Rewards Plan
Sign up Bonus
Credit Rating
0% Intro
Annual Fee
APR
- Cashback Rewards
- Sign Up Bonus
- Cash Bonuses Cap
- High APR
On Chase’s Secure Website
Rewards Plan
Sign up Bonus
0% Intro
PROS
- Cashback Rewards
- Sign Up Bonus
CONS
- Cash Bonuses Cap
- High APR
APR
19.49% - 28.24% variable
Annual Fee
$0
Balance Transfer Fee
$5 or 5% (the greater)
Credit Requirements
Good – Excellent
The Chase Freedom Flex℠ Card does not come with an annual fee and offers 5% cash back on up to $1,500 in combined purchases on selected categories each quarter and 5% cash back on travel purchased through Chase Ultimate Rewards®. Also, you can earn 3% cash back on dining at restaurants (including takeout and eligible delivery services), drugstore purchases , and 1% on all other purchases.
The card offers a nice sign up bonus of $200 bonus after you spend $500 on purchases in the first 3 months from account opening. Lastly, you are eligible for a lengthy 0% intro APR for 15 months on purchases and balance transfers, then 19.49% - 28.24% variable.
The Chase Freedom Flex is one of the most popular cards for those who have good credit. However, if you want a card that does not have changing bonuses every quarter you may want to look for a card that offers higher cash back on all purchases.
- 0% Intro APR on Purchases and Balance Transfers
- Protection & Free Credit Score
- Other Bonuses
- Cashback Rewards
- Sign Up Bonus
- No Annual Fee
- Pool Points
- Bonuses has a Cap
- Fees
- Chase Restrictions
- High APR
Does Chase Freedom Flex offer pre approval?
Yes, you can get pre-approval. This provides you with a greater level of flexibility and you do not have to initially subject yourself to a hard credit check.
What are the top reasons NOT to get it?
If you make a lot of purchases not covered by the respective categories and will only get 1% cashback on them. You may also travel a lot and not want to pay the 3% foreign exchange transaction charge that comes with this card.
Should You Move to Chase Freedom Flex card?
This is a good fit for people who are looking for good cashback rates, as well as getting access to quarterly bonus categories for enhanced rates.
How do I redeem cashback on the Chase Freedom Flex card?
You go to the Ultimate Rewards section that Chase has on offer and you can choose between the options as to how you utilize the rewards.
In This Review..
Benefits
Let’s take a look at the benefits of the Chase Freedom Flex card and see if it’s the right one for your wallet or not.
- 0% Intro APR on Purchases and Balance Transfers
If you are looking to save money on interest, the Chase Freedom card Flex offers a 0% introductory rate for 15 months on purchases and balance transfers (then 19.49% – 28.24% variable).
If you have a credit card that you are trying to pay down, you can transfer the account and pay no interest on the transfer for 15 months. Also, you can charge up the card and pay no interest for 15 months. This is great if you have a big purchase in mind and want to pay over time.
- Protection & Free Credit Score
The Chase Freedom Flex card has zero liability, purchase protection, chip- enabled security and auto rental collision damage waiver. These features help give you peace of mind. Also, the Chase Freedom Unlimited® card will also update you monthly with what your credit score is.
You can check this by signing into your online account. This is offered through Credit Journey and is based on your Transunion credit report.
- Other Bonuses
There are a couple of other opportunities you can take advantage of in order to increase your bonuses with the Chase Freedom Flex card.
Also, you can get $100 for referring a friend.
- Cashback Rewards
Chase Freedom Flex offers 5% cash back on up to $1,500 in combined purchases on selected categories each quarter and 5% cash back on travel purchased through Chase Ultimate Rewards®. Also, you can earn 3% cash back on dining at restaurants (including takeout and eligible delivery services), drugstore purchases , and 1% on all other purchases
- Sign Up Bonus
You can get a $200 bonus after you spend $500 on purchases in the first 3 months from account opening after signing up.
This bonus has a low threshold compared to other cards; in fact, many other credit cards have sign-up bonuses that require thousands to be spent in the first few months in order to get the bonus.
- No Annual Fee
Many of the rewards cards that offer higher rewards than Chase Freedom Flex have annual fees which end up eating into the rewards.
The Chase Freedom Flex card does not have an annual fee.
- Pool Points
If you hold other cards with Chase such as the business credit card product or Ink Business Preferred® Credit Card, you can pool your points to earn ever bigger rewards, cash back, or travel points.
This is a great feature but be aware that rewards are not always a dollar for dollar transfer. Usually cashback is the best value.
Drawbacks
Here are the most important cons you should consider before apply:
- Bonuses has a Cap
Chase Freedom Flex Rotating quarterly categories earn 5% rewards up to a combined quarterly of $1,500 maximum.
So if you are a big spender and looking to juice your bonuses, keep track of your spending in the bonus categories.
- Fees
There is a balance transfer fee required if you want to take advantage of the introductory 0% APR rate. Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% (the greater) of the amount of each transfer.
Chase Freedom Flex has a 3% fee for each transaction in another country. If you are traveling outside of the US you may want to leave this card at home.
- Chase Restrictions
Chase Bank has a well-known rule that does not allow customers to sign up for multiple cards and receive multiple sign-up bonuses within a 24-month period.
That means some who want to apply for the large sign-up bonus may not be eligible if they have received another Chase card with a sign-up bonus previously.
- High APR
The APR for the Chase Freedom Flex card is a 19.49% – 28.24% variable, which is high for a card that requires borrowers with good credit histories.
Is the Chase Freedom Flex Right for You?
Chase Freedom Flex is a cashback card for those with good to excellent credit.
The 1% cash back is average but 5% quarterly bonuses increase your cash back. The 5% bonus does have a cap and if you are a bigger spender you may want to look to other cards that offer a higher cap for cash back on all purchases. It does have a generous sign up bonus and introductory APR period, but beware of the transfer fee if wanting to take advantage of the 0% APR.
If you travel overseas – this card should be left at home, with a 3% transaction fee outside of the United States that will eat up your cash back rewards. If you want a card that does not have changing bonuses every quarter or if you do not max out on the bonus categories each quarter – you may want to look for a card that offers higher cash back on all purchases.
Compare The Alternatives
There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the Chase Freedom Card:
|
|
| |
|---|---|---|---|
Wells Fargo Active Cash℠ Card | Chase Freedom Unlimited® | Bank of America® Customized Cash Rewards credit card | |
Annual Fee | $0
| $0
| $0
|
Rewards |
2%
2% cash rewards on purchases (unlimited)
|
1.5% – 5%
5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases
|
1% – 5%
3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings, 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other purchases. The 3% and 2% cash back available on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter (then 1%)
|
Welcome bonus |
$200
$200 cash rewards bonus when you spend $1,000 in purchases in the first 3 months
|
Up to $300
additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year)- worth up to $300 cash back
|
$200
$200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening
|
Foreign Transaction Fee | 3%
| 3%
| 3%
|
Purchase APR | 17.49% to 29.49% variable APR
| 19.49% – 28.24% variable
| 18.24% to 28.24% will apply. A 3% fee (min $0) applies to all balance transfers
|
FAQ
Yes, when you rent the car and pay for all of its cost with this card and do not accept coverage from the rental company. Please review the terms and conditions before to make sure you're covered.
There are no specific income requirements outlined and you will usually not be asked to provide any type of proof of income in order to get one of these cards.
The points don’t expire as long as your account remains open. Therefore, you are able to build them up over time and not worry about having to use them straight away.
To maximize rewards, you should make sure that you take advantage of the bonus categories and leave the other types of purchases that are not covered by an enhanced rate to another card. This is because you will only get 1% cashback on non-covered purchases.
Review Cash Back Credit Cards
Wells Fargo Active Cash
American Express Blue Cash Preferred
American Express Everyday
Bank of America Cash Rewards
Capital One Quicksilver
Capital One QuicksilverOne Cash Rewards
Capital One Savor Rewards
Capital One SavorOne Rewards
Chase Freedom Flex
Chase Freedom Unlimited
Citi Double Cash
U.S. Bank Altitude Go
U.S. Bank Cash+ Visa Signature
SoFi Card
TD Cash Card
Alliant Cash Back Visa Signature
