Among rewards credit cards, the Chase Freedom Flex℠ strikes a powerful and unique pose. That's because this $0-annual-fee card — which replaced the decommissioned Chase Freedom® — features the best of both worlds: fixed bonus categories that range as high as 5% back, on top of 5% bonus categories that change each quarter.
Of course, all of those bonus categories mean there's a lot of tracking involved, so if you're seeking simpler, more straightforward rewards with less maintenance, other cash-back cards will likely suit you better. But if you're an optimizer willing to follow and activate quarterly bonus categories while also paying attention to ongoing bonus tiers, the Chase Freedom Flex℠ packs plenty of muscle.
» MORE: Which 5% rotating bonus category card should you choose?
Chase Freedom Flex℠: Basics
Card type: Cash back.
Annual fee: $0.
Sign-up bonus: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. (NOTE:This offer is available when you apply through NerdWallet. If you apply directly with Chase or through a different website, you may not be eligible for this offer.)
Rewards:
5% cash back in quarterly bonus categories on up to $1,500 in combined spending each quarter. Activation of bonus categories is required. (See the quarterly 5% bonus calendar below.)
5% back on travel booked through Chase.
3% back on dining, including takeout and delivery services.
3% back on drugstore purchases.
For all cardholders, through March 31, 2025, 5% back on qualifying Lyft services purchased through the Lyft app.
1% on all other purchases.
Chase Freedom® and Chase Freedom Flex℠ bonus rewards categories for 2024 | |
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Q1 (Jan. 1-March 31) |
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Q2 (April 1-June 30) |
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Q3 (July 1-Sept. 30) |
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Q4 (Oct. 1-Dec. 31) |
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*Includes bookings made directly with the hotel and prepaid bookings through Chase's travel portal. | |
» MORE: See current and historical bonus categories for the Freedom cards
Interest rate: 0% intro APR on purchases and Balance Transfers for 15 months, and then the ongoing APR of 20.49%-29.24%, Variable APR.
Foreign transaction fee: 3%.
» MORE: See more benefits of the Chase Freedom Flex℠
Options for redeeming your rewards
While the Chase Freedom Flex℠ is considered a cash-back card, rewards actually come in the form of Chase Ultimate Rewards® points. If you choose to redeem points for cash back, you'll get 1 cent apiece. You can get the cash direct-deposited into your U.S. checking or saving account, or you can opt for a statement credit.
You can also redeem points for:
Gift cards (1 cent per point).
Travel booked through Chase (1 cent per point).
Amazon purchases (0.8 cent per point).
If you want to use your Chase Ultimate Rewards® points for travel, you can unlock greater value by pairing your Chase Freedom Flex℠ with another Chase card that offers higher-value redemption options. (More details below.)
» MORE: Should you get the Chase Freedom Flex℠?
Chase Freedom Flex℠ vs. Chase Freedom Unlimited®
The Chase Freedom Flex℠ and the Chase Freedom Unlimited® have similar names and some shared benefits. But there's a key difference:
The Chase Freedom Flex℠ earns just 1% back on non-bonus-category purchases. But unlike the Chase Freedom Unlimited®, it also comes with 5% quarterly rotating bonus categories. This seriously boosts its earnings power but also means there's more to keep track of.
The Chase Freedom Unlimited® earns 1.5% back on purchases outside bonus categories, but it doesn't have the rotating 5% categories of the Chase Freedom Flex℠. So if you like to keep things simple, it could be the better choice.
» MORE: What is the standard cash-back rate for credit cards, 1.5% or 2%?
🤓Nerdy Tip
The Chase Freedom Flex℠ runs on the Mastercard payment network, while the Chase Freedom Unlimited® is a Visa. In terms of acceptance, it doesn't matter much if you carry a Visa or a Mastercard, but those networks do provide some different side perks.
The table below highlights the differences between these two cards and the older Chase Freedom®, which is no longer accepting applications and has been effectively replaced by the Chase Freedom Flex. (If you have an original Chase Freedom® card, you can product-change it to a Chase Freedom Flex℠ by calling Chase.)
Click to see the Freedom cards compared side by side
Empty Table Header | Chase Freedom Unlimited® | Chase Freedom Flex℠ | Chase Freedom® |
|---|---|---|---|
Offer for new cardholders: | Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back! | Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. | None — card is no longer accepting applications |
Rotating bonus categories: | None. | • 5% back on quarterly bonus categories that you activate, on up to $1,500 per quarter in spending. | |
Ongoing bonus categories: | • 5% cash back on travel booked through Chase. • 3% cash back at restaurants, including takeout and eligible delivery services. • 3% cash back on drugstore purchases. | None. | |
Rewards on other purchases: | 1.5% cash back | 1% cash back | 1% cash back |
(There is yet another rewards-earning Freedom product — the Chase Freedom Rise℠ — but unlike the cards above, it is meant for beginners to credit.)
🤓Nerdy Tip
Through March 31, 2025, both the Freedom Flex and Freedom Unlimited will earn 5% back on qualifying Lyft services purchased through the Lyft app. Both cards also come with a complimentary three-month subscription to DashPass. It's DoorDash's subscription service that provides unlimited deliveries for a $0 delivery fee on orders over $12.
» MORE: How does the Chase Freedom Flex℠ stack up with competitors?
