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The Chase Freedom Flex℠ is the latest addition to the Ultimate Rewards family. It has no annual fee and combines some of the best features of the Chase Freedom® (which is now closed to new applicants) and the revamped Chase Freedom Unlimited®.
Like the Freedom Card, the Freedom Flex offers 5% cashback on select categories that change each quarter. However, this new card's earning potential is significantly higher thanks to several bonus categories that we haven't seen before on Freedom cards.
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
- Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
- Earn 5% on Chase travel purchased through Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
- No annual fee.
- 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
- No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
- Earn 5% on up to $1,500 on combined purchases in bonus categories each quarter you activate
- Earn 5% on travel purchased through Chase Ultimate Rewards
- Earn 3% on dining at restaurants, including takeout and eligible delivery services
- Earn 3% on drugstore purchases
- Earn 1% on all other purchases
Chase Freedom Flex Sign-Up Bonus
The Chase Freedom Flex has an identical offer to the Freedom Unlimited. Eligible new cardholders will earn $200 cashback after you spend $500 on purchases in your first 3 months from account opening. Plus, cardholders will earn 5% cashback on up to $12,000 in grocery store purchases (excluding Walmart and Target) in the first year.
The increased earning rate on grocery purchases for your first year of card membership should make the Freedom Flex offer significantly more attractive for many. If you are able to reach the $12,000 spending cap, this translates into earning $600 in cashback.
It's a great offer, but the sign-up bonus on the Freedom Flex is just one part of this card's appeal. This is a card you want for its ability to earn you more points over the long term—without costing anything to keep in your wallet.
Short Term Benefits for Freedom Flex Cardholders
The Chase Freedom Flex also comes with two temporary travel benefits:
- Cardholders earn 5% cashback on all Lyft rides through March 2022.
- Enroll by December 31, 2021 to receive a complimentary three-month DashPass membership from DoorDash.
Cardholders who choose to continue their DashPass membership after the free trial will get a 50% discount for the next nine months.
Chase Freedom Flex Earning Potential
In addition to the increased earning rate on groceries in your first year, the Chase Freedom Flex℠ offers four bonus categories:
- 5% on up to $1,500 in combined purchases each quarter in a rotating quarterly category
- 5% on travel purchased through Chase Ultimate Rewards
- 3% on dining purchases — including dining in, takeout, and eligible delivery services
- 3% on drugstore purchases
- All other purchases earn an unlimited 1% cashback
That means that the Freedom Flex offers many of the same bonus categories as the now-discontinued Freedom Card and the improved Freedom Unlimited. Like the Freedom Card, the Freedom Flex offers a rotating 5% category. And, like the improved Chase Freedom Unlimited®, the Freedom Flex earns 5% on travel through Chase Ultimate Rewards, 3% on dining, and 3% on drugstore purchases.
The only way that the Freedom Flex lags the enhanced Freedom Unlimited is the return on general spending. The improved Freedom Unlimited still earns 1.5% cashback on non-bonus purchases, but the Freedom Flex only earns 1% cashback.
Combine with a Sapphire Card to Maximize Benefits
As with the existing Chase Freedom cards, the cashback earned through the Chase Freedom Flex can be combined with points from other Chase Ultimate Rewards cards. This is great news if you or your spouse/partner have the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®.
By combining your Chase points, you can transfer points to 13 Ultimate Rewards airline and hotel partners. Or, you can get a better value when you book travel through the Chase Travel Portal or Pay Yourself Back.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
- Enjoy new benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
- 5X points on Lyft rides through March 2022
- 5X points on travel purchased through Chase
- 3X points on dining at restaurants worldwide
- 3X points on eligible streaming services
- 3X points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
- 2X points on all other travel
- 1X point per dollar spent on all other purchases
Check out this post for more details on how to build a team strategy with a Freedom and Sapphire card.
Mastercard World Elite benefits
Despite being a $0 annual fee card, the Chase Freedom Flex is a World Elite Mastercard—which is Mastercard's premium product. That means cardholders enjoy the full suite of World Elite benefits, including:
- Cell phone insurance — pay your cell phone bill with your Freedom Flex to automatically get cell phone protection against theft or damage. Up to $800 per claim and $1,000 per year.
- Lyft — earn a $5 credit for completing three rides in a calendar month
- DoorDash — new members get three free months of DashPass membership; DashPass members get $5 off their first 2 orders per month
- HelloFresh — earn 5% back on every HelloFresh order for use on future purchases
- ShopRunner — get two-day shipping and free return shipping at over a hundred online retailers
- Mastercard ID Theft Protection — get complimentary credit monitoring and ID theft resolution services
This is an incredible set of benefits, particularly for a no-annual-fee card. World Elite credit cards generally include some of the most expensive travel rewards credit cards, such as the $495 annual fee Citi Prestige® Card.
Who's Eligible to Get the Chase Freedom Flex
The Chase Freedom Flex has the same eligibility criteria as Chase's existing Freedom cards. That means you need to have good to excellent credit to be approved for the card.
Also, that means that the Freedom Flex is subject to Chase's 5/24 policy. In short, Chase won't approve you for a new card if you've opened five (or more) new credit cards in the past 24 months. If you're not sure how many you've opened, here's how to check your 5/24 status.
The Freedom Flex is especially nice for those who were wary about signing up for both the Freedom Card and the Freedom Unlimited. Rather than trying to learn and maximize two cards, you can get most of the benefits of both cards through the Freedom Flex. Plus, you'll get the World Elite benefits that neither current Freedom card offers.
What do you think about the new Chase Freedom Flex℠?
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