Chase Freedom Flex Card: $200 Bonus Cash + Up To 5% Cash Back On Purchases

Chase is offering a $200 cash bonus after spending $500 in the first three months of opening a Chase Freedom Flex^SM card account. Compare this with other top card bonuses here.

This card earns 5% cash back on grocery store purchases (not including Target^® or Walmart^® purchases) on up to $12,000 spent in the first year. Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1% on all other purchases.

Chase Freedom Flex is the new and improved version of Chase Freedom®. It comes with many of the same benefits, like rotating bonus categories and no annual fee, but now holds a lot more value and has access to World Elite Mastercard benefits. Existing Chase Freedom cardholders can keep their current card or switch to Freedom Flex.

The Chase Freedom Flex card earns rewards in the form of Ultimate Rewards points. This means you can pool points with other Chase cards that earn Ultimate Rewards points as well. Read more about this here.

Let’s go over Chase Freedom Flex features and offers below.

Keep in mind, Chase also has great bonuses for their Checking and Savings accounts.

Bonus Available	Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
Bonus Value	$200
Ongoing Rewards	Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1% on all other purchases.
Other Benefits	Complimentary DashPass subscription for 3 months on DoorDash and Caviar. After that, you are automatically enrolled in DashPass at 50% off for the next 9 months – activate by 12/31/2021. 5% total cash back on Lyft rides through 3/31/2022. Free credit score and monitoring. Enjoy a free ShopRunner membership and get 2-day shipping at hundreds of retailers.
Foreign Transaction Fees	3%
Airport Lounge Access	N/A
Annual Fee	$0

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$200 Sign-Up Bonus + 5% Cash Back Grocery Store Offer

Chase is offering a $200 cash bonus if you spend at least $500 within your first three months as a Freedom Flex cardmember. Plus, you’ll get 5% cash back at grocery stores (not including Target and Walmart) on up to $12,000 spent in your first year.

Freedom Flex is considered a different product from Freedom and Freedom Unlimited. Existing Freedom cardholders can request a product change without a hard credit pull or affecting your 5/24 status and still receive the welcome bonus if you haven’t claimed a Freedom credit card bonus within the last 24 months.

You’ll need to spend at least $167 per month for your first three months to reach the $500 spending threshold. If you think you’ll have a tough time hitting that mark, here are some tips:

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Earning With Chase Freedom Flex

Chase Freedom Flex makes its grand debut with an impressive amount of earning power, especially for a no-annual-fee credit card. Not only does it come with bonus rewards on the rotating categories you activate, Freedom Flex also offers elevated cash back rates on travel purchased through Chase, dining at restaurants and drugstore spending. You’ll earn:

• 5% cash back on quarterly rotating bonus categories, on up to $1,500 in combined purchases
• 5% on travel booked through the Ultimate Rewards travel portal, including car rentals and vacation bookings
• 3% on dining at restaurants, including takeout and eligible delivery services
• 3% on drugstore purchases
• 1% on all other purchases

As you might have noticed, the Freedom Flex rewards structure competes with, and in some cases outperforms, Chase Sapphire Reserve® and Chase Sapphire Preferred® Card when it comes to earning potential. Again, an admirable feat for a card with no annual fee. For quick reference:

Chase Sapphire Reserve	Chase Sapphire Preferred
$550 annual fee	$95 annual fee
3x points on travel & dining 1x points on all other spending	2x points on travel & dining 1x points on all other spending

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Redeeming With Chase Freedom Flex

The cash back you earn with Freedom Flex comes in the form of Ultimate Rewards points, and Ultimate Rewards is one of the most beneficial programs out there.

Take, for example, the card’s sign-up bonus. You’ll be rewarded with 20,000 Ultimate Rewards points, which you can redeem for a $200 statement credit. We recommend going this route because it’s simple and it has decent value. If you want better value for your points, you’ll want to use a multi-card strategy with other Ultimate Rewards cards (more on that later). You can also redeem your points for gift cards, merchandise, travel and more.

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Maximizing With Chase Freedom Flex

To get the most out of your Freedom Flex card, use it for purchases that fall under bonus categories. For all other spending, we recommend a higher flat-rate rewards card, like the Capital One® Quicksilver® Cash Rewards Credit Card (1.5% cash back, no annual fee).

But the best pairing strategy is to pool the Ultimate Rewards points you earned with a Chase Sapphire Preferred, Chase Sapphire Reserve or Ink Business Preferred® Credit Card. These three Ultimate Rewards cards offer more value when you use your points to book travel through the Ultimate Rewards travel portal. For example:

• Points are worth 25% more for Ultimate Rewards travel with Sapphire Preferred and Ink Business Preferred. So, 20k points are worth $250 for travel, instead of $200 with the Freedom Flex.
• Points are worth 50% more for Ultimate Rewards travel with Sapphire Reserve. So, 20k points would be worth $300 in travel.

Even better, Sapphire Preferred, Sapphire Reserve and Ink Business Preferred cardmembers can transfer their Ultimate Rewards points to other travel loyalty programs at a 1:1 ratio. This can potentially squeeze even more value out of your rewards, although it will ultimately depend on your booking criteria. A good game plan is to compare a travel booking with Chase’s partners, rather than directly through the Ultimate Rewards portal. We’ve seen point values of 2 cents each (20k points = $400) with certain partners and booking scenarios.

Here’s a list of Chase Ultimate Rewards transfer partners:

Airline Transfer Partners	Hotel Transfer Partners
Aer Lingus AerClub	IHG Rewards Club
British Airways Executive Club	Marriott Bonvoy
Flying Blue AIR FRANCE KLM	World of Hyatt
Emirates Skywards
Iberia Plus
JetBlue TrueBlue
Singapore Airlines KrisFlyer
Southwest Airlines Rapid Rewards
United MileagePlus
Virgin Atlantic Flying Club

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Bottom Line

The no-annual-fee Chase Freedom Flex Card is a welcome addition to the Freedom product portfolio, with bonuses on rotating categories, travel, dining and drugstore spending, as well as World Elite Mastercard benefits and more. And with a multi-Chase card strategy, you’ll be able to earn Ultimate Rewards points that’ll get you the most value.

Existing Freedom cardholders can hang onto their account, but we recommend ditching it and making the switch to Freedom Flex.

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What’s The Competition?

If you’re looking for alternatives to Chase Freedom Flex, or you want to supplement it, here’s more information on bonuses and rewards rates for other credit cards:

The information related to the Chase Freedom Flex has been collected by MoneysMyLife and has not been reviewed or provided by the issuer of this card.

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