Chase Freedom Flex: Rewards, Rewards, Rewards

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Chase is making a big splash in the world of rewards credit cards with the introduction of a brand-new card on September 15 – and it’s a doozy. The Chase Freedom Flex℠ is the latest addition to Chase’s Freedom credit card line, offering a truly unique cashback program that combines rotating 5% categories with ongoing 5% and 3% categories as well.

If there was one word to sum up how to describe Chase Freedom Flex℠’s suite of rewards, it would be generousRight off the bat, Chase Freedom Flex℠offers quarterly rotating 5% cashback categories for things like grocery stores (not including Walmart & Target), internet and phone services, streaming services and more. However, most cards that have 5% cashback categories only offer 1% cash back on purchases outside that category.

Not so with Chase Freedom Flex℠– in addition to the quarterly cashback bonuses, this card has a slew of other categories where cardholders can earn 3% or even 5% cash back on an ongoing basis. That breaks down to:

  • 5% Cash Back in quarterly bonus categories with a $1,500 on spending limit per quarter. If a cardholder maxes out this spending cap each quarter for a year, that could be up to $300 back in their pockets.
  • 5% Cash Back on travel bookings through the Chase Ultimate Rewards portal.
  • 5% Cash Back in the grocery store category (excluding Walmart and Target) until the earlier of the end of your first 12 months or first $12,000 spent.
  • 4% Cash Back on qualifying Lyft rides through 03/2022.
  • 3% Cash Back in the drugstore and dining at restaurants categories. Dining includes takeout and eligible delivery services.

But that’s just the tip of the iceberg. Chase Freedom Flex℠ cardholders also have access to a wide assortment of other bonuses and benefits, including:

  • No annual fee - $0. Zip. Zilch. Nada.
  • 0% Intro APR for the first 15 billing cycles – Cardholders looking to finance a large expense or pay for a big-ticket purchase can enjoy 0% Intro APR on Purchases for 15 months and a 14.99% - 23.74% Variable APR after that.
  • Access to Mastercard World Elite Benefits – Since Chase Freedom Flex℠ is a World Elite Mastercard, cardholders can enjoy discounts on merchants such as Boxed, ShopRunner and Fandango. Plus, cardholders also get cellphone protection of up to $800 per claim with a $50 deductible per claim. Maximum two claims in a 12-month period and $1,000 reimbursement per year.
  • A solid sign-up bonus – New cardholders will Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year..
  • And more – Additional benefits include trip cancellation/trip interruption insurance up to $1,500 per person and $6,000 per trip, extended warranty of additional year on eligible warranties of three years or less and purchase protection for 120 days against damage or theft up to $500 per claim (limited to $50,000 per account).

All of these benefits combine to make Chase Freedom Flex℠ one of the most attractive rewards cards on the market, though there are a few things to be aware of before applying. Because the rotating 5% cashback categories require activation each quarter, cardholders need to be proactive in activating those categories in order to maximize cash back earnings. And while Chase Freedom Flex℠ has no annual fee, there are some other fees associated with the card. For example, the Chase Freedom Flex℠ has a foreign transaction fee of 3% of each transaction in U.S. dollars, so if you’re planning on using this card extensively abroad keep in mind that those fees could add up.

The Bottom Line

When it comes down to it, the sheer breadth of rewards that are on offer from the Chase Freedom Flex℠ is hard to beat. From quarterly rotating 5% cashback categories to 3% cash back on dining to the sizeable sign-up bonus, this card really stands out in the increasingly crowded rewards space.

If you’re frequently dining out or picking up takeout and aren’t deterred by the extra work involved in activating the quarterly 5% cash back categories, Chase Freedom Flex℠ is a great card to add to your wallet.

Chase is making a big splash in the world of rewards credit cards with the introduction of a brand-new card on September 15 – and it’s a doozy. The Chase Freedom Flex℠ is the latest addition to Chase’s Freedom credit card line, offering a truly unique cashback program that combines rotating 5% categories with ongoing 5% and 3% categories as well.

If there was one word to sum up how to describe Chase Freedom Flex℠’s suite of rewards, it would be generousRight off the bat, Chase Freedom Flex℠offers quarterly rotating 5% cashback categories for things like grocery stores (not including Walmart & Target), internet and phone services, streaming services and more. However, most cards that have 5% cashback categories only offer 1% cash back on purchases outside that category.

Not so with Chase Freedom Flex℠– in addition to the quarterly cashback bonuses, this card has a slew of other categories where cardholders can earn 3% or even 5% cash back on an ongoing basis. That breaks down to:

  • 5% Cash Back in quarterly bonus categories with a $1,500 on spending limit per quarter. If a cardholder maxes out this spending cap each quarter for a year, that could be up to $300 back in their pockets.
  • 5% Cash Back on travel bookings through the Chase Ultimate Rewards portal.
  • 5% Cash Back in the grocery store category (excluding Walmart and Target) until the earlier of the end of your first 12 months or first $12,000 spent.
  • 4% Cash Back on qualifying Lyft rides through 03/2022.
  • 3% Cash Back in the drugstore and dining at restaurants categories. Dining includes takeout and eligible delivery services.

But that’s just the tip of the iceberg. Chase Freedom Flex℠ cardholders also have access to a wide assortment of other bonuses and benefits, including:

  • No annual fee - $0. Zip. Zilch. Nada.
  • 0% Intro APR for the first 15 billing cycles – Cardholders looking to finance a large expense or pay for a big-ticket purchase can enjoy 0% Intro APR on Purchases for 15 months and a 14.99% - 23.74% Variable APR after that.
  • Access to Mastercard World Elite Benefits – Since Chase Freedom Flex℠ is a World Elite Mastercard, cardholders can enjoy discounts on merchants such as Boxed, ShopRunner and Fandango. Plus, cardholders also get cellphone protection of up to $800 per claim with a $50 deductible per claim. Maximum two claims in a 12-month period and $1,000 reimbursement per year.
  • A solid sign-up bonus – New cardholders will Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year..
  • And more – Additional benefits include trip cancellation/trip interruption insurance up to $1,500 per person and $6,000 per trip, extended warranty of additional year on eligible warranties of three years or less and purchase protection for 120 days against damage or theft up to $500 per claim (limited to $50,000 per account).

All of these benefits combine to make Chase Freedom Flex℠ one of the most attractive rewards cards on the market, though there are a few things to be aware of before applying. Because the rotating 5% cashback categories require activation each quarter, cardholders need to be proactive in activating those categories in order to maximize cash back earnings. And while Chase Freedom Flex℠ has no annual fee, there are some other fees associated with the card. For example, the Chase Freedom Flex℠ has a foreign transaction fee of 3% of each transaction in U.S. dollars, so if you’re planning on using this card extensively abroad keep in mind that those fees could add up.

The Bottom Line

When it comes down to it, the sheer breadth of rewards that are on offer from the Chase Freedom Flex℠ is hard to beat. From quarterly rotating 5% cashback categories to 3% cash back on dining to the sizeable sign-up bonus, this card really stands out in the increasingly crowded rewards space.

If you’re frequently dining out or picking up takeout and aren’t deterred by the extra work involved in activating the quarterly 5% cash back categories, Chase Freedom Flex℠ is a great card to add to your wallet.

Methodology

Each month, the CompareCards team reviews over 100 credit card offers examining the features most valuable to consumers including rewards, sign-up bonus, the interest rate, fees and other features to identify the best offers shown here.