Overview
Freedom Flex Card Snapshot
Annual Fee: $0
Recommended FICO Score: 670 – 850
Interest Rate: 14.99% – 23.74%
SignOn Bonus: $200 after $500 in 3 months
Card Type: Cashback
Best For: Travel, groceries, dining out and drugstore purchases.
The Chase Freedom Flex card is a great card to add to your wallet as it offers high reward rates across different categories that give 1 – 5% returns. Furthermore, the value of your reward points can be maximized when pooled with other Chase cards (such as the Reserve or Preferred Sapphire cards) and then used on the Chase Ultimate Rewards portal to book your travels. This card offers exceptional value to anyone who applies for it.
Reward Offering
The Sign On Bonus
Chase Freedom Flex card has a sign-bonus where you can earn a $200 bonus after you spend $500 on purchases in your first 3 months from account opening.
Reward Multiplier
5%
Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate.
5%
Earn 5% cash back on travel purchased through Chase Ultimate Rewards.
5%
Earn 5% cash back on Lyft rides through March 2022.
3%
Earn 3% cash back on dining at restaurants, including takeout and eligible delivery services.
3%
Earn 3% cash back on drugstore purchases.
1%
Earn 1% on all other purchases.
Other Benefits
0% Intro APR for the first 15 months that your Account is open. After that, 14.99% to 23.74%.
Redeem rewards as: cashback, amazon points, gift cards or on travel purchases through Chase Ultimate Rewards portal.
Get a complimentary 3 months of DashPass, DoorDash’s subscription service that provides unlimited deliveries for a $0 delivery fee on eligible orders over $12 on DoorDash and Caviar (other fees may apply). After that, you are automatically enrolled in DashPass at 50% off for the next 9 months. Activate by March 31, 2022.
Cellphone protection: get up to $800 per claim and $1,000 per year in cell phone protection against covered theft or damage for phones .
Purchase protection: Covers your new purchases for 120 days against damage or theft up to $500 per claim and $50,000 per account.
Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver and more.
$0 fraud liability.
Point Redemption
The great thing about Chase’s cards is that their rewards are issued in points (even for their cashback cards) which in turn can be redeemed a number of different ways. Depending on how you redeem them, each points may be worth 1 – 2 cents. Using your points on Chase Ultimate Reward portal or transferring them to a partner loyalty program will get you the max value for your points. Refer to the below table for an overview of how your points will be valued based on your redemption method.
| Redemption Type | Value Per Point |
|---|---|
| Statement Credits | 1 cent |
| Cash Back | 1 cent |
| Gift Cards | 1 cent |
| Chase Ultimate Rewards | 1.25 cent |
| Transfer To Airline And Hotel Partners | >1.25 cent |
Chase Travel Partners
Below is list of Chase airline and hotel partner programs you can transfer your points to:
- Air Canada (Aeroplan).
- Aer Lingus.
- Air France-KLM.
- British Airways.
- Emirates.
- Iberia.
- JetBlue.
- Singapore.
- Southwest.
- United.
- Virgin Atlantic.
- Hyatt.
- InterContinental.
- Marriott.
Who Is This Card Suited For
The Chase Freedom Flex card is a powerful card that can be used multiple ways depending on the needs of the person:
If you are looking for a no-fee cash back card then the Chase Freedom Flex card is a great option to consider. It has a rich reward structure where you earn: 5% by booking travel through Chase Ultimate Rewards portal and categories that rotate every quarter. You also get 3% back on dining out and on drugstore purchases, after that all other purchases get you 1%. This is an extremely generous return for this class of card. If you hit the limit for grocery shopping and the category spending then that would get you $675. With the $200 sign-on bonus that’s $875 for the first year!
If you are looking to maximize your reward points for travel you can pool your points with other cards like the Sapphire Preferred or Sapphire Rewards. Those points could then be used on the Ultimate Rewards portal where the value of your points increases from 1 cent to to 1.25 or 1.5 cents depending on the card that you have.
Either way, this is a great card to consider especially since there is no associated annual fee.
Key Benefits:
- A rich reward structure (ranging from 1% to 5% returns).
- Ability to maximize point value by combining with other Chase Cards.
- No annual fee.
Key Drawbacks:
- Bonus categories might not match your spending habits.
- Requires effort to track spending across categories.
- Not optimized for international travelers (3% foreign transaction fee and no travel perks).
Card Fees And Expenses
| Annual Fee | $0 |
| Foreign Transaction Fee | 3% of the amount of each transaction in U.S. dollars. |
| Interest Rates | 0% Intro APR for the first 15 months that your Account is open. After that, 14.99% to 23.74% |
| Late Fees | up to $40 APR up to 29.99% |
| Balance Transfers | 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% of the amount of each transfer, whichever is greater. 0% Intro APR for the first 15 months that your Account is open. After that, 14.99% to 23.74% |
| Cash Advance | Either $10 or 5% of the amount of each transaction, whichever is greater. APR 24.99%. |
