Published in: Credit Cards | Sept. 18, 2020
By: Lyle Daly
There's a lot to like about the Chase Freedom Flex℠, and if you're in the market for a cash back card, it should be on your radar.
As of today, you're free to apply for the Chase Freedom Flex℠, which is Chase's newest credit card. And even though new credit cards often get quite a bit of attention, this is one time where that's well-deserved. The Chase Freedom Flex℠ has a laundry list of valuable features, and it offers them all for no annual fee.
If you want to get up to speed on this card and figure out whether you should apply, we've put together a quick primer with all the most important details.
There aren't a lot of credit cards that equal the Chase Freedom Flex℠ when it comes to bonus cash back. Here are its cash back rates and bonus categories:
All other purchases will get you the standard 1% back.
There are two ways that the Chase Freedom Flex℠ can save you lots of money from the beginning:
Here's an extra perk that can be a lifesaver for the many consumers with smartphones. If you use your Chase Freedom Flex℠ to pay your cell phone bill, then any cell phones listed on that bill will be covered under this credit card's complimentary insurance policy.
The policy protects against covered theft or damage up to an $800 maximum per claim and $1,000 maximum per year, with a $50 deductible on each claim. There's also a limit of two claims per 12-month period.
Considering how much it can cost to repair or replace a smartphone, cell phone insurance is nice to have. And it's even nicer when you don't need to pay for it yourself.
One of the great things about Chase credit cards is that you can transfer rewards between them. That means you can take the cash back you've earned on your Chase Freedom Flex℠ and send it over to a Chase travel card, with each $1 in cash back being worth 100 Ultimate Rewards points.
This allows you to get the best of both worlds. You can use the Chase Freedom Flex℠ for purchases in any of its bonus categories where it will earn more than your Chase travel card. You can then transfer its rewards to the travel card, where you'll have all the travel redemption options of Chase Ultimate Rewards points.
For Chase credit cards, there's an application rule to be aware of. It's known as Chase's 5/24 rule, because the card issuer almost always denies applications from anyone who has opened five or more credit cards over the previous 24 months.
If you don't open new credit cards that often, then you probably don't need to worry about this rule. But if you think that you may be near the limit, then it's a good idea to check how many cards you've opened recently to make sure you're not wasting your time.
Although there are quite a few impressive cash back cards out there, Chase has still found a way to make a splash in a crowded market. The bonuses and other perks that the Chase Freedom Flex℠ has to offer are top notch, so if you were planning to get a new credit card, this is one to strongly consider.
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.
But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases until late 2021, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.
That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.
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