This credit card is great for people who want no-hassle cashback, which is also maintenance-free. It also offers other supplementary benefits that are better than its rivals. In this Chase Freedom Flex Credit Card review, I’ll list all its features and benefits, so you will know if it’s the right one for you.
The Chase Freedom Flex Credit Card can earn you 5% cashback on your travel expenses, 5% on bonus categories every quarter, and up to $1,500 in combined purchases every quarter. This card is easy to maintain because it does not require an annual fee.
The Chase Freedom Flex offers 3% cashback on drugstore and dining purchases and 1% on other expenses. You have no risk in trying this credit card because of its zero annual fees. But the potential of earning substantial rewards is great.
Read on to learn more about the Chase Freedom Flex Credit Card, its features and benefits, and other things you need to know to determine if it will satisfy your requirements.
About the Chase Freedom Flex Credit Card
Maximum $1,500 Cashback Per Quarter
The Chase Freedom Flex Credit Card can earn you 5% cashback on your travel purchases and 5% cashback in rotating bonus categories that you activate for each quarter. This could lead to a maximum amount of $1,500 cashback for your combined purchases per quarter.
This credit card can earn you 3% cashback and 1% on your everyday purchases for your drugstore and dining expenses. After considering all these earning potentials, it is safe to say that the Chase Freedom Flex Credit Card is a good addition to your credit card collection.
No Annual Fee
The issuer does not require an annual fee, so there’s no risk in trying out this card. This credit card also offers a wide selection of high-earning bonus categories. So, you can save a lot of money if you will use it for eligible purchases.
Chase Issues This Card
Chase, a very major card issuer, launched this credit card on Sept. 14, 2020. The company introduced robust cashback earning opportunities and rotating bonus categories that vary each quarter with this card. Chase partnered with Mastercard to create the Chase Freedom Flex Credit Card.
This credit card is the ideal all-around card for those focused on earning substantial cashback and those just starting.
While it is a top-tier credit card, it is still easier to get approved. It also offers a wide range of benefits considering that it charges no annual fee for its use. If you have a good credit score, it is more than likely that you will get approved. A FICO score starting from 690 and higher will make you eligible.
The minimum credit line for this credit card is $300, and the maximum limit is $20,000. Some cardholders were given a starting limit of $24,000. So it depends on your creditworthiness.
If you have a good credit score, you are more likely to get approved. But even if you are bordering on 690, take a few months and improve your credit. After that, try applying again, and perhaps they will approve your application.
Highlights of the Chase Freedom Flex Credit Card
To give you an overview of what this credit card offers, here are some of its highlights:
- Required Credit Score – 690 to 850 (good to excellent)
- Annual Fee – $0
- Intro APR – 0% on purchases for your first 15 months
- Regular APR – 14.99% to 23.74% (Variable APR)
- Welcome Bonus – $200 after spending $500 on purchases for your first 3 months upon approval and account opening.
- Earn 5% cashback on grocery purchases (excluding Walmart or Target) for up to $12,000 on your first year.
- Get 5% cashback on Chase travel purchases using the Ultimate Rewards, 3% on drugstores and dining, and 1% on the rest of your purchases.
- Earn 5% cashback on combined purchases of up to $15,000 in bonus categories that you activate for every quarter. Choose new categories every quarter according to your needs.
- Intro APR of 0% for your purchases on your first 15 months after opening an account. After that, 14.99% to 23.74% variable APR.
- There is no minimum amount to redeem cashback points.
- There is no expiration dates for cashback as long as your account is active.
Benefits of the Chase Freedom Flex Credit Card
Getting a Chase Freedom Flex Credit Card will enable you to enjoy several benefits. Here are some of the most notable benefits that you will get:
1. Substantial One-Time Bonus
You will earn $200 cash back if you spend $500 on your first three months after your account opening. Other cards call it ‘welcome bonus.’ But their welcome bonuses are not as generous as Chase’s.
2. High-Earning Rewards
Several categories can earn you over the 1% basic cashback rate with Chase Freedom Flex Credit Card. These categories allow as much as 5% cashback. When activated, they include 5% cashback on travel purchases using the Ultimate Rewards and rotating quarterly bonus categories.
For your dining, including eligible dining delivery, and drugstore purchases, you can earn 3% cashback. All other purchases can earn you 1% cashback.
3. Travel Benefits
The Chase Freedom Flex Credit Card comes with trip interruption and cancellation insurance. Chase will give you reimbursement for up to $1,500 per person and $6,000 per trip for non-refundable passenger fares. However, this is only if your trip is canceled or interrupted due to a valid reason. The reasons include severe weather, sickness, and many more.
4. Complimentary DoorDash Pass
If you activate this benefit by Dec. 31, 2021, you will get complimentary membership of DashPass for three months. This is automatically renewed at a 50% discount for the next nine months.
5. Cell Phone Protection
A Chase Freedom Flex Credit Card comes with insurance protection for your mobile device. You have $800 per claim and up to $1,000 per year against cellphone damage or theft listed on your monthly cell phone bill.
The only thing you need to do is to use this credit card to pay that bill. There will be a $50 deductible fee for each claim plus a two-claim limit for each 12-month period.
6. Other Notable Benefits
There are some more benefits that you can take advantage of in using this credit card. They are the following:
- Mastercard World Elite program benefits
- Extended warranty protection
- Purchase protection
- Auto rental collision damage waiver secondary coverage
Again, what does the Chase Freedom Flex Credit Card offer? With Chase Freedom Flex Credit Card, you can earn 5% cash back on your travel expenses and other categories every quarter, which can add up to $1,500. Plus, this card has no annual fee. Thus, easy to maintain.
How to Earn Rewards with the Chase Freedom Flex Credit Card
There are many ways you can earn rewards by using the Chase Freedom Flex Credit Card. The most profitable ones are the following:
- Book your travels through Chase Ultimate Rewards and earn 5% cashback
- Make purchases in quarterly bonus categories and earn 5% cashback. You can earn up to $1,500 in combined purchases every quarter. But you need to activate your chosen bonus categories. Always refer to the yearly bonus calendar of Chase.
- Buy your medicine and other treatment drugs using this credit card and earn 3% cashback
- Pay for your restaurant dining, including delivery and takeout services with this credit card and earn 3% cashback
- Pay for any eligible Lyft services through the Lyft app with this credit card and earn 5% cashback. This offer is good until Mar. 31, 2022.
- Buy all your other everyday purchases using this credit card and earn 1% cashback.
- Convince five friends to get their own Chase Freedom Flex Credit Cards and earn $100 cashback
The cash back that you will earn with this credit card is in the form of Ultimate Rewards points. One Ultimate Rewards point is equivalent to one percent of cashback. The Lyft cashback is a temporary promotion.
All points you have earned do not have any expiry date as long as your account remains active.
How to Redeem Rewards from the Chase Freedom Flex Credit Card
There are several ways you can redeem the cashback points that you have earned from using this credit card. Here are your options.
- Direct Deposit
- Statement of Credit
- Gift Cards
- Apple and Amazom.com purchases
Every point that you redeem through any of these options is worth one cent. With gift cards, its value could be more if there is an ongoing gift card promotion. By redeeming your points for Amazon purchases, each point’s actual value will equal 0.8 cents only.
If you are redeeming your points for travel, you can get a higher value for those points by pairing your Chase Freedom Flex Credit Card with another Chase card that you are using. You can get more information about this on their official website.
Fees of the Chase Freedom Flex Credit Card
This credit card is easy to maintain because there is no annual fee that you have to worry about. And yet, it also requires other fees for its use. What are these fees?
- Foreign Transaction fee – 3% of the amount of the transaction
- Balance Transfer fee – either $5 or 3% of the transfer amount, whichever is higher
- Cash Advance fee – either $5 or 10% of the cash advance, whichever is higher
- Annual fee – $0
Charges of the Chase Freedom Flex Credit Card
There are charges that Chase will tack on your credit card, depending on your transaction. What are these charges?
- Intro Purchase APR – 0% for your first 15 months
- Intro Balance APR – 0% for your first 15 months
- Regular APR – 14.99% to 23.74% Variable
Requirements of the Chase Freedom Flex Credit Card
You must satisfy Chase’s initial requirements to get your credit card application approved. What are these requirements?
- Your credit score must at least be good. This means you should have a FICO Score of 690. Higher will be better if you want to be approved faster.
- You should be of legal age, or at least 18 years old.
- You must be a citizen of the United States
Pros and Cons of the Chase Freedom Flex Credit Card
To complete my Chase Freedom Flex Credit Card review, I will now discuss its pros and cons. Hopefully, this will help you make your decision.
- Generous welcome bonus
- Zero annual fee
- Several categories for high-earning rewards
- Wide variety of bonus categories
- There’s an intro APR period
- Travel insurance coverage
- Cell phone insurance coverage
- Quarterly rotating bonus categories require activation
- 5% cashback for rotating categories is limited
- Low earning rates for other purchases, just 1% cashback
- 3% foreign transaction fee; other credit cards don’t charge this
Conclusion: Chase Freedom Flex Credit Card
If you use the Chase Freedom Flex Credit Card in your travel purchases, you can earn 5% cashback. You can also earn 5% on bonus categories every quarter and up to $1,500 in combined purchases each quarter.
The issuer of this card does not require you to pay an annual fee, so it is straightforward to maintain. This card also has many supplementary benefits that are profitable to consumers. Cardholders have used their Freedom Flex cards for their dining, gas, and travel purchases. So, it is safe to say that this card is worth considering.