Chase Freedom Flex Credit Card Review

Chase Freedom Flex Credit Card ReviewLearn How to Apply
Chase Freedom Flex Credit Card Review
Our Rating:


The Chase Freedom Flex has one of the most robust and flexible cash back structures available.
Annual Fee:
$0

Intro APR:
0%
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Last updated on Thursday, March 18, 2021 | MarketBeat Staff

The Chase Freedom Flex has one of the most robust and flexible cash back structures available. But to get the most out of this card will require some effort by the cardholder. The Freedom Flex includes categories that offer 5% cashback on a rotating basis. In addition, the users have fixed cash back on select categories. And for anything else, users can benefit by receiving 1% cashback every day.

New cardmembers will also get some outstanding introductory benefits including one year of 5% on grocery purchases up to $12,000. And all of this comes without the expense of an annual fee.

How Do Users Earn Points?

The better question may be how can users not earn points? And the answer is they can’t. For every purchase a cardholder makes, they will get at least 1% cashback. However, select categories of purchases qualify for additional cashback rewards.

For example, dining at restaurants qualifies for 3% cashback. And this includes carryout and eligible delivery services. The same 3% is offered for qualifying drugstore purchases. Pretty good, right?

Well, it gets even better. Freedom Flex cardmembers also receive 5% cashback on the travel they purchase through Chase Ultimate Rewards. And every quarter there are bonus categories that allow members to earn 5% cashback on purchases up to $1,500 in combined purchases. However, cardmembers must sign up for these categories every quarter. The benefit is not automatically activated.

New cardmembers get two very nice introductory offers. The first is a $200 cashback bonus after spending $500 in purchases in the first three months. And they can enjoy 5% cashback on grocery store purchases up to $12,000. The grocery store offer does not include Walmart or Target. However, the offer is valid for grocery delivery services such as Instacart, Shipt, and Peapod.

What Other Member Benefits Are Included?

Chase has partnerships that provide additional benefits that include:

  • A complimentary 3-month DashPass subscription for DoorDash and Caviar. Once the trial period ends, card holders will be automatically enrolled in DashPass at a 50% discount for the next nine months.
  • 5% total cashback on ride-hailing done through Lyft through 3/31/2022
  • Purchase protection covers new purchases against damage or theft for 120 days of up to $500 per claim and $50,000 per account.
  • Extended warranty protection of an additional year on eligible warranties of three years or less.
  • Rental car insurance is secondary to your personal insurance.
  • Trip cancellation insurance of up to $1,500 per person and $6,000 per trip for prepaid non-refundable passenger fares in the event a trip is canceled or cut short due to a covered situation including sickness or weather.
  • Credit score/ID theft protection through Chase Credit Journey.

The Freedom Flex card is also a World Elite Mastercard which means members get additional perks that include cell phone insurance, and discounts and incentives for select services such as Fandango. Cardmembers also receive hotel perks via the Mastercard Luxury Hotel and Resorts program.

How Are Points Redeemed?

The Chase Freedom Flex provides members with multiple redemption options. Cashback points are easily redeemed for cash at the rate of one cent per point. This can be applied as a statement credit or it can be directly deposited into most U.S. checking or savings accounts.

And there is no minimum dollar amount or waiting period. As soon as the cashback is earned it is available for redemption.

However, for members that would like other options, they can redeem points for gift cards, travel or Apple purchases through the Chase portal. Points can also be redeemed on Amazon.com. For any of these options, point values may vary.

What is the Annual Percentage Rate (APR)?

Another benefit of the Freedom Flex is that it has a 0% introductory APR for the first 15 months. After that, the cardholders will be charged a variable APR between 14.99% and 23.74%.

Do You Qualify?

The Freedom Flex is for individuals with good to excellent credit. It is recommended that individuals have a credit score of at least 690 before applying for this card. If you have less than excellent credit, you may still be able to qualify for a cashback card.

Does the Card Have Limitations?

The absence of an annual fee takes away one of the common limitations that cardholders experience. However, the Freedom Flex card may not be optimal for someone that wants a no-fuss way of earning points. 

Also, for some members having to remember to activate the bonus categories every quarter may be a hassle. And some of the bonus categories may not apply to a card member’s spending habits or needs. Also, the card does charge a foreign transaction fee of 3% that can eat into your rewards.

What Cards Are Similar to The Chase Freedom Flex Card?

To get a reasonable comparison to the Freedom Flex card, you need to stay in the Chase brand of cards. The closest comparison is the Chase Freedom Unlimited card. The differences between the two cards are simple, but significant.

First, the Freedom Unlimited card members have fixed bonus categories. There are no quarterly changes. In that way it’s a bit more “set it and forget it” than the Freedom Flex card.

Second, for items that don’t fit into one of the bonus categories, cardmembers earn a flat 1.5% cashback. The second point is in contrast to Freedom Flex which gives members 1% cashback on non-bonus categories.

Conclusion

The Chase Freedom Flex can be an ideal card for consumers who do a lot of shopping in the bonus categories. For example, the introductory 5% offer on grocery purchases can yield a family $600 in the first year. And with 3% on dining and drugstores, the cashback can add up quickly.

There are better rewards cards for extensive travelers. However, with no annual fee, this card literally costs a cardmember nothing and allows them to get generous cashback.





MarketBeat has partnered with CardRatings for our coverage of credit card products. MarketBeat and CardRatings may receive a commission from card issuers.
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