Chase’s Freedom Flex review: Taking a great cash-back card and making it even better


 Summary List PlacementChase Freedom FlexReview: Is the Chase Freedom Flex the best card for you?

If you want to earn bonus cash back without paying an annual fee or if you want to boost your Chase Ultimate Rewards earnings, the new Chase Freedom Flex could be a great addition to your wallet. The Freedom Flex pays a generous 5% cash back on airline tickets, hotel rooms, car rentals, activities, and cruises when you book them through the Chase Ultimate Rewards portal.

But Chase knows you’re probably staying at home right now, and the Freedom Flex is also designed to reward cardholders who aren’t going anywhere. You’re definitely still buying groceries, and the card delivers a big first-year bonus — 5% cash back on up to $12,000 in purchases at grocery stores except Target or Walmart — on top of a welcome bonus of $200 after spending $500 within the first three months.

What are the benefits that will make a difference beyond the first year? The card will give you 3% cash back for drugstore and dining out purchases (or dining in with takeout and delivery services). You’ll want to pay attention to your calendar, too. The Freedom Flex is part of Chase’s quarterly bonus program, which pays 5% on up to $1,500 of purchases in certain categories.

In fact, the Chase Freedom Flex is effectively replacing the Chase Freedom in Chase’s lineup of cards available to new applicants. The Freedom card also earns 5% back on up to $1,500 spent in combined purchases on rotating bonus categories, but that card only offers 1% cash back on everything else. If you have the Freedom card, you’ll be able to request a transfer to the Freedom Flex, or you can choose to keep your card as is.

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And if you have a Chase credit card that earns Ultimate Rewards points, you can pair your accounts to make all that cash back a bit more valuable by converting it to UR points and using them to book travel. These are all attractive perks for a no-annual-fee cash-back card, making the Chase Freedom Flex one of the most compelling offers to arrive in an otherwise lackluster 2020.

Hotel loyalty alert: If you’re considering the Chase Freedom Flex, there’s one potential drawback you should consider. Taking advantage of the 5% cash back offer on travel requires booking through the Ultimate Rewards portal, which can lead to sacrificing reward opportunities elsewhere. For example, if you’re a regular guest of a major chain like Marriott, Hilton, or Hyatt, you will only receive credit for the hotelier’s loyalty program if you book directly.

So, let’s say you book a hotel room at a Marriott property that costs $300 via the Ultimate Rewards portal. You’ll get $15 in cash back from Chase, but you won’t receive credit for the night or any additional points from Marriott. If you regularly book your hotel or vacation rental through a site like …read more

Source:: Business Insider


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