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Why I got the Chase Freedom Flex and how I'm getting max cash back this quarter
23.04.2024 - 06:41 / thepointsguy.com
As a TPG staffer, I have a pretty solid credit card portfolio. I love using The Platinum Card® from American Express to earn bonus points on flights, Blue Cash Preferred® Card from American Express for bonus cash-back on grocery and transit purchases and American Express® Gold Card to earn bonus points when I dine out.
However, I'm always looking for ways to make my money work harder to accomplish my goals. Recently, I decided to add the Chase Freedom Flex℠ to my arsenal.
Here's why I landed on that card and how I'm already working to get maximal value from its cash back categories.
With an upcoming move this summer, I have a few big purchases on the horizon. I'd looked at buy-now-pay-later options like Affirm but also realized these options wouldn't give me any points or cash back on my purchases. Plus, they aren't always interest-free.
Then, I researched cards with 0% intro APR offers.
One of TPG's 10 commandments of credit is "Thou shalt pay thy balance in full." But, the idea of putting my big furniture purchase on a 0% interest card and leaving my money to grow in a money market was pretty attractive.
I wanted a card that I thought would be a useful and complementary addition to my other cards for some time, not just a short-term account. The Freedom Flex card checked off all the boxes on my wish list:
Each quarter, Chase announces a few categories where Freedom Flex cardholders earn 5% cash back that quarter on up to $1,500 in purchases when they activate. All your purchases on the Freedom Flex earn 1%, so cardholders earn a bonus 4% to get to the quarterly 5% earnings.
For example, Amazon and Whole Foods purchases typically earn 1% cash-back, but since they're part of the Q2 bonus categories, cardholders can earn an additional 4% on these purchases for a total of 5% back.
However, I didn't realize at first that Chase is doing something new this quarter. It has added two categories to the quarterly bonus list that earn more than 1% year-round — hotels through Chase Travel (typically earns 5%) and restaurants (typically earns 3%). To keep the quarterly bonus-earning rate even, Chase simply added 4% on top of these year-round bonus earnings rates.
This means that after activating, I'm earning an impressive 9% on hotels through Chase Travel and 7% on dining my Freedom. Once I realized this, I started to put together my plan to maximize these bonus categories. (Thanks to my TPG colleagues for helping me wrap my brain around them.)
Related: Freedom Flex bonus categories
Enjoying good food is a passion of mine, whether it be learning how to make a new dish or exploring a hot restaurant.
While I have other cards with dining rewards, this quarter's 7% back on dining means I'll pull out the Freedom
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