Chase Freedom Flex Review

Chase Freedom Flex Benefits

Rotating Bonus Categories

The 5% cash back calendar is arguably the main attraction of the Chase Freedom Flex. Each quarter, Chase announces new bonus categories like grocery stores, gas stations or Amazon purchases. As long as you activate the quarterly bonus, you can earn 5% back on up to $1,500 in combined bonus category purchases (then 1%) every three months.

If you remember to activate and plan your spending wisely, you could earn up to $75 in cash back each quarter. That’s up to $300 in total cash rewards per year from quarterly bonus category earnings alone.

Ongoing Rewards

While the rotating bonus categories can be generous, the fixed rewards bonus categories that the Freedom Flex offers are another big plus. The card features ongoing rewards, including:

• 5% on travel purchases from Chase Travel℠
• 3% on dining at restaurants, including eligible takeout and delivery
• 3% on drugstore purchases
• 1% cash back on all other eligible purchases

The cash back you earn when you use your card for non-rotating bonus category purchases is unlimited. So, you can earn unlimited bonus rewards on eligible Chase Travel, dining and drugstore transactions.

Redeeming Rewards

Although the Freedom Flex is framed as a cash-back credit card, it actually earns Chase Ultimate Rewards® points.

When you’re ready to redeem your rewards, you can:

• Redeem points for cash: Each point is worth 1 cent. You have the option to redeem points for cash as a statement credit or in the form of an electronic deposit to your bank account.
• Combine points: If you have another Chase credit card, like the Chase Sapphire Reserve, you can combine your point balances across multiple Chase cards. From there, you could redeem your points in the Chase Travel portal or transfer them at a 1:1 ratio to Chase travel partners for potentially more valuable redemption options.
• Other redemption options: If you don’t want cash back or to combine your points with another Chase card, you can also redeem your rewards for gift cards or pay with points for eligible products and services. But keep in mind that these options tend to offer less value compared to alternative redemptions.

It’s also worth noting that the rewards you earn don’t expire, as long as your account remains open and in good standing. Still, if you want to maximize your rewards it’s typically not wise to hold onto the points you earn for an extended period. Point values are subject to change and the overall value of any credit card rewards program may adjust over time.

Additional Benefits

You can also take advantage of the following perks:

• Cell phone protection: If you pay your cell phone bill with your card, you can enjoy up to $800 in cell phone protection per eligible theft or damage claim. Cell phone protection maxes out at $1,000 per 12-month period, and a $50 deductible per claim applies.
• Purchase protection: You can get purchase protection on eligible items — up to $500 per item — against any damage or theft for 120 days.
• Extended warranty protection: You can extend eligible U.S. manufacturers’ warranties by an additional year on eligible purchases.
• Trip cancellation and interruption insurance: Receive up to $1,500 in reimbursement per traveler (maximum of $6,000 per trip) for eligible travel costs if you have to cancel or cut your trip short due to illness, severe weather or other covered reasons.
• Car rental insurance: When you use your card to pay for your rental and decline the agency’s collision damage waiver (CDW), you can be covered for vehicle damage and theft. This coverage is secondary in the U.S., which means it only reimburses costs not covered by your personal insurance policy, if you have one.

Chase Freedom Flex Drawbacks

Limited Travel Benefits

While the benefits above are decent for a no-annual-fee credit card, the Freedom Flex doesn’t have elite travel perks. The card lacks airport lounge access, hotel upgrades, and TSA PreCheck application fee credits, and its trip cancellation and interruption insurance limits are low.

If you’re a frequent traveler, it could make sense to pair the Chase Freedom Flex with a premium travel rewards card to help unlock more potential value.

Cap on Bonus Categories

After you spend $1,500 in combined purchases in the 5% bonus categories each quarter, your maximum earnings drop to 1% for additional transactions in those categories. So, if you’re a big spender, consider adding another rewards credit card to maximize earnings when you exceed this limit, and for spending that doesn’t fit into the Freedom Flex’s quarterly and bonus categories.

Who Is the Chase Freedom Flex Best For?

The Chase Freedom Flex could be a good fit for people who want to maximize cash back on everyday purchases without paying an annual fee. But it makes the most sense for those who don’t mind doing a little extra legwork, like activating and tracking quarterly bonus categories, in exchange for higher rewards rates.

This card is also a strategic choice for people who already carry a Sapphire Preferred Card or Sapphire Reserve. When you pair the Freedom Flex with a premium Chase Ultimate Rewards card, you can combine the points you earn and redeem them for more value through Chase Travel or transfer them to Chase travel partners for better possible redemption opportunities.

Is It the Right Card for You?

The Chase Freedom Flex is a smart card to carry in your wallet if you:

• Want to earn elevated cash rewards in several bonus categories each quarter
• Don’t mind activating and tracking rotating bonus rewards categories
• Already carry a premium Chase Ultimate Rewards credit card
• Prefer no-annual-fee credit cards
• Shop frequently at drugstores or dine out often

Alternatives to the Chase Freedom Flex

If you’re unsure about rotating rewards categories or you simply prefer a simpler rewards card, here are two alternatives to the Chase Freedom Flex you might want to consider:

• Discover it® Cash Back: Like the Freedom Flex, this no-annual-fee card offers 5% cash back in rotating bonus categories — up to $1,500 per quarter after activation, then you earn 1%. New cardholders also benefit from Cashback Match®, where Discover matches all the cash back you earn at the end of your first year. The card features a 0% Intro APR on purchases and on balance transfers for 15 months, then 18.24% – 27.24% Variable APR (balance transfer fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*).
• Chase Freedom Unlimited®: The Chase Freedom Unlimited is a no-annual-fee rewards card that features a 1.5% flat cash back rate on all eligible purchases with no cap. It also earns 5% cash back on travel bookings through Chase Travel℠, plus 3% on dining and drugstore purchases. New cardholders can earn a $200 bonus after spending $500 on purchases in the first three months from account opening.