Chase Freedom Flex Review (2025): Benefits, Rewards & Value
A no-annual-fee card offering both rotating 5% categories and permanent bonus categories.
Chase Freedom Flex Guide
A no-annual-fee card offering both rotating 5% categories and permanent bonus categories.
ANNUAL FEE
$0
WELCOME BONUS
$200 bonus after spending $500 in first 3 months
POINTS VALUE
1¢ per point
TRANSFER PARTNERS
0
In This Guide:
Transfer Partners
| Transfer Partner | Transfer Ratio | Transfer Time | Transfer Bonuses |
|---|
Annual Credits & Benefits
Is the Chase Freedom Flex Worth It?
Ideal For:
- Rotating Categories
- Dining
- Drugstore Purchases
Not Ideal For:
- Frequent international travelers (due to foreign transaction fees on most cash back cards)
- Those seeking premium travel benefits like lounge access
- People who prefer transferable points for flexible redemptions
Value Calculation Example
With no annual fee, this card provides pure positive value through:
- Welcome bonus worth approximately $200
- Ongoing rewards with 5% cash back on rotating quarterly categories (up to $1,500) and travel booked through Chase, 3% on dining and drugstore purchases, 1% on all other purchases
- 5% cash back on rotating quarterly categories
- 3% back on dining and drugstore purchases
With no annual fee to offset, all these benefits provide positive value from day one.
How to Earn Points
5% Rotating Categories (up to $1,500)
Earn 5% cash back on up to $1,500 in combined purchases in bonus categories that rotate quarterly (activation required). Typical categories include grocery stores, gas stations, Amazon, PayPal, and wholesale clubs.
5% on Chase Travel
Earn 5% cash back on travel purchased through the Chase Travel portal, including flights, hotels, and rental cars.
3% on Dining
Earn 3% cash back at restaurants, including takeout and eligible delivery services.
3% at Drugstores
Earn 3% cash back at drugstores on prescriptions, over-the-counter medications, and everyday essentials.
5% on Lyft Rides
Earn 5% cash back on Lyft rides through March 2025.
Sweet Spot Redemptions
| Route/Redemption | Points Required | Transfer Partner | Notes |
|---|---|---|---|
| Pair with Chase Sapphire Preferred/Reserve | Transfer to premium Chase card | Chase Ultimate Rewards | When paired with a Sapphire card, your cash back becomes Ultimate Rewards points that can be transferred to travel partners. |
| Statement Credits | Direct redemption | Cash back | Redeem cash back as statement credits at 1 cent per point with no minimum redemption amount. |
| Direct Deposit | Direct redemption | Bank account | Cash out rewards via direct deposit to a linked bank account with no minimum redemption amount. |
| Gift Cards | Direct redemption | Chase Ultimate Rewards | Redeem for gift cards at 1 cent per point, occasionally with special promotions offering discounted redemption rates. |
Advanced Tips & Tricks
Pro Insider Tips
Create a Chase Trifecta
Pair with a Chase Sapphire Preferred/Reserve and Freedom Unlimited to maximize rewards in all spending categories and unlock transfer partners.
Activate Categories Early
Set reminders to activate new quarterly bonus categories as soon as they're announced to avoid missing out on bonus rewards.
Maximize Category Caps
Track your spending in the rotating 5% categories to ensure you reach the $1,500 quarterly cap without exceeding it.
Stack with Chase Offers
Check your Chase Offers regularly and activate relevant offers to stack additional cash back on top of your regular rewards.
Frequently Asked Questions
How do the 5% rotating categories work?
Each quarter, Chase announces new 5% cash back categories. You need to activate these categories each quarter through your Chase account (online, app, email, or phone). Once activated, you'll earn 5% cash back on up to $1,500 in combined purchases in those categories during the quarter. After reaching the $1,500 cap or outside those categories, you'll earn 1% cash back.
What's the difference between the Freedom Flex and Freedom Unlimited?
The main difference is that the Freedom Flex offers 5% rotating quarterly categories and 1% on non-bonus purchases, while the Freedom Unlimited offers 1.5% on all non-bonus purchases but no rotating categories. Both cards offer 3% on dining and drugstores, and 5% on Chase Travel. The Flex is a Mastercard, while the Unlimited is a Visa.
When are the 5% categories announced?
Chase typically announces the Freedom Flex 5% categories about two weeks before the start of each quarter. The quarters run January-March, April-June, July-September, and October-December. You can usually activate the categories from the 15th of the month preceding the quarter until the 14th of the last month of the quarter.
Can I convert my Freedom Flex points to transferable Ultimate Rewards points?
Yes, if you also have a premium Chase card like the Sapphire Preferred, Sapphire Reserve, or Ink Business Preferred, you can move your Freedom Flex cash back to that card, converting it to transferable Ultimate Rewards points. This can significantly increase the value of your rewards, potentially from 1 cent per point to 1.5-2+ cents per point.
Ready to Apply?
The Chase Freedom Flex offers outstanding cash back rewards that make it a valuable addition to your wallet. A no-annual-fee card offering both rotating 5% categories and permanent bonus categories.