Is the Chase Freedom Flex Worth It?

In addition to rotating bonus categories, this card offers point bonuses in several everyday spending categories.
Is the new Chase Freedom Flex worth it?

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

The Chase Freedom Flex℠ offers a surprising number of ways to earn bonus cash back through everyday spending and quarterly rotating bonus categories, making it a potential game-changer for Chase Ultimate Rewards® collectors.

But with so many Chase Ultimate Rewards® members already carrying several different Chase cards, it's worth asking: Does it make sense to add the Chase Freedom Flex℠ to your portfolio? Here’s a look at the card's features to help you decide.

$0 annual fee

The flagship cards in the Chase Ultimate Rewards® program — Chase Sapphire Preferred® Card and Chase Sapphire Reserve® — come with annual fees, $95 and $550, respectively. The Chase Freedom Flex℠ on the other hand has a $0 annual fee, which means you earn Chase Ultimate Rewards® points without paying an annual fee.

Valuable perks of the Chase Freedom Flex℠

Lots of ways to earn bonus cash back

Here’s where the Chase Freedom Flex℠ really shines: You earn 5% cash back on quarterly rotating bonus categories as well as bonus points on several other useful categories, including:

  • 5% cash back on travel purchased through the Chase Ultimate Rewards®.

  • 5% cash back on Lyft rides through March 2025.

  • 3% back for dining out, takeout, qualifying delivery services and drugstore purchases.

When you use the card to make purchases not in one of the bonus categories, you earn 1% cash back.

By comparison, the Chase Sapphire Reserve® pays only 3% back on travel and dining out, despite its high annual fee.

$200 cash back welcome bonus

Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!  This offer requires less spending than the bonus of another popular no-fee card, the Chase Freedom Unlimited®.

Streaming

Only subscription services paid for with the listed select merchants will qualify for this offer:

  • Disney+.

  • Hulu.

  • ESPN+.

  • Netflix.

  • Sling.

  • Vudu.

  • Fubo TV.

  • Apple Music.

  • SiriusXM.

  • Pandora.

  • Spotify.

  • YouTube TV.

Purchases other than subscription services, such as music or video downloads, equipment or gift cards do not count towards the quarterly bonus category.

Fraud protections

The card also offers an entire suite of credit protections to protect you from fraud and unauthorized transactions, including zero liability protection, real time fraud monitoring and free credit score and identity restoration services.

The bottom line

The Chase Freedom Flex℠ is a good addition for just about any Chase Ultimate Rewards® collector. A $0 annual fee means that there’s essentially no risk in trying the card out, and the large selection of high-earning bonus categories means this card offers tons of earning potential.

The only reason not to get the Chase Freedom Flex℠ is if you can’t fit your spending habits into the card’s bonus structure. Considering that this card offers cash back on both eating out and buying groceries, most users won’t have that problem.

All information about the American Express Cash Magnet® Card has been collected independently by NerdWallet. The American Express Cash Magnet® Card is no longer available through NerdWallet. 


How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2022, including those best for:

partner programs

IHG® One Rewards
Get exclusive benefits and earn points faster
World of Hyatt
Enjoy free nights, member rates and more
Alaska Mileage Plan
Join Mileage Plan and Save $25 on your next flight
IHG® Rewards Program

IHG® One Rewards

Wherever you go, however you stay, IHG One Rewards offers rewards for every one.

on IHG One Rewards’ website

Highlights:
  1. Cheers to new tiers: New tiers allow members to earn points faster.
  2. Piling on the perks: New members benefits that enhance every stay
  3. Milestone Rewards: Allows members to choose their rewards.
Highlights
  1. Cheers to new tiers: New tiers allow members to earn points faster.
  2. Piling on the perks: New members benefits that enhance every stay
  3. Milestone Rewards: Allows members to choose their rewards.

on IHG One Rewards’ website

World of Hyatt

World of Hyatt

With the World of Hyatt loyalty program, enjoy a world of rewards designed to revolve around you.

on Hyatt's website

Highlights:
  1. Earn points for things you already enjoy with Hyatt
  2. Use your points for free nights at more than 1,100 hotels around the world
  3. Three elite tiers to unlock exceptional benefits - room upgrades and more.
Highlights
  1. Earn points for things you already enjoy with Hyatt
  2. Use your points for free nights at more than 1,100 hotels around the world
  3. Three elite tiers to unlock exceptional benefits - room upgrades and more.

on Hyatt's website

logo image

Alaska Mileage Plan

Mileage Plan is Alaska's loyalty program for anyone who loves to travel and is free to join!

on Alaska's website

Highlights:
  1. Join Mileage Plan and Save $25 on your next flight
  2. Our members earn 30% more miles on average than other airlines
  3. You earn based on how far you fly, not how much you spend
Highlights
  1. Join Mileage Plan and Save $25 on your next flight
  2. Our members earn 30% more miles on average than other airlines
  3. You earn based on how far you fly, not how much you spend

on Alaska's website

Get more smart money moves – straight to your inbox
Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.