Chase Freedom Flex review: A generous cash-back credit card with no annual fee
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BLUEPRINT
Updated 7:12 a.m. UTC Nov. 14, 2023
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The no-annual-fee Chase Freedom Flex℠ * The information for the Chase Freedom Flex℠ has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. has a winning value proposition, thanks to its combination of rewards in rotating categories and ongoing cash back on dining and drugstore purchases — plus it comes with a generous welcome bonus.
About the Chase Freedom Flex
If you want to flex your cash-back earning muscles, there’s a good chance the Chase Freedom Flex is the right credit card for you. It combines rewards in rotating quarterly categories you have to activate with strong, ongoing rewards on dining and drugstore purchases, as well as travel booked through the Chase Ultimate Rewards® portal, all for no annual fee. Activation of the quarterly bonus categories requires logging in to your Chase Freedom Flex account and clicking the “activate” button.
Cardholders earn 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on dining and drugstores and 1% cash back on all other purchases. Examples of past quarterly categories include grocery stores, gas stations, PayPal, streaming, and fitness club and gym memberships.
The welcome bonus is also generous: $200 bonus after spending $500 on purchases in the first three months of account opening.
Need to finance a big purchase or transfer a balance from a non-Chase credit card? You’re in luck, because this card comes with introductory APR periods on both new purchases and balance transfers: 0% intro APR for the first 15 months on purchases and balance transfers, then a variable APR of 20.49% to 29.24%. There is an intro balance transfer fee of either $5 or 3% of each transfer, whichever is greater, in the first 60 days. Then the fee is the greater of $5 or 5% of each transfer.
There’s not much to dislike about the Chase Freedom Flex, at least for those willing to put in the work to activate a new category every quarter. However, it does charge a 3% of each transaction in U.S. dollars foreign transaction fee, so you’re better off carrying a different credit card when traveling outside the United States or making purchases in foreign currency.
Chase Freedom Flex basics
- Annual fee: $0.
- Welcome bonus: $200 bonus after spending $500 on purchases in the first three months of account opening.
- Rewards: 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on dining and drugstores and 1% cash back on all other purchases.
- APR: 0% intro APR for the first 15 months on purchases and balance transfers, then a variable APR of 20.49% to 29.24%. There is an intro balance transfer fee of either $5 or 3% of each transfer, whichever is greater, in the first 60 days. Then the fee is the greater of $5 or 5% of each transfer.
- Other perks and benefits: Cellphone protection, purchase protection, extended warranty, trip cancellation and interruption insurance and secondary rental car coverage.
- Does the issuer offer a preapproval tool? Yes.
- Recommended credit score: Good to excellent.
Chase Freedom Flex other details
Chase Freedom Flex rewards
With the Freedom Flex, you’ll earn 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on dining and drugstores and 1% cash back on all other purchases. Rotating categories are announced shortly before the start of each quarter, but past categories have included gas and groceries.
There’s also a welcome bonus of: $200 bonus after spending $500 on purchases in the first three months of account opening.
Though this is marketed as a cash-back credit card, the Freedom Flex earns Chase Ultimate Rewards® points. Your points can be redeemed for cash back to a bank account or as a statement credit to your card — points are worth 1 cent each and there’s no minimum redemption.
Additional redemption options include gift cards and booking travel through the Ultimate Rewards portal.
Or, if you have one of the premium Ultimate Rewards-earning cards such as the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, you can transfer your points from the Flex to the other card. That gives you the flexibility of booking travel through Chase’s portal at an elevated value or transferring points to airline and hotel loyalty programs.
Chase Freedom Flex rewards potential
Using government data and other publicly available information, we estimate that a household in the U.S. that would be in the market for this card has an annual income of $84,352 and $25,087 in expenses they are likely to be able to charge to a credit card. Here’s what you’d earn on that:
- $2,941 in spending on travel booked through Chase x 5% = $147.05.
- $6,000 in spending on rotating categories x 5% = $300.
- $3,526 in spending on dining x 3% rewards = $105.78.
- $816 in spending at drugstores x 3% rewards = $24.48.
- $11,804 on other credit card spending x 1% rewards = $118.04.
For a grand total of $695.15 in rewards annually — and that’s not even factoring in the elevated rate on groceries during the first year.
However, note that how close you can get to our maximum cash-back estimate depends on how well the rotating categories align with your typical expenditures.
Chase Freedom Flex APR
The Freedom Flex comes with a 0% intro APR for the first 15 months on purchases and balance transfers, then a variable APR of 20.49% to 29.24%. There is an intro balance transfer fee of either $5 or 3% of each transfer, whichever is greater, in the first 60 days. Then the fee is the greater of $5 or 5% of each transfer.
Chase Freedom Flex pros
- Decent welcome bonus: With an offer of $200 bonus after spending $500 on purchases in the first three months of account opening — stellar for a no-annual-fee card.
- Introductory 0% APR periods: Whether you need to finance a big-ticket purchase or transfer a balance from a high-interest credit card, the Flex offers more than a year of no interest to pay down your debt. Enjoy a 0% intro APR for the first 15 months on purchases and balance transfers, then a variable APR of 20.49% to 29.24%. There is an intro balance transfer fee of either $5 or 3% of each transfer, whichever is greater, in the first 60 days. Then the fee is the greater of $5 or 5% of each transfer.
- Robust benefits: For a card that charges no annual fee, the Flex has robust benefits, such as cell phone protection of up to $800 (subject to a $50 deductible) as well as trip cancellation and interruption insurance. There are also partner perks — such as three free months of Instacart+ membership when you enroll by July 31, 2024. Terms apply.
Chase Freedom Flex cons
- Have to manage rotating categories: Remembering to activate a new category each month isn’t too tough, especially since Chase typically sends out reminders. But the fact still remains that not every category will be equally useful for all cardholders. You might prefer a credit card with a simpler, more predictable cash-back program.
- Can’t transfer Ultimate Rewards points: You won’t be able to transfer your rewards from the Flex to Chase’s popular airline and hotel partner loyalty programs unless you also carry one of the issuer’s premium Ultimate Rewards-earning travel cards.
- Foreign transaction fees: Having an additional 3% of each transaction in U.S. dollars added on to every transaction you make abroad or in a foreign currency is not ideal. The Freedom Flex is a great choice for your domestic spending, but if planning an international vacation, leave this card safely at home.
How the Chase Freedom Flex compares to other rewards cards
Chase Freedom Flex vs. Wells Fargo Active Cash® Card
If you favor a flat cash-back rate over rotating categories, the Wells Fargo Active Cash® Card may suit your needs. Cardholders earn unlimited 2% cash rewards on purchases, and the card charges no annual fee.
There’s also a solid welcome bonus: $200 cash rewards bonus after spending $500 in purchases in the first three months of account opening.
Plus, cardholders get an introductory APR period on purchases and balance transfers: 0% intro APR for the first 15 months on purchases and qualifying balance transfers, then a 20.24%, 25.24%, or 29.99% variable APR applies thereafter. Balance transfers made within 120 days qualify for the intro rate and fee of 3%. After that a fee of up to 5%, with a minimum of $5 applies.
The card does charge a 3% foreign transaction fee, so it’s not ideal if traveling abroad.
Chase Freedom Flex vs. Citi Custom Cash® Card
Don’t want to think about activating cash-back categories? The no-annual-fee Citi Custom Cash Card automatically detects your top spending category each month from a list of eligible categories.
You’ll earn 5% cash back on purchases in a top eligible spend category each billing cycle, up to the first $500 spent each month and 1% cash back on all other purchases. Categories eligible for the elevated rewards rate are: restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs and live entertainment.
Plus, there’s a solid welcome bonus with a long runway to earn it: $200 cash back, in the form of 20,000 ThankYou points, after spending $1,500 on purchases in the first six months of account opening.
There’s a 0% intro APR for the first 15 months on purchases and from the date of the first transfer for balance transfers within the first four months. After that, the variable APR will be 19.24% to 29.24%. There is a balance transfer fee of 5% of each balance transfer with a $5 minimum.
Like the Freedom Flex, the Custom Cash charges a 3% foreign transaction fee.
Chase Freedom Flex vs. Chase Sapphire Preferred® Card
The Chase Sapphire Preferred is one of Chase’s premium Ultimate Rewards-earning travel cards, and allows you to transfer points 1:1 to popular airline and hotel partners such as United Airlines and World of Hyatt. You also get extra value when redeeming points for travel through the Ultimate Rewards portal — 1.25 cents per point, compared to 1 cent per point for cash back.
There’s a $95 annual fee with this card and cardholders earn 5 points per $1 on travel purchased through Chase Ultimate Rewards®, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases.
The welcome bonus is generous: 60,000 points after spending $4,000 on purchases in the first three months of account opening.
There are no foreign transaction fees, making this an excellent card for travel abroad.
You don’t get an intro APR period with this card. The regular APR is 21.49%-28.49% Variable.
Chase Sapphire Preferred® Card
Should you get the Chase Freedom Flex?
If you’re willing to activate rotating quarterly categories, the Freedom Flex offers generous cash-back earning potential. Plus, the welcome bonus shines for a no-annual-fee card.
For those who already have a premium Ultimate Rewards-earning card, pairing it with the Flex is a smart strategy. You can use the Flex in categories where it earns more than the other card, then transfer your rewards from the Flex card to the other for higher redemption values.
For example, say you own both the Chase Sapphire Reserve and the Freedom Flex and you’re buying $50 worth of goods in a drugstore. The smart money move is to use your Freedom Flex to pay because you’ll get 3% back on that purchase. That’s because owning the Chase Sapphire Reserve card means you can redeem your rewards at a 50% increase when used to book travel through the Ultimate Rewards portal, making your 3% worth 4.5% in this scenario. If you had used your Sapphire Reserve for that drugstore purchase, you would only earn a 1% back, worth 1.5% if redeemed for travel through Chase.
If you compare the Chase Freedom Flex to another popular cash-back card with rotating categories, the Discover it® Cash Back * The information for the Discover it® Cash Back has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. , the Flex has an immediate advantage — it earns 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on dining and drugstores and 1% cash back on all other purchases. The Discover it® Cash Back * The information for the Discover it® Cash Back has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. offers 5% cash back on purchases at different places each quarter up to $1,500 spent each quarter when activated and 1% cash back on all other purchases. Although Discover will automatically match all the cash back earned at the end of the first cardmember year.
However, if you have a thin credit file, you probably shouldn’t apply for the Chase Freedom Flex. Applicants should have a strong credit history for the best chances of approval with this card (although be aware that lenders typically review many factors before making a decision, including your income).
Chase Freedom Flex summary
One of the biggest differences between these cards comes down to the reward structures.
With the Chase Freedom Unlimited, you’ll earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on eligible dining and drugstore purchases and 1.5% cash back on all other purchases. The Chase Freedom Unlimited charges no annual fee.
Note that this is similar to the Freedom Flex’s cash-back program, except that the Freedom Unlimited does not come with rotating quarterly categories. Instead, purchases that don’t fall into a bonus category earn at a higher rate compared to the base cash back using the Flex.
If you want a higher base rewards rate and don’t want to bother with activating rotating categories, Freedom Unlimited is likely a better match for you than Freedom Flex.
In case the payment network matters to you, note that the Freedom Flex is a Mastercard while the Freedom Unlimited is a Visa. Both networks are widely accepted in the U.S. and abroad.
Yes, the Chase Freedom Flex has a credit limit, which will determine the maximum that can be spent on the card at one time. Note that credit limit will differ from cardholder to cardholder—the issuer sets your limit based on factors such as your ability to repay what’s charged to the card.
If approved for the card, you’ll have a credit limit of at least $500.
To maintain a good credit score, you never want to max out your credit card. A good rule of thumb is to use no more than 30% of your credit limit at any time, both on a single card and across all of your cards. For example, if your card has a credit limit of $500, that means not allowing your balance to go above $150.
Because this is one of the top rewards credit cards on the market, you likely need a good-to-excellent credit score. FICO typically defines this range as a score of 670 to 850.
No, the Freedom Flex isn’t really a beginner credit card. Chase is known for being fairly selective with who it approves, so you’re better off applying for this card after you’ve established a solid credit history and good credit score with a more accessible credit card.
No, not unless you also carry a premium Chase travel card such as the Chase Sapphire Preferred or Chase Sapphire Reserve. If you do, then you can first transfer your points from the Flex to the other card, then transfer points at a 1:1 rate to more than a dozen travel partners.
*The information for the Chase Freedom Flex℠ and Discover it® Cash Back has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
