What Are the Fees Associated With Chase Freedom Flex?
- Annual fee: There is no annual fee.
- Balance transfer fee: 3% for transfers made in your first 60 days with an account, then 5%. In either case, at least $5.
- Cash advance fee: 5% of the advance, or at least $10.
- Foreign transaction fee: 3% of the transaction in U.S. dollars.
- Late payment fee: The fee for late payments can be up to $40.
- Return payment fee: The fee for returned payments can be up to $40.
How to Earn Rewards With the Chase Freedom Flex
You’ll earn 5% cash back on up to $1,500 each quarter in rotating bonus categories you activate. Bonus categories for Chase Freedom Flex have included gas stations; home improvement stores; wholesale clubs; select streaming services; internet, cable and phone services; and qualifying purchases made at Walmart with PayPal.
Other earnings opportunities include 5% back on travel booked through Chase Ultimate Rewards, 3% back on restaurant dining and drugstore purchases, and 1% back on all other eligible purchases. You can also earn a $200 cash bonus after you spend $500 on purchases in your first 3 months from account opening.
This rewards structure can be great if you spend a lot in different categories and like the challenge of figuring out ways to maximize your rewards. Also, with no annual fee, you’ll get to keep all the cash back you earn as long as you don’t carry a balance and incur interest charges.
Chase Offers, a program that allows you to activate deals from your favorite brands, can help you pick up extra cash back. Sign in to the Chase Mobile app to browse and activate deals from participating retailers and restaurants.
How to Redeem Rewards With the Chase Freedom Flex
Options for redeeming rewards include cash back as statement credits or direct deposits, gift cards, travel rewards, and shopping with points on Amazon. You can redeem your points for cash back, travel rewards and gift cards at a rate of 1 cent per point; shopping with points gives you a value of 0.8 cent per point.
One strategy to make the most of your rewards is to pair Chase Freedom Flex with the Chase Sapphire Preferred Card or Chase Sapphire Reserve. You can get more value out of points earned with Chase Freedom Flex by transferring them to one of these cards and then redeeming them for travel through the Chase Ultimate Rewards portal. Points are worth 25% more when redeemed this way with the Chase Sapphire Preferred Card and 50% more with Chase Sapphire Reserve.
You can also transfer Chase Ultimate Rewards points points to Chase airline and hotel partners, which could help you squeeze even more value out of rewards. Here’s the average value you can get with some of these partners, according to U.S. News research:
|Chase travel partner||Average value of points or miles|
|British Airways Executive Club||2.51 cents|
|Southwest Airlines Rapid Rewards||1.37 cents|
|United Airlines MileagePlus||1.69 cents|
|Virgin Atlantic Flying Club||5.29 cents|
|World of Hyatt||1.99 cents|
What Is Chase Freedom Flex’s APR?
Chase Freedom Flex offers a 0% introductory APR. You’ll pay no interest on purchases or balance transfers for 15 months and then an APR of 17.24% – 25.99% Variable, depending on your creditworthiness.
If you’re looking to finance a big-ticket item, you will have plenty of time to do it interest-free with this card. That said, the ongoing APR can be high, so plan to have a zero balance when the promotional period ends.
FAQs About Chase Freedom Flex
Q: How does Chase Freedom Flex work?
A: Chase Freedom Flex earns 5% cash back on up to $1,500 each quarter in rotating bonus categories the cardholder activates. The card also earns 5% back on travel booked through the Chase Ultimate Rewards portal; 3% back on dining and drugstore purchases; and 1% back on all other eligible purchases. Cardholders receive a 0% intro APR for 15 months from account opening on purchases and balance transfers and pay no annual fee.
Q: What is Chase Freedom Flex’s credit score qualification requirement?
A: You need good or excellent credit to qualify for Chase Freedom Flex. That’s a FICO score of at least 670.
Q: What is the difference between the Chase Freedom Flex and the Chase Freedom Unlimited?
A: Chase Freedom Flex earns bonus cash back on quarterly rotating bonus categories, and Chase Freedom Unlimited doesn’t offer rotating bonus categories. Also, Chase Freedom Flex earns 1% cash back on purchases outside of its bonus categories, while Chase Freedom Unlimited earns at least 1.5% cash back on all purchases.
Q: Is Chase Freedom Flex a good credit card?
A: Chase Freedom Flex is a good choice for consumers who want a broad choice of rewards, a 0% intro APR for 15 months from account opening on purchases and balance transfers, and no annual fee. But the rewards structure may be too complicated for some people, and the sign-up bonus isn’t particularly valuable.
Should You Get Chase Freedom Flex?
- Prefer to pay no annual fee.
- Need a 0% intro APR for 15 months from account opening on purchases and balance transfers.
- Want a range of rewards and don’t mind doing the legwork to earn and redeem them.
- Don’t plan on using this card for much international travel.