The Chase Freedom Flex card debuted last week. If you’re still on the fence about whether or not you should get it, here are 12 reasons why we think it belongs in your wallet.
It’s the Chase Freedom Card — But Way Better
The Chase Freedom card was a must, simply because of it’s quarterly 5% bonus categories (which we’ll discuss in a minute.) The Chase Freedom Flex card also boasts that perk — plus several more bonus categories we’ll discuss in a minute.
No Annual Fee
“No annual fee” is relatively self-explanatory. There’s no worry about whether or not it “pays for itself.” Most importantly, this card packs a lot of punch for a card that doesn’t carry an annual fee.
Plus, it saves you the pain of yearly retention calls.
5% Quarterly Bonus Cashback Categories
Each quarter, Chase gives its Freedom and now Freedom Flex cardholders select categories that earn 5% bonus cash back (or points). The benefit maxes out at $1,500 in combined purchases each quarter. So the most you get back each quarter is $75 (or $300 each year). That’s not bad for a no annual fee card.
Categories are announced each quarter, and cardholders must manually activate the benefit.
In 2020, they were:
- Q1: January – March
- Select streaming services
- Gas stations
- Phone, cable, and Internet services
- Q2: April – June
- Grocery stores
- Select streaming services
- Gym memberships
- Fitness clubs
- Q3: July – September
- Q4: October – December
- PayPal
- Walmart
In 2021, we’ve seen:
- Q1: January – March
- Select streaming services
- Wholesale clubs
- Phone, cable, and Internet services
- Q2: April – June
- Gas stations
- Home improvement stores
- Q3: July – September
- Grocery stores (excluding Target and Walmart)
- Select streaming services
If you don’t like a quarter’s categories, simply don’t use them. But we generally give you a few ideas whenever the quarterly bonuses are announced.
Earns Ultimate Rewards
The Chase Freedom Flex earns Ultimate Rewards points — which you can then convert to statement credit or to cash. Either method carries a value of one cent per point. For example, a $100 in a 5% category earns 500 Ultimate Rewards points. You can then apply that as $5 in statement credit, transfer it to your bank account, or have Chase send you a check. Or use it to book award travel or transfer to a Chase travel partner.
Keep in mind you can also transfer points between Chase Ultimate Rewards accounts — which is a big plus for Chase Sapphire Reserve and Chase Sapphire Preferred cardholders.
Chase Sapphire Reserve members can redeem their points for travel — but with an automatic 50% bonus. Chase Sapphire Preferred cardholders, meanwhile, get a 25% bonus when redeeming Ultimate Rewards points for travel booked through Chase.
5% Back on Travel Booked Through Chase’s Travel Program
Chase Freedom Flex cardholders receive 5% cashback (5X Ultimate Rewards points) when using their Flex card to purchase airline tickets, hotel accommodations, car rentals, activities, and cruises through the Chase travel site. Think of it as, essentially, a 5% discount (in the long run) on travel.
If you’re an independent contractor who gets reimbursed for travel bookings, this could help you make a little extra money.
Easy $200 Cashback Welcome Offer
Some cards require you spend thousands of dollars to earn their welcome bonuses. (In many cases, it’s worth it.)
But don’t worry about that with the Chase Freedom Flex. The current welcome offer gives new cardholders a $200 bonus (paid as 20,000 Ultimate Rewards points) after spending $500 on purchases within three months of being approved.
5% Back on Lyft Rides
Chase partnered with Lyft for a promotion giving Ultimate Rewards cardholders bonus points with each eligible Lyft purchase.
Chase Freedom Flex cardholders receive 5% back when using their card to pay for qualifying Lyft rides. (Don’t forget to start your Lyft session through the Rakuten app for even more cash back!)
3% Back at Drugstores
Here’s an interesting new category! Chase is offering Freedom Flex (and Freedom Unlimited) cardholders 3% cashback (3X URs) on eligible purchases at drugstores.
This should save some money on liquor and other treats at those Las Vegas Strip CVS and Wallgreens locations! ;-).
3% on Dining at Restaurants and Food Delivery Services
You earn 3% back when using your Chase Freedom Flex to pay at restaurants or select food delivery services.
0% Introductory APR
Be careful with this one and make sure you use it responsibly — if at all. The Chase Freedom Flex gives newly approved cardholders a 0% introductory APR on purchases for their first 15 months of membership.
Three Months of DashPass
DashPass is DoorDash’s subscription service. Its members enjoy no delivery fee in orders over $12.
DashPass costs $9.99 a month — but Chase Freedom Flex cardholders receive three months at no charge.
Here’s our guide to activating the benefit (using a Chase Sapphire Reserve).
Mastercard Cellular Wireless Telephone Protection Program
If you pay your monthly cell phone service bill with your Chase Freedom Flex card, you’re eligible for Mastercard’s Cellular Wireless Telephone Protection Program. This reimburses you for damage to or theft of your phone.
Final Approach
The Chase Freedom card was a no-brainer, simply because of the 5% quarterly bonus category. This card has that gem — and plenty more. And considering there’s no annual fee for all those benefits, it’s a great card to hold.
Photo ©iStock.com/gazanfer. Rene’s Points composite.
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2 Comments
There are 4 quarters in the year. Shouldn’t it be a total maximum of $300 a year instead of the $225? ($75 x 4)
Thank you!