Chase Freedom Flex credit card review: A $200 bonus, up to 5x in popular categories, and World Elite Mastercard perks with no annual fee

January 11, 2022 OSTN Staff

This post contains links to products from our advertisers, and we may be compensated when you click on these links. Our recommendations and advice are ours alone, and have not been reviewed by any issuers listed. Terms apply to offers listed on this page. Read our editorial standards.

Review: Is the Chase Freedom Flex the best credit card for you?

If you want a credit card that earns up to 5x bonus rewards without paying an annual fee, the Chase Freedom Flex℠ is a great choice. With excellent bonus categories and a solid welcome bonus of Chase Freedom Flex℠, opening and using the card is an excellent way to supercharge your rewards earnings on everyday spending.

In addition, new cardholders can earn 5% cash back (5x points) at grocery stores (excluding Target and Walmart) on up to $12,000 in spending during the first year of account opening (then 1x).

The Chase Freedom Flex℠ is marketed as a cash-back credit card, but it actually earns Chase Ultimate Rewards points, which you can redeem for cash back, travel, merchandise, and more. Cardholders can earn 5% cash back (5x points) on up to $1,500 in combined spending in categories that rotate every quarter when they activate the bonus.

For example, the Chase Freedom 5x categories for the first quarter of 2022 (January through March) are grocery stores and eBay — and just about every household has grocery expenses.

The Chase Freedom Flex℠ also earns 5% cash back (5x points) on travel booked through the Chase Travel Portal, 3% back (3x points) on drugstore and dining purchases (including takeout and eligible delivery services), and 1% back (1x points) on everything else. If you hold other Chase credit cards that earn Ultimate Rewards points, you can pool your points into one account and potentially increase their value.

Because it’s a World Elite Mastercard, the Chase Freedom Flex℠ comes with an outstanding range of benefits — including some you might not expect from a no-annual-fee card, like cell phone protection and purchase protection.

If you’re thinking of opening the Chase Freedom Flex℠, you should also consider the Chase Freedom Unlimited®, which comes with the same intro bonus but has different earning categories. And if you’re after a big welcome bonus, the Chase Sapphire Preferred® Card is worth a look — it’s offering Chase Sapphire Preferred® Card after you spend $4,000 on purchases in the first three months, but there is a Chase Sapphire Preferred® Card annual fee.

Read more: Chase Sapphire Preferred card review

Comparison: Chase Freedom Flex vs other Chase credit cards

	Chase Freedom Flex℠	Chase Freedom Unlimited®	Chase Sapphire Preferred® Card
Annual fee	Chase Freedom Flex℠	Chase Freedom Unlimited®	Chase Sapphire Preferred® Card
Rewards rate	5% cash back (5x points) on travel purchased through Ultimate Rewards 5% cash back (5x points) on up to $1,500 in purchases each quarter in rotating bonus categories when you activate 3% cash back (3x points) on dining and drugstore purchases 1% cash back (1x points) on everything else	5% cash back (5x points) on travel purchased through Ultimate Rewards 3% cash back (3x points) on dining and drugstore purchases 1.5% cash back (1.5x points) on everything else	5x points on travel purchased through Chase Ultimate Rewards 5x points on Lyft rides through March 2022 3x points on dining and online grocery purchases (excluding Target, Walmart, and wholesale clubs) 3x points on select streaming services 2x points on all other travel purchases 1 point per dollar on all other purchases
Welcome bonus	Chase Freedom Flex℠ 5% cash back (5x points) at grocery stores (excluding Target and Walmart) on up to $12,000 in spending during the first year of account opening (then 1x)	Chase Freedom Unlimited® 5% cash back (5x points) at grocery stores (excluding Target and Walmart) on up to $12,000 in spending during the first year of account opening (then 1x)	Chase Sapphire Preferred® Card after you spend $4,000 on purchases in the first three months of account opening
Card benefits	Cell phone protection Car rental insurance (secondary in the US, primary otherwise) Trip cancellation/interruption insurance Purchase protection Extended warranty Travel and emergency assistance services 0% APR on purchases and balance transfers for the first 15 months, then a Chase Freedom Flex℠ APR	Purchase protection Extended warranty Car rental insurance (secondary in the US, primary otherwise) Trip interruption/cancellation insurance Travel and emergency assistance services 0% intro APR on purchases and balance transfers for the first 15 months, then a 14.99%–23.74% variable APR	Primary car rental insurance Trip interruption/cancellation Trip delay insurance Baggage delay insurance Lost luggage reimbursement Extended warranty Purchase protection Travel and emergency assistance services Travel accident insurance Roadside dispatch No foreign transaction fees
Review		Chase Freedom Unlimited card review	Chase Sapphire Preferred card review

Chase Freedom Flex vs other cash-back credit cards

	Chase Freedom Flex℠	Citi Custom Cash℠ Card	Discover it® Cash Back
Annual fee	Chase Freedom Flex℠	Citi Custom Cash℠ Card	Discover it® Cash Back
Rewards rate	5% cash back (5x points) on travel purchased through Ultimate Rewards 5% cash back (5x points) on up to $1,500 in purchases each quarter in rotating bonus categories when you activate 3% cash back (3x points) on dining and drugstore purchases 1% cash back (1x points) on everything else	5% cash back on up to $500 spent in your top eligible spending category* each billing cycle (then 1%) 1% cash back on all other purchases	5% cash back in categories that rotate each quarter on up to $1,500 in combined spending when you activate (then 1%) Discover It Cashback rotation 1% cash back on all other eligible purchases
Welcome bonus	Chase Freedom Flex℠ 5% cash back (5x points) at grocery stores (excluding Target and Walmart) on up to $12,000 in spending during the first year of account opening (then 1x)	Citi Custom Cash℠ Card	None, but Discover will dollar for dollar match all the cash back you earned after the first 12 months
Card benefits	Cell phone protection Car rental insurance (secondary in the US, primary otherwise) Trip cancellation/interruption insurance Purchase protection Extended warranty Travel and emergency assistance services 0% APR on purchases and balance transfers for the first 15 months, then a Chase Freedom Flex℠ APR	Access to Citi Entertainment 0% APR on purchases and balance transfers for the first 15 months (then a Citi Custom Cash℠ Card APR)	Free FICO score No late payment fee on your first late payment (then up to $40) 0% APR on purchases and balance transfers for the first 14 months, then a Discover it® Cash Back APR No foreign transaction fees
Review		Citi Custom Cash card review	Discover it Cash Back card review

*eligible 5% cash back categories on the Citi Custom Cash℠ Card are restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs, and live entertainment

How to earn rewards with the Chase Freedom Flex

You’ll earn the most rewards from the Chase Freedom Flex℠ if you take advantage of the card’s quarterly rotating bonus categories. It offers 5% cash back (5x points) on up to $1,500 in combined spending in these categories each quarter once you activate the bonus (then 1% back).

For the first quarter of 2022, the bonus categories are grocery stores and eBay, but in previous quarters we’ve seen other helpful categories and merchants, like PayPal, gas stations, streaming services, and Amazon.

Outside of these bonus categories, Chase Freedom Flex℠ cardholders can also earn bonus rewards on other purchases:

5% back (5x points) on travel booked through the Chase Ultimate Rewards travel portal (including airfare, hotels, car rentals, cruises, and activities)
3% back (3x points) on dining (including takeout and eligible delivery services)
3% back (3x points) at drugstores
1% back (1x points) on everything else

In addition, new cardholders earn 5% cash back (5x points) at grocery stores (excluding Target and Walmart) on up to $12,000 in spending during the first year of account opening (then 1x).

How to redeem Chase Ultimate Rewards points

The Chase Freedom Flex℠ is very popular, and it’s for good reason. Chase Ultimate Rewards points are incredibly flexible, and you’ve got lots of options for redemption, including:

Cash back (1 cent per point)
Gift cards (1 cent per point)
Airfare, hotels, car rentals, and more through the Chase Ultimate Rewards travel portal (1 cent per point)
Apple purchases (1 cent per point)
Pay Yourself Back (1.25 cents per point toward eligible charities through December 31, 2022)
Amazon and PayPal purchases (0.8 cents per point)

The last option is best avoided — you’ll get a better deal if you pay for an Amazon purchase with your card, then use points at 1 cent apiece for a statement credit. Otherwise, you’ll get inferior value when you pay with points at Amazon checkout. The same applies to PayPal.

The Chase Freedom Flex℠ is worth considering on its own, but you can actually boost the value of your rewards when you pair it with certain other Chase credit cards, including the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, and Ink Business Preferred® Credit Card.

Chase allows you to transfer Ultimate Rewards points between accounts, and by moving your points to one of these cards, you’ll unlock more valuable redemption options — including the ability to transfer points to Chase’s airline and hotel partners. You’ll also have more ways to redeem points through Chase’s Pay Yourself Back program.

For example, with the Chase Sapphire Reserve®, your points are worth 1.5 cents apiece when you book travel through the Chase travel portal or redeem through Pay Yourself Back. Pairing a Chase Freedom card with the Chase Sapphire Reserve® is one of the best ways to get the most from your Chase Ultimate Rewards points, especially if you like to use points for travel.

Benefits and features

The Chase Freedom Flex℠ comes with substantial purchase and travel protections, including select World Elite Mastercard benefits that you don’t often find on no-annual-fee cards.

Cell phone protection

When you use the Chase Freedom Flex℠ card to pay your monthly wireless bill, you’re eligible for cell phone protection against covered theft or damage, up to $800 per claim and $1,000 per year. There’s a $50 deductible per claim and a maximum of two claims per 12-month period.

Purchase protection

When you pay for an eligible new purchase with your Chase Freedom Flex℠, you’ll be covered for damage or theft for 120 days, up to $500 per claim and $50,000 per account.

Extended warranty

Eligible items you purchase with the Chase Freedom Flex℠, with a manufacturer’s warranty of three years or less, can receive an additional year of extended warranty coverage.

Car rental insurance

When you decline the rental company’s collision insurance and charge the entire rental cost to your Chase Freedom Flex℠, you’re covered for theft and collision damage on most cars. In the US, coverage is secondary to your personal insurance — otherwise, it’s primary insurance.

Trip cancellation and interruption insurance

If you pay with your Chase Freedom Flex℠, you’re covered for up to $1,500 per person and $6,000 per trip if your trip is canceled or shortened because of illness, severe weather, or other eligible events.

Travel and emergency assistance services

If you’re away from home and run into trouble, you’ll have access to a travel and emergency assistance hotline that can help arrange things like legal and medical referrals, prescriptions, translation services, and more. Keep in mind any third-party costs are your responsibility.

Bonus points on Lyft purchases

You’ll earn 5% cash back (5x points) on purchases made with Lyft through March 2022.

Complimentary DoorDash DashPass membership

Chase Freedom Flex℠ cardholders receive a complimentary three months of DashPass, which gets you $0 food delivery fees and reduced service fees on orders of $12 or more with DoorDash and Caviar. After that, you’ll receive a 50% discount on your DashPass membership for the next nine months. Activation is required by March 31, 2022.

Other World Elite Mastercard benefits

Because the Chase Freedom Flex℠ is a World Elite Mastercard, you’ll have access to other perks, including:

Lyft: Pay for three rides in a calendar month with your card and receive a $5 Lyft credit
Fandango: Spend $20 at Fandango or on Fandango’s streaming service and get a $5 Fandango Reward
Hello Fresh: Use your card to purchase a HelloFresh meal kit delivery plan, and receive 5% back to use toward your next delivery
Shoprunner: Receive a complimentary one-year ShopRunner membership and get free two-day shipping and free returns at over 100 merchants

Monthly Gopuff credits

The Chase Freedom Flex℠ offers $10 per month in Gopuff credits when you add your card as the default payment method of your Gopuff app. Gopuff is a service that offers fast delivery of everyday items like food, alcohol, electronics, and medicine.

You’ll receive the credit automatically when you make a qualifying purchase with Gopuff. There’s a minimum order amount of $10.95, and a flat $1.95 delivery fee per order. This promotion ends December 31, 2023.

Fees and costs

The Chase Freedom Flex℠ doesn’t charge an annual fee, so it’s a great long-term keeper card. Having a card open for a long time can increase your average credit age and potentially boost your credit score.

For the first 15 months, the card offers a 0% introductory APR on purchases and balance transfers. After that, there’s a a Chase Freedom Flex℠ APR. This is handy if you have large purchases coming up that you want to pay for over time without incurring huge interest charges, but be sure to have a plan and means to pay off your balance before the introductory APR period expires.

As with most other cards, there are fees for balance transfers, cash advances, and late or returned payments. The Chase Freedom Flex℠ does charge foreign transaction fees, so it’s not a good choice for international purchases. Instead, if you’re traveling abroad, be sure to pack one of the best credit cards with no foreign transaction fees to avoid unnecessary charges.

Read the original article on Business Insider

One Stop Trending News