Flex Elite Credit Card Waitlist Is Live
Flex has opened the waitlist for its new Flex Elite Credit Card, a personal card that can earn up to 5% cash back on purchases with no annual fee.
The card starts at 3% cash back, which is already pretty strong for a no-annual-fee card. Your earning rate then goes up based on how much money you keep with Flex.
Here’s how the rewards work:
- 3% cash back with less than $250,000 in deposits
- 4% cash back with at least $250,000 in deposits
- 5% cash back with more than $1 million in deposits
Flex says the higher rate applies to personal spending up to your credit limit each month. Any spending above the credit limit during the same billing cycle, such as after making an early payment, earns 3%. Rewards unlock once the statement is paid in full.
There’s no annual fee and no membership fee, and it looks like there’s no signup bonus. The card is a traditional personal revolving credit card issued by Lead Bank on the Visa network.
Flex Elite also comes with access to Flex Travel and concierge service, plus benefits including trip cancellation and interruption coverage, trip delay reimbursement, lost luggage reimbursement, rental car coverage, purchase protection, extended warranty and return protection.
One important thing to keep in mind is that the rewards terms do have exclusions:
- Cash transactions, ATM withdrawals, and cash advances
- Interest charges and fees of any kind charged to the account
- Fraud or fraudulent/unauthorized charges
- Balance transfers
- Person-to-person transactions
- Casino gaming, lottery tickets, sportsbook/sports betting, and similar betting transactions
- Currency orders, wire transfers, and similar money orders or transactions
- Any checks that access the account
- Purchases of prepaid cards and cash equivalents
- Disputed transactions or transactions subject to chargebacks
- Business transactions
HT: Doctor of Credit
