If you're considering a cashback card to add to your wallet, the Chase Freedom Flex® is a no-annual-fee card that has an easy-to-earn welcome offer and earns up to 5% cashback.
For travelers and those who like to dine out, the increased cashback rates on those categories are pretty appealing. And if you're willing to put in the work to activate the rotating categories each quarter, you can earn even more.
Of course, this card may not be for everyone (to get the most out of it, you need to be organized with your credit card usage), so you'll want to consider all the factors before applying.
Quick Facts: Chase Freedom Flex®
- Rewards rate: 5% cashback on rotating categories each quarter (up to $1,500 in purchases, then 1%; activation required) and travel purchases through Chase Travel℠; 3% on dining and drugstore purchases; 1% on all other spending
- Welcome offer: Earn $200 cashback after spending $500 in the first 3 months
- Annual fee: $0
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Overview of the Chase Freedom Flex®
The Chase Freedom Flex® is a no-annual-fee rewards card with special rotating categories that change every quarter. (You need to activate these rewards each quarter to take advantage.)
You can convert your cashback into statement credit, which will be applied to your account. You can also have the funds deposited into your bank account, which doesn’t have to be a Chase account.
If you like, you can also redeem the rewards into gift cards from popular retailers or use them for travel-related expenses through Chase Travel℠. Chase also lets you link your points to your Amazon.com account so you can buy items there with your rewards.
Pros
- No annual fee
- Sign-up bonus is easy to earn
Cons
- Must manually activate categories every quarter
- Limited travel perks
LEARN MORE: Chase Freedom Flex®
Chase Freedom Flex® Benefits
The Freedom Flex® has several other benefits beyond its cashback and welcome offer.
Chase Credit Journey
As a cardholder, you get free access to Chase Credit Journey, which shows your credit score. The score will be updated every week. If you’re trying to rebuild your credit, using this service can help you see if you’re on the right track.
Pay Over Time
Chase has a pay-over-time program called My Chase Plan. If you buy something with a card that costs $100 or more, you can break it down into several payments and avoid interest charges. You’ll still have to pay a fee, but this may cost less than your total APR.
Free DashPass
With the card, you can get three free months of DashPass, DoorDash’s membership service (must activate by Dec. 31, 2024).
If you have DashPass, you can get $0 delivery fees and lower prices on service fees. DashPass is eligible for the DoorDash and the Caviar app.
Once the free DashPass promo period is over, you get 50% off a regular DashPass subscription, which normally costs $9.99 per month. The 50%-off deal will last for nine months, but you can cancel this at any point. DoorDash says the typical user saves $4 to $5 per order if they have DashPass.
Who Should Get the Chase Freedom Flex®?
If you are new to the credit card game, you might benefit from Chase Freedom Flex®. With a modest sign-up bonus and a basic cashback rewards system, it's simple to understand.
Who Should Get the Chase Freedom Flex®?
If you have a more established credit history, you should probably aim for more prestigious credit cards like the Chase Sapphire Preferred® Card or even the Chase Sapphire Reserve®.
Also, the Chase Freedom Flex® does come with a 3% foreign transaction fee, so if you’re going abroad, you may want to pick another card.
Alternatives to the Chase Freedom Flex®
For steady cashback rates: Capital One Savor Cash Rewards Credit Card
- Rewards rate: 8% cashback on Capital One Entertainment purchases; 5% on hotels and rental cars booked through Capital One Travel; 3% on dining, entertainment, select streaming subscriptions, and grocery store purchases (excluding superstores); 1% on all other purchases
- Welcome offer: Earn a one-time $200 cash bonus after spending $500 in the first 3 months
- Annual fee: $0
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Similar to the Chase Freedom Flex®, the Capital One Savor Cash Rewards Credit Card offers enhanced cashback on travel booked through its portal and on dining.
However, where it differs is that rather than having rotating categories, the Savor Cash Rewards offers a few consistent higher-earning categories, such as entertainment, streaming services, grocery stores, and Capital One Entertainment purchases.
If you spend a lot of money on entertainment or don't want to deal with rotating categories, the Savor Cash Rewards may be a better option for you.
LEARN MORE: Capital One Savor Cash Rewards Credit Card
For a cashback match: Discover it Cash Back Credit Card
- Rewards rate: 5% cashback on rotating categories each quarter (up to $1,500 in purchases, then 1%; activation required); 1% on everything else
- Welcome offer: Discover Cashback Match™ will double all cashback earned in the first 12 months
- Annual fee: $0
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The Discover it Cash Back Credit Card is another rotating cashback card that, like the Chase Freedom Flex®, provides cashback on special categories that change every quarter. It also doesn’t charge an annual fee.
However, a bonus with this card is that Discover will match your cashback earned after the first year.
Rewards can be redeemed as statement credit or used at Amazon.com and PayPal.
For a payment incentive: Citi Double Cash® Card
- Rewards rate: Up to 2% on all purchases: 1% when you buy, and another 1% when you pay your balance; limited-time offer of 5% total cashback on hotel and car rentals booked on the Citi Travel℠ portal through 12/31/24
- Welcome offer: Earn $200 cashback after you spend $1,500 in the first 6 months
- Annual fee: $0
. . .
The Citi Double Cash Card is a unique cashback rewards card because it earns a flat 2% cashback on all purchases — 1% when you make the purchase and 1% when you make your payment. This may be a better option if you don't want to deal with rotating categories every quarter.
Also, if you need some motivation to keep on top of paying off your balance each month, the cashback structure of this card is a good nudge, since that's when you'll earn the other 1% cashback.
Like the other cards listed here, it also has no annual fee.
Final Thoughts
With up to 5% cashback in selected and rotating categories, no annual fee, and an attainable sign-up bonus, the Chase Freedom Flex® is a good credit card choice for anyone getting into the world of cashback rewards.
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Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
