Hard to Get?

Besides the credit score requirement of 690, the Chase Freedom Flex℠ card is easy to get, but there’s one more rule. You can’t have opened more than 5 Chase cards in the last 24 months. It’s called the Chase 5/24 rule, and they’ll check your credit report to make sure you don’t violate it.

Does the Chase Freedom Flex℠ Have an Annual Fee?

No, this is one rewards credit card that doesn’t have an annual fee.

Can I Combine Freedom Flex Rewards with Other Chase Cards?

Yes, if you have other Chase cards, such as the Chase Sapphire Preferred or Chase Sapphire Reserve card, you can transfer your Chase Freedom Flex points over and get 25% – 50% more for your points.

Is the Chase Freedom Flex℠ or the Freedom Unlimited Better?

The difference comes down to the rewards. The Chase Freedom Flex pays 5% on bonus categories that change every quarter. You have to keep track of the categories to get the bonuses. The Freedom Unlimited card pays 1.5% back on all purchases, there aren’t any categories to watch.

Which one is better depends on your needs. Are you okay with tracking categories? Will you make the most of them, or would a flat 1.5% back be a better option for you?

Bottom Line: Chase Freedom Flex℠ Review

The Chase Freedom Flex card is a great card to have in your wallet. If you’re organized and can track the rotating categories, you can make the most of your cashback.

If not, you’ll earn 1% on most purchases and 3% on dining and drugstore spending.