Are you ready to earn serious cash back on your purchases? Look no further than the Chase Freedom Flex® Credit Card. With its impressive rewards program and no annual fee, this card is a top choice for savvy shoppers. Let’s take a closer look at what this card has to offer.
The Standout Perk: 5% Cash Back
The Chase Freedom Flex® Credit Card is known for its 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter. But that’s not all. You’ll also earn 5% cash back on travel booked through Chase Ultimate Rewards, 3% on dining (including takeout), drugstore purchases, and 1% on all other purchases. Plus, there’s a $200 bonus when you spend $500 within the first three months of opening your account. With these generous rewards, it’s no wonder this card is a winner.
TIME’s Take: The Perfect Card Combination
In a small, no-annual-fee package, the Chase Freedom Flex® Credit Card offers high cash back rates on various categories, making it a must-have for everyday spending. However, it’s important to note that there are foreign transaction fees and the cashback rates on non-bonus category purchases are average. Nevertheless, if you’re seeking the highest cash back rates, the Chase Freedom Flex® Credit Card is an excellent choice.
Who is the Card For?
This card is perfect for those who want to maximize their earnings on purchases and don’t mind activating bonus categories each quarter. It also pairs well with other Chase cards, such as the Chase Sapphire cards, which allow transfers to Chase’s travel partners. This means you can potentially redeem your points for higher value when booking travel. Additionally, combining the Chase Freedom Flex® Credit Card with the Chase Freedom Unlimited® Credit Card, which earns 1.5% on all purchases, can boost your points earnings even further.
Rewards Structure
The Chase Freedom Flex® Credit Card offers 5% cash back on rotating bonus categories, along with several other bonus categories. All other purchases earn unlimited 1% cash back. It’s an impressive rewards structure that can help you rack up cash back quickly.
The Fine Print: Interest Rates and Fees
It’s important to know the details before applying for a credit card. The Chase Freedom Flex® Credit Card has a regular APR that ranges from 20.49% to 29.24% Variable. There is also a purchase intro APR and a balance transfer intro APR, both of which vary. As for fees, there is no annual fee, but there is a balance transfer fee and a cash advance fee. Make sure to review the fine print to have a complete understanding of the card’s terms.
Additional Hidden Perks
In addition to its cash back rewards, the Chase Freedom Flex® Credit Card offers several hidden benefits. You’ll enjoy Mastercard World Elite® Benefits, including a $5 Lyft credit, a one-year membership to Shoprunner, and discounts from Fandango. The card also provides cell phone protection, rental car collision damage waiver, DashPass and Caviar membership, Instacart+ membership with statement credit, trip cancellation/interruption protection, roadside assistance, and extended warranty protection. These added perks make the card even more valuable.
Card Alternatives: Discover Your Options
If you’re looking for alternatives to the Chase Freedom Flex® Credit Card, consider the Citi® Double Cash Card – 18 month BT offer. With its simple rewards structure and double cash back potential, it’s a strong contender. Another option is the Chase Freedom Unlimited® Credit Card, which offers unlimited 1.5% cash back on all purchases. Combining both cards can help you maximize your cash back earnings.
Great for Cash Back, Not as Great for Non-Bonus Categories
While the Chase Freedom Flex® Credit Card is an excellent choice for cash back rewards, it’s important to note that it only earns 1% on non-bonus category purchases. Additionally, the foreign transaction fee could be a deal-breaker for international travelers. However, if you’re primarily looking for a cash back credit card, this is a solid option.
Frequently Asked Questions (FAQs)
- How is the Chase Freedom Flex® Credit Card different from the original?
- Can I combine Chase Freedom Flex® Credit Card rewards with other Chase cards?
- What is the credit limit and minimum credit score required?
- Do the Chase Freedom Flex® Credit Card points expire?
- Which streaming services are eligible for quarterly bonus category cash back?
- How can I increase my Chase Freedom Flex® Credit Card limit?
- Is the Chase Freedom Flex® Credit Card a Visa or Mastercard?
Please note that the information presented here is created independently from the TIME editorial staff. To learn more, visit the Personal Finances Blog.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult with a professional advisor before making any financial decisions.