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- The brand new Chase Freedom Flex℠ card is a superb possibility for incomes money again, with extra bonus classes than the Chase Freedom, which it is changing.
- If in case you have the unique Chase Freedom card, it is price both making use of for the Freedom Flex or requesting a product change to the newer card.
- For those who apply for the Chase Freedom Flex℠, you possibly can earn $200 again after spending $500 within the first three months, plus 5% money again on groceries (excluding Goal and Walmart) on as much as $12,000 spent within the first 12 months of account opening.
- Whereas the Chase Sapphire Most popular card earns extra priceless factors, the Freedom Flex could possibly be a very good various due to bonus money again on related classes.
- See Enterprise Insider’s information to one of the best cash-back bank cards »
Chase lately launched a brand new card known as the Chase Freedom Flex, which earns money again with no annual charge. The Freedom Flex replaces the outdated Chase Freedom card for brand new candidates, although if you have already got the Chase Freedom you possibly can hold your card.
The Chase Freedom Flex presents the identical quarterly bonus classes that got here with the unique Chase Freedom card. Every quarter, you’ll get 5% money again on the primary $1,500 spent within the specified quarterly bonus classes once you activate (then 1% again). The Freedom Flex card additionally earns 5% again on journey bought via the Chase Final Rewards portal, and three% on eating at eating places, takeout and supply, and at drugstores. You will get 1% again on all different purchases.
So, who ought to think about this new card? Anybody in search of an awesome cash-back card ought to give the Freedom Flex a glance, in addition to the next 4 teams of individuals.
Common APR
14.99% – 23.74%
Credit score Rating
Good to Glorious
Featured Reward
$200 Bonus after you spend $500 on purchases in your first three months from account opening
Intro APR
zero% for the primary 15 billing cycles
- Earn a $200 Bonus after you spend $500 on purchases in your first three months from account opening.
- Earn 5% money again on grocery retailer purchases (not together with Goal® or Walmart® purchases) on as much as $12,000 spent within the first 12 months.
- Earn 5% money again on as much as $1,500 in mixed purchases in bonus classes every quarter you activate. Get pleasure from new 5% classes every quarter!
- Earn 5% on journey bought via Chase, three% on eating at eating places and drugstores, and 1% on all different purchases.
- No annual charge.
- zero% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 – 23.74%.
- No minimal to redeem for money again. Money Again rewards don’t expire so long as your account is open.
Professionals
- No annual charge
- Beneficiant bonus cash-back classes
- Nice welcome bonus
Cons
- Reserving via Final Rewards portal can prohibit exterior incomes potential
- Various percentages and rotating calendar classes require further consideration
- three% international transaction charges
Present holders of the Chase Freedom card
The Chase Freedom card is now closed to new candidates. But when you have already got the unique Chase Freedom card, you will solely earn greater than 1% money again on the 5% rotating quarterly bonus classes, that are capped at $1,500 in spending every quarter.
The unique Chase Freedom card doesn’t have the bonus rewards on journey, eating, or drugstores. So if in case you have the Chase Freedom card, you would possibly think about getting the Freedom Flex for the extra rewards.
One possibility could be to do a product change, and change your Freedom card with the Freedom Flex. This feature is greatest for individuals who choose simplicity.
There are two causes that you just would possibly think about preserving your unique Freedom card and making use of for a brand new Chase Freedom Flex as a substitute. First, solely new candidates will get the $200 welcome bonus on the Freedom Flex. For those who product change from an present Chase bank card, you’ll not get the welcome bonus.
The second purpose is that you’re restricted to five% money again on the rotating quarterly bonus classes solely on the primary $1,500 spent every quarter. If in case you have each the Freedom AND the Freedom Flex card, you’d be capable of double your bonus every quarter. You continue to have the choice to cancel your unique Freedom card later if you wish to simplify your pockets — however keep in mind, neither card has an annual charge.
Individuals underneath Chase 5/24
Like different Chase bank cards, the Chase Freedom Flex is topic to Chase’s 5/24 rule. That implies that when you’ve opened 5 or extra bank cards from any financial institution prior to now 24 months, you’ll not be permitted for the brand new Freedom Flex card.
So you will have to be underneath the 5/24 threshold so as to get the Freedom Flex card. For those who’re over 5/24 with no hope of getting underneath any time quickly, you could possibly think about a product change from one other Chase bank card reminiscent of the unique Freedom card.
These in search of a versatile rewards bank card with no annual charge
The Chase Freedom Flex is a extremely stable possibility for individuals who desire a rewards bank card with no annual charge. The Freedom Flex takes the rotating quarterly bonus classes of the unique Freedom card and presents bonuses on a few of the hottest spending classes: journey, eating, groceries, and drugstores.
The Chase Freedom Limitless® is one other card that has no annual charge and earns Final Rewards factors. The Chase Freedom Flex and the Chase Freedom Limitless® have the identical bonuses on journey, eating, grocery, and drugstores. For those who’re contemplating one in all these two playing cards, try our comparability of the Chase Freedom Flex and the Chase Freedom Limitless.
Common APR
15.99%-22.99% Variable
- Earn 80,000 bonus factors after you spend $four,000 on purchases within the first three months from account opening. That is $1,000 towards journey once you redeem via Chase Final Rewards®.
- 2X factors on journey and eating at eating places worldwide, eligible supply providers, takeout and eating out & 1 level per greenback spent on all different purchases.
- Get 25% extra worth once you redeem for airfare, accommodations, automotive leases and cruises via Chase Final Rewards. For instance, 80,000 factors are price $1,000 towards journey.
- Get limitless deliveries with a $zero supply charge and lowered service charges on orders over $12 for no less than one 12 months on qualifying meals purchases with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
- Earn 5X factors on Lyft rides via March 2022. That’s 3X factors along with the 2X factors you already earn on journey.
Professionals
- Excessive sign-up bonus begins you off with a lot of factors
- Sturdy journey protection
Cons
- Would not supply a International Entry/TSA PreCheck utility charge credit score or another assertion credit score advantages
Some Chase Sapphire Most popular cardholders
The bonus classes on the brand new Chase Freedom Flex are so engaging that it may even be an alternative choice to Chase the Chase Sapphire Most popular® Card. Sure, the Sapphire Most popular has some options that the Freedom Flex doesn’t, like the power to switch to journey companions or redeem for 25% extra via the Final Rewards portal. However the Sapphire Most popular additionally comes with a $95 annual charge.
You will want to look at your personal spending and redemption patterns to see if preserving the Sapphire Most popular is smart to you. If the Sapphire Most popular is your solely premium Chase bank card, that alone could possibly be a purpose to maintain it. The power to switch Final Rewards to lodge and airline journey companions is tremendous priceless, so giving it up is a giant deal. However if in case you have one other premium Chase card just like the Ink Enterprise Most popular® Credit score Card or Chase Sapphire Reserve®, it might make sense to downgrade your Sapphire Most popular to a Freedom Flex card.
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