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Saturday, September 18, 2021

Chase Freedom Flex Credit Card, Review, Benefits, Rewards and Fee




Chase Freedom Flex provides so much value for the right person, however, the cashback is kind of complicated. New cardholders will gain a cool sign-up bonus with a low minimum spending requirement.

Chase Freedom Flex

With about 5% cashback on purchases in some select bonus categories. The Chase Freedom Flex card also provides a 15 month 0% annual percentage rate for purchases.

After which the APR is 14.99%-23.74% Variable. Also, the card does not charge any annual fee. However, it charges 5% or a minimum fee of $5 on balance transfers

Chase Freedom Flex Reviews

The Chase Freedom Flex card earns 5% cashback in quarterly rotating categories close to $1,500 in merged purchases every quarter. And also on travel bought via the Chase Ultimate Rewards.

It also gives a 3% cashback on dining and drugstore purchases as well as 1% on every other thing. In all, it has a one-time bonus and every cool benefit.

Chase Freedom Flex Benefits

  • Extended warranty protection.
  • Auto rental collision damage waiver secondary coverage.
  • Cell phone insurance protection
  • Trip cancellation or interruption insurance
  • Purchase protection
  • Mastercard World Elite program benefits
  • Complimentary DoorDash DashPass.

Chase Freedom Flex Rewards

Below are the rewards you can earn with the Credit Card:

  • You earn 5% cashback on up to $1,500 in bonus categories you active quarterly.
  • 5% back on Lyft rides through March 2022.5% back on any travel you book via the Chase Ultimate Rewards portal.
  • 3% back on dining. Takeout, eligible delivery services, and drugstore purchases are not excluded.
  • 1% back on every other eligible purchase.
  • You can as well earn a $200 cash bonus after you spend $500 on purchases in your first 3 months from account opening.

Pros and Cons of the Chase Freedom Flex Credit Card

Pros

Below are some of the advantages of the Chase Freedom Flex:

  • The card offers a solid sign-up bonus.
  • It earns close to 5% cashback in select bonus categories.
  • The chase freedom flex card charges no annual fee.
  • It provides an introductory 0% APR for purchases.

Cons

In as much as the card has so many advantages. There are still some things that you might not like about the card which include:

  • Caps rotating bonus category rewards
  • It earns a 1% base rewards rate.
  • The card charges a potentially high APR.
  • It applies a balance transfer fee.

Rates and Fees

Issuer Name: Chase
Purchases Intro APR: 0% Intro APR on Purchases for 15 months
Credit Needed: Excellent, Good
Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
Annual Fee: $0
Cash Advance Fee: Either $10 or 5% of the amount of each transaction, whichever is greater.
APR: 14.99%-23.74% Variable
Penalty APR: NONE

Who is the Card Great For?

The card is great for:

  • Fee-averse consumers.
  • Users of credit card who need a wide range of rewards.
  • Shoppers who want to finance huge purchases.

Not Great For?

The card is not great for:

  • A consumer that wants big sign-up bonuses
  • Those who want simple rewards programs.
  • And credit card users who carry a balance.

Conclusion

In all, The Chasse Freedom Flex Credit Card is not the best choice or best pick for everyone.

If you do not spend so much on the bonus categories of Chase Freedom Flex, then I am sorry to say you may end up getting 1% back only on most of the purchases you make.

In addition to that, activating the rotating bonus categories takes some additional extra legwork. However, if you feel it is tricky, then you may want to opt for a card having a high flat rewards rate on everything.

Just like the American Express Cash Magnet Card.

Also, have it at the back of your mind that the Chase freedom Flex Credit Card can as well have a high APR, though based on your creditworthiness.

If you are the type that does carry a balance, then this card might not be for you.

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