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Chase Freedom Flex℠ Card: Earn $200 Bonus after Spending $500 in First 3-Months

+89 Deal Score
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Chase is offering a $200 Bonus after you spend $500 on purchases in the first 3 months of account opening for the Chase Freedom Flex℠. Annual fee is $0.

Card Details:
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
  • 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
  • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.74% - 24.49%.
  • No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Flex℠ card
  • Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.


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Created 01-18-2021 at 06:13 PM by Jess96 | Staff
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This comment has been rated as unhelpful by Slickdeals users
Joined Dec 2019
L2: Beginner
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#91
Quote from EagerActivity1630 :
Don't forget the $100 referral
What is that?
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Joined Sep 2018
L5: Journeyman
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#92
Quote from FabulousGalley3036 :
What is that?
You can be referred by a friend or relative and they get $100
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Joined Nov 2009
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#93
Quote from mydecember1985 :
I keep mine for 1-3 years and cancel them. The important part is DON'T CANCEL YOUR OLDEST card. Your credit score is affected by your average age of all open accounts. You want the average to be 6-7+ years. I have one card that's 15 years that keeps that average up there. I only see my score dip 10 points at most when I cancel a card. I honestly attribute that dip more to higher card utilization. I spend about $1,500/mo spread across my 3 rewards cards. If I cancel one of those, my overall utilization jumps a decent % and drops my score.
Ok, so canceling a card drops your score and raises your utilization. With no annual fee, why in the world would you cancel it? The amount of cards and total credit available will also raise your score.
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Joined Feb 2006
~ Always Spinning ~
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#94
There are several reasons why people like me would cancel cards that are not used.

1. It is easier to manage. For instance, I still have to log in the credit card accounts every month even though I don't use them at all. It is my responsibility to monitor them for any possible frauds. Having fewer cards will be easier to handle.

2. Most banks set a ceiling to grant a person credit in terms of credit line or number of cards. If I have too much credit from a bank, I will not be approved for next new card from them.

Of course, I only closed the newer cards, 1 - 2 years after the account opening.

Quote from AreWeThereYet :
Ok, so canceling a card drops your score and raises your utilization. With no annual fee, why in the world would you cancel it? The amount of cards and total credit available will also raise your score.
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Joined Oct 2008
Why are you looking here?
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#95
Quote from AreWeThereYet :
Ok, so canceling a card drops your score and raises your utilization. With no annual fee, why in the world would you cancel it? The amount of cards and total credit available will also raise your score.
One reason.

"Debt-to-income ratio"

If I have 4-5 credit cards with $10k limits each and only make $50k/yr, lenders may not approve you because you could easily go upside-down in debt. Especially a home loan. I've had probably 12+ cards, so my debt-to-income would be astronomical and nobody would approve me.
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Joined Nov 2009
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#96
Quote from mydecember1985 :
One reason.

"Debt-to-income ratio"

If I have 4-5 credit cards with $10k limits each and only make $50k/yr, lenders may not approve you because you could easily go upside-down in debt. Especially a home loan. I've had probably 12+ cards, so my debt-to-income would be astronomical and nobody would approve me.
How would having more cards and more credit available raise your score but also make you a higher risk to a lender? Wouldn't a credit score matrix take all that into account and score you accordingly?

I'm not sure a D/I ratio takes into account the credit available. I believe it's what is actually owed (debt) and not credit limit.
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Last edited by AreWeThereYet May 15, 2021 at 03:05 AM.
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Joined Oct 2008
Why are you looking here?
943 Posts
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#97
Quote from AreWeThereYet :
How would having more cards and more credit available raise your score but also make you a higher risk to a lender? Wouldn't a credit score matrix take all that into account and score you accordingly?

I'm not sure a D/I ratio takes into account the credit available. I believe it's what is actually owed (debt) and not credit limit.
Debt-to-income is often calculated with monthly housing (rent/mortgage) expenses included. National average is probably near $1,000/mo, so that combined with the $1,500/mo I spend through our cards puts my DTI ratio around 60%.

Ideally, lenders target 35 to 40%. This is my situation because I have government job that doesn't pay the national average. Yay me!

But, if I have newer, more recent cards in my credit score, that drops the average life of my credit lines. I think I spoke about this early. If I have 1 card that is 15 years old, 2 that are 4 yrs, and 1 that is brand new, my average credit age is less than 6 years. That hurts your score. If I cancel the new card at 1 year, my other cards are now 1 @ 16 and 2 @ 5yrs. That average is 8.66 years. That could easily boost my score by around 10 points where I'm at now. I'm not sure what effect it would have on someone down in the 6 and 700s. I assume the effect would be amplified and might make a difference of 20-40 points.
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Joined Nov 2017
L4: Apprentice
321 Posts
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#98
Quote from Eragorn :
Huh? I signed up for this card myself when it launched last year and it's been nice receiving cashback on my everyday purchases. Why would you say it's not a deal?
Regular on everything else is it 1.5% or 1%?
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Joined Mar 2009
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#99
Go into your local branch and apply. It's the same offer plus 5% cash back on grocery store purchases (excluding Walmart and Target).
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Joined Aug 2008
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#100
If I applied for both Freedom Unlimited and Freedom Flex cards at the same time (at a local branch) would Chase only make one 'hard pull' even tho applying for 2 different cards?
Or would they do 2 hard pulls?

I've only had 2 card apps done in the last 24 (1 was last week), so I'd have to wait 30 days to avoid breaking the 2/30 rule, I'm sure.
But I'm still within the 5/24 rule.
Oldest card is 6 yrs, so avg time/history will take a big hit, but hard to pass up possibly $400 total sign up bonus.
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Joined Mar 2016
L3: Novice
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#101
If I got another chase card with a promo, will I still qualify for this promo?
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Joined Feb 2011
L7: Teacher
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#102
Quote from Accster :
If I applied for both Freedom Unlimited and Freedom Flex cards at the same time (at a local branch) would Chase only make one 'hard pull' even tho applying for 2 different cards?
Or would they do 2 hard pulls?
Trying to apply for 2 Chase cards at the same time/same day is a very bad idea.
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Joined Aug 2014
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#103
Recently got this card as it offers free mobile phone protection plan if you pay your monthly phone bill. But I am wondering if it would cover more than one phone since I am paying phone bill for my entire family.
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Joined Aug 2008
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#104
Quote from bru_that :
Trying to apply for 2 Chase cards at the same time/same day is a very bad idea.
You just confirmed my gut feeling. Thanks & repped.
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Joined Dec 2014
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#105
What are the categories like? I have the basic Freedom card from years back; is there any overlap on the 5% categories?
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