3 reasons why the Chase Freedom Flex is even better than the much-loved Sapphire Preferred card

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  • The Chase Freedom Flex℠ is such a strong card that it could even be a better choice than the ultra-popular Chase Sapphire Preferred® Card.
  • The Chase Freedom Flex℠ has no annual fee compared to a $95 annual fee on the Chase Sapphire Preferred® Card.
  • With the Chase Freedom Flex℠, you can earn bonus rewards on grocery-store and drugstore purchases, while the Chase Sapphire Preferred® Card only offers bonus rewards on travel and dining.
  • If you're open to paying an annual fee, though, it could be worth having both cards, since the Chase Sapphire Preferred® Card gets you access to airline and hotel partners for redeeming your points.
  • See Business Insider's guide to the best rewards credit cards »
  • Visit Business Insider's homepage for more stories.

Chase recently announced a new addition to its lineup of no-annual-fee credit cards. The Chase Freedom Flex℠ replaces the original Chase Freedom card and is a strong alternative to the Chase Freedom Unlimited®, which also has no annual fee.

The Chase Freedom Flex℠ includes the same 5% cash back for rotating quarterly bonus categories (once activated) as the original Chase Freedom, and also earns bonus cash back on grocery store purchases and drugstores, among other types of purchases.

In fact, the welcome offer and ongoing value proposition of the new Freedom Flex card are so attractive that it could be a better card for you than Chase's flagship Chase Sapphire Preferred® Card. 

Chase Freedom Flex℠

Chase Chase Freedom Flex℠

5% cash back (5 Ultimate Rewards points per dollar) ranks the the Freedom Flex as one of the best credit cards for groceries, at least for the first year. Both the Freedom Flex or the Chase Freedom Unlimited® offer this first-year grocery bonus, so if you're looking at these two cards, make sure to check out our Chase Freedom Flex vs. Chase Freedom Unlimited comparison.

The Freedom Flex has no annual fee

Finally, remember that the Chase Freedom Flex comes with no annual fee. It is true that having the Chase Sapphire Preferred® Card allows you to get more value from your Ultimate Rewards points, by allowing you to redeem them for 1.25 cents instead of only 1 cent per point for travel booked through Chase Ultimate Rewards Travel or through Chase Pay Yourself Back for grocery, dining, home-improvement, and eligible charity purchases.

However, you need to redeem a lot of Ultimate Rewards points to make up for the $95 annual fee on the Sapphire Preferred. If you prefer the cash in hand now versus the possibility of saving money on travel or other purchases later, the Chase Freedom Flex℠ is a better option.

Chase Sapphire Preferred® Card

Chase Chase Sapphire Preferred® CardChase Chase Sapphire Preferred® CardCiti Citi® Double Cash CardChase Chase Sapphire Reserve®

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Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

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