There's a new, no-annual-fee credit card on the scene: The Chase Freedom Flex. And it might just be the best no annual fee card yet.
Just like its predecessor (the Chase Freedom Card), the Freedom Flex has rotating quarterly bonuses, where you can earn 5% on your spending on changing categories like gas stations on up to $1,500 in combined spending each quarter, pharmacies, Amazon, Whole Foods, etc. But it also has other bonus categories that make it even more rewarding than the Freedom card, which is shutting down to new applicants.
It's a powerful cashback card on its own, but the true value is pairing a Freedom Flex Card with a Chase Sapphire Preferred Card or the Chase Sapphire Reserve. You can use this card on your everyday spending to pile up even more Chase Ultimate Rewards points even faster.
This brand new card is now open for applications. Keep reading to see why you should consider adding it to your wallet.
Click Here to learn more about the Chase Freedom Flex Card. (for full disclosure, this is our personal referral link).
Benefits of the Chase Freedom Flex
It's the new kid on the block, but it'll seem quite familiar.
In many ways, the new Chase Freedom Flex is replacing the Chase Freedom Card. And while this is a cashback card, you can still convert that earning over to Chase Ultimate Rewards points so long as you've got one of the Chase Sapphire cards. Each cent gets you 1 Ultimate Rewards point.
But unlike the Chase Freedom and Freedom Unlimited cards, this new card won't be a Visa – it's a World Elite Mastercard. That may seem like a meaningless change, but it opens up even more benefits like cell phone insurance, earning free Lyft credits, discounts on Postmates deliveries, and more. See all the World Elite Mastercard benefits.
Like its predecessors, the Chase Freedom Flex will have no annual fee. And it's now open for applications!
Here's a look at the full benefits on the new Chase Freedom Flex card:
- Welcome bonus of $200 after spending $500 within three months of opening the card.
- Earn 5% cashback on rotating quarterly categories on up to $1,500 in combined spending across all categories each quarter.
- Earn 5% cashback on travel booked through the Chase Ultimate Rewards portal
- Earn 5% cashback on Lyft rides through March 2025.
- Earn 3% cashback on dining, including takeout and delivery services
- Earn 3% cashback at drugstores
- Earn 1% cashback on all other spending
- Affected By The Chase 5/24 Rule: This card is subjected to Chase’s 5/24 rule, so you won’t get approved for the Chase Freedom Flex if you’ve opened five or more credit cards (from any bank, not just Chase) in the last 24 months.
- No Annual Fee!
Click Here to learn more about the Chase Freedom Flex Card. (for full disclosure, this is our personal referral link).
Rotating Categories
Just like the Chase Freedom Card, you'll earn 5% cashback (or 5x Ultimate Rewards points) in a series of quarterly bonus categories.
Every three months, Chase releases a new set of bonus categories. To give you an idea, here's a glimpse at some past quarterly bonus categories:
- Grocery stores, gym memberships, and streaming services
- Gas stations, internet service, cell phone service, and streaming services
- Chase Pay, PayPal, and department stores
You're capped at earning 5% cashback (or 5x points) on $1,500 of spending in these categories each quarter – $75 in cashback or 7,500 Ultimate Rewards points. Depending on the categories, it can be very easy to max that out.
Through the end of September, the bonus categories are currently Amazon and Whole Foods. But Chase has already tipped its hand on what's coming next.
For the final quarter from Oct. 1 through Dec. 31, you can earn 5% cashback (or 5x points) at Walmart and Paypal. But you have to register!
You can register for these new Chase Freedom bonus categories today. Just head to the Chase bonus activation page. Make sure to register before Dec. 14.
Read our guide to the Chase Freedom Flex bonus categories
What If I've Got the Chase Freedom Card?
Let's be honest: The Freedom Flex makes the old Freedom card irrelevant.
Chase has shut down the Freedom card for new applications. If you've already got the Freedom card and want to switch over to the Freedom Flex, it should be easy. And critically, you won't need a hard credit pull to do so.
Just send a secure message to Chase or call them up to start a product change to the Freedom Flex card.
Unfortunately, you'll be ineligible to earn the sign-up bonus on this new card if you've already got a Freedom card.
Bottom Line
The new Chase Freedom Flex Card is essentially a souped-up version of the popular Chase Freedom Card, and a more-than-worthy replacement. It's about as close to a slam dunk as you'll find with a no annual fee credit card – especially if you've already got a Chase Sapphire card in your wallet.
Click Here to learn more about the Chase Freedom Flex Card.  (for full disclosure, this is our personal referral link).
Looking forward to upgrading my freedom card. Thanks for the heads up!
You would still lose your line of credit with the freedom of you convert it over, right? I’ve had my freedom for 8 years and that’s my longest line of credit so I would hate to lose it as we need to buy a car soon-ish.
If you do a product change to a Freedom Flex, you should retain that line of credit (and your credit history).