Is the New Chase Freedom Flex Worth It?

In addition to rotating bonus categories, this card offers point bonuses in several everyday spending categories.

Alex CramerOctober 7, 2020
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On a similar note...
Is the new Chase Freedom Flex worth it?

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The Chase Freedom Flex℠ offers a surprising number of ways to earn bonus cash back through everyday spending, 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 collection? Here’s a look at the card 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 don’t need to earn enough rewards to justify the cost of the card.

Lots of ways to earn bonus cash back

Here’s where the Chase Freedom Flex℠ really shines: You earn high cash back bonuses by using the card to pay for purchases in a wide number of categories. You earn 5% cash back when you use the card to purchase travel through the Chase travel portal, 3% back for dining out, takeout and qualifying delivery services, and 3% back on all drug store purchases.

These categories alone would be generous, but the Chase Freedom Flex℠ goes even further and offers you 5% cash back on all grocery store purchases (excluding groceries purchased at Target or Walmart) for up to the first $12,000 you spend in a calendar year. The card also pays 5% back for purchases in other categories that rotate on a quarterly basis, for up to the first $1,500 you spend in those categories.

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 a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. That’s good compared to other no-fee cards, like the American Express Cash Magnet® Card, which has this offer: Earn a $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership. Terms Apply.

Lyft, DoorDash perks

For rideshare users, the Chase Freedom Flex℠ card earns 5% back on all Lyft rides through March 31, 2022.

You will also be eligible for a free three-month subscription to DoorDash’s premium service, DashPass, and will receive a 50% discount for the next nine months after that, which should make it easier to take advantage of the 5% spending bonus for restaurant deliveries.

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.

How to Maximize Your Rewards

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