Chase Freedom Flex

In A Nutshell

The Chase Freedom FlexSM offers an enticing $200 sign-up bonus after spending $500 in the first three months. Plus cash back rewards on travel, dining, drugstore and every day purchases with rewards that never expire. All for no annual fee!

Read review
Proceed Card info has been collected by MoneyUnder30 to help consumers better compare cards. The financial institution did not provide or approve card details

In A Nutshell

The Chase Freedom FlexSM offers an enticing $200 sign-up bonus after spending $500 in the first three months. Plus cash back rewards on travel, dining, drugstore and every day purchases with rewards that never expire. All for no annual fee!

Read review
Credit Score Requirements: Credit Score requirements are based on 573’s own research of approval rates; meeting the minimum score will give you the best chance to be approved for the credit card of your choice. If you don’t know your credit score, use our free credit score estimator tool to get a better idea of which cards you’ll qualify for. *573 uses a FICO 8 score, which is one of many different types of credit scores. *A creditor may use a different score when deciding whether to approve you for credit. ?
  • Good
  • Excellent
Poor 500-599
Fair 600-699
Good 700-749
Excellent 750-850

What We Like:

  • Awesome $200 cash back bonus after spending $500 on purchases in the first 3 months from account opening.

  • Earn 5% cash back on travel booked through Chase Ultimate Rewards(R) and on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter, plus earn 1% on all other purchases.

  • 0% Intro APR on purchases and balance transfers for 15 months from account opening on purchases, then a variable APR of 19.24% – 27.99%.

  • 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(R), 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 19.24% - 27.99%.
  • No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom FlexSM 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.
Intro APR Purchases
0% Intro APR on Purchases for 15 months
Intro Term Purchases
15 months
Intro APR Balance Transfers
0% Intro APR on Balance Transfers for 15 months
Intro Term Balance Transfers
15 months
Regular APR
19.24% - 27.99% Variable
Annual Fee

Apply Now >>

The Chase Freedom Flex℠ offers a 0% Intro APR on Purchases for 15 months and 0% Intro APR on Balance Transfers for 15 monthsAfter the introductory period, your APR range will be 19.24% - 27.99% Variable with a $0 annual fee. 

The Chase Freedom Flex offers 5% cash back on up to $1,500 in eligible purchases in bonus categories each quarter you activate, as well as 5% cash back on travel purchases when you book through Chase Ultimate Rewards®. Cardholders can also earn 3% back when dining or visiting drug stores and 1% cash back on all other purchases.

Plus earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.

Read our full Chase Freedom Flex℠ review.

The Citi® Diamond Preferred® Card offers an introductory 0% for 21 months on Balance Transfers from date of first transfer and 0% for 12 months on Purchases. After the intro period, cardholders can expect an ongoing APR of 17.24% - 27.99% (Variable) on purchases made with the card.

Another benefit of the Citi® Diamond Preferred® Card is that you’ll pay no annual fee. You’ll also get all the benefits that come with Citi® cards, including purchase and identity theft protection, automatic account alerts, and flexible payment dates.

If you’re using the Citi® Diamond Preferred® Card to consolidate existing debt, a 5% of each balance transfer; $5 minimum.

Card info has been collected by MoneyUnder30 to help consumers better compare cards. The financial institution did not provide or approve card details.

Getting an auto loan with excellent credit

With excellent credit, you’ll have absolutely no trouble getting an auto loan. You can apply with any bank, credit union, or dealership-related lender, and get approved with the best rates available. Or, you can check out Fiona.

As a personal strategy, it’s best to apply with your own bank or credit union. Credit unions in particular tend to offer the lowest auto loan rates since they’re member-owned. At a minimum, apply for an auto loan with a credit union, then bring the loan approval to the car dealership. See if they’ll make you an even better offer. They may not be able to, but it’s always worth the effort.

Your excellent credit will not only ensure a speedy approval, but you’ll also be able to get the best terms. That may include 100% financing – if that’s what you choose – and a loan term as long or short as you prefer.

You’ll definitely be in a preferred position when it comes to interest rates. Take a look at our auto loan calculator to see what kind of rate you can get.

Getting a mortgage with excellent credit

There may be no single loan type where having excellent credit can save you more money. Mortgage lenders will provide loans for people with credit scores as low as the 580 to 620 range. But the higher your credit score, the lower your interest rate will be.

And for what it’s worth, there really isn’t any significant difference in the interest rate you pay from one company to another. They all sell their loans under the same programs – FHA, VA, Fannie Mae, and Freddie Mac. Your credit score will have a much bigger impact on the rate than the lender you apply with.

Reali Loans is a great way to test the waters before you start shopping around. You can get pre-approval for a mortgage by providing pay stubs and downpayment information. You’ll be provided quotes from multiple lenders, and you can use the information to choose the best rate. Most importantly, the pre-qualification process doesn’t affect your credit score.

Check out our mortgage calculator to see what kind of rate you can get.

The hidden benefit of excellent credit with mortgages

If you know much about mortgages, you’ve probably at least heard of private mortgage insurance, or PMI. But here’s a not so surprising fact – PMI premiums are also based on your credit score. In fact, the impact is even greater than it is with mortgage rates themselves, at least on a monthly basis.

PMI is required on conventional mortgages any time you make a down payment of less than 20% of a purchase, or you have less than 20% equity for a refinance. It’s not inexpensive.

Let’s work an example based on two credit scores.

For this example, I’m going to be referring to the MGIC Rate Card for PMI premiums. MGIC is one of the largest PMI providers in the nation.

Let’s say you’re purchasing a home for $400,000. You’re going to make a down payment of 5% – $20,000 – and taking a 30-year fixed-rate mortgage for $380,000. Put another way, you’ll be taking a mortgage equal to 95% of the purchase price. And that means PMI will be required.

If you have average credit, 680 to 699, the annual premium will be 1.08% with 30% coverage. That will result in an annual premium of $4,104, which will translate into a monthly premium of $342. That amount will be added to your basic mortgage payment, plus your property taxes and homeowner’s insurance.

By contrast, if your credit score is at least 760, the annual premium rate on the same loan drops to 0.41%. On a $380,000 mortgage, the annual premium is $1,558, or about $130 per month.

Adding up all the mortgage savings from excellent credit

Because of your excellent credit, you’ll save $212 per month, or $2,544 per year, just on your PMI premiums. When you consider you’ll be paying those premiums for several years, that can really add up. Over 10 years, that’s a difference of $25,440.

When you add the PMI savings to the money you’ll be saving from your lower interest rate on the mortgage itself, it adds up to tens of thousands of dollars.

This is why excellent credit is especially important when you’re applying for a mortgage, and particularly when you’re making a minimum down payment.

What’s the definition of excellent credit?

As was the case in our articles on fair and good credit (see below), I’m going to rely on the Experian definition of excellent credit.

Experian breaks excellent credit into two categories – very good and exceptional. But either qualifies as excellent with the vast majority of lenders.

Very good includes a credit score range between 740 and 799. 18.2% of the population falls into this category. Exceptional includes a credit score range between 800 and 850 (the maximum credit score possible). This group represents 19.9% of the population.

Whether your credit score comes under Experian’s definition of very good or exceptional, doesn’t make a whole lot of difference. Most lenders will consider a credit score of better than 740, and without any significant derogatory credit, to be excellent. You’ll be eligible for the best loan programs and pricing possible in virtually every lending capacity.

Let’s look at what kinds of financing is available if you have excellent credit.

Common document requirements for a loan application when you have excellent credit

Below is a list of documentation commonly required for loans of all types. Exactly which items you’ll be required to furnish will depend on the lender and the kind of loan you’re applying for. However, if you have excellent credit, lenders will often relax the documentation requirements. For example, if you have preferred customer status at a bank, they may not require any documentation at all.

Nonetheless, be prepared to furnish any and all of the following:

  • Your most recent pay stub and W-2(s) to document your income.
  • Evidence of Social Security or pension income (award letter or 1099).
  • Contact information for your employer (the lender will verify your employment directly).
  • Copies of completed income tax returns for the past two years, if you’re self-employed or work on commission.
  • Make, model, and value of your car; VIN number if you’re applying for an auto loan.
  • If you’re paying or receiving child support or alimony, list the amount you’re paying or receiving.
  • Bank or brokerage statements, or even retirement account statements.

How to maintain your excellent credit

If you have a credit score of 740 or higher, you probably don’t need much advice on credit. But since people do sometimes fall from excellent credit grace, let’s spend a bit of time talking about what to do – or not do – to maintain your high credit level.

Here are some dos and don’ts:

  • Do continue to make all your payments on time, including utility bills and medical payments.
  • Don’t apply for new credit too frequently – new loans can drop your credit score.
  • Do monitor your credit regularly. If errors appear, correct them immediately with creditors, and make sure they report the corrections to all three major credit bureaus.
  • Don’t cosign loans. Even though you aren’t the primary borrower, if that person makes a late payment, it will be reflected on your credit report. If they default, that will also show up on your credit report.
  • Do keep your credit card balances low. Even if you have a perfect payment history, your credit score can be negatively affected by an excessive credit utilization ratio.


You’ll be at an advantage with excellent credit, so be sure to shop for the lowest rate. Typically, you’ll find interest rates from 5.99% to 7.99% if your credit is excellent.
Your score may drop slightly after you sign on the dotted line, but with regular monthly payments, you should be able to keep your score strong.
Lenders often take other factors into consideration. Your debt-to-income ratio may be too high or your income may not be steady enough to suit the lender’s requirements.


Excellent credit is a definite asset and one you’ll want to protect at all costs. It will enable you to pay less for financing every time. Above are some lenders that offer some of the best deals for those lucky folks who have excellent credit.

Read more

Marcus By Goldman Sachs® Offer Terms and Conditions - Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. Rates range from 6.99% to 24.99% APR, and loan terms range from 36 to 72 months. For NY residents, rates range from 6.99%-24.74%. Only the most creditworthy applicants qualify for the lowest rates and longest loan terms. Rates will generally be higher for longer-term loans. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans). Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions. Receive a 0.25% APR reduction when you enroll in AutoPay. This reduction will not be applied if AutoPay is not in effect. When enrolled, a larger portion of your monthly payment will be applied to your principal loan amount and less interest will accrue on your loan, which may result in a smaller final payment. See loan agreement for details.


¹ For Figure Home Equity Line, APRs can be as low as 4.49% for the most qualified applicants and will be higher for other applicants, depending on credit profile and the state where the property is located. For example, for a borrower with a CLTV of 45% and a credit score of 800 who is eligible for and chooses to pay a 4.99% origination fee in exchange for a reduced APR, a five-year Figure Home Equity Line with an initial draw amount of $50,000 would have a fixed annual percentage rate (APR) of 3.00%. The total loan amount would be $52,495. Alternatively, a borrower with the same credit profile who pays a 3% origination fee would have an APR of 4.00% and a total loan amount of $51,500. Your actual rate will depend on many factors such as your credit, combined loan to value ratio, loan term, occupancy status, and whether you are eligible for and choose to pay an origination fee in exchange for a lower rate. Payment of origination fees in exchange for a reduced APR is not available in all states. In addition to paying the origination fee in exchange for a reduced rate, the advertised rates include a combined discount of 0.50% for opting into a credit union membership (0.25%) and enrolling in autopay (0.25%). APRs for home equity lines of credit do not include costs other than interest. Property insurance is required as a condition of the loan and flood insurance may be required if your property is located in a flood zone. Figure Lending LLC dba Figure. 15720 Brixham Hill Avenue, Suite 300, Charlotte, NC 28277. (888) 819-6388. NMLS ID 1717824. For licensing information go to Equal Housing Opportunity. Licensed in Alabama 22533, Alaska AK1717824, Arizona 0948458, Arkansas 114692, California: Loans are made and arranged pursuant to a Finance Lenders Law License, Licensed by the California Department of Financial Protection and Innovation under the California Finance Lenders Law (License 60DBO81967), Delaware 026994, Florida MLD1636, Georgia Residential Mortgage Licensee 61229, Idaho MBL-9625, Indiana 39933, Iowa 88893478 and 2018-0048, Kansas MC.0025537 and SL.0026703, Louisiana 1717824, Massachusetts Mortgage Lender License ML1717824, Michigan FL0021494, Mississippi 1717824, Missouri 19-2421, Montana 1717824, Nebraska 1717824, Nevada 4823, New Hampshire 22423-MB, Licensed by the N.J. Department of Banking and Insurance, New Mexico 1717824, North Carolina L-180811, North Dakota MB103310, Ohio RM.804317.000, Oklahoma ML011894, Pennsylvania 66882, South Dakota ML.05202, Tennessee 151185, Washington CL-1717824, West Virginia ML-36248, Wisconsin 1717824BA

Related Tools

About the author

Total Articles: 145
Since 2009, Kevin Mercadante has been sharing his journey from a washed-up mortgage loan officer emerging from the Financial Meltdown as a contract/self-employed “slash worker” – accountant/blogger/freelance web content writer – on Out of Your He offers career strategies, from dealing with under-employment to transitioning into self-employment, and provides “Alt-retirement strategies” for the vast majority who won’t retire to the beach as millionaires. He also frequently discusses the big-picture trends that are putting the squeeze on the bottom 90%, offering work-arounds and expense cutting tips to help readers carve out more money to save in their budgets – a.k.a., breaking the “savings barrier” and transitioning from debtor to saver. He’s a regular contributor/staff writer for as many as a dozen financial blogs and websites, including 573, Investor Junkie and The Dough Roller.