Chase Freedom Flex Complete Review 2024
Everyone loves shopping with their credit cards. There is no need to find those twisted dollar notes or piles of pennies in your wallet. Credit cards have made our lives easier. However, finding the best credit card that fits your needs can be challenging. If you select the right card, you get flight points, grocery discounts, and many other perks. But what if I tell you there is a cashback credit card that provides you even more perks than any other credit card? No annual fee, low APR, 5% cashback, and even more.BYes, you read that right. Chase Freedom Flex credit card has even more perks for its customers. We have discussed Chase Freedom Flex Review. What are its perks and drawbacks? Why should you use this card, and what are the reasons to avoid it? We have covered everything.
Everything You Need To Know About Chase Freedom Flex
Following are some of the important points you need to consider before buying a Freedom Flex Credit card:
Chase Freedom Flex Overview
Rewards
- You earn a cash reward of $200 right after you spend $500 in your first three months.
- 0% intro APR on purchases and balance transfers for 15 months.
- You get 5 percent of cash back on your purchases in the activated bonus category (each quarter)
- 3 % cash back on dining
- 1 % cash back on other purchases
Other Benefits
- Fraud Monitor
- Purchase Protection
- Extended Warranty Protection
- Zero Liability Protection
- Mobile Phone Protection
- Free Credit score
- Trip Cancellation Insurance
Rates and Fees
If we talk about the fees:
- There is no annual fee.
- The cash advance fee is $10 or 5 percent of each advance you make.
- You get to pay $5 or 3 percent of the total amount of the transfer as a transfer fee.
- Late Payment fees can go upto $40.
Pros and Cons Of Chase Freedom Flex
Pros:
- You can easily claim your $200 welcome bonus, which makes it a great option, especially for beginners.
- There is no annual fee for this card. Thats why it is a low-risk option for cardholders.
- Most credit cards have low interest rates but high additional charges(i.e., APR), which cost you more than your budget and expectations. Freedom Flex offers you an Annual Percentage Rate compared to other credit cards in the market.
- You get partner benefits and the best travel protection.
Cons:
- You have to enroll yourself in rotating categories in order to get maximum rewards.
- There are limits set to cashback in the rotating bonus category.
- You have to pair the card with a higher Chase Chase tier if you have to transfer your rewards to any other Chase travel partner or if you want a better redemption for travel purchases.
Why Should You Purchase This Card
Following are some of the Chase Freedom Flex benefits:
Travel Perks
One of the best perks of having Chase Freedom Flex is you get dozens of benefits, including travel. Whenever you book your trip through its Chase portal, you can earn 5% on your hotels, car rentals, and flight tickets. In addition, if you cancel your trip or there is any cancellation, you wont get charged for these interruptions.
Flexible Reward Redemption
This cashback credit card provides you with various redemption options, including gift cards, merchandise, cashback, and shopping points on Paypal and Amazon. If you also have a premium card at Chase, you can pair both your cards and transfer your reward points to your premium credit card to get a better reward for your points.
Low Intro APR
Freedom Flex credit card offers you a 0 percent introductory APR in the first 15 months. After 15 months, you have to pay around 20 to 29% of APR. This APR might not be a good option for beginners. It can help you if you want to make a big purchase and gradually pay it or if you want to pay off your high-interest debt.
Why Should You Avoid This Card
Rotating Categories Might Not Be A Good Option
Yes, you would earn 5% back on your purchase, but remember, as its name suggests, its categories change every quarter. For example, if you work in a 9 to 5 job, your major expenses will be groceries and car fuel. In the first quarter, you would receive 5 percent of your total purchase, but when the next quarter arrives, those categories(where you will be rewarded for purchasing) will be changed. Now, you wont earn rewards by purchasing on grocery or any previous category. Wait, theres even more. If you forgot to enroll in quarterly rewards, then you wouldnt get any rewards or points. If you want to overcome this problem:
- Make a monthly budget for your expenses.
- Note down the the major expenses category.
- Find such a card in which your most spending category is fixed every quarter, and you will earn a fixed amount of reward or cashback.
In this way, you will always earn from your spending.
Tricky Spending Limits
If you think you have solved the problem of rotating the reward category, then be aware of its spending limits. There is a condition; if you have to earn 5 percent back, you have to spend atleast $1500. After youve spent $1500, you will only get to earn 1% of your total spending. These are some of the reward programs terms you should remember. Due to this reason, you may consider other rewards or cashback cards. Where the spending criteria are more flexible, and the categories will be the same for the whole year.
Final Takeaway: Is It Worth To Buy Freedom Flex?
In my opinion, if you are a shopping lover, spend on different categories, and want different travel perks, low APR, and many other perks. The Chase Freedom Flex could be your ideal credit card option. However, if you have a planned budget for your expenses and are not a shopaholic, you should consider any other credit card. To conclude, this was the Chase Freedom Flex Review 2024. If you still need to decide which credit card you should choose. Then, consider talking to someone who is already using credit cards, ask them about their pros and cons, do your research, and make a smart move when selecting a credit card.
