7 Reasons to Consider Applying for the Chase Freedom Flex Card

A cashier at a cafe running a credit card.

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The Chase Freedom Flex℠ has just come out, and you may be wondering if it's a card you should add to your wallet. You can get hundreds or even thousands of dollars in value from the right credit card -- one that rewards your spending habits. But the flip side is that missing out on the right card can also cost you quite a bit.

To help you figure out if the Chase Freedom Flex℠ is the right card for you, here are the best reasons to apply.

1. A $200 sign-up bonus for no annual fee

The Chase Freedom Flex℠ is fantastic value, in part because it doesn't have an annual fee. Since no-annual-fee credit cards don't cost a thing, any rewards you earn will put you ahead.

That'll happen shortly after you get this card, too, because it offers a $200 bonus for making $500 of purchases within three months. Sign-up bonuses can be a nice incentive to apply for a card, and this is an easy one to get.

2. 5% back on your first year of grocery spending

During the first year you have the Chase Freedom Flex℠, it earns 5% back on up to $12,000 of grocery store purchases. This bonus category doesn't include Walmart or Target purchases. Still, it's a very high rate in a category where just about everyone spends money. And if you shop for a big family with an expensive grocery bill every month, getting 5% cash back will save you quite a bit.

3. Pay no interest on purchases for 15 months

This card has an introductory 15-month 0% APR on purchase, so you won't get charged any interest if you carry a balance during this time period.

Now, it's smart to be cautious with zero-interest credit cards. If you don't pay off the full balance within the intro period (in this case, 15 months), your card issuer will start charging you interest on whatever remains.

We don't recommend you carry a balance simply because there's zero interest. But if you have expensive purchases that you can't pay off all at once, the 0% APR of the Chase Freedom FlexSM allows you to pay off what you charge over time.

4. Get new 5% bonus categories every quarter

Another way to earn big cash back from the Chase Freedom Flex℠ is its rotating bonus categories. You'll earn 5% back on up to $1,500 in combined purchases each quarter across these categories after you activate them.

Chase has offered a variety of different categories in the past, such as Amazon, PayPal, streaming services, gas stations, and fitness clubs. If you're able to maximize these rotating rewards by reaching the full $1,500 in bonus spending per quarter, you'd make $300 back per year.

5. Free cell phone insurance and other protections

Chase credit cards usually have good purchase and travel protections, and this one is no exception.

One highlight is Chase Freedom Flex℠'s complimentary cell phone insurance, which you get when you use the card to pay your monthly cell phone bill. The insurance plan covers up to $800 per claim and $1,000 per year with a $50 deductible. You can make up to two claims per 12-month period.

In addition, this card gets you auto rental insurance, purchase protection for damage or theft, extended warranty coverage, and trip cancellation/interruption insurance.

6. Bonus cash back for Ultimate Rewards travel, dining, and drugstores

We've gone over a couple of the bonus categories on the Chase Freedom Flex℠ already, but those were just the tip of the iceberg. It also earns:

  • 5% when you purchase travel using Chase Ultimate Rewards
  • 3% when you dine at restaurants, including when you get takeout or order through eligible delivery services
  • 3% when you shop at drugstores

The standard rate of 1% cash back applies to all other purchases.

7. Combine with Chase travel cards to boost your rewards

If you've got a Chase travel card, adding the Chase Freedom Flex℠ is an excellent way to earn more Ultimate Rewards points. Even though the Chase Freedom FlexSM is a cash back card, you can also transfer its rewards to a Chase travel card and get 100 Ultimate Rewards points for every $1 you transfer.

Let's say you're buying groceries. You'd earn 1 point per $1 with the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®. In contrast, you'd effectively earn 5 points per $1 with the Chase Freedom Flex℠ during that first year.

To make this work, you'd use the Chase Freedom Flex℠ whenever it would earn you more back. Then, you'd transfer those rewards to take advantage of the travel redemption options available through Chase travel cards.

A multifaceted rewards card

What makes the Chase Freedom Flex℠ special is that it's several types of credit cards rolled into one. It has purchase rewards, a zero-interest offer, a sign-up bonus, and purchase protections. That means it can fill all kinds of different roles, whether you want a one-card wallet or plan to combine it with other credit cards.

Our credit card expert uses this card, and it could earn you $1,148 (seriously)

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.

The Motley Fool owns and recommends MasterCard and Visa, and recommends American Express. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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