The bottom line: This card is lucrative and ideal for optimizers who don't mind putting in some work to keep track of its rewards structure. If you want a no-fuss cash-back card that requires no maintenance, look elsewhere.
Pros & Cons
- No annual fee
- New cardholder bonus offer
- Bonus categories
- Cash rewards
- Intro APR period
- Requires good/excellent credit
- Complicated rewards
Compare to Other Cards
14.99% - 23.74% Variable APR
13.99% - 23.99% Variable APR
11.99% - 22.99% Variable APR
0% intro APR on Purchases for 15 months
0% intro APR on Balance Transfers for 18 months
0% intro APR for 14 months on purchases and balance transfers
Recommended Credit Score
Recommended Credit Score
Recommended Credit Score
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Among rewards credit cards, the strikes a powerful and unique pose. That's because this -annual-fee card — which replaced the decommissioned — features the best of both worlds: fixed bonus categories that range as high as 5% back, on top of 5% bonus categories that change each quarter.
Of course, all of those bonus categories mean , so if you're seeking simpler, more straightforward rewards with less maintenance, other cash-back cards will likely suit you better. But if you're an optimizer willing to follow and activate quarterly bonus categories while also paying attention to ongoing bonus tiers, the packs plenty of muscle.
Card type: .
Annual fee: .
Interest rate: .
Foreign transaction fee: 3%.
Other benefits: The Chase Freedom Flex is a , meaning you'll get perks like:
While the is considered a cash-back card, rewards actually come in the form of Chase Ultimate Rewards® points. If you choose to redeem points for cash back, you'll get 1 cent apiece. You can get the cash direct-deposited into your U.S. checking or saving account, or you can opt for a statement credit.
You can also redeem points for:
If you want to use your Chase Ultimate Rewards® points for travel, you can unlock greater value by with another Chase card that offers higher-value redemption options. (More details below.)
The and the have similar names and some shared benefits. But there's a key difference.
The has fixed bonus categories that don't change, plus an on "everything else." So if you like to keep things simple, it could be the better choice.
The earns just 1% back on non-bonus-category purchases. But unlike the , it also comes with 5% quarterly rotating bonus categories. This seriously boosts its earnings power but also means there's more to keep track of.
The table below highlights the differences between these two cards and the older , which is no longer accepting applications and has been effectively replaced by the Chase Freedom Flex. (If you have an original card, you can it to a by calling Chase.)
The current bonus: That's close to as good as it gets for a no-annual-fee credit card.
The 5% bonus cash back is available on broad categories that many people spend on every day. Categories could include gas stations, grocery stores, department stores, wholesale clubs and Amazon.com. Many cardholders will be able to rack up big bonus rewards without changing their spending habits much. (Just remember to activate bonus categories every quarter.)
But on top of the rotating 5% categories, the offers impressive rewards year-round in popular categories. Spend a good chunk of your monthly budget on dining out and delivery? Use your card and you'll earn 3% cash back each time, plus 3% at the drugstore. Unlike the 5% bonus categories, which are capped at $1,500 in spending per quarter, the 3% earnings on dining and drugstores are unlimited.
Chase Ultimate Rewards® points are typically worth 1 cent apiece, but several Chase cards give you a way to redeem them for 25% to 50% more value. By transferring your points from the to one of these other cards, you can supercharge your rewards:
Points on these cards can also be to about a dozen hotel and airline loyalty programs, including United, Southwest, JetBlue, British Airways, Marriott and Hyatt. Depending on how you use transferred points, that could get you even higher value.
Keep in mind that unlike the , these other Chase cards have annual fees.
In order to make the most of the , you'll have to pay attention to bonus categories — in particular the 5% categories, which change each quarter. You'll need to make sure you activate the bonus categories every three months or you'll miss out and earn only 1% back on that spending.
If that sounds like a lot of work, a simpler card that requires minimal effort may make more sense:
If you're traveling internationally, you can do better with a different card. The charges a 3% foreign transaction fee that will eat into your rewards. The is one of the few cash-back cards that don't charge these fees, plus it has a simpler rewards structure: You earn 1.5% cash back on all purchases.
It's not always easy to optimize a card like the . Your spending patterns may not fit neatly into rotating categories on a quarterly basis. If your refrigerator breaks, you need a new one now, even if this quarter's bonus categories are groceries and streaming services.
If you're looking for more customizable rewards, try the . It offers 5% cash back on two bonus categories you choose from a list of several options, on up to $2,000 in combined spending each quarter. It also earns an unlimited 2% on an everyday category you choose (such as gas or groceries) and 1% elsewhere.
For more information on choosing a cash-back credit card, browse our list of the .
The is a perfect fit for optimizers looking to squeeze the most out of their spending. It offers a massive bonus, and the card's rotating 5% bonus categories can yield an extra $300 per year if you max them out. Combine that with 5% back on travel booked via Chase, 3% on dining and at drugstores, and 1% on everything else, and it's one of the most lucrative cash-back cards on the market.
But that's a lot to keep track of, so if you're looking for a no-fuss, flat-rate cash-back card, other may suit you better.
on Chase's website
Frequently asked questions
If you don’t mind keeping track of rotating categories to maximize your rewards, the is . If you prefer rewards without maintenance, the might work better for you.
You’ll earn 5% on up to $1,500 in spending per quarter in bonus categories that you activate, plus 5% on travel purchased through Chase, 3% at restaurants and drugstores, and 1% on all other purchases.
The has rotating 5% bonus categories like the original , but it also offers permanent bonus rewards on travel booked through Chase, dining and drugstores. The is no longer taking applications, but existing cardholders can continue to use it.
One other difference: The original is a Visa, while the is a Mastercard.
The annual fee on the is .
Yes. You can combine from this and other Chase cards, plus you can transfer them to one other member of your household. If you hold a premium Chase card, like the , you can transfer your points to a variety of travel partners.
You’ll need good to excellent credit to get approved for the . Generally speaking, that translates to a credit score of 690 or better, though credit scores alone don't guarantee approval.