Disclaimer: The information about Chase Freedom Flex has been collected independently by MoneyUnder30.com. The card details have not been reviewed or approved by the card issuer.
It’s no secret that there are tons of credit cards on the market. And no matter how they’re advertised, it seems like it’s difficult to find a rewarding card if you don’t want to spend thousands every year – and most people don’t, for fear of accruing a large debt.
Well, there’s finally an antidote! The Chase Freedom Flex℠ offers a whopping 5% cash back in bonus categories each quarter you activate, so even if you only use your card here and there (meaning, you’re not a heavy user), you’re still in the running for some major rewards. (And if you use your card a lot – you’ll definitely see why this is also the perfect card to use for your everyday purchases).
Plus, for those who want a NO ANNUAL FEE card and who love “free” money, you’ll be especially excited by the sign-up bonus that the Chase Freedom Flex℠ offers. You can earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening. That’s not too hard to do – just throw the purchases you would normally make with another card on this card instead, and it’s like you’re getting $200 for doing practically no work – who doesn’t love that?
Today, I’ll take a look at how much you can really earn with the Chase Freedom Flex℠.
Let’s get started!
What’s Ahead:
Chase Freedom Flex℠ credit card key facts
- Introductory offer: You’ll earn a simple (but easily attainable) $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
- Limited 5% cash back: Earn 5% cash back on purchases in bonus categories, with a limit of $1,500 per quarter each time you activate, as well as all travel booked through Chase Ultimate Rewards®.
- Select 3% cash back: Earn unlimited 3% cash back on dining and drug store purchases.
- Unlimited 1% cash back: Earn 1% cash back on every dollar spent in all other categories.
- Low intro APR: 0% Intro APR on Purchases for 15 months and 0% Intro APR on Balance Transfers for 15 months (followed by an APR of 19.74% - 28.49% Variable)
- No annual fee: There’s never an annual fee associated with this card.
- No expiration on rewards: Use your rewards when it’s most convenient for you, as your rewards never expire.
- Account protection: Chase monitors your account for fraud and notifies you of suspicious activity, which is becoming all too common these days.
- Partner program savings: Earn bonus rewards by making purchases from Chase’s partners.
- Easy redemption: You can use your rewards points for cash, gift cards, Amazon dollars, or travel.
How much can I earn in rewards?
The Chase Freedom Flex℠ is the perfect starter rewards card, as it kicks you off with a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
So if you plan to spend just $166.66 a month during each of the first three months you have the card, you’ll get $200 cash back. It’s that easy.
As for more cash back, Chase Freedom Flex℠ has a VERY rewarding program. For starters, you’ll get 5% cash back in the bonus categories each quarter that you activate. And since that’s clearly not enough (sarcasm intended), whenever you book travel through Chase’s travel portal, you’ll also earn 5% cash back.
Chase Freedom Flex℠ doesn’t stop there: you’ll also earn 3% cash back on dining and drug store purchases, as well as an additional 1% in cash back on everything else.
Since it’s difficult to predict how all of you will spend in the 5% cash back categories, the table below shows how the 1% cash back adds up, assuming you spend $2,000 each month.
First-year earnings Earnings in subsequent years
Annual fee $0 $0
Sign-up bonus $200 $0
Rewards earnings $240 $240
Bonus earnings 5% cash back in select categories that you activate each quarter, 5% cash back on travel purchases made through Chase Ultimate Rewards, 3% cash back on dining and drug store purchases 5% cash back in select categories that you activate each quarter, 5% cash back on travel purchases made through Chase Ultimate Rewards, 3% cash back on dining and drug store purchases
Total $440 $240
If you do spend $2,000 a month, that’s $20 a month cash back, which means you’ll earn a minimum of $240 a year – for a 1% cash back category.
That’s pretty impressive.
That doesn’t even account for the 5% cash back bonus categories, 5% cash back on travel booked through Chase Ultimate Rewards®, and 3% cash back on dining and drug store purchases – so you should expect to earn way more if these categories are your favorites.
Other considerations
When you sign up for Chase Freedom Flex℠, you start earning cash right away on every dollar you spend. But you’ll also get a $200 bonus after you spend $500 on purchases in the first 3 months from account opening. It’s not the highest sign-up bonus out there, but the low spending requirement makes it more achievable, and a great option for those who don’t spend much on their credit cards. Again, if you’re going to spend a mere $166.66 dollars for the first 3 months of getting the card, you’ll get $200 cash back right to you.
You’ll also get a 0% Intro APR on Purchases for 15 months and 0% Intro APR on Balance Transfers for 15 months. After that introductory period, you’ll pay a rate between 19.74% - 28.49% Variable – again, not the lowest, but you should try your best not to carry a balance on any of your credit cards.
With this card, you do have to activate your offers every quarter, but you’ll be rewarded heavily for taking the few seconds to activate. Also, Chase knows that we all forget the little things, so they’ll send you an email reminding you to activate. The 5% categories you have to activate change every quarter and are typically in the areas consumers spend often, such as utilities and fuel.
If you don’t like remembering to activate categories each quarter, or you want a slightly higher cash back rate for all of your spending, you can find that with other cash back credit cards. But Chase Freedom Flex℠’s 5% bonus categories offer can add up quickly. If you spend just $200 a month in those bonus categories, that’s $10 extra each month for spending in the areas in which you would have spent anyway.
Summary
With Chase Freedom Flex℠, you get 5% cash back on select categories, 5% on travel purchased through Chase Ultimate Rewards®, 3% back on dining and drugstores and 1% cash back on every dollar you spend on all other purchases.
Whew, if that sounds like a mouthful, it’s because it is! Chase understands where many of us spend the most and reward us accordingly. It’s a great card for those who want to earn money without paying an exorbitant amount in interest or a high annual fee.
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