The Chase Freedom Flex card is a good cash rewards credit card for people with above-average credit scores. Chase Freedom Flex has a
$0 annual fee, gives new cardholders a bonus of
$200 for spending $500 in the first 3 months, and has ongoing rewards rates of up to 5% cash back on select purchases.
Specifically, Chase Freedom Flex gives 5% cash back on travel purchased through Chase, plus 5% back on up to $1,500 spent per quarter in rotating bonus categories. Plus, for a limited time, you can earn 5% cash back on combined gas station and grocery store purchases (excluding Target and Walmart) on up to $12,000 spent in the first year. Cardholders also earn 3% cash back at restaurants, 3% back on drugstore purchases, and 1% back on everything else. That, in a nutshell, blows the average cash rewards card out of the water.
Below, you can find more information that should help you decide whether or not applying for the Chase Freedom Flex Mastercard is the right move for your situation.
Chase Freedom Flex Review Highlights
$0 Annual Fee
The Chase Freedom Flex Mastercard’s annual fee is
$0. That makes it roughly
$22.29 per year cheaper than the average credit card offer.
3% Cash Back on Dining and Drugstore Purchases
The Freedom Flex card’s 3% rewards rates apply to all manner of dining and drugstore purchases, including those delivered to your home. The merchant you purchase from must be categorized as a restaurant, eligible delivery service or drugstore, though.
$200 Initial Bonus
New cardholders can earn the Chase Freedom Flex card’s initial bonus of
$200 for spending $500 in the first 3 months of opening an account. Dollar for dollar, that is one of the best initial bonuses available right now, working out to as much as 40% cash back.
Several 5% Cash Back Categories
Chase Freedom Flex 5% cash back on travel bookings made through Chase Travel℠, with no spending limit. On top of that, cardholders can activate rotating bonus categories to earn 5% back, up to $1,500 spent in those categories each quarter. Plus, for a limited time, you can earn 5% cash back on combined gas station and grocery store purchases (excluding Target and Walmart) on up to $12,000 spent in the first year.
Base Rewards Rate of 1% Cash Back
Most cash back credit cards give 1% back as a base earning rate. The only way to get a higher base rate is to sacrifice in terms of your chosen card’s maximum earning rate.
Numerous Secondary Benefits
Chase Freedom Flex Mastercard benefits include rental car insurance, extended warranty protection, purchase protection, trip cancellation/interruption insurance, and cell phone protection. Freedom Flex cell phone protection covers phones whose bills are paid for with the Freedom Flex card against damage and theft, up to $800 per claim and $1,000 per year.
High Regular APR
The Chase Freedom Flex card’s regular APR is
20.49% - 29.24% (V), depending on each applicant’s creditworthiness. For context, the average APR among new credit card offers is
22.89%, and it’s
24.12% when you limit things to credit cards for people with good credit.
Good Credit Needed for Approval
Chase Freedom Flex credit score requirement is 700 or higher for good approval odds, considering that applicants generally need
good credit at a minimum. If you’re not sure whether your credit is good enough for Freedom Flex, you can
check your latest credit score for free on WalletHub.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.