The Chase Freedom Flex Card is one of my favorite cards and one of the ones that I reach for most often from my wallet. This is a great cashback or points card for someone just wanting to get their feet wet in the world of credit card points and miles. It is also great if you have the Chase Sapphire Preferred and want to earn more Ultimate Rewards.

Let’s review the Chase Freedom Flex and why you might want to add it to your wallet. Remember that it will fall under the Chase 5/24 rule.

 

Signup Bonus

First and foremost, we are all about those signup bonuses that we can use to reduce travel expenses or get free to nearly-free travel. With this card, you will receive $200 cashback or 20,000 Ultimate Reward points (to use on travel). This is after you meet your minimum spend of $500 in the first three months of having the card. This minimum spend is super easy to do!

 

Earnings

In certain categories, you will earn 5% back each quarter, up to $1,500. View the category calendar here. You do need to “activate” this offer every quarter, but that is very easy to do in your Chase account.

With the Freedom Flex card, you will also always earn 5% on travel booked in the Chase Ultimate Rewards travel portal, 3% on drugstores and dining, and $1 on all other purchases.

 

Annual Fee

Zip. Zero. Nada.

 

Other Benefits

How does $800-$1,000 in cell phone protection sound to you? You will get up to $800 in one claim or $1,000/year in protection on the phone you pay with your Chase Freedom Flex Card. Other benefits include 5% back on Lyft rides.

 

 

 

Cashback vs. Ultimate Rewards

Though this card is primarily marketed as a cashback card that earns $200 on your $500 minimum spend, you will actually be awarded 20,000 Ultimate Rewards (that you could cash out for $200). We recommend using your points for travel, as 20,000 Ultimate Rewards can be worth more than $200. The key here is that to get more than 1 cent per point out of the points you earn on your Freedom Flex card, you (or someone in your household since you can combine points with household members) will need to have a Chase Sapphire Preferred card, Chase Sapphire Reserve, or Ink Business Preferred.

If you (or a member of your household) have one of those cards listed above and move the points that you earn on the Freedom Flex to your Chase Sapphire Preferred (or one of the other cards listed above), you can then book in the Chase travel portal and your points will be worth 1.25 cents vs. 1 cent. Once you move them to your Sapphire Preferred account, you can transfer your points to one of Chase’s airline or hotel partners. If you leave your points in your Freedom Flex account, they are always worth 1 cent.

 

Bottom Line

If you already have the Chase Sapphire, Sapphire Reserve, or Ink Business Preferred and want to add to your Ultimate Rewards, then the Freedom Flex card is for you. If you don’t plan on traveling a lot in the near future and just want cash back, this card is also for you. The no annual fee makes it an easy decision either way.