Chase Freedom Flex℠ vs. Chase Freedom Unlimited®

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Trying to decide which card to apply for, CardName or CardName, could prove difficult for anybody because they frankly have a lot of similarities. They also are both excellent cash-back credit cards designed to help you maximize your cash back earning with your everyday spending. The good news is, you don’t actually have to choose just one. That’s right, you can technically have both!

That, however, may not be your best option given that they are so similar and particularly if you are concerned about your status under Chase’s 5/24 rule – that is, the unofficial (yet anecdotally official) “rule” that Chase will not approve you for a new credit card if you’ve applied for five or more cards with any bank within the past 24 months.

All that to say, deciding which of these two cards to apply for could be an interesting choice that comes down to whether you’re interested in keeping track of rotating categories each quarter (we’ll explain below). The very good news is that you’re going to probably be pleased whether you pick the Freedom Flex^SM or Freedom Unlimited®.

Still, you may feel you win a little more with one or the other depending on your lifestyle and credit card habits since the two credit cards aren’t completely alike..

Rewards earning rates

Both credit cards offer some solid cash-back rewards. We’ll start with CardName since, while generous, it’s categories don’t include a rotating option, which arguably makes it simpler to understand.

Chase Freedom Unlimited® cardholders can earn 6.5% cash back on travel purchased through Chase Travel℠; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services; and 3% on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on Chase travel; 3% cash back on drugstore purchases and dining; and unlimited 1.5% cash back on all other purchases.

If you’re a CardName cardholder, things are a little different – not better or worse, it all just depends on whether you’re somebody who doesn’t mind keeping track of rotating categories.

Here’s the deal, each quarter Flex^SM card members can activate a bonus category, such as grocery store purchases or Amazon purchases or gas station purchases, and earn 5% cash back (up to $1,500 in combined purchases). If you’re acquainted with Chase Freedom®, this will sound familiar.

Additionally, Freedom Flex^SM cardholders, no matter what the quarter, will earn the following:

• 5% cash back on travel purchased through Chase Ultimate Rewards®
• 3% on dining purchases, including take out and delivery
• 3% on drugstore purchases
• 1% cash back on your other eligible purchases

Which card is better really depends on how much thought you want to put into your purchases in. Do you want to deal with 5% rotating categories? Are you willing to sacrifice the 5% rotating categories with Freedom Flex^SM and instead enjoy at least 1.5% cash back on every purchase that doesn’t earn more with Freedom Unlimited®?

Let’s keep looking through what these cards offer.

New cardholder cash-back bonus

Both cards offer generous bonus opportunities. CardName offers $200 cash back (that’s 20,000 Chase Ultimate Rewards® points) after spending $500 on purchases in the first three months and CardName offers an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) – worth up to $300 cash back.

Cash-back redemption options

These credit cards are twins in this category. With both Flex and Unlimited®, your cash-back rewards actually accumulate as Chase Ultimate Rewards® points which means that you can redeem them through the Ultimate Rewards® portal for gift cards, travel bookings, cash as a deposit or statement credit to your account, and for purchases made through shopping partners such as Amazon and Apple.

Let’s linger on that Ultimate Rewards® Points for a moment. Yes, both cards are marketed as cash-back cards, and they’re very good for that, but they’re arguably better if you think about them as complementary cards to your travel rewards strategy. That is, assuming you have a Chase Sapphire Preferred® or Chase Sapphire Reserve® or Ink Business Preferred®, you can transfer the points you earn with either of these “cash-back” cards to the bucket under your “travel rewards” card and make those points worth 25% to 50% more when you redeem them for travel.

Also worth noting is that in the case of both credit cards, your cash back rewards don’t expire as long as your account is open, and there is no minimum you need to earn to redeem for cash back.

Interest rates and fees

In theory, you should be paying off your credit card every month if you really want the rewards to add up and mean something. Still, things happen, so knowing the interest rates is important.

And fees? Well, same thing. Every credit card has some sort of fee, but some have fewer or more reasonable ones than others. The trick is to understand the fees and choose a card that offers you the perks and rewards you need in order to offset them.

So how do Freedom Flex^SM and Freedom Unlimited® do?

Pretty well, actually.

Both cards offer a 0% introductory APR on purchases and balance transfers for the first 15 months that your account is open. After that, you’ll pay an APR of RegAPR for Flex^SM and RegAPR for Unlimited®, depending on your credit score and credit history. In any case, the rate is pretty typical.

Neither card has an annual fee, which is a big point in favor of either card.

However, there is, alas, a foreign transaction fee for both cards. If you rarely travel abroad, that won’t be a big deal, especially if you have another credit card you can use for international travel, one that doesn’t have a foreign transaction fee. If you do travel around the world a lot, you may want to rethink getting either credit card and look for a card that doesn’t have a foreign transaction fee.

Should I get Chase Freedom Flex℠ or Chase Freedom Unlimited®?

If you like both cards, and you’re torn on which card you want, then you should examine the rewards earning rates. That’s where the two credit cards diverge.

In fact, though, the best case scenario, is that you carry both so you can earn 5% in rotating categories with the Flex^SM card and 1.5% cash back on all your non-higher-earning purchases with the Unlimited® card.

Take a look at the side-by-side comparison of Chase Freedom Flex^SM and Chase Freedom Unlimited® below.

Chase Freedom Flex℠ vs. Chase Freedom Unlimited®

For a full synopsis of each card, see our CardName and CardName.