Cash Back card review
Chase Freedom Flex®
Rotating 5% categories, which means quarterly activation and a cap. Rewarding if you remember; worthless if you forget.
Open to new applicantsPartly verified
At a glance
Annual fee$0
Welcome offer$200 bonus
IssuerChase
Rewards programChase Ultimate Rewards
Foreign transaction feeApplies
Welcome offer
$200 bonus.
Chase's listing page showed $200 with $250 struck through on 2 November 2026, and did not display the spend requirement.
Offers vary. Welcome offers on this card can differ by applicant, by referral and by the link you apply through. The figure above is what our source showed on the date given, not a guarantee of what you will be offered.
Earning rates
| Rate | On | Cap or condition |
|---|---|---|
| 5% | Rotating quarterly bonus categories | Historically $1,500 in combined spending per quarter, with activation required |
| 1% | Everything else | No cap stated |
Benefits and credits
- No annual fee
- Points pool with Sapphire cards Same as the Freedom Unlimited.
Restrictions worth knowing
- Quarterly activation is required. Miss it and you earn the base rate.
- The 5% rate has historically been capped at $1,500 in spending per quarter.
- Chase 5/24 applies, and the card charges foreign transaction fees.
How to use it well
- Set a calendar reminder for the first week of each quarter to activate. That single habit is the difference between 5% and 1%.
- At the historical cap, the 5% categories are worth up to $75 a quarter, or $300 a year, if the categories match your spending.
- Hold it alongside a Sapphire card to make the rewards transferable.
Sources and freshness
What we checked: Fee and bonus headline from Chase's own listing page, 2 November 2026. The quarterly cap is a longstanding published figure flagged as historical, not re-confirmed here.
- Chase: credit cards — read November 2, 2026
Last updated: November 2, 2026.
Other Chase cards
- Chase Freedom Unlimited® — $0, open to new applicants
- Chase Sapphire Reserve® — $795, open to new applicants
- Chase Sapphire Preferred® Card — $95, open to new applicants