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Chase Freedom Flex℠ Credit Card Review (2024) – One of the best no annual fee cards around

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The Chase Freedom Flex® credit card is one of the newer cards to be added to Chase’s credit card lineup, and it hasn’t taken long for it to become one of the most important miles & points credit cards on the market. With a $0 annual fee, great earning rates, and excellent benefits, this is a card that would fit very well with most people’s wallets.

The Chase Freedom Flex® credit card

Annual fee

  • $0 (zero)

Welcome offer

  • New cardholders will earn $200 (or 20,000 Ultimate Rewards Points) after they spend $500 on their card in the first 3 months of opening their new account, and they can earn 5% cash back on up to $12,000 of combined gas station and grocery store spending in the first year (excludes Target and Walmart).

Note: Chase classifies the Freedom Flex® credit card as a standalone product so the welcome offer is available to current holders of the Chase Freedom credit card (no longer open to new applicants) and the card_name (review).

Standard earning rates

  • 5% cash back (or 5 points/dollar) on up to $1,500 of spending in quarterly revolving categories.
  • 5% cash back (or 5 points/dollar) on travel purchased through the Chase Travel℠ portal
  • 3% cash back (or 3 points/dollar) on dining (includes takeout and delivery)
  • 3% cash back (or 3 points/dollar) on spending at drugstores
  • 1% cash back (or 1 point/dollar) on spending in all other categories

The Chase Freedom Flex® credit card comes with the same earning rates as the legacy Chase Freedom card, but also adds in 3% – 5% of cash back (3-5 points/dollar) in three other categories too.

Key benefits

The Chase Freedom Flex® credit card is a “World Elite” Mastercard which means that cardholders get a set of prepackaged benefits that the legacy Freedom credit card (which the Flex card replaced) never offered. These include:

  • Cell phone protection up to $800 per claim and $1,000 per year (max 2 claims per year with a $50 deductible)
  • Earn 5% cash back on Lyft rides through March 31, 2025. That’s 4% cash back in addition to the 1% cash back the card already offers.
  • $5 Lyft credit when a cardholder takes 3 rides in one calendar month and pays with their Flex card.
  • 5% Cash Rewards on Boxed Wholesale orders for use on future purchases.
  • Complimentary ShopRunner membership (free 2-day shipping at hundreds or retailers)
  • $5 off movie tickets with Fandango when you spend $20.

The card also offers:

  • Trip cancellation/interruption insurance – up to $1,500 per person and $6,000 per trip
  • 120-day purchase protection – up to $500 per claim and $50,000 per account
  • Extended warranty protection – this extends the time period of the U.S. manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
  • Secondary rental collision cover

Why I love the Freedom Flex® credit card

The welcome offer

The great news starts with the welcome offer where the $200 bonus could be considered an nice gift (assuming you never carry a balance and get charged interest and/or fees), which can be earned relatively easily (it only requires $500 of spending), and which can be earned while earning a fantastic rate of return.

Also, the 5% return on up to $12,000 of gas station and grocery store spending currently available in year 1, represents one of the best rates of return available for spending in those categories. And that’s from a card with a $0 annual fee.

If you happen to have the card_name (review), the card_name (review), or the card_name (review) the $200 bonus can be taken as 20,000 Ultimate Rewards Points which I value at $300 and the 5% cash back can be taken as 5 Ultimate Rewarsd points/dollar (more on this below).

The rates of return

3% – 5% cash back is an amazing return to be given by a no-annual-fee credit card, but for holders of one of the Chase Sapphire cards or the card_name, it gets better.

If you’re a fan of pure cash back, the Chase Freedom Flex® credit card will work very well for you, but it can also be an amazing card for anyone who loves earning a valuable rewards currency and who is prepared to put in a bit of extra work to maximize the value that their card offers.

When paired with one of the Chase Sapphire Cards or the card_name, the cash back that the Chase Freedom Flex® credit card offers can be taken in the form of Ultimate Rewards Points.

These points can be transferred to a variety of airline and hotel loyalty programs where they can be used to extract considerably more value than the basic cash back that the Flex card offers.

Essentially, the cash back that the Flex Card earns can be turned into a currency that can be used to book high-end hotels and premium cabin flights for considerably less than they would ordinarily cost.

I value Chase Ultimate Rewards Points at 1.5 cents each (based on the value I know I can easily get out of each point with relative ease) and that means that in effect, the Chase Freedom Flex® credit card offers me the following earnings rates:

Effective rebates of 7.5% on:

  • Travel booked through Chase
  • All quarterly spending categories

Effective rebates of 4.5% on:

  • Spending at drugstores
  • Spending on dining (including takeaway and delivery)

There are a number of premium credit cards on the market (i.e. cards with annual fees of over $200) that don’t offer rebates as good as these, and yet the Chase Freedom Flex® credit card comes with a $0 annual fee.

The excellent benefits

As if all of the above wasn’t enough reason to have the Chase Freedom Flex® credit card in your portfolio, just take a look at the list of benefits that a cardholder gets without having to hand over a dime in fees – the cell phone insurance alone is a great benefit to have, but Flex cardholders also get Lyft credits, Fandango credits and free ShopRunner membership all of which offer genuine savings.

Also, the Freedom Flex credit card offers trip interruption/cancellation insurance (useful if you’re using the Flex Card to earn 5% back on travel spending with Chase), extended warranties, and purchase protection as well.

It’s genuinely incredible that a card with a $0 annual fee can offer such an array of benefits that actually add value.

Bottom line

The Chase Freedom Flex® credit card is a “must-have” credit card for anyone who loves cash back and Ultimate Rewards. The earning rates are impressive, the welcome bonus is generous, and the benefits that come with the card can be money savers all on their own.

When you add all of that to the fact that this is a card that doesn’t charge an annual fee, it’s easy to see why Chase’s Flex card is one of the most popular cards around.

Our Favourite All-Round Travel Card


The card_name is Chase's incredibly popular entry-level Ultimate Rewards card which offers strong earnings on travel and dining and some great benefits too. Right now and in exchange for an annual fee of annual_fees, this card is offering all successful new applicants the following welcome bonus:


Our Favorite Benefits:

  • 5 points/dollar on most travel purchased through Chase Ultimate Rewards
  • 3 points/dollar for spending on dining worldwide
  • 3 points/dollar for spending on select streaming services
  • 2 points/dollar for spending on travel worldwide
  • Redeem points at 1.25 cents each when booking travel through Chase Ultimate Rewards.
  • Annual $50 credit for hotels booked through Chase
  • Primary auto rental cover

Click here for more details

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