Chase Freedom Flex℠

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Chase Freedom Flex℠ is a no-annual fee credit card from Chase, which allows you to accrue highly valuable Chase's Ultimate Rewards® Points for all your eligible spendings (again, without any annual fee).

In this posting, I will describe major features of this consumer credit card, and then will explain one often misunderstood feature of this credit card.

1. Major Features

Chase Freedom Flex℠ Credit Card has the following major features.

1) Welcome Bonus 

After spending $500 on purchases in the first 3 months from account opening, you will earn a $200 bonus.

(But as I will explain in a moment, this $200 bonus cash back will be in the form of 20,000 Ultimate Rewards Points, which then can be redeemed for $200 cash.)

2) 5X earning in bonus categories each quarter 

Each quarter, Chase announces bonus categories (such as grocery stores, gas stations, or restaurants). Once you active this bonus offer and use your card for purchases on these select categories, you will earn total 5 points for each eligible dollar spent (up to combined limit of $1,500 per quarter).

3) 5X earning on travel purchased through Chase Ultimate Rewards®

When you purchase travel products through Chase Ultimate Rewards® travel portal, you will earn 5x points.

4) 3X earning on dining and drugstore purchases  

With Freedom Flex card, you can earn 2 extra points (total 3 points per dollar spent) for your dining expenses, including eligible delivery services, takeout and dining out.

You also earn total 3 points for your eligible drugstore purchases.

5) No annual fee

When it comes to a credit card, you need to think about long-term commitments. In this respect, getting a no-annual fee credit card is a better choice for most consumers, but especially for those who have relatively short credit history.

In this respect, Chase Credit Journey is also useful, for it helps you monitor your credit with free access to your latest score, real-time alerts, and more.

2. Did you know? 

Chase Freedom FlexSM Credit Card is categorized as a cash back consumer card that offers a cash back based upon your everyday spendings.

But did you know that you actually earn Ultimate Rewards points (Chase's proprietary rewards points) rather than cash?

A new cardmember will earn “a $200 bonus” after spending $500 on purchases in the first 3 months after account opening. 

But according to the offer details, “You will receive 20,000 bonus points with this bonus offer, which can be redeemed for $200 cash back.”

In other words, you earn Ultimate Rewards Points, which of course has many more (and often more useful) options than a cash redemption.

For example, if you also hold Chase Sapphire Preferred® credit card, you can combine your Ultimate Rewards points from Chase Freedom Flex card into those of Chase Sapphire Preferred® credit card. And because Sapphire Preferred® credit card has the feature of transferring points to leading frequent travel programs at full 1:1 value, you can transfer Ultimate Rewards points to Hyatt's World of Hyatt Program at 1:1 ratio.

Hyatt points are valuable, and you can redeem 40K Hyatt points for a one-night stay at Park Hyatt New York, which retails in the range between $800 and $1,000.

In short, Chase Freedom FlexSM Credit Card has more potential than a simple cash back credit card.