Chase has two versions of their Chase Freedom, the Unlimited and the Flex. I previously reviewed the Freedom Unlimited here which has an incredible signup bonus. The Freedom Flex is another great no-annual fee card to compliment your Chase portfolio. Just like with the Freedom Unlimited, this is a slam dunk if you already have the Chase Sapphire Preferred or the Sapphire Reserve. What makes it even better is there’s no annual fee!

Quick Facts

Signup Bonus: Earn $200 back after spending $500 within 3 months.

Points Earned: This is a cash back card but where things get interesting and really rewarding is if you have one of their Sapphire cards, either the Preferred or the Reserve, or if you have the Chase Ink Business Preferred, you can convert all the cash back points into Chase Ultimate Rewards points which you can use for 1.25 cents each toward travel or you can transfer them on a 1:1 basis to their 13 airline and hotel partners which is my preferred way to use them.

Earnings Structure:
5% back on rotating quarterly categories on up to $1,500 in spending
5% back on all Lyft purchases through March 2025.
3% back on dining.
3% back on drug stores.
1% back on all other purchases.

Foreign Transaction Fees: 3% Keep this card at home when you’re traveling abroad as you’ll be hit with this 3% foreign transaction fee.

Annual Fee: $0

The Chase Freedom Flex is one of the best no annual fee cards out there. The rotating categories are somewhat annoying to use but I typically find a way to max out the bonus each quarter.

Who is Eligible?

You are eligible for this card if you do not currently have this card or have not received a welcome bonus from this card within the last 24 months. Even if you currently have another Chase card, including the other version of this, the Freedom Unlimited, you can still get one of these great sign up bonuses.

5% back on Rotating Quarterly Categories

Each quarter you will earn 5% back on changing categories. The picture above is for 2023, however each year and each quarter the bonus categories change. The one caveat is that you do need to register to activate the bonus.

You earn 5% or 5x points on the first $1,500 spent total in the bonus categories. So you’ll earn $75 back or 7,500 points each quarter for a total of $300 back or 30,000 points each year. That’s an incredible return on a no annual fee card!

5% back on Travel Booked Through the Chase Travel Portal

While this may sound enticing, there are some drawbacks to booking this way. Eligible purchases include airline tickets, hotels, rental cars, cruises, and vacation rentals. There’s an opportunity cost to not booking directly and going through the portal. Not only is it much easier to deal directly with the company who is actually providing that travel but you also will earn points with their loyalty program and have your elite status recognized. While you’ll earn miles and status with your airline if you enter in your loyalty number in Chase’s travel portal, you generally will not earn any hotel points or status. If you have to change your plans or need to rebook, you must reach out to Chase which can be a pain especially when you’re pressed for time. This is especially relevant with an airline where changing plans can be very difficult through a third party like Chase. They’re acting as a liaison between you and the travel provider. It’s much easier to go straight to the source.

You will earn 1.5% back on all other travel not booked through Chase.

Chase Offers

Similar to Amex Offers, Chase has certain deals you can enroll in at various places to get cash back. While not as many or as exciting as Amex Offers, there are still some additional savings to be had. Additionally, most of these offers max out at $3 or $4 back so they aren’t as great as they look.

Chase Freedom or Citi Double Cash?

The Chase Freedom and Citi Double Cash are two of the best cards out there for everyday purchases that don’t have an annual fee. On paper the Double Cash is the better card for everyday purchases. However, I think more people are familiar with Chase and are more likely to have one of the other Chase cards that can turn your Chase Freedom cash back into Ultimate Rewards points. Additionally, the Freedom does have a few spending categories in addition to the quarterly bonus categories where the Double Cash does not.

Is it Worth It?

This is an all around awesome card especially since there isn’t an annual fee. Coupling this with the Sapphire Preferred or Sapphire Reserve only makes these points more valuable.

Don’t have one of the Sapphire cards or the Business Ink Preferred? No worries, you can always apply later and convert your Freedom points into Ultimate Rewards points down the road.

Chase Freedom Flex $200 Back Offer

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