Is the Chase Freedom Flex® Card Worth It?

With lucrative travel rewards credit cards stealing the limelight, it’s easy to forget about cashback cards.

However, cashback credit cards can complement your points and miles strategy in numerous ways. The Chase Freedom Flex® is one cashback credit card that could be well worth a spot in your wallet—digital or physical.

Here’s a complete rundown of the card to answer the question: Is Chase Freedom Flex worth it?

Overview of the Chase Freedom Flex Credit Card

Here’s an overview of what the Chase Freedom Flex has to offer:

Key Benefits of the Chase Freedom Flex Credit Card

Let’s run through the card benefits of the Chase Freedom Flex credit card.

Welcome Bonus

The Chase Freedom Flex typically has a welcome bonus of $200 in cash back after spending $500 within the first three months of card membership.

It’s important to understand that Chase’s cashback cards don’t actually earn rewards in the form of cash back. Rather, they earn Ultimate Rewards points which can be redeemed as cash back only.

That means you’ll receive your $200 welcome bonus in the form of 20,000 Ultimate Rewards points which can be redeemed at 1 cent per piece for $200 in cash back.

However, if you also hold a Chase Sapphire Preferred® Card, Chase Sapphire Reserve® or Ink Business Preferred® Credit Card, you can transfer your Ultimate Rewards points earned on the Freedom Flex to one of these higher annual fee cards.

By doing this, you’ll be able to redeem your points for higher fixed values in the Chase Travel portal (between 1.25 and 1.5 cents per point) or transfer them to one of Chase’s 14 airline or hotel partners for even greater redemption value.

Quarterly Bonus Cashback Categories

One of the standout perks of the Chase Freedom Flex card is its quarterly cashback bonus categories. These are rotating bonus spending categories in which you can earn 5% cash back when you activate the bonus, on up to $1,500 in combined purchases per quarter (1% thereafter).

Typical bonus spending categories include but are not limited to:

• Grocery stores
• Hotels
• Restaurants
• Fitness clubs and gym memberships
• Self-care and spa services
• Gas stations

That means you can earn up to $75 in cash back every quarter in the 5% bonus categories alone, netting you potentially $300 back per year. Once you’ve earned the quarterly maximum, you’ll earn 1% cash back thereafter on remaining purchases until the end of that quarter.

In addition to the Chase Freedom Flex’s rotating bonus categories, you’ll also enjoy the following unlimited cashback bonus spending categories:

• 5% cash back on travel purchased through Chase Travel℠
• 3% cash back on dining at restaurants, including takeout and eligible delivery services
• 3% cash back on drugstore purchases
• 1% cash back on all other purchases

This wide selection of lucrative cashback categories has you covered. Whether it’s 3% cash back on dining and drugstores or 5% cash back on travel purchased through Chase, the Freedom Flex has your back for everyday expenditure as well as occasional travel purchases.

Complimentary DashPass

An added partner perk for Chase Freedom Flex cardholders is a complimentary three-month DoorDash membership—the DashPass.

As a DashPass holder, you’ll enjoy $0 delivery fees and reduced service charges on eligible orders with Caviar and DoorDash.

Once the three month period is up, you’ll be enrolled automatically in DashPass at a 50% discounted rate for the subsequent nine months.

You’ll need to activate the DashPass offer by January 31, 2025, to qualify.

Bonus Cash Back on Lyft Rides

You can earn 5% cash back on Lyft rides through March 31, 2025, as a Freedom Flex cardholder.

If you frequently take advantage of Lyft, this perk could earn you a significant return on your spending.

Zero Liability Protection

The Chase Freedom Flex offers zero liability protection insurance.

That means you won’t be held responsible for any unauthorized charges made to your card or using your account information.

Purchase Protection

When you use your Chase Freedom Flex credit card to purchase an eligible product, you’ll be insured for the first 120 days against covered damages or theft.

You’ll be covered on up to $500 per claim and $50,000 per account.

Extended Warranty Protection

If you purchase a product with an eligible U.S. manufacturer’s warranty of three years or less using your Freedom Flex card, you’ll enjoy extended warranty protection.

This extends the original warranty by an extra year.

Trip Cancellation/Interruption Insurance

When you pay for the entire cost of a trip using your Freedom Flex card, you’ll be covered in instances where your trip is cut short or canceled due to inclement weather, sickness or any other covered reason.

You’ll be reimbursed up to $1,500 per person and $6,000 per trip for your pre-paid, non-refundable passenger fares.

Cell Phone Protection

The Chase Freedom Flex is one of the few $0 annual fee cards that come with a solid cell phone protection plan.

If you pay your wireless bill using your card, you’ll be covered in instances of theft or damage. Coverage extends to all phones listed on your wireless bill, meaning your family can also jump in on the perk.

You can get up to $800 per claim and a maximum of $1,000 per year in cell phone protection. You can make a maximum of two claims within a 12-month period, and you’ll need to pay a $50 deductible each time.

Auto Rental Collision Damage Waiver

If you decline your rental company’s collision damage waiver and pay for your rental car using your Freedom Flex card, you’ll be covered in instances of collision damage or theft. Coverage is secondary in the U.S. and primary abroad.

You’ll be covered on up to the actual cash value of the car.

Cost-Benefit Analysis

Let’s compare the real-world value of the Freedom Flex’s perks with the cost of holding it to see if it’s worth it.

Analysis of Annual Fees

The Chase Freedom Flex has no annual fee, making it free to hold.

However, that’s not to say that it doesn’t come with other costs. Specifically, opting to hold the Freedom Flex card costs you a spot in your 5/24 count—Chase’s application rule preventing those who have opened five or more credit cards with any issuer in the last 24 months from opening a new card.

That means you need to work out if the value of the perks offered by the Chase Freedom Flex credit card is worth it taking up a spot in your 5/24 count, particularly when compared to some of Chase’s premium travel rewards credit cards.

Real-World Value of Benefits

The Chase Freedom Flex card shares many of the perks offered by its sibling card, the Chase Freedom Unlimited®. However, two perks put the Freedom Flex a step further ahead of the Freedom Unlimited in its value proposition.

First, the Freedom Flex’s quarterly rotating 5% cashback bonus categories perk is an easy way to earn up to $300 extra in cash back per year. The diverse range of rotating bonus categories enables you to cover a wider range of expenses that you wouldn’t otherwise earn rewards on.

Second, the Freedom Flex’s cell phone protection perk can amount to significant savings per year when you charge your wireless bill on your card. This can save you from having to take out a separate insurance policy.

On top of these standout perks, the Freedom Flex’s ability to be paired with a higher tier Chase card for point pooling makes it a great supplement to your wider points and miles strategy.

If you’re simply after a solid cashback credit card, the Freedom Flex card has one of the best offerings on the market, outpacing the Freedom Unlimited card.

10xTravel’s Experiences and Reviews

Here’s our own take on the Chase Freedom Flex card, detailing what we like and don’t like about it.

Positive Feedback

The Chase Freedom Flex card is a heavyweight when it comes to earning cash back.

Its combination of unlimited cashback earnings on everyday and travel expenses as well as capped quarterly cashback earnings on rotating bonus categories makes it highly lucrative.

The Freedom Flex goes a long way in enabling you to earn cash back on purchases you wouldn’t otherwise earn a return on, especially if you take advantage of rotating bonus categories.

Similarly, when paired with a Sapphire or Ink Business Preferred Credit Card, the Freedom Flex shows its mettle as a strong supplement to your primary travel rewards credit card.

We also like its extensive range of insurance perks, including trip cancellation and interruption insurance, auto rental collision damage waiver and cell phone protection. These are significant offerings for a $0 annual fee card, and can amount to large savings when used to their maximum.

The Freedom Flex’s additional partner perks—such as with Lyft and DashPass—can also come in handy if these are products you typically use.

Drawbacks

As a stand-alone cashback card or as a supplement to your primary travel rewards card, the Freedom Flex is a strong contender.

However, if you’re looking for a card that will help you get closer to your travel goals and reward travel spending, you’d be better off going for the Chase Sapphire Preferred or Reserve cards. You’ll find perks such as Priority Pass Select™ membership, a Global Entry or TSA PreCheck® statement credit and other premium perks on these higher annual fee cards, making them better suited for frequent travelers.

The Freedom Flex card offers little in the way of such travel perks and also comes with a hefty foreign transaction fee of 3%, making it unsuitable for spending abroad.

Likewise, while it’s a strong contender as a cashback card, its rotating quarterly bonus categories require activation. This can be annoying and it’s possible to forget to activate them, causing you to miss out on hundreds of dollars worth of cash back. That’s where its sibling card—the Chase Freedom Unlimited—offers more simplicity with no activation requirements.

Final Verdict: Is this Card Worth It?

The Chase Freedom Flex card could definitely be worth a spot in your 5/24 count.

If you don’t have any other heavyweight premium Chase credit cards in mind and are under your 5/24, the Freedom Flex is a sweet addition to your card arsenal, enabling you to expand your earnings potential. Pair it with a Sapphire or Ink Business Preferred Credit Card and you can reap even greater value out of its earnings.

Alternatively, if you’re trying to build up your credit score, are new to the points and miles game or are simply against paying an annual fee, the Freedom Flex is a great credit card to go for.

Whatever your situation, keep in mind to activate the quarterly bonus categories so you can maximize your cashback earnings.