The Chase Freedom Flex (CFF) Mastercard is a rotating-category card like the Discover It Cash Back. Both earn a limited 5% cash back on select quarterly categories. However, CFF adds bonus categories for enhanced year-round rewards, and points are worth much more through the ”Chase Trifecta.” Chase and Discover are a good team whenever their categories don’t overlap. If the Freedom Flex sounds familiar, it might be because it’s an upgrade of the bank’s older rotating-category card (Chase Freedom Visa).
FEATURES AT A GLANCE
- No annual fee
- 3% foreign transaction fee
- 5x points on rotating quarterly categories (on up to $1,500 in spending)
- 5x points on travel purchased through Chase Ultimate Rewards (flights, hotels, car rentals)
- 3x points at restaurants (including takeout and delivery)
- 3x points at drugstores and pharmacies
- 1x points on everything else
- Chase Offers
Click here for 2024 categories.
Click here for 2023 categories.
Categories typically look like:
- Q1 Jan-March: Grocery stores or gas stations, plus 1-2 other categories
- Q2 April-June: Amazon plus streaming/retail
- Q3 July-Sept: Gas stations or grocery stores plus entertainment/streaming
- Q4 Oct-Dec: Paypal plus Walmart or wholesale clubs or department stores
SIGN UP BONUS
As of February 2022, both Freedom Flex and Freedom Unlimited have the same sign-up bonus (SUB). You can earn $200 (20,000 UR points) after spending $500+ in 3 months. Plus, you’ll get 5% cash back (5x points instead of 1x points) on gas station purchases for 12 months (or until you spend $6,000 on gas, whichever comes first). The Chase Freedom Flex also has 0% APR for 15 months.
Sign-up bonuses on Chase cards will vary, sometimes every few months. Previously (in the second half of 2021) Chase Freedom cards gave 5% cash back on groceries instead of 5% back on gas. This would be a better offer for most people, and hopefully it comes around again.
OTHER BENEFITS OF THE CHASE FREEDOM FLEX CARD
- Mastercard World Elite benefits (if eligible)
- 3 free months of DoorDash Dashpass (must activate by December 2024) plus $5 off your first order monthly (discount appears during checkout as a standard World Elite benefit)
- 3 free months of Instacart+ (must activate by July 2024) plus $10 quarterly credit ($40 annual maximum benefit)
- 5x points with Lyft (until March 2025)
- Cell phone insurance (up to $800 per claim with a $50 deductible)
RESTRICTIONS AND CREDIT SCORE
Recommended credit score: 670+
Chase Bank has what’s known as the “5/24 rule.” If you’ve applied for 5 or more credit cards in the past 24 months, you’ll automatically get denied when applying for a new Chase card. Aspiring credit card churners often get Chase cards early on, because other issuers don’t have this exact restriction. However, Chase also prefers that applicants have 12+ months of credit history. Being approved for a card has varying odds if you’ve never held a credit card before. Chase is often for a second or third card instead of first.
One of the CFF downsides is that the quarterly categories are announced about two weeks before the next quarter starts. Discover and similar issuers reveal the entire year’s calendar in advance. Chase is much more unpredictable. They do always have at least 1 quarter of: groceries, gas, streaming, or Paypal.
Then we have a quarterly spending limit of $1,500 ($6,000 per year). After you reach a limit, the card earns 1x points instead of 5x until the next quarter starts. Some people bypass this restriction by holding multiple Freedom or Freedom Flex cards, although this isn’t guaranteed to work now that the regular Freedom is discontinued.
MAXIMIZING REWARDS WITH THE CHASE FREEDOM CARD
Points can be redeemed for statement credit at $0.01 per point (1 cpp). Sometimes the Chase Freedom has extra opportunities to get bonus value from the points. It’s usually around 1.1 cpp in that case. For the best bang for your buck, see our article on the Chase Trifecta strategy. CFF’s 5x categories can turn into 7.5% cash back or more.
The sign-up bonus is considerable. Although $200 may sound fairly low, you only have to spend $500 (40% return) and you earn points on that $500. Then if you have a Chase Sapphire card and redeem UR at $0.02+ each (2+ cpp), getting the Chase Freedom SUB is worth more than $400 (80+% return) not including other bonuses or points earned.
Check the “Chase Offers” section in-app and on their website for other temporary opportunities. Chase may have other bonuses from time to time. For example, in late 2021, you could get another 5% cash back on select categories with the CFF.
If you max out the quarterly categories each year, you’ll earn 30,000 points ($300 cash value) from $6,000 in spending. That’s worth at least $450 with the Chase Sapphire Reserve.
Points are unlimited (outside of the quarterly categories) and don’t expire.
ALTERNATIVES TO THE CHASE FREEDOM
Because the Chase Freedom Flex has unpredictable rotating categories, it doesn’t have a close alternative outside of Discover. It’s hard to know what you’ll earn 5x points on.
For a general-use card, any of the best everyday cards will work. You’ll want to earn at least 2% cash back on all purchases. Although the Freedom Flex has the potential to earn at least 2% back on everything with the Chase Trifecta, it’s unlikely and sub-optimal. If anything, the Freedom Unlimited is the better general-spend card.
For drugstore/pharmacy purchases, a good alternative is the Citi Custom Cash or Venmo card. Venmo’s “drugstore” category is fairly expansive. It also covers cosmetics, health clubs, tennis courts, golf clubs, and more. The Upgrade Triple Cash Rewards is similarly versatile. There are a few different options in this category depending on your needs. Chase Freedom cards are still better than most options but it does depend on where you go.
For dining-related expenses, the US Bank Altitude Go or Citi Custom Cash are high earners. Cardless Celtics and Pelicans cards are good alternatives. Read about the top cards on our list here. Earning 3% back isn’t the best rate.
5x points on select travel is fine. It’s generally better than most other no-fee travel cards which earn around 3% cash back. Higher rewards aren’t always better though. Many people prefer to book directly with airlines and hotels. Going through an intermediary like Chase or Expedia may have downsides (potential miscommunication, improper booking procedures, vague cancellation policies, etc.)
CONCLUSION
Chase Freedom Flex is a valuable no-fee card considering the rotating quarterly categories and free cell phone insurance. Almost anyone can effectively use this credit card, and it’s arguably better than the Chase Freedom Unlimited.
Freedom cards work best when combined with a Sapphire Reserve or Chase Sapphire Preferred. You can earn more than 2% cash back on all purchases, and easily get 7.5% to 10% with the CFF. Without a Sapphire card though, the Freedom Flex is still a solid earner. With rotating categories, restaurants, drugstores, pharmacies, some travel, and bonus perks, the CFF is well above average. The sign-up bonus is also excellent enough that most people will consider opening a card, especially with 5% cash back on gas. (Even if it’s a limited-time offer, it’s an alright deal.) Few no-fee cards get 5% cash back rates (or higher) and Chase even added bonuses to sweeten the deal.
We rate the Chase Freedom Flex card 5 out of 5 stars. ⭐⭐⭐⭐⭐
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Note: This review was last updated in February 2022. Details may have changed since then. Please do your own research where applicable, to ensure you’re getting the best deal. Or contact us directly to benefit from our personalized consulting services!