Chase Freedom Flex®
- Best for: Cardholders who will activate rotating 5% categories every quarter
- What Sets It Apart: 5% on up to $1,500 in quarterly categories plus 3% on dining and drugstores, with no annual or foreign transaction fee
- Cost: $0 annual fee; 18.49% to 27.99% variable APR after a 15-month 0% intro period; balance transfer fee 3% (min. $5) for 60 days, then 5%
- Features: $250 bonus after $500 in purchases in 3 months (limited time); 5% on Chase Travel; purchase protection and extended warranty
- Pros: Up to $75 a quarter from the categories; no foreign transaction fee; points don’t expire while the account is open
- Cons: 5% requires activation each quarter; $1,500 quarterly cap; 1% base rate
Get the Chase Freedom Flex® if you’ll activate its 5% categories every quarter, because those categories pay up to $75 a quarter on the first $1,500 you spend in them. Otherwise get the Freedom Unlimited, which pays 1.5% where the Flex pays 1% but charges a 3% foreign transaction fee the Flex doesn’t.
The Chase Freedom Flex® is a no-annual-fee cash back card that pays 5% on the first $1,500 you spend each quarter in rotating categories, but only if you activate them by the quarter’s deadline. Outside those categories it pays 1%, apart from higher rates on dining, drugstores, and travel booked through Chase Travel.
Key Features
- $0 annual fee and no foreign transaction fee
- 5% back on the first $1,500 you spend each quarter in the categories you activate, then 1%
- 5% on Chase Travel bookings, 3% at restaurants and drugstores, and 1% on everything else
- $250 bonus after $500 in purchases in the first 3 months, a limited-time offer up from $200
- 0% intro APR on purchases and balance transfers for 15 months, then 18.49% to 27.99% variable
Pros
- Up to $75 a quarter from the 5% categories ($1,500 at 5%)
- Points that don’t expire while the account is open and can move to another card in your household that earns the same Chase points
- Purchase protection for 120 days (90 in New York), up to $500 per item, plus extended warranty coverage
- Trip cancellation and interruption coverage up to $1,500 per traveler
Cons
- Miss the activation deadline and you lose that quarter’s 5% rate
- The 5% rate stops after $1,500 in combined category purchases each quarter
- 1% base rate trails the Chase Freedom Unlimited® at 1.5%
- Balance transfer fee rises from 3% ($5 minimum) to 5% after the first 60 days
Cardholders who activate on schedule and steer purchases into the 5% categories earn as much as $3.50 more per $100 of those purchases than with the 1.5% Freedom Unlimited, before the cap. Everyone else should get the Unlimited, which pays 50 cents more per $100 wherever the Flex pays 1%, unless they often buy abroad, since it charges a 3% fee there that the Flex doesn’t.
Learn more about the Chase Freedom Flex® or see how it compares to the best cash back credit cards.
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