Flex (private banking for businesses) has launched a waitlist for the Flex Elite personal credit card. Card basics as follows:
- Card earns up to 5% cash back on all purchases. The amount you earn depends on deposits held with Flex
- 5% back when you hold $1M+
- 4% back when you hold 250k+
- 3% back when you hold $0 or more
- No annual fee
- No Sign up bonus
- Access to Flex Travel
Our Verdict
You only earn 4%/5% on purchases up to your credit limit each month, if you cycle your limit within a month then those purchases above your credit limit earn 3%. Flex also offers a business card with net-60 terms. Flex raised $60m in a Series B round so they do have money to burn. It looks like Flex earns 2.47% currently on deposits so not really worth considering compared to other high yield accounts even with the increased card earning rates. They are teasing more high yield accounts currently so maybe it will be worth considering in the future.
