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Chase Freedom Flex℠ review: Plenty of value packed into one card

This card offers a nice mix of fixed and rotating bonus categories.

 /  12 min
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Snapshot

4.8

Bankrate rating
Info
Rating: 4.8 stars out of 5

Bottom line

If you want a rewards card with great short- and long-term value, this card’s sign-up bonus, intro APR, fixed and rotating rewards categories and additional perks make it a worthy choice.

BEST FOR BACKUP GROCERY REWARDS
Image of Chase Freedom Flex℠

Chase Freedom Flex℠

*
4.8
Rating: 4.8 stars out of 5
Bankrate score
Info
Good to Excellent (670 – 850)
Info
Recommended Credit

Intro offer

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1% - 5%

Rewards rate

Info

Annual fee

Regular APR

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Want to see similar cards you may be approved for? Get my matches

Chase Freedom Flex℠ Overview

For those looking for a winning combination of year-round rewards and rotating cash back, the Chase Freedom Flex℠ should be one of your first stops.

The Freedom Flex boasts no annual fee, solid cardholder perks, a terrific blend of everyday bonus categories, niche extras and one of the most flexible cash back rewards programs available. On their own, each of these benefits is impressive, but the Freedom Flex has them all, making it one of the best cash back credit cards on the market.

However, like other cards with rotating bonus cash back programs, quarterly categories may not be the best fit for you based on your spending habits. Learn more about how the Freedom Flex stacks up against other rewards credit cards and if it makes sense as part of your cash back strategy.

  • Credit Card Cash Back

    Rewards

    • 5 percent cash back on activated bonus category purchases each quarter (up to $1,500 in purchases, then 1 percent) and Chase Ultimate Rewards travel purchases
    • 5 percent cash back on Lyft rides (through March 2025)
    • 3 percent cash back on dining (including restaurants, takeout and eligible delivery services) and drugstore purchases
    • 1 percent cash back on all other purchases

    Expert Appraisal: Exceptional
    See our expert analysis

  • Rewards

    Welcome offer

    • Earn a $200 cash bonus after spending $500 within your first three months

    Expert Appraisal: Exceptional
    See our expert analysis

  • Credit Card Apr

    0% APR offer

    • 0 percent intro APR on purchases for 15 months
    • 0 percent intro APR on balance transfers for 15 months
    • 20.49 percent to 29.24 percent variable ongoing APR

    Expert Appraisal: Typical
    See our expert analysis

  • Credit Card Search

    Rates and fees

    • Annual fee: None
    • Balance transfer fee: $5 or 3 percent of the amount of each transfers, whichever is greater in the first 60 days; $5 or 5 percent after the intro period
    • Cash advance fee: $10 or 5 percent of each advance
    • Foreign transaction fee: 3 percent of each transaction
    • Late payment fee: Up to $40
    • Returned payment fee:  Up to $40

    Expert Appraisal: Typical
    See our expert analysis

  • Congrats

    Other cardholder perks

    • Zero Liability Protection
    • Purchase Protection
    • Extended Warranty Protection
    • Free Credit Score and Identity Restoration with Credit Journey
    • Fraud Monitoring
    • Auto Rental Collision Damage Waiver
    • Trip Cancellation/Interruption Insurance
    • Travel and Emergency Assistance Services
    • Cell Phone Protection

    Expert Appraisal: Good

Chase Freedom Flex pros and cons

Pros

  • Checkmark

    With no annual fee, this card is a low-risk addition to your cash back strategy.

  • Checkmark

    It offers a relatively long introductory APR, which could help you avoid interest as you chip away at larger purchases and transferred balances.

  • Checkmark

    Welcome offer is easily attainable for most cardholders.

  • Checkmark

    A balance of ongoing rewards and rotating categories offers a great mix of consistency and variety.

  • Checkmark

    It carries excellent travel protections and partner benefits for a no-annual-fee card.

Cons

  • You must pair it with a higher-tier Chase card to get a better redemption value for travel purchases booked through the Chase travel portal or if you want to transfer rewards to a Chase travel partner.

  • You must remember to enroll in rotating categories each quarter to maximize rewards.

  • It carries cash back limits in its rotating bonus categories.

Why you might want the Chase Freedom Flex

The Chase Freedom Flex card is great for people new to cash back because it offers boosted rewards rates in several categories and has a relatively attainable welcome offer. Its generous intro APR may also appeal to cardholders paying interest on another card balance.

Rewards: Offers a wide variety of boosted and rotating categories

Even cardholders who prefer the ease of using flat-rate cash back cards can appreciate the mix of consistency and variety offered by the Freedom Flex. While most cash back cards earn rewards at either a flat rate on all purchases, in specific bonus spending categories or in rotating bonus categories, the Freedom Flex blends multiple cash back styles by offering a boosted rewards rate year-round in select categories and quarterly in others.

The card’s backbone is its rotating 5 percent cash back on up to $1,500 in each quarter’s activated bonus category spending (then 1 percent back). Chase’s bonus categories are announced quarterly and usually feature everyday or seasonal expenses.

Starting in October and through the rest of 2023, you can earn boosted cash back for wholesale club and PayPal purchases and donations to select charities. A 5 percent cash back rate for wholesale club purchases is rare for a cash back card, and the flexibility provided by PayPal can make racking up cash back while holiday shopping a breeze.

While the card’s 5 percent cash back categories rotate quarterly and often include gas, grocery and retail purchases, you can earn in other popular categories year-round. For instance, cardholders can earn an unlimited 5 percent cash back on Chase Ultimate Rewards travel purchases and 3 percent back on drugstore and restaurant purchases, including takeout and eligible delivery services.

Other rotating category cards, like the Discover it® Cash Back, offer similar bonus categories, but the Freedom Flex sets itself apart with the additional rewards categories it shares with the Chase Freedom Unlimited®.

Welcome offer: Best return for your spending available

The Chase Freedom Flex’s current welcome offer clocks in at $200 after you spend $500 in your first three months of card ownership. This bonus offers one of the best returns on spend, considering the card charges no annual fee. For instance, a handful of competitors require you to spend anywhere from $1,000 to $2,000 to earn a comparable bonus.

A $200 cash back return for spending $500 in your first three months is ideal for low spenders. You'll earn 40 percent back if you meet the spending requirement — that's on top of any cash back rewards you could earn on your way to earning the bonus.

Intro APR: Standard intro offer with potentially low ongoing APR

Although this card’s introductory APR isn’t the most outstanding offer available to new cardholders, it gives the Freedom Flex a competitive edge compared to other generous cash back cards. 

You may also qualify for a relatively low regular APR when you open your card, helping you keep interest charges in check even after the intro period. Interest rates have climbed high due to rate hikes from the Federal Reserve, and there are more rate increases to come. It may be a good idea to secure a card with an intro offer and low ongoing APR sooner rather than later. 

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Bankrate Insight

Bankrate’s CardMatch tool may provide personalized offers you can’t get through the issuer for some cards, but applying directly through the issuer may present other offers. It always pays to research multiple cards and decide which match your spending habits.

Why you might want a different cash back card

Cardholders can find a lot to love with the Chase Freedom Flex, but they may also find the card’s rotating categories high maintenance, especially with the quarterly spending cap. You also might face a lot of fees if you happen to miss a payment here and there. 

Categories: Rotating categories may be hard to maximize

Quarterly rotating category cards can be limiting for cardholders who want to earn rewards on everyday purchases like groceries and gas year round. If you have only one or two high spend categories, you may struggle to find outstanding value with the Chase Freedom Flex. Although 5 percent back is a great rewards rate, you’ll only earn this rate if you lean into the rotating categories every quarter or consistently make Chase Ultimate Rewards travel purchases. If the card’s rotating categories don’t align with your spending, you may be leaving a lot of rewards on the table and only earning a meager rewards rate in other categories.

For a more reliable way to maximize your earnings, consider a rewards card with consistent boosted rates in your top spending categories. If you’re unsure what your top categories are, track your expenses for a month or two to see where you spend most of your money. Once you have a better understanding of your spending, you can determine if a tiered rewards card or a flat-rate card is a better fit for you.

Rates and Fees: No breaks for first-time mishaps

Although the Chase Freedom Flex does not charge an annual fee, it charges for just about everything else without any breaks, unlike other issuers. Discover it® Cash Back, for instance, charges up to $41 for late payments and returned payments, but it won’t charge you for your first late payment. First time cardholders, or people still relatively new to credit, may need more time to develop positive credit card habits and may miss payments occasionally. If this is the case, a more forgiving card could be better for you.

Spending caps: Limits your earnings at the card’s best rewards rate

Rotating categories can already be limiting for cardholders who keep their spending to a routine and regularly rack up charges in predictable categories. However, if you plan to maximize Chase’s rotating categories, you might be disappointed with its $1,500 spending cap for earning 5 percent back. You’ll earn 1 percent for all spending after this cap, but this hampers the earning potential on the card when you compare it to a cash back or a rewards card that earns generously with more flexible spending caps in categories you choose or can rely on to stay the same all year.

The card’s ongoing rewards in reliable categories are slightly redeeming, but if you are a rewards strategist, you can pair multiple cards to outpace the earning potential of the Freedom Flex. Not only will this let you choose cards that offer high rates in your choice categories, but it will expand the amount you can spend before being limited by spending caps.

We tried it: Here’s what our experts say

Bankrate credit cards writer Ryan Flanigan uses the Chase Freedom Flex as one of his go-to cards.

This new version of the former Freedom card is amazing. It took all the best parts — like the rotating bonus categories — and added more useful 3 percent categories. The intro offer also gave a year of bonuses for grocery and gas spending, meaning this was the only card I used for a long time. I max out the rotating bonus category every quarter to generate 30,000 points annually, which I can use in a variety of ways. The point return for no annual fee card makes this a no-brainer and a go-to for many situations for me. If you want a one-and-done card, look no further.

— Ryan Flanigan, Writer, Credit Cards

How the Chase Freedom Flex compares to other cash back cards

With an eye-catching combination of year-round and rotating bonus categories, the Freedom Flex remains a leader in the no-annual-fee cash back card pack. Nevertheless, depending on where you spend most and how you like to earn rewards, there might be cards that are a better fit.

Image of Chase Freedom Flex℠

Chase Freedom Flex℠

Bankrate Score
Rating: 4.8 stars out of 5
4.8

Annual fee

$0

Intro offer

$200
Info

Rewards rate

1% - 5%
Info

Recommended Credit Score

Good to Excellent (670 – 850)
Info
Image of Citi Custom Cash® Card

Citi Custom Cash® Card

Annual fee

$0

Intro offer

$200
Info

Rewards rate

1% - 5%
Info

Recommended Credit Score

Good to Excellent (670 – 850)
Info
Image of Chase Freedom Unlimited®
Bankrate Score
Apply now Lock
on Chase's secure site

Annual fee

$0

Intro offer

Up to $300 cash back
Info

Rewards rate

1.5% - 5%
Info

Recommended Credit Score

Good to Excellent (670 – 850)
Info

Best cards to pair with the Chase Freedom Flex

The Freedom Flex is a great card to stack with other credit cards thanks to its diverse earning categories. Pairing the card with another that earns a better flat rate on general purchases or offers more diverse redemption options can help you maximize your rewards.

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Bankrate Insight

Consider pairing the Chase Freedom Flex with the Chase Freedom Unlimited and the Sapphire Reserve. This combo won the “Best credit cards for stacking” title in our 2022 Bankrate Awards rankings since the total annual fee is only $550 across all three cards — less than rival card combos — and the stack offers a better category scope, redemption options and rewards value potential than competing stacks.

Who is the Chase Freedom Flex card right for?

Bankrate’s Take — Is the Chase Freedom Flex worth it?

The Chase Freedom Flex card is at the top of the cash back game. Its familiar rotating categories appeal to rewards maximizers who are okay with shopping around to get the most value, while year-round earning categories ensure you can always find ways to earn significant cash back.

However, this card — and other rotating category cards — are limited by a lack of flexibility that can make maximizing cash back difficult. If you want to choose your categories, or at least reliably predict them for the whole year, you might be more comfortable with a different cash back card.

The information about the Chase Freedom Flex℠ has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

Frequently asked questions

Written by
Garrett Yarbrough
Writer, Credit Cards

Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, credit monitoring and identity theft analysis on NextAdvisor.com, he joined the CreditCards.com and Bankrate teams as a staff writer to develop product reviews and comprehensive credit card guides focused on cash back, credit scores and card offers.

Co-written by
Emily Sherman
Former Senior Editor, Credit Cards
Edited by Senior Editor, Credit Cards
Reviewed by Former Editor, credit cards

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Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.