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The Chase Freedom Flex and Discover it Cash Back both earn up to 5x rewards, but they’ve got substantial differences.
Chase; Discover; Insider
The Discover it® Cash Back and Chase Freedom Flex℠ are popular cash-back credit cards.Both have similar earning structures and opportunities to earn bonus rewards.The Chase Freedom Flex℠ offers a wider range of redemption options and substantial benefits.Read Insider’s guide to the best cash-back credit cards.
There are plenty of cash-back credit cards on the market, with some earning a flat rewards rate on all purchases and others that offer a bonus in popular categories. A handful of cards, including the Discover it® Cash Back and Chase Freedom Flex℠, take a slightly different approach, with rotating bonus categories that change every three months.
The Discover it® Cash Back earns 5% cash back on up to $1,500 in combined spending each quarter in rotating categories once you activate Discover It Cashback rotation. Similarly, the Chase Freedom Flex℠ also earns 5% back (5x Ultimate Rewards points) in quarterly rotating categories, on up to $1,500 in spending after activation (then 1x).
At first glance, these cards might seem almost identical, but there are significant differences that could be a big factor in deciding which is best for you. Of course, there’s no reason why you can’t have both, and doing so is actually a good strategy for maximizing rewards on a wider range of everyday expenses (although very occasionally, the cards’ quarterly bonus categories overlap). Plus, neither card charges an annual fee, so yearly cost isn’t an issue.
Chase Freedom Flex and Discover it Cash Back welcome bonuses
Chase Freedom Flex℠: Earn Chase Freedom Flex℠Discover it® Cash Back: No traditional welcome bonus, but Discover will match all the cash back you earned after the first 12 months
Here’s what to know to help decide whether the Discover it® Cash Back or Chase Freedom Flex℠ is a better fit for your wallet.
We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
Comparison: Discover it Cash Back vs Chase Freedom Flex
Discover it® Cash Back
Chase Freedom Flex℠Annual fee
Discover it® Cash Back
Chase Freedom Flex℠Welcome bonus
None, but Discover will match all the cash back you earned after the first 12 months
Chase Freedom Flex℠Rewards rate
5% cash back in categories that rotate each quarter on up to $1,500 in combined spending when you activate (then 1%) Discover It Cashback rotation
1% cash back on all other eligible purchases
5% cash back (5x points) on travel purchased through Ultimate Rewards
5% cash back (5x points) on up to $1,500 in purchases each quarter in rotating bonus categories when you activate
5% cash back (5x points) on Lyft rides through March 2025
3% cash back (3x points) on dining and drugstore purchases
1% cash back (1x points) on everything else
Card benefits
Free FICO score
No late payment fee on your first late payment (then up to $41)
Car rental insurance (secondary in the US, primary otherwise)
Trip cancellation/interruption insurance
Purchase protection
Extended warranty
Travel and emergency assistance services
Free credit score
Introductory 0% APR offer
Discover it® Cash Back, then a Discover it® Cash Back APR
Chase Freedom Flex℠, then a Chase Freedom Flex℠ APRForeign transaction fee
No
YesReview
Discover it Cash Back card review
Chase Freedom Flex credit card review
Welcome bonuses
If you’re looking to earn an immediate return without meeting a huge minimum spending requirement, the Chase Freedom Flex℠ is a better choice, with a welcome offer of Chase Freedom Flex℠. Though it’s marketed as a cash-back card, the Chase Freedom Flex℠ actually earns rewards in the form of Chase Ultimate Rewards points, so $200 cash back is actually 20,000 points (more on that in a bit).
Read more: Chase Freedom Flex card review
The Discover it® Cash Back doesn’t come with a standard welcome bonus. Instead, through its Cashback Match program, Discover will match all the cash back you’ve earned at the end of the first year. While you’ll forego an upfront bonus, the Cashback Match program could actually be a lot more lucrative depending on how much use the card.
For example, if, in the first year, you earned $500 in cash back from your regular spending on the Discover it® Cash Back, Discover would match that amount for a total of $1,000 in cash back the first year.
Read more: Discover it Cash Back card review
Earning rates
On the surface, both cards appear similar. The Discover it® Cash Back offers 5% back on up to $1,500 in combined rotating quarterly category spending (then 1% back) after you activate the bonus Discover It Cashback rotation. All other purchases earn a straight 1% cash back.
Discover makes it easy to plan a credit card rewards strategy because, late each year, it reveals its cash back categories for the entire following year.
Read more: Discover cash back calendar 2022
Discover it Cash Back categories for 2022
Q1 (January – March): Grocery stores and fitness club/gym membershipsQ2 (April – June): Gas stations and TargetQ3 (July – September): Restaurants and PayPalQ4 (October – December): Amazon.com and digital wallets
The Chase Freedom Flex℠ (and legacy Chase Freedom®, which isn’t available to new applicants anymore) 5x calendar is a little trickier to predict, because Chase only releases new bonus categories a couple of weeks before the start of a new quarter. For example, for Q3 2022 (July through September), the Chase Freedom Flex℠ bonus categories are gas stations, car rental agencies, movie theaters, and select live entertainment.
After activating the bonus, Chase Freedom Flex℠ cardholders can earn 5% back (5x points) on up to $1,500 in combined spending each quarter (then 1x). However, there are other earning categories offered by the Chase Freedom Flex℠ that stay the same throughout the year — and none of these are capped:
5x points (5% cash back) on travel booked through the Chase Ultimate Rewards Travel Portal5x points (5% cash back) on Lyft purchases through March 20253x points (3% cash back) on dining (including takeout and eligible delivery services)3x points (3% cash back) at drugstores
You’ll earn 1% cash back (1x points) on everything else.
If you spend a lot at restaurants and drugstores, earning 3x points on those purchases with the Chase Freedom Flex℠ can add up very quickly — and you’ll do even better if you book your flights, hotels, and rental cars through the Chase portal to earn 5x points. For this reason, the Chase Freedom Flex℠ has an advantage over the Discover it® Cash Back, which only earns 1% on everything (outside of its quarterly categories, up to limits).
Redemption options
The Discover it® Cash Back is purely a cash-back card, and your redemption options are straightforward. Cardholders can redeem rewards, in most cases for any amount, toward:
An account statement credit (to lower your balance)Direct deposit to your bank accountCheck out at Amazon or PayPalDonations to select charities Gift cards or eCertificates from partner retailers (starting at $5)
Things aren’t as simple with the Chase Freedom Flex℠, but that’s a good thing if you want more ways to use points. As mentioned, the card earns rewards in the form of Chase Ultimate Rewards points, which you can redeem for cash back at a rate of 1 cent apiece. But you’ve also got these redemption options:
Gift cards (1 cent per point)Airfare, hotels, car rentals, and more through the Chase Ultimate Rewards travel portal (1 cent per point)Apple purchases (1 cent per point)Pay Yourself Back (more than 1 cent per point, categories and value vary)Amazon purchases (0.8 cents per point)
Read more: How to earn, redeem, and maximize Chase Ultimate Rewards points
The Chase Freedom Flex℠ becomes even more valuable if you have certain other Chase cards in your arsenal, because you can combine points between your accounts. For example, if you have the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, you’ll get the ability to transfer points to Chase’s airline and hotel partners. You’ll also have more ways to redeem points through Chase’s Pay Yourself Back program, and when you book travel through the Chase Travel Portal, your points have a higher value.
In fact, pairing a Freedom card with one of the Chase travel cards mentioned above is one of the best ways to increase the value of your Ultimate Rewards points and maximize your rewards.
Chase Ultimate Rewards points are worth, on average, 1.8 cents apiece based on Insider’s points and miles valuations— primarily because you can get outsized value when you transfer points to airline and hotel partners for award travel.
Benefits and features
Between the Discover it® Cash Back and Chase Freedom Flex℠, one card is a clear winner when it comes to extra perks.
The Chase Freedom Flex℠ comes with a broad range of travel and shopping protections — including select World Elite Mastercard benefits — that you don’t often see on a no-annual-fee card.
Chase Freedom Flex benefits
Cell phone protection: When you pay your wireless bill with the card, you’ll get up to $800 per claim and $1,000 per year, with a $50 deductible per claim and a maximum of two claims per 12-month periodPurchase protection: Coverage for damage or theft for 120 days, up to $500 per claim and $50,000 per account, when you pay for an eligible new purchase with your cardCar rental insurance: Decline the rental company’s collision insurance and charge the entire rental cost to your card, and you’re covered for theft and collision damage on most cars (coverage is secondary in the US, primary otherwise)Extended warranty: Eligible items you purchase with your card, with a manufacturer’s warranty of three years or less, can receive an additional year of extended warranty coverageTrip interruption/cancellation insurance: Pay with the card and you’re covered for up to $1,500 per person and $6,000 per trip if your trip is canceled or shortened because of illness, severe weather, or other eligible eventsTravel and emergency assistance services: Access an assistance hotline that can help arrange things like legal and medical referrals, prescriptions, translation services, and more (any third-party costs are your responsibility)Other World Elite Mastercard benefits: These include Lyft, Fandango, and Hello Fresh credits when you make eligible purchases, and a complimentary one-year ShopRunner membership
In comparison, the Discover it® Cash Back doesn’t come with any flashy benefits. Cardholders receive a few perks that come standard with many cards, including access to a free FICO score and the ability to freeze their account in the event they misplace their card or suspect fraudulent use.
One advantage the Discover it® Cash Back has over the Chase Freedom Flex℠ is fees. If you travel abroad, the Discover it® Cash Back is a better choice, because it doesn’t add foreign transaction fees (the Chase Freedom Flex℠ adds a 3% fee to international purchases). The Discover it® Cash Back also waives the late payment fee for your first late payment (but afterward charges up to $41).
Read more: The best credit cards with no foreign transaction fees
Both cards come with an introductory 0% APR offer. New Discover it® Cash Back cardholders receive a Discover it® Cash Back, followed by a Discover it® Cash Back APR.
The Chase Freedom Flex℠ also offers a Chase Freedom Flex℠. After 15 months, a Chase Freedom Flex℠ APR applies.
Bottom line
If you have to choose just one card, the Chase Freedom Flex℠ is a better pick for most people. It’s got a solid welcome offer and more bonus categories and opportunities to redeem rewards — plus the option to combine points with other Chase Ultimate Rewards cards. And it offers excellent benefits for a no-annual-fee card which can save you a lot of money.
However, if you’ll spend a lot on your card, the Cashback Match offered by the Discover it® Cash Back has the potential to generate more rewards in the first year. The card is also a better fit if you’ll travel internationally because it doesn’t add foreign transaction fees.