Frey, 26, was taken in the sixth round of the 2012 NFL draft. He was unable to make the final 53-man roster during his rookie season and ultimately signed on their practice squad.
Since then, Frey has been waived and later re-signed a few times, but Chicago wound up promoting him to their active roster a few weeks ago.
Frey has appeared in three games this season and has recorded 12 tackles, two forced fumbles and a recovery. Pro Football Focus has him down for playing 95 snaps this season, but they also have him rated as below-average cornerback due to a poor coverage rating.
Last year, Frey appeared in all 16 games and totaled 48 tackles and a half sack for Chicago.