Improved offer. The is the new 5% cash back rotating category card for Chase, including the notable addition of 3% cash back on dining out and drugstore purchases. All of the popular features from the old Freedom remain as well: Up to 5% cash back on select categories throughout the year, no annual fee, and the ability to earn Ultimate Rewards points (useful in combination with Chase Sapphire cards). Highlights:
- $200 cash bonus (20,000 Ultimate Rewards points) after $500 in purchases in your first 3 months.
- Intro offer: 5X points (5% cash back) on grocery store purchases (not including Target(R) or Walmart(R) purchases) on up to $12,000 spent in the first year.
- 0% Intro APR for 15 months from account opening on purchases.
Here are the ongoing features of the Freedom Flex:
- 5X points (5% cash back) on rotating quarterly categories.
- 5X points (5% cash back) on travel purchased through Chase Ultimate Rewards(R).
- 3X points on dining out, take-out, and eligible delivery services.
- 3X points on drugstore purchases.
- 1X points on all other purchases.
- Cell phone insurance is one of the noteworthy World Elite Mastercard benefits. “Up to $800 per claim and $1,000 per year in cell phone protection against theft or damage for phones listed on cardmembers’ monthly bill.”
- 5% total cash back on all Lyft rides through March 2022.
- Complimentary DoorDash DashPass for the first three months*, followed by a 50% discount price at the current rate for the next nine months.
- No annual fee.
From July 1st through September 30th, 2021 you can earn 5% cash back on up to $1,500 spent in the following categories:
- Grocery Stores (excludes Target and Walmart)
- Select Streaming Services (includes Disney+, Hulu, ESPN+, Netflix, Sling, Vudu, Fubo TV, Apple Music, SiriusXM, Pandora, Spotify YouTube TV)
Activate each quarter in your online account or at ChaseBonus.com. As long as you activate by the end of each quarterly window, the rewards apply retroactively.
Remember that these cards earn Ultimate Rewards (UR) points, which can then be redeemed for cash at 1 UR point = $0.01. Therefore, you can either view a category as 3X points per dollar points, or 3% cash back. When UR points are transferred to a or , they can become much more valuable when converted to frequent flier miles or hotel points. For example, if you have the Chase Sapphire Reserve, 5x points = 5 United miles per dollar spent, 5 Hyatt points per dollar spent, or 7.5% value back towards travel redeemed at the Chase Ultimate Rewards travel portal.
This is a new card (different than the regular Chase Freedom Visa), so everyone should be eligible for the bonus, but Chase does have an unofficial rule that they will automatically deny approval on new credit cards if you have 5 or more new credit cards from any issuer on your credit report within the past 2 years (aka the 5/24 rule). This rule is designed to discourage folks that apply for high numbers of sign-up bonuses. This rule applies on a per-person basis, so in our household one applies to Chase while the other applies at other card issuers.
If you have an existing Chase card like the original Freedom card, you may be able to convert to this card by calling them directly. You won’t get the sign-up offer, but you will get the new ongoing features.
Bottom line. The is a unique rewards card that lets you earn 5% cash back on select categories each quarter, in addition to a constant 3% cash back on dining out and drugstore purchases. If you have a Chase Sapphire card, the “flexibility” is even greater.
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