There’s an awesome cash back card on the scene from Chase.

Chase has added the Freedom Flex cash back card, which offers great new cash back benefits that can then be switched to Chase Ultimate Rewards points to book free travel if you prefer.

Plus, it comes with no annual fee!

This card replaced the Chase Freedom card. But, you CAN apply for the new Freedom Flex card even if you hold the Chase Freedom card, and I would recommend doing that instead of UPGRADING your Chase Freedom card. 

Chase Freedom Unlimited remains, but it has a makeover with some new benefits similar to Freedom Flex, as well.

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Quick Overview: Chase Freedom Flex

Chase Freedom Flex Cash back card

The Offer: $200 cash back after spending $500 in the first 3 months

Annual Fee: None

Offer End Date: None

The Chase Freedom Flex offers the following cash back opportunities:

  • 5% cash back on rotating quarterly categories up to $1,500 per quarter
  • 5% cash back on gas station purchases up to $6,000 in the first year
  • 5% cash back on travel purchased through Chase Ultimate Rewards
  • 5% cash back on Lyft rides through March 2022
  • 3% cash back on dining, including take-out and delivery
  • 3% cash back on drugstore purchases (this is a new category I haven’t seen on any other cards!)
  • 1% unlimited cash back on everything else


Other benefits include:

  • $10 Lyft credit for every 5 rides in a calendar month
  • Free DoorDash DashPass for the first three months, then a 50% discounted subscription at the current rate for the following nine months
  • Free membership with ShopRunner, offering two-day shipping and free return shipping at many online retailers
  • Double VIP+ points for movie tickets that you buy through the Fandango app or on
  • 5% cash rewards on Boxed purchases to use on future purchases with the company
  • Cell phone insurance

You can earn the bonus on this card only once every 24 months, and points don’t expire as long as the card remains open.

It DOES charge foreign transaction fees.


How to Turn Cash Back Into Travel Points

packed suitcase

Chase Freedom Flex actually earns “points” where 100 points equals $1. Instead of opting to get the cash back, if you hold either Chase Sapphire Preferred (my FAVORITE travel credit card; read my full review of this card) or Chase Sapphire Reserve (read my full review of this card), you can transfer these points to your Sapphire card in Chase Ultimate Rewards and then use the points to book free travel.

These points can then be converted to Southwest points (instantly!), British Airways or Aer Lingus Avios, United miles, IHG or Hyatt points, etc.

Your $200 cash back could actually be converted to 20,000 Chase Ultimate Rewards points!

And if you hold the Southwest Companion Pass, as well, each of those points is effectively worth DOUBLE, because you can bring someone free with you for every point you use to book free flights on Southwest.

Will you take advantage of the Chase Freedom Flex to get either cash back or MORE points for free travel?


  • Lyn Mettler

    Lyn Mettler is a longtime travel writer for US News & World Report, USA Today 10Best and The TODAY Show who created Families Fly Free, a program which teaches families her simple system to use travel rewards to fly for free.

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