HomeFinance4 Things to Know About the Chase Freedom Flex

4 Things to Know About the Chase Freedom Flex

Looking for a $0-annual charge bank card with rewarding bonus spending classes? Look no additional than the Chase Freedom Flex℠, a strong Chase journey card for novices that gives up to 5% in bonus reward classes that change each three months.

But earlier than you apply, take into account these rotating classes, how to get the most out of your rewards and the all-important Chase 5/24 rule — which limits the variety of private bank cards you’ll be able to open inside a two-year interval. Here are some things it is best to know earlier than getting the Chase Freedom Flex℠ bank card.

About the Chase Freedom Flex℠

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This card has a tempting bonus supply for brand new cardmembers: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% money again on grocery retailer purchases (not together with Target® or Walmart® purchases) on up to $12,000 spent in the first yr.

Plus, you’ll be able to earn 5% money again on up to $1,500 in bonus classes every quarter that you just activate these classes, 5% on journey bought by means of Chase Ultimate Rewards®, 3% on eating and supply companies, 3% on drugstore purchases, and 1% on every part else.

Combine all that with a $0 annual charge and versatile rewards that don’t expire so long as your account is open. It’s a strong card for newbies, which introduces them to Chase Ultimate Rewards®.

What to know earlier than getting the Chase Freedom Flex℠

Not everybody could make the most of this card’s distinctive advantages. Here are 4 issues it is best to know earlier than you apply.

1. How to activate bonus classes each quarter

Chase Freedom Flex℠ contains a set incomes charge in most spending classes. But there are additionally bonus spending classes that pay up to 5% money again — when you activate them in time. These classes change each quarter.

The trick is remembering to manually activate bonus classes earlier than the activation deadline and understanding what bonus classes are open at any given time. Fortunately, Chase publishes a cash-back calendar for this card so you’ll be able to plan a few of your spendings to earn extra in every quarter.

For instance, the 2021 bonus calendar was:

  • January–March: Wholesale golf equipment; web, cable, and telephone companies; and choose streaming companies.

  • April–June: Gas stations and residential enchancment shops.

  • July–August: Select streaming companies and grocery shops (not together with Walmart and Target).

  • October–December: Purchases made utilizing PayPal at Walmart.

Again, you’ve to manually activate every bonus class earlier than the deadline to earn the 5% money again. There are a number of methods to accomplish that:

  • Get notified by electronic mail and activate with one click on. Ensure the electronic mail tackle related along with your on-line account is up to date.

  • Use the Chase Mobile app.

  • Call the quantity on the again of your card.

  • Visit any Chase financial institution and have a private banker activate for you.

  • If you are a Chase checking buyer, use an ATM and activate it whereas making a money withdrawal.

Some would possibly take into account this an annoying additional step, nevertheless it’s value it to make more money again.

Nerdy tip: If you’ve a number of Chase Freedom playing cards, you will have to activate bonus classes on each individually.

2. How to get the most out of your factors

There’s no minimal when it is time to redeem your cash-back rewards, and you’ll redeem them for a press release credit score or have them deposited into your checking account (factors are value 1 cent apiece).

You may even ebook journey by means of Chase Ultimate Rewards®, an possibility made much more beneficial when you even have a card like the Chase Sapphire Preferred® Card. That’s as a result of you’ll be able to switch the rewards you earned with the Chase Freedom Flex℠ to your Chase Sapphire Preferred® Card account and use them to ebook and pay for journey by means of the Chase Ultimate Rewards® portal the place factors are value 25% extra.

Alternatively, you’ll be able to redeem rewards for reward playing cards or hyperlink your Chase Freedom Flex℠ card to your Amazon account and use rewards to pay for all or a part of your purchases. Keep in thoughts that these are the least beneficial redemption choices, as your factors might be value about 0.8 cents a chunk on Amazon.

3. How to win with the “Chase Trifecta”

If you need to earn the most factors and rewards doable, think about using the Chase Freedom Flex℠ bank card together with the two different playing cards that make up the Chase trifecta.

Start by making use of for 3 complementary playing cards, together with one like the Chase Freedom Flex℠ that gives bonus class spending, a card like the Chase Sapphire Preferred® Card that gives extra incomes potential on non-bonus class spending and a card like the Chase Freedom Unlimited® that gives a flat 1.5x rewards charge for different purchases.

Then spend strategically. Use the Chase Freedom Flex℠ for bonus class purchases, the Chase Sapphire Preferred® Card for purchases reminiscent of journey not booked by means of the Chase journey portal and the Chase Freedom Unlimited® for something you’d solely get 1x rewards for on the different playing cards.

When it’s time to redeem your rewards, switch all of them to the account that gives a redemption bonus. The Chase Sapphire Preferred® Card, for instance, rewards cardmembers with a 25% bonus whenever you redeem factors for journey in the Chase Ultimate Rewards® portal.

You would possibly take into account upgrading your Chase Sapphire Preferred® Card for the Chase Sapphire Reserve®. Though the card comes with a $550 annual charge, it will get you a 50% enhance on journey booked in the portal.

4. The Chase 5/24 rule

Just be certain to have in mind Chase’s 5/24 rule, which is not revealed anyplace on Chase’s web site however stipulates that Chase bank card candidates will need to have fewer than 5 approvals for bank cards inside the final 24 months to be accepted for one more. So in case your aim is to apply for a number of playing cards, area these functions out.

The backside line

If you don’t thoughts a card that requires a bit extra hands-on consideration than a card that gives flat, probably much less profitable rewards, the Chase Freedom Flex℠ could be an excellent card for you. Just be certain to activate your bonus spending classes each quarter and take into account pairing it with one other Chase bank card (or two) for final incomes and redeeming potential.

How to maximize your rewards

You need a journey bank card that prioritizes what’s vital to you. Here are our picks for the finest journey bank cards of 2022, together with these finest for:

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