Chase Freedom Flex Review


Chase Freedom Flex Card Full Review

  • Several categories of very lucrative rewards

  • Substantial one-time bonus for a card with no annual fee

  • Trip cancellation and interruption insurance

  • Cell Phone Insurance Protection

The inconvenients
  • Charge of foreign transaction fees

  • Poor win rate on all other purchases

  • Must activate 5% quarterly rotation cash back categories

  • 5% cash back in rotating categories is limited

Benefits explained

  • Several categories of high income rewards: This card has multiple categories that earn more than the base 1% cash back rate. These include 5% cash back on trips purchased through Ultimate Rewards and rotating quarterly bonus categories (when activated and up to $ 1,500 in combined purchases per quarter). Purchases at qualifying pharmacies, restaurants, and meal deliveries earn 3% cash back.
  • Substantial one-time bonus for a card with no annual fee: The card offers a very good bonus. You can earn $ 200 in cash after spending $ 500 in the first three months. Compared to other cards with no annual fee, this is very generous.
  • Trip cancellation and interruption insurance: This benefit provides reimbursement of up to $ 1,500 per person and $ 6,000 per trip for prepaid and non-refundable passenger fares. To be eligible, you must pay for your trip with the Card and your trip must be canceled or shortened for a covered reason. These include illness, inclement weather, and more.
  • Cell Phone Protection: You are insured up to a maximum of $ 800 per loss and $ 1,000 per year against theft or damage to the phones shown on your monthly cell phone bill when you pay that bill with the card. There is a $ 50 deductible per claim and a limit of two claims per 12 month period.

Disadvantages Explained

  • Foreign transaction fees: The Chase Freedom Flex Credit Card charges an overseas transaction fee of 3%. Several other credit cards with no annual fee do not charge these fees, which can quickly add up if you travel internationally.
  • Poor win rate on all other purchases: This card only earns 1% cash back on all other purchases. However, considering its higher cashback rates in some categories, along with other perks, it’s not a huge downside.
  • Must activate 5% Quarterly Rotation Cash Back categories: To earn 5% cash back in the rotating quarterly bonus categories, you must activate this benefit each quarter. You can set a calendar reminder so you don’t forget to do it, but it requires some extra work.
  • The 5% cash back on rotating categories is limited: 5% spinning cash back categories get this rate on your first $ 1,500 in combined purchases each quarter. After that you earn 1% cash back.

Who is this card for?

The Chase Freedom Flex Card might be suitable for those who wish to earn Ultimate Rewards cash or points in a wide variety of categories. The one-time bonus adds even more value for a card with no annual fee.

When you consider all the perks that this card offers, such as cell phone protection and trip cancellation and trip interruption insurance, it stands out as one of the best options in the no annual fee credit card space. . However, people who don’t want to be bothered by the rotating bonus categories or who don’t regularly spend money in the higher paying categories may find that simpler cards might be better suited.

One-time Chase Freedom Flex Bonus

You can earn $ 200 in cash after spending $ 500 on purchases with the Chase Freedom Flex card in the first three months after opening the account. The one-time bonus is deposited into your rewards account in the form of 20,000 Ultimate Rewards points. This bonus offer is decent for a credit card with no annual fee and the spending requirements are reasonable as well.

Chase says the bonus should be posted to your Ultimate Rewards account within six to eight weeks of qualifying. Your account cannot be in default and must be open to be eligible. Current cardholders and those who previously owned this card and received a bonus within the past 24 months are not eligible for the bonus.

Reward Details

The Chase Freedom Flex allows you to earn money in the form of Ultimate Rewards points. Each cashback percentage is equal to one Ultimate Rewards point.

This card has 5% bonus cash back categories that rotate quarterly and you must activate. Bonus cash back is limited to $ 1,500 in combined purchases per quarter in rotating categories.

You can also earn 5% cash back on travel purchased through Chase Ultimate Rewards and 3% cash back on drugstore and restaurant purchases, including qualifying takeout and delivery services. You will earn 1% cash back on all other purchases.

A temporary promotion through March 2022 provides a total of 5% cash back on Lyft rides. This includes the standard 1% cash back on all other purchases and an additional 4% cash back specifically on Lyft rides.

The points you have earned do not expire as long as your account remains open. You can automatically lose points if your account is closed for abuse, fraud, default, bankruptcy, or for some other reason.

Details on how to use rewards

There are several ways you can redeem the Chase Ultimate Rewards points you earn with this card. Options include cash back in the form of statement credit or direct deposit, gift cards, travel, and payment with points for Amazon and Apple purchases.

Points redeemed for cash back rewards and travel with this card are worth one cent each. Points redeemed for gift cards are usually worth a cent each, but may be worth more if a gift card promotion is in effect. Redeeming points through payment with points results in a value of 0.8 cents per point for Amazon purchases.

Points transfer

The Chase Freedom Flex card does not allow you to transfer points directly to other loyalty programs. However, the Ultimate Rewards points he earns may, in some cases, be combined with balances from other Ultimate Rewards cards. For example, if you have a Chase Sapphire Preferred, Chase Sapphire Reserve, or Chase Ink Business Preferred credit card, you can combine your Chase Freedom Flex Ultimate Rewards points with one of these cards, which will allow you to transfer points to participating loyalty. programs.

How to Maximize Your Rewards

Maximizing your rewards with this card is all about earning as many Ultimate Rewards points as possible and then redeeming them for the maximum value. So you’ll want to use the card for purchases in its most profitable categories and keep an eye out for quarterly rotating categories. Remember to activate your 5% cash back bonus per rotating category each quarter and remember that the 5% rebate is only valid on the first $ 1,500 of combined purchases per quarter.

When it comes to redeeming points, it’s usually best to combine Ultimate Rewards points from your Chase Freedom Flex with points from a Chase Sapphire Preferred, Chase Sapphire Reserve, or Chase Ink Business Preferred credit card. These cards allow you to transfer your points to participating loyalty programs and redeem them for higher fare travel when booked through Ultimate Rewards.

If you don’t have one of those other Chase credit cards, be sure to redeem your points for at least a cent’s value per point. You can accomplish this by requesting credit or cash back on your statement, purchasing from Apple, or booking travel through the Ultimate Rewards portal. Gift cards typically offer a penny per point value, but some may have higher redemption values ​​from time to time. Avoid lower value options, such as redeeming points on Amazon for 0.8 cents per point.

Outstanding Benefits of Chase Freedom Flex

  • Cell Phone Insurance Protection
  • Free DoorDash DashPass: Activate this benefit before December 31, 2021 to get a free three-month DashPass subscription that automatically renews with a 50% discount for the next nine months.
  • Trip cancellation or interruption insurance

Standard benefits

  • Secondary Car Rental Collision Insurance Coverage
  • Extended warranty protection
  • Benefits of the Mastercard World Elite program
  • Purchase protection

Cardholder experience

Chase ranked fourth out of 11 domestic card issuers, with a score of 809 out of 1,000 in JD Power’s 2020 U.S. Credit Card Satisfaction Survey. The average score was 810.sese

While you do not need to be a Chase Freedom Flex cardholder to use this service, Chase provides access to your VantageScore 3.0 credit score as well as other useful credit information on the pages. Chase Credit Journey Web.

You can manage your account online, using the Chase mobile app, or by calling 800-432-3117.

Security functions

The security features of this card meet normal industry standards.

Fees to watch out for

The Chase Freedom Flex does not charge an annual fee, but does charge a 3% overseas transaction fee. Balance transfer fees of 3% or $ 5, whichever is greater, and cash advance fees of 5% or $ 10, whichever is greater, are higher than on some competing cards.

Our verdict

The Chase Freedom Flex is one of the best no annual fee cards available today. It offers several more profitable cash back categories, but its 1% cash back on all other purchases is nothing special. The one-time bonus also adds significant value to the card.

The additional benefits of the card, such as trip cancellation and interruption insurance, cell phone protection and more, provide great value for a credit card with no annual fee. In contrast, the card also charges a 3% overseas transaction fee, making it less than ideal for frequent international travelers.

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