Chase Freedom Flex℠
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The Chase Freedom Flex℠ is a cash back credit card that offers a variety of rewards categories and flexible redemption options. It also comes with some valuable benefits from Mastercard and Chase. But is it the right card for you? In this article, we will review the main features of the Chase Freedom Flex℠, its pros and cons, and who can benefit the most from using it.
What is the Chase Freedom Flex℠?
The Chase Freedom Flex℠ is a no-annual-fee credit card that earns cash back in the form of Ultimate Rewards points. You can redeem these points for cash back, travel, gift cards, Amazon.com purchases and more. The card has a unique rewards structure that combines year-round and quarterly rotating bonus categories. You can earn: 5% cash back on travel booked through the Chase Ultimate Rewards portal, 3% cash back on dining (including takeout and delivery) and drugstore purchases, 5% cash back on up to $1,500 in spending in rotating categories that change every quarter (such as gas stations, grocery stores, streaming services, etc.) and 1% cash back on all other purchases.
The card also offers a generous sign-up bonus of $200 cash back if you spend $500 in the first three months. Additionally, you can enjoy a 0% introductory APR on purchases and balance transfers for 15 months (then a variable APR of 20.49% to 29.24%). The card also comes with some perks from Mastercard and Chase, such as cell phone protection, complimentary DashPass subscription, purchase protection, extended warranty, car rental insurance and more.
What are the pros and cons of the Chase Freedom Flex℠?
Pros:
No annual fee
High rewards rate in multiple categories
Flexible redemption options
Ability to pool points with other Chase cards and transfer to travel partners
Introductory APR offer
Valuable benefits from Mastercard and Chase
Cons:
Balance transfer fee of 3% or $5 (whichever is greater)
Spending cap on the rotating categories of $1,500 per quarter
Rotating categories may not match your spending habits or preferences
Requires good to excellent credit to qualify
Subject to Chase’s 5/24 rule
Who is the ideal user of the Chase Freedom Flex℠?
The Chase Freedom Flex℠ is a great card for:
People who want to earn cash back in a variety of categories without paying an annual fee
People who are willing to track and activate the rotating bonus categories every quarter
People who want to redeem their rewards for travel or transfer them to other Chase cards or partners
People who have a large purchase or balance to pay off over time without interest
People who can take advantage of the Mastercard and Chase benefits
Conclusion
The Chase Freedom Flex℠ is a versatile cash back card that offers a lot of value for no annual fee. It can help you earn rewards in different categories throughout the year and redeem them for various options. It can also help you save money on interest and enjoy some useful perks. However, it may not be the best fit for everyone, especially if you prefer simplicity, consistency or higher rewards in certain categories. Before you apply, make sure you compare it with other cash back cards and see how it fits your spending habits and goals.
*vacayhq.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application
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