Earn up to $250 bonus cash back with the Chase Freedom Unlimited and the Chase Freedom Flex

When it comes to no-annual-fee credit cards, it doesn’t get much better than Chase’s duo of the Chase Freedom Unlimited® (see rates and fees) and the Chase Freedom Flex® (see rates and fees).And right now, the Freedom Flex has an elevated welcome offer: Earn $250 cash back after spending $500 on purchases in the first three months from account opening.Both reward credit cards offer strong earning rates with no annual fee. Even better, they offer the flexibility to earn either cash back or fully transferable Chase Ultimate Rewards points when combined with select Chase cards, such as the Chase Sapphire Preferred® Card (see rates and fees).Here’s how the current offers compare and what to know before applying.Chase Freedom Flex welcome offerNew Chase Freedom Flex cardholders can earn $250 cash back after spending $500 on purchases in the first three months from account opening.This is the first time in a few years we’ve seen the card offer more than its typical welcome bonus.And while previous offers have included elevated first-year earning rates on groceries, subject to spending caps, the current $250 bonus is the highest fixed cash-back bonus we’ve seen on the card.THE POINTS GUYEarning rates5% cash back on the first $1,500 spent on rotating categories each quarter (activation required)5% cash back on travel booked through Chase Travel℠3% cash back on dining3% cash back at drugstores1% cash back on all other purchasesThe rotating 5% categories require a little more planning, but they can also provide more upside if your spending aligns with them. That’s an impressive lineup of earning categories for any card, let alone a no-annual-fee credit card.Apply: Chase Freedom FlexChase Freedom Unlimited welcome offerRight now, new Chase Freedom Unlimited cardholders can earn $200 cash back after spending $500 on purchases within the first three months from account opening.This is the typical offer we see in the card’s history.THE POINTS GUYEarning rates5% cash back on travel booked through Chase Travel3% cash back on dining3% cash back at drugstores1.5% cash back on everything elseThe 1.5% rate on purchases outside the card’s bonus categories makes the Freedom Unlimited the simpler option for everyday spending.Apply: Chase Freedom UnlimitedHow to get more value from Chase Freedom rewardsWhile both cards are marketed as cash-back cards, there are a couple of ways to stretch your rewards further.Turn your cash back into transferable Chase pointsWhat really makes these two cards powerful is how well they play with others.If you have another Chase card that earns transferable Ultimate Rewards points, such as the Chase Sapphire Preferred, the Chase Sapphire Reserve® (see rates and fees) or the Ink Business Preferred® Credit Card (see rates and fees), you can combine the points from your Freedom Unlimited or Freedom Flex.I have both the Freedom Unlimited and the Freedom Flex, and pair them with my Sapphire Reserve to convert the cash back into Ultimate Rewards points.ANDRESWD/GETTY IMAGESThis unlocks the ability to transfer your points at a 1:1 ratio to the Ultimate Rewards program’s airline and hotel partners, including valuable programs like Air France-KLM Flying Blue, British Airways Club and World of Hyatt*. Your rewards have significantly more flexibility when used in this way.That can also increase the potential value of the current welcome offers. The Freedom Flex’s $250 bonus can effectively become 25,000 transferable Ultimate Rewards points, while the Freedom Unlimited’s $200 bonus can become 20,000 points.Based on TPG’s September 2026 valuations, which deem Chase points at 2.05 cents apiece, those bonuses could be worth about $513 and $410, respectively, when maximized through transfer partners.*1:1 transfer ratio for World of Hyatt with select cardsRelated: The power of the Chase Trifecta: Maximize your earnings with 3 cardsGet more value with Points BoostFreedom Flex and Freedom Unlimited cardholders now have access to Points Boost offers on select hotels booked through Chase Travel. These offers can make your points worth up to 10% more, increasing their value from the standard 1 cent apiece to as much as 1.1 cents each.While that’s not as high as the Points Boost rates available on select Sapphire and Ink cards, it’s a nice addition for two cards with no annual fee, especially if you prefer the simplicity of redeeming through Chase Travel rather than transferring points to travel partners.What to know before applying for a Chase Freedom cardIt’s worth noting that the Freedom Unlimited charges foreign transaction fees, so it’s not ideal for use outside the U.S. The Freedom Flex, meanwhile, recently dropped its foreign transaction fees, giving it an advantage for purchases abroad.Additionally, you’ll want to consider Chase’s 5/24 rule and the issuer’s other application restrictions before applying. You’d hate to waste a hard inquiry on your credit report only to be denied.Bottom lineBoth Freedom cards can be valuable additions to a Chase Ultimate Rewards strategy, particularly if you already hold a Sapphire Preferred, Sapphire Reserve or Ink Business Preferred.The Freedom Flex is especially compelling right now thanks to its $250 cash-back welcome offer after spending $500 on purchases in the first three months from account opening. It’s also the better fit if you can maximize rotating 5% categories or want a no-annual-fee card without foreign transaction fees.The Freedom Unlimited remains the simpler option for everyday spending, thanks to its 1.5% cash-back rate on purchases outside its bonus categories.To learn more, read our reviews of the Freedom Unlimited and the Freedom Flex.Apply here: Chase Freedom UnlimitedApply here: Chase Freedom FlexEditorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.