New: Chase Freedom Flex

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This is a fantastic new card by Chase! The Chase Freedom Flex is a great earner and has no Annual Fee, so it is a long term keeper.

Application Link: Chase Freedom Flex

The Sign Up Bonus:

Sign Up Bonus:Bonus #1Earn $200 for spending $500 in the first 3 months
Bonus #2Earn 5% cash back on grocery store purchases (but not at Target or Walmart) on up to $12,000 net spend in the first year.

First off, it is an easy $200 for $500 spend, or a 40% return on spend. Then, the second bonus, if fully realized, is another $600 ($12,000 * 0.05). From a cash back perspective, that is $800 on a no fee card.

The Return on Spend:

Rewards On Spend5%Rotating Quarterly Bonus Categories (up to $1,500 per quarter)
5%Travel through the Chase Ultimate Rewards portal
5%Lyft Rides (through March 2022)
3%Dining at restaurants, including takeout and delivery services
1%Everywhere else

For a no annual fee card, these are amazing in that they are all on one card. Yes, there are 5% cash back rotating cards out there, but they don’t have the increased Rewards for other spend. It matches the Chase Sapphire Reserve (a $450 card) for 3% back on dining. And it has the unique category of 3% back on Drugstore purchases, and a best in class 5% for Travel (albeit through the Chase Ultimate Rewards Portal).

The Benefits:

Benefits:Intro APR0% APR for 15 months from account opening.
Cell Phone Insurance$800 per claim
$1,000 per year
Max 2 claims/year
$50 deductible
DoorDash and CaviarComplimentary 3 month DashPass ($0 delivery fee on orders over $12). Option to continue for the next 9 months at 50% off.
Rewards ExpirationDo not expire as long as your account is open
Lyft CreditsReceive a $10 Lyft credit once per month for every 5 rides you take in a month.
BoxedEarn 5% Cash Rewards on Boxed Wholesale orders for use on future purchases.
ShopRunnerComplimentary membership for free 2-day shipping at hundreds of retailers
FandangoGet $5 off movie tickets or at-home purchases for every 2 movie tickets purchased.
ProtectionsPurchase Protections
Extended Warranty
Trip Cancellation
Trip Interruption
Auto Rental CDW (Secondary)
Credit JourneyFree Credit Score
Free Identity restoration services

One of the first things I noticed is the cell phone insurance, and Lyft credits. And remember, till at least March 2022, the Chase Freedom Flex also earns 5% cash back on Lyft rides!

The Fees and Card type information:

FeesAnnual Fee$0
Authorized User Fee$0
Foreign Exchange Fee3%
Balance Transfers$5 or 5% of each transfer, whichever is greater
Card TypeIssuerChase
Payment NetworkMasterCard

Hidden Benefit of the no-fee Chase Freedom and Ink cards:

What you might not know is that if you have a Chase Premium card, then you can convert your cash into Chase Ultimate Reward points, at a 1-to-1 ratio. The Chase premium cards are the Chase Sapphire Preferred (CSP), Chase Sapphire Reserve (CSR), or the Chase Ink Preferred (CIP). When the points are redeemed either in the travel portal, or the Pay Yourself Back feature, each point is worth either 1.25 cents (CSP and CIP) or 1.5 cents (CSR). Or, you can then transfer them to one of the many Chase Airline or Hotel Transfer partners for outsized value.

Application Link: Chase Freedom Flex

Is this Deal worth the Hack?

This is a great deal, not only for the two Sign Up Bonuses, but the ongoing spend, especially for the rotating categories, dining, and drugstores. Personally, this card is better than the Increased Bonus on the Chase Freedom Unlimited for my setup. What about you … Are you going to / Did you apply?

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