Chase Freedom Flex Review 2024

• Chase Freedom Flex Credit Card Introduction
• Chase Freedom Flex Credit Card Quick Facts
• What Is the Chase Freedom Flex Best For?
• Chase Freedom Flex Rewards
• Introductory Rates
• Chase Freedom Flex Benefits
• Our Experience Using the Chase Freedom Flex
• Chase Freedom Flex Rates, Fees & Regulations
• How the Chase Freedom Flex Stacks Up
• Is the Chase Freedom Flex Worth It?
• Methodology
• Frequently Asked Questions (FAQs)

If you want to power up your points-earning potential and you’re partial to Chase Ultimate Rewards®, the Chase Freedom Flex® will add muscle to your wallet. Anyone can warm up to the idea of a rewards card without an annual fee, but the Freedom Flex can hold its own with many annual fee-carrying cards too.

With this card, you’ll earn 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases.

The Freedom Flex’s rewards structure competes with—and in some cases outearns—two other Chase-branded credit cards: the ultra-premium Chase Sapphire Reserve® and the midrange Chase Sapphire Preferred® Card, both of which carry annual fees.

Know that existing Freedom cardholders can request a product change to the Freedom Flex from the original Freedom card (not currently available to new applicants), which Forbes Advisor recommends. This will allow you to utilize the new category bonuses without having to ding your credit score or affect your 5/24 status with a new application.

The Freedom Flex runs on the Mastercard network and comes with World Elite Mastercard benefits like cellphone insurance.

• $0 annual fee
• Welcome bonus: Earn a $200 bonus after spending $500 on purchases in the first 3 months from account opening
• Earn 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases
• Rewards are typically worth 1 cent each and can be redeemed for cash back, a statement credit, gift cards or travel
• Mastercard World Elite benefits

The Chase Freedom Flex® is handy for just about all your credit card spending. It earns 3% back in some of the most common categories, plus 5% through Chase Travel. This card is also featured and holds a place in a number of our “Best Cards” lists.

• Best Credit Cards
• Best Balance Transfer Cards
• Best Travel Credit Cards
• Best Cash-Back Credit Cards
• Best Credit Cards for Young Adults
• Best Rewards Credit Cards
• Best Instant Approval Cards 
• Best Credit Cards for College Graduates
• Best No Annual Fee Credit Cards
• Best Cash-Back Credit Cards with No Annual Fee

Earning Rewards

The Freedom Flex comes with a welcome bonus: Earn a $200 bonus after spending $500 on purchases in the first 3 months from account opening.

Cardholders also earn:

• 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation)
• 5% cash back on travel purchased through Chase Travel℠
• 3% cash back on dining purchases
• 3% cash back on drugstores purchases
• 1% cash back on all other purchases

Redeeming Rewards

Redemption options on the Freedom Flex include:

• Travel booked through Chase Travel℠ (1 cent per point)
• Statement credit (1 cent per point)
• Direct deposit (1 cent per point)
• Gift cards (1 cent per point)
• Amazon purchases (0.8 cents per point)

Rewards never expire if your account remains open and in good standing. Earnings on the Freedom Flex can be worth even more when combined with the earnings on a card like the Chase Sapphire Preferred® Card, Chase Sapphire Reserve® or the Ink Business Preferred® Credit Card.

Or you could maximize your earnings by transferring your Chase Ultimate Rewards® points to Chase’s airline and hotel partners including United, Southwest Airlines and Hyatt. This is only available if you also hold one of the cards for which transfers are permitted.

Rewards Potential

To determine the Chase Freedom Flex’s rewards potential, we examine the bonus categories and calculate what an average household might spend in those areas. Chase doesn’t release the quarterly categories for the Freedom Flex card far in advance, so we compared four recent quarterly categories announced in the past year for the Freedom Flex card.

• Q1 2024: Grocery stores (excluding Walmart and Target), fitness clubs and gym memberships, self-care and spa services
• Q2 2024: Amazon.com, hotels and restaurants
• Q3 2024: Gas stations, EV charging, select live entertainment and movie theaters

Forbes Advisor uses data from various government agencies to determine baseline income and spending averages across various categories. The 70th percentile of wage-earning households brings in $118,438 annually and has $39,337 in annual expenses that can reasonably be charged to credit cards.

Chase maxes out quarterly earnings bonuses at $1,500 per quarter or $6,000 per year. A Chase Freedom Flex® cardholder will earn 30,000 Chase Ultimate Rewards® from the quarterly bonus categories alone when maximized.

In addition to the quarterly categories, Chase offers the following spending categories:

• 5% on travel purchased through Chase Travel℠
• 3% on dining purchases, including takeout and eligible delivery services
• 3% on drugstore purchases
• 1% unlimited cash back on all other purchases

Chase Freedom Flex® Rewards Potential

Category	Earning Rate	Estimated Annual Spend	Estimated Annual Earnings
5% Categories	5X	$6,000	30,000
Travel Purchased Through Chase Travel℠	5X	$8,573	42,865
Dining and Drugstores	3X	$5,403	16,209
All Other Purchases	1X	$19,361	19,361
			Total: 108,435 Ultimate Rewards points

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If the 108,435 points are redeemed for cash back, this will result in $1,084.35 in earnings.

The Chase Freedom Flex® offers a 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24% applies. Balance transfer fee of up to 5% (min. $5) of the amount of each transfer applies.

The Chase Freedom Flex Benefits make it a strong no-annual fee card. The Chase Freedom Flex® comes with the following benefits, including several World Elite Mastercard benefits that included with the card:

• Extended warranty and purchase protections. Extends the time period of the U.S. manufacturer’s warranty by an additional year, on eligible warranties of three years or less, and covers your new purchases for 120 days against damage or theft up to $500 per claim and $50,000 per account.
• Cellphone insurance. Up to $800 per claim and $1,000 per year in cellphone protection against theft or damage for phones listed on cardmembers’ monthly bills when paid with the card.
• DashPass membership. Complimentary three-month DashPass membership and then 50% off DashPass the following nine months. Activate by January 31, 2025.

Chase Freedom Flex Travel Benefits

• Auto rental collision damage waiver. Get secondary coverage for your rental when you decline the rental company’s collision insurance and charge the entire rental cost to your card.
• Trip cancellation and interruption insurance. Reimbursement up to $1,500 per person and $6,000 per trip for your prepaid, nonrefundable passenger fares if your trip is canceled or cut short by sickness, severe weather and other covered situations.
• Bonus cash back on Lyft rides. Earn 5% in total cash back on qualifying Lyft rides through March 31, 2025.

Chase Freedom Flex Balance Transfer Benefits

• Intro APR offer. Get a 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24% applies. Balance transfer fee of up to 5% (min. $5) of the amount of each transfer applies.
• Intro balance transfer fee. Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days.

Chase Freedom Flex Cash Back Benefits

• Quarterly Bonus Categories. Earn 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases.
• Cash Back rewards are tracked as points. $1 in Cash Back rewards is equal to 100 Chase Ultimate Rewards® points.

I’ve had the Chase Freedom Flex for a while and it’s a card that I still use on a regular basis.

How I Use the Chase Freedom Flex To Earn Maximum Points

I have been eyeing the Chase Freedom Flex® due to the 5% rotating bonus categories each quarter, but I was always hesitant that I couldn’t maximize the $1,500 spending cap. I knew I had to devise a plan to take advantage of the welcome offer while also utilizing the rotating bonus categories.

Luckily, the quarterly bonus category offered when I applied for the Chase Freedom Flex was easy for me to hit. At first glance, the Q2 2024 bonus categories were set for purchases made on Amazon, hotels, and restaurants. To my surprise, Amazon purchases also included purchases made at Amazon Fresh and Whole Foods grocery stores.

I will continue to monitor the Chase Freedom Flex® bonus calendar and register for the rotating 5% bonus categories each quarter. If I maximize the quarterly bonus categories, I can earn 7,500 Chase Ultimate Rewards® or $75 in cash back each quarter. This has the potential to earn me 30,000 Chase Ultimate Rewards® or $300 cash back each year, all for no annual fee. This makes the Chase Freedom Flex® credit card a keeper for the long term.

By adding the Freedom Flex to my wallet, I have finally reached my goal of completing the Chase Trifecta, a combination of Chase Ultimate Rewards® cards that can boost my earning potential across all purchases. The Chase Freedom Flex® will be used to maximize the rotating bonus categories, my Chase Sapphire Preferred® Card will be used for all my dining and travel purchases, and my Chase Freedom Unlimited® will be used for any non-bonus category spend.

I will most likely only use the Freedom Flex to maximize the welcome offer and the rotating quarterly bonus categories. Other cards in my wallet offer higher or similar multipliers for travel and dining spending.

How I Maximize My Chase Freedom Flex Rewards

The Chase Freedom Flex® is advertised and promoted as a cash-back credit card, but it doesn’t earn straight cash back. It earns Chase Ultimate Rewards® that can be redeemed for cash back, and 1,000 points are valued at $10 in cash back.

If the Freedom Flex is the only Chase Ultimate Rewards® earning credit card you have, you’re limited to redemption options that carry a value of 1 cent per point, like cash back and gift cards. You have more redemption options if you have a premium Chase Ultimate Rewards® credit card that allows you to transfer your rewards® to travel partners.

In addition to the Chase Freedom Flex®, I also have the Chase Sapphire Preferred® Card and the Ink Business Preferred® Credit Card. Both cards give me the ability to transfer my Chase Ultimate Rewards® to travel partners at full 1:1 value. That means I can transfer Chase Ultimate Rewards® earned from my Freedom Flex to either my Sapphire Preferred® or my Ink Business Preferred® card and then transfer them directly to Chase Ultimate Rewards® transfer partners. This is one of the best ways to use Chase points.

Combining cards and points this way gives me the potential to enhance the value of my Ultimate Rewards® earned from the Freedom Flex card by transferring them 1:1 to Chase’s travel partners. If I redeem my Ultimate Rewards® for travel through the Chase Travel℠ portal, I only get 1 cent per point in value with the Freedom Flex and I get 1.25 cents per point with my Sapphire Preferred®. That extra value is nice, but it’s often still a better deal to transfer my points to partners.

For example, if there is a Hyatt hotel I want to book that costs a total of $240 per night, I would need to redeem 19,200 Chase Ultimate Rewards® per night if I booked through the Chase Travel℠ portal with my Sapphire Preferred®. If that same Hyatt hotel was available to book for 12,000 Word of Hyatt points per night, and I had a Chase Ultimate Rewards® credit card that transferred to travel partners, I could transfer 12,000 Ultimate Rewards® to 12,000 World of Hyatt points and book the hotel for less than booking through the Chase Travel℠ portal.

I prefer to transfer my Chase Ultimate Rewards® to travel partners to maximize the value of my points. Some of my favorite travel partners are Hyatt, United Airlines and Air Canada.

Interest Rates

• Regular APR: 20.49%-29.24% Variable
• Purchase intro APR: 0% Intro APR on Purchases for 15 months
• Balance transfer intro APR: 0% Intro APR on Balance Transfers for 15 months

Chase Freedom Flex Fees

• Annual fee: $0
• Balance transfer fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
• Foreign purchase transaction fee: 3% of each transaction in U.S. dollars

Chase Freedom Flex® vs. Chase Freedom Unlimited®

Although the name is similar, the two cards have quite a few differences. Unlike the tiered rewards on the Freedom Flex, the Chase Freedom Unlimited® earns an easy-to-digest 5% cash back on travel purchased through Chase Travel℠, 3% cash back on eligible dining and drugstores and 1.5% on all other purchases, plus an additional 1.5% cash back on the first $20,000 in purchases the first year. The Freedom Unlimited does not offer rotating quarterly categories. This may be a simpler rewards plan for some.

An even better plan might be to own both cards. Use the Freedom Flex for the quarterly categories and the Freedom Unlimited on everything else. A card grouping like this can yield richer returns than just owning one of the cards.

Read more. Chase Freedom Unlimited vs. Chase Freedom Flex

Chase Freedom Flex® vs. Chase Sapphire Preferred® Card

Another popular credit card, the Chase Sapphire Preferred® Card earns fully-fledged Ultimate Rewards points. Often, people may choose to carry both cards, but choosing just one or the other is a solid option, too.

The Sapphire Preferred offers consistent bonus categories year-round, earning 5 points per dollar on travel purchased through Chase Travel℠, 3 points per dollar on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per dollar on all other travel purchases and 1 point per dollar on other purchases. You’ll also get a 10% Ultimate Rewards bonus from the previous year’s spending on your card anniversary.

Someone making use of the rotating categories on the Freedom Flex could potentially out-earn the Sapphire Preferred and save on the $95 annual fee, too. However, the Sapphire Preferred also rocks benefits like an annual hotel credit and the ability to transfer Ultimate Rewards points to partnering travel loyalty programs.

Chase Freedom Flex® vs. Blue Cash Preferred® Card from American Express

If your budget is spent more on cooking at home and getting around locally, the Blue Cash Preferred® Card from American Express (Terms apply, see rates & fees) may be a more rewarding fit. It carries a $0 intro annual fee for the first year, then $95.

The card offers the following rewards: Earn 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more) and 1% cash back on other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.

The card also offers perks, including Amex Offers and access to Amex’s Global Assist hotline¹.

Ask an expert

Is the Chase Freedom Flex Worth It?

Robin Frankel

Credit Cards Writer

Toni Perkins-Southam

Credit Cards Lead Editor

Brandon Brunner

Credit Cards Writer

 

If you’re looking for a no annual fee rewards-earning champion, the Freedom Flex is it. You’ll earn high rewards on a wide array of everyday categories with ample flexibility on how to use those earnings.

Robin Frankel

Credit Cards Writer

 

The Chase Freedom Flex is a fantastic card for those who want to dip their toes into cash-back credit cards, not have to worry about an annual fee and can maximize the rotating quarterly categories.

Toni Perkins-Southam

Credit Cards Lead Editor

 

The Chase Freedom Flex is a powerful card with tremendous earning potential. While I was captivated by the unique welcome bonus it was offering when I applied, I was also confident that the 5% rotating quarterly bonus categories were a valuable perk.

Brandon Brunner

Credit Cards Writer

Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors including:

• Annual fees
• Welcome bonus offers
• Rotating bonus earning categories
• 0% intro APR offers
• Ongoing earning rates
• Value of individual points
• Included merchant credits
• Additional cardholder benefits

Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors come together to provide a star rating for each individual card.

To learn more about our rating and review methodology and editorial process, check out our guide on how Forbes Advisor rates credit cards.

Forbes Advisor Updates Editor Kelly-Ann Franklin contributed to this article.

To view rates and fees for the Blue Cash Preferred® Card from American Express please visit this page.
¹Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Card Members are responsible for the costs charged by third-party service providers.