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The Chase Freedom Flex℠ is one of the most powerful tools in the wallet of cash-back seekers and travel enthusiasts alike. There are two reasons for this:
- It earns 5% cash back in useful rotating spending categories (on up to $1,500 in combined spending each quarter, then 1%). Activation is required.
- You can turn that cash back into valuable Chase Ultimate Rewards points (I’ll explain in a minute).
The current bonus categories for the Chase Freedom Flex℠ and Chase Freedom®
(no longer available to new applicants) are Walmart and PayPal. Those are wildly practical for the majority of cardholders — particularly during the holiday season.
Read more: Chase Freedom Flex credit card review
With the Chase Freedom Flex℠, if you’re strategic, you can earn up to 9% back on your purchases this quarter. But you must activate the bonus categories by December 14, 2021, or you’ll miss out.
Here’s what you need to know.
Chase Freedom rotating category bonuses
Regular APR
14.99% – 24.74% Variable
Credit Score
Good to Excellent
Featured Reward
$200 after spending $500 on purchases in the first three months from account opening
Intro APR
0% intro APR on purchases and balance transfers for the first 15 months
Pros
- No annual fee
- Generous bonus cash-back categories
- Great welcome bonus
Cons
- Booking through Ultimate Rewards portal can restrict outside earning potential
- Varying percentages and rotating calendar categories require extra attention
- 3% foreign transaction fees
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
- 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
- 3% cash back on dining at restaurants, including takeout and eligible delivery services
- 3% cash back on drugstore purchases
- 5% cash back on travel purchased through Chase Ultimate Rewards®, and 1% on all other purchases.
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 14.99% – 24.74%.
- No annual fee.
While Chase markets the Chase Freedom Flex℠ as a cash-back card, it actually earns Chase Ultimate Rewards points which you can redeem for cash at a rate of 1 cent each. When you earn 5% back, you’re actually earning 5 Chase points per dollar.
The real value of these points can only be unlocked if you have one of the following cards:
These allow you to convert your rewards into airline miles and hotel points with Chase transfer partners, and also offer better redemption value when you book travel through the Chase Ultimate Rewards portal or through Pay Yourself Back.
Read more: How to turn cash back into Chase Ultimate Rewards points from Freedom cards
Activate your bonus categories soon
Currently, you’ll earn 5% cash back (5x points) for Walmart and PayPal purchases between October 1 and December 31, 2021. You must activate this bonus by December 14, 2021.
Read more: The Chase Freedom Flex and Chase Freedom 5% bonus categories for Q4 2021 are Walmart and PayPal
Even if you haven’t yet activated this bonus, you will retroactively earn 5% back for all previous qualifying purchases (up to $1,500 in spending) during the quarter.
Stack offers and earn up to 9% back with the Chase Freedom Flex
Through December 31, 2021, Chase Freedom Flex℠ cardholders will earn an additional 4% bonus cash back (4x bonus points) on up to $1,500 in spending in their highest eligible spending category of the quarter. Qualifying categories are:
- Dining
- Drugstores
- Fitness clubs
- Gas stations
- Grocery stores (excluding Target and Walmart)
- Home improvement stores
- Live entertainment
- Select streaming services
- Travel
You do not have to activate this bonus. Chase will calculate which category you’ve used the most.
If you can manage to spend $1,500 in one of these categories via PayPal, you’ll earn up to 9% back (9x points). Insider estimates Chase points value to be 1.8 cents each toward travel — so you could effectively earn 16.2% back on your purchases.
You may be surprised at how many things you can purchase with PayPal. Many merchants offer this payment method at checkout, but you’ll also find it in many mobile wallets like Samsung Pay and Google Pay — meaning you can use PayPal in-store, as well.
Read more: How to set up a PayPal account and link a bank account or credit card
Bottom line
This quarter has the potential to be the most profitable we’ve ever seen for Chase Freedom Flex℠ cardholders in particular. Here’s what you need to do to earn up to 9% back on purchases:
- Activate your rotating 5% bonus categories by December 14, 2021
- Spend up to $1,500 in a qualifying category (listed above) via PayPal by December 31, 2021
You’ll earn a maximum of $135 (or 13,500 Chase points) for your spending — not bad for a no-annual-fee credit card!
60,000 points
Good to Excellent
Featured Reward
3 free nights (each valued up to 50,000 points) after qualifying purchases and 10x total points on eligible purchases in select categories
Credit Needed
Good to Excellent
Featured Reward
$200 after spending $500 on purchases in the first three months from account opening
Credit Needed
Good to Excellent
