The Chase Freedom Flex is often heralded as one of the highest value starter credit cards available today. With a range of benefits and features, it opens the door to substantial rewards, making it an excellent choice for those new to the credit card game. This review covers everything you need to know about the Chase Freedom Flex, from its pros and cons to tips on maximizing its value.
Card Features
The Chase Freedom Flex offers a variety of features that make it a standout option among starter credit cards. Here’s a detailed look at what this card has to offer:
- 5% cash back on travel via Chase UR portal
- 3x back on dining, takeout, and delivery
- 3x back on drugstore purchases
- 1x back on everything else
One of the most appealing aspects of this card is its 5% rotating quarterly categories. These categories change every three months, allowing cardholders to earn substantial cash back on different types of purchases throughout the year.
Rotating Quarterly Categories
To maximize the 5% cash back, cardholders must manually activate the quarterly categories. For example, in Q3, the categories include gas stations, EV charging stations, and select live entertainment. These categories reset every three months, offering high-value opportunities like Amazon, Lowe’s, Target, or gym memberships.
Quarterly Cap
It’s important to note that the 5% cash back applies to the first $1,500 spent in these categories per quarter, which can add up to about $300 in value annually. For those who spend more, having multiple Chase Freedom Flex cards can be beneficial.
Zero Percent APR Offer
The Chase Freedom Flex also offers a 0% APR on purchases and balance transfers for the first 15 months. This can save cardholders hundreds, if not thousands, of dollars in interest, especially for those struggling with credit card debt.
Welcome Bonus
The welcome bonus is another highlight, offering $200 in bonus cash back after spending $500 in the first three months. This effectively gives you 40% back on your initial $500 spend, making it a lucrative offer for new cardholders.
Card Cons
While the Chase Freedom Flex has numerous advantages, it’s important to consider some of its drawbacks:
- 5% back on travel only via Chase UR portal
- Rotating categories may not always be useful
The requirement to book travel through the Chase Ultimate Rewards portal can be seen as a limitation. However, the portal is competitive and often offers prices comparable to other booking sites. Additionally, the rotating categories may not always align with your spending habits, but this is where having multiple credit cards can help balance things out.
Competitor Cards
When comparing the Chase Freedom Flex to other cards, two main competitors come to mind: the Capital One SavorOne and the U.S. Bank Cash+ Visa Card.
Capital One SavorOne
The Capital One SavorOne card offers similar benefits but lacks the rotating categories that make the Chase Freedom Flex so versatile. Additionally, Chase’s reputation and customer service often make it a preferred choice.
U.S. Bank Cash+ Visa Card
The U.S. Bank Cash+ Visa Card offers more flexibility in its 5% categories, allowing cardholders to choose their categories and offering a $2,000 quarterly cap. However, the Chase Freedom Flex is generally easier to get approved for and has a lower spending requirement for its welcome bonus.
Application Pro Tips
Getting approved for the Chase Freedom Flex involves understanding a few key rules and having a good credit score. Here are some tips to ensure a successful application:
- Have a credit score of at least 670
- Be aware of the Chase 5/24 rule
- Consider the Chase 2/30 rule
Chase 5/24 Rule
The Chase 5/24 rule means you can only get approved for a Chase card if you’ve applied for fewer than five cards in the past 24 months. Prioritizing Chase cards first can help you navigate this rule effectively.
Chase 2/30 Rule
The Chase 2/30 rule states that you can’t apply for more than two Chase cards within 30 days. Waiting a bit longer between applications can increase your chances of approval.
Reconsideration Line
If your application isn’t approved immediately, you can call the Chase reconsideration line. Speaking to a real person can sometimes result in a favorable decision, especially if you have a good credit history with Chase.
Tips to Maximize Value
To get the most out of your Chase Freedom Flex, consider these strategies:
- Max out quarterly categories
- Hit the welcome bonus
- Redeem points through Chase Ultimate Rewards
- Use for cell phone protection
Max Out Quarterly Categories
Be intentional with your spending to ensure you hit the $1,500 quarterly cap in the 5% categories. This might mean timing your purchases or saving certain expenses for specific quarters.
Hit the Welcome Bonus
Ensure you spend the $500 required to earn the $200 welcome bonus within the first three months. This initial spend can provide a significant return on your investment.
Redeem Points Wisely
The Chase Freedom Flex earns Chase Ultimate Rewards points, which can be redeemed for higher value when used with other Chase cards like the Chase Sapphire Preferred or Reserve. These cards boost the value of your points by 25% and 50%, respectively.
Cell Phone Protection
Pay your phone bill with the Chase Freedom Flex to activate cell phone protection. This benefit can save you money if your phone gets damaged or stolen, with just a $50 deductible.
Conclusion
The Chase Freedom Flex stands out as one of the best starter credit cards due to its versatile rewards structure, generous welcome bonus, and no annual fee. While it has some limitations, the benefits far outweigh the drawbacks. Whether you’re new to credit cards or looking to add a high-value card to your wallet, the Chase Freedom Flex is a top contender.
If you’re ready to get started, check out the application links and resources available. With the right strategy, this card can help you maximize your rewards and pave the way for future credit card success.