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Chase Freedom Flex Credit Card Review 2023

June 27, 2023
Sam Helmy
The Chase Freedom Flex a true powerhouse, but is is the right card for you. check out our comprehensive review to find out!

The Chase Freedom Flex℠ Credit Card is one of the leading cashback cards around. It provides excellent earnings on rotating quarterly bonus categories and outstanding earnings at restaurants, gas stations, and drug stores. So if you are looking for a no-annual-fee card with features more associated with a more premium card, it is hard to look past the Chase Freedom Flex℠ Credit Card.  

Furthermore, the card comes with a generous sign-up bonus, and if you hold a premium Chase Ultimate Rewards credit card, you can convert your cash back to Ultimate Rewards points boosting your travel rewards and redemption values even further!

Chase Freedom Flex℠ Credit Card
Chase Freedom Flex℠ Credit Card

Chase Freedom Flex Features

• 5% back on rotating quarterly bonus categories, up to $1,500 per quarter, for a maximum of $75 in cash back. You need to activate your bonus. • 5% back on purchases through the Chase travel portal. • 3% back at restaurants and dining, including qualifying delivery services and fast food. • 3% back at drugstores!. • 1% back on all other purchases.

Learn More

Fee:$0/yr

Terms Apply

Chase Freedom Flex Credit Card Overview

  • Earn 5% back on rotating quarterly bonus categories, up to $1,500 per quarter, for a maximum of $75 in cash back. You need to activate your bonus.
  • Earn 5% when you purchase travel through the Chase travel portal.
  • Earn 3% at restaurants and dining, including qualifying delivery services and fast food.
  • Earn 3% at drugstores!.
  • Earn 1% for all other purchases.
  • 0% APR for the first 15 months of account opening applies to balance transfers as well as purchases.
  • $0 annual fee.
  • Your cashback rewards do not expire.

Who is the Chase Freedom Flex For?

The Chase Freedom Flex℠ Credit Card is a perfect fit for two types of people. The first is someone who is looking for a solid rate of return in cashback form while e keeping the costs down. The 5% categories and 3% on dining fit the bill nicely, especially when matched with the $0 annual fee.

Chase Ultimate Rewards points aficionados will also love this card. If they already hold a fee-paying Chase Ultimate Rewards card like the Chase Sapphire Reserve or Chase Sapphire Preferred, they can convert their cashback to points at a rate of 1 cent per point. This makes the 5% Chase Freedom Flex℠ Credit Card categories true points-earning powerhouses!

Chase Freedom Flex Sign-Up Bonus

The Chase Freedom Flex℠ Credit Card currently offers a generous $200 sign-up bonus when you spend $500 in the first three months of account opening. In terms of value, that is a stunning rate of return of 40%, which is outstanding by all measures.

Although if you convert your cashback to Chase Ultimate Rewards points, you can get even better value. Converting $200 will give you 20,000 points, which, if you are smart and transfer them to an airline partner for an awards booking, can yield much more value. Great airline award redemption options tend to yield between four and five cents per point of value which substantially adds to the value of the welcome bonus!

Chase Freedom Flex Card Features

Although the Chase Freedom Flex℠ Credit Card is a no-annual-fee card, it has some excellent features.

5% rotating Quarterly Bonus Category

This feature is arguably the meaning o of life for the card and can be very lucrative if maximized every year. Each quarter activate your bonus to earn 5% back on up to $1,500 of purchases. Doing so every quarter would earn you $75 of cash back, which would soon add up to $300 per year. Once you have reached your $1,500 cap, you earn 1% after that.

The great news about the activation is that you can activate it retroactively. So even if you activate your bonus a little later in the quarter – as long as it is before the activation deadline in the last month of the quarter. You will receive your cashback for all the spending you have made during that quarter, even those purchases made before activation.

In terms of what to expect as a category, they have been very varied over the years. We have seen the likes of Lowes, Amazon, Walmart, and gas stations, amongst others. Not to mention mobile payments platform, and even PayPal, which further broadens the scope of what you can earn 5% back on.

3% Back on Restaurants and Drug Stores

If you eat out a lot or even order in the 3% back at restaurants and dining can be a great rewards earner. Remember, this earning potential applies to sit-down restaurants and a host of other providers whose purchases code as restaurants. These can include takeout, some food delivery places, as well as fast food establishments.

empty bowl with chopsticks next to payment terminal
The 3% back at restaurants is Excellent value. Photo by Clay Banks on Unsplash

If you need to pop into your drugstore for a quick purchase, you can also earn 3% back. However, one thing to keep in mind is that this is great for your neighborhood drugstore. Those found within large superstores may not qualify since they do not code as drugstore purchases. So, you need to keep an eye out and double-check that your purchases qualify for the enhanced earning!

No annual Fee!

Another excellent selling point of the Chase Freedom Flex℠ Credit Card is that it carries no annual fee, which is great news. The card lets you have all the benefits of rewards earning card for no cost. Even though some earning rates are not as generous as those associated with some fee-paying cards, those fees tend to be much higher. Mid ties cards will have fees in the range of around $100 per year, while premium card fees are several times that. So, the Chase Freedom Flex℠ Credit Card no annual fee is an excellent deal!

Chase Freedom Flex Alternatives

If the Chase Freedom Flex℠ Credit Card is not quite right for you, but you still want to earn great rewards, you have lots of options.

  • The Chase Freedom Unlimited is perfect if you want simple cashback earning within the Chase ecosystem. The card earns you a sold 1.5% across the board on all purchases, instead of the 5% bonus categories. The car also features the usual 3% rates on restaurants and drug stores and carries no annual fee.
  • The Citi Custom Cash is an excellent choice if you have varied spending patterns. The card earns you 5% back each billing cycle on your highest eligible spending category. The car has no annual fee and earns an unlimited 1% back on all other purchases.
  • The Blue Cash Preferred® Card from American Express is an awesome choice if supermarkets are a big part of your spending. The card offers an industry-leading 6%  back on the first $6,000 of spending per year. The card carries a $0 annual fee in the first year, then $95 per year after that,
Chase Freedom Flex℠ Credit Card
Chase Freedom Flex℠ Credit Card

Chase Freedom Flex Features

• 5% back on rotating quarterly bonus categories, up to $1,500 per quarter, for a maximum of $75 in cash back. You need to activate your bonus. • 5% back on purchases through the Chase travel portal. • 3% back at restaurants and dining, including qualifying delivery services and fast food. • 3% back at drugstores!. • 1% back on all other purchases.

Learn More

Fee:$0/yr

Terms Apply

Chase Freedom Flex FAQs

Do Chase Ultimate Rewards points or cash-back rewards expire?

No, as long as your accounts remain open and active in good standing, your rewards points or otherwise will last forever.

How hard is the Chase Freedom Flex card to get?

Although it is a no-annual-fee card, the Freedom Flex still requires you to have good to excellent credit to be approved. If your credit is not in great shape, take steps to improve it before applying for the freedom flex.

How do I convert Cash Back to Ultimate Rewards points?

You can do so easily with the member area of your Chase card account. However, remember that in order to have the facility to do so, you must hold a fee-paying Chase card like the Sapphire Reserve or Sapphire Preferred card.

Does Chase 5/24 Rule apply to the Freedom Flex?

Yes, the 5/24 rule does apply. So if you have opened 5 accounts or more in the last 24 months (with Chase or other institutions), you will not be approved for a new Freedom Flex card regardless of your credit.

Does the Freedom Flex card charge foreign transaction fees?

Yes, if you are going overseas, the Freedom Flex is not an ideal companion. Chase charges a 3% fee on transactions made internationally.