Why I all the time advocate the Chase Freedom Flex to freshmen

Opening your first bank card is mostly easy. Your greatest choices are scholar playing cards and secured playing cards. However when it comes time to select your subsequent card, the selection can really feel more difficult. Do you go for a journey or eating card? Or, is a versatile possibility with a number of spending classes the way in which to go?

Every time I am requested about the perfect bank cards for freshmen, the Chase Freedom Flex® all the time involves thoughts earlier than just about another card. It was the second card that I opened, and it nonetheless holds a significant spot in my pockets to this present day.

If you happen to’re in search of the right card so as to add to your fledgling pockets, let me introduce you to all the pieces the Freedom Flex has to supply.

Relying in your monetary scenario, you might not have a excessive sufficient earnings or bills to make incomes a profitable welcome bonus real looking. Welcome bonuses are probably the most vital components to contemplate when opening a brand new bank card; they’re the key to unlocking the wonderful journey alternatives we all the time rave about at TPG.

I discovered myself on this scenario after I utilized for the Freedom Flex. On the time, I did not have sufficient bills to fulfill a excessive spending requirement of $3,000 or extra, which made the Freedom Flex’s welcome bonus very interesting.

New Freedom Flex cardholders can earn $200 money again after spending $500 within the first three months from account opening. That is a simple spending requirement to hit and a priceless welcome bonus to obtain.

This was my first alternative to earn a welcome bonus, so I made certain to find out about errors I wanted to keep away from. The very last thing anybody desires to do is go away worth on the desk due to a easy mistake.

Begin spending towards your welcome bonus as quickly as you’ll be able to. I prefer to plan my card purposes round after I intend to make massive purchases to assist me make large strides towards my purpose as rapidly as doable.

By studying good practices for incomes welcome bonuses now, you will set your self up for fulfillment if you apply for extra premium playing cards with larger welcome presents, such because the Chase Sapphire Most popular® Card and the Chase Sapphire Reserve®.

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The Freedom Flex earns 5% money again with Lyft (by way of March 2025) and Chase Journey℠, 3% money again on eating (together with takeout and supply) and drugstore purchases and 1% money again on all different purchases.

The ultimate incomes class on the Freedom Flex makes it not solely a powerhouse for freshmen however a necessity in any frequent traveler’s pockets. While you activate every calendar quarter, you’ll be able to earn 5% money again on a collection of rotating classes (on as much as $1,500 in spending every quarter).

Throughout the yr, we are inclined to see attractive classes like grocery shops, gasoline stations/electrical automobile charging stations, gyms and Amazon pop up. The Freedom Flex’s quarterly classes cowl a variety of purchases; if a given quarter’s classes do not suit your spending habits, the subsequent quarter’s choices simply would possibly.

I earned over $50 in money again from the card’s This autumn 2024 rotating classes, which included pet outlets, McDonald’s, and PayPal.

With these incomes classes, the Freedom Flex can empower your pockets to start out incomes priceless rewards on quite a lot of purchases.

It is not frequent for no-annual-fee playing cards to supply strong protections for journey and purchases. Nevertheless, the Freedom Flex presents an considerable arsenal of safeguards.

For starters, you will obtain journey cancellation and journey interruption insurance coverage and secondary auto rental collision safety. These advantages are generally seen on premium journey playing cards, so receiving them on a beginner-friendly card is a cause to take observe.

The Freedom Flex presents buy and prolonged guarantee safety, so you’ll be able to really feel higher about charging costly or fragile gadgets to your card. Retailers aren’t all the time cooperative about changing or refunding damaged gadgets, so it is vital to have a bank card that may act as a security internet.

Lastly, by paying to your cellphone invoice along with your Freedom Flex, you will obtain as much as $800 per declare for cellphone insurance coverage. I keep in mind loathing the additional cost on my month-to-month telephone invoice for my provider’s insurance coverage. So, as quickly as I had a card that provided cellphone insurance coverage, I dropped my provider’s insurance coverage plan and saved a pleasant chunk of change every month.

Whereas journey and buy protections aren’t probably the most thrilling advantages on this planet, they’re vital to have. Even now with six bank cards to my title, I nonetheless recognize my Freedom Flex’s buy and prolonged guarantee safety every time I make an costly buy to benefit from a rotating class.

Chase’s 5/24 rule is certainly one of many essential elements of constructing a long-term bank card technique. It’s an unofficial utility rule whereby the issuer will deny your utility for one among its playing cards in the event you’ve opened 5 or extra private playing cards previously 24 months.

That is why I (and lots of different specialists at TPG) advise that freshmen concentrate on Chase playing cards earlier than different issuers. Belief me after I say that wanting a Chase card whereas at or over 5/24 is a painful expertise.

By selecting the Freedom Flex early on in your bank card journey, you will use one among your coveted 5/24 slots for an important Chase card. Utilizing the Freedom Flex incessantly however responsibly over a number of months will construct a wholesome relationship with Chase. That may then open the door to higher-tier playing cards just like the Sapphire Most popular and Sapphire Reserve.