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Chase Freedom Flex vs. Discover it® Cash Back: Versatility vs. Unlimited Bonus

Updated
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Steven is a personal finance writer covering topics from mortgages to credit cards to market news. He has written for The Motley Fool Canada, Ramsey Solutions, Nerdwallet, Clever Real Estate, and other major outlets. Steven launched his writing career at the age of four with his first book, "Revenge of the Bad Guys." He currently lives in Portland, Oregon.

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The Chase Freedom Flex® and Discover it® Cash Back both earn a bonus 5% back (up to $1,500 spent) on rotating, quarterly categories that you activate. Beyond that, these cards offer different sets of perks that might make one more suitable for your spending than the other. If you want to add a card with rotating categories to your lineup, let's delve in and see which might be better.

Chase Freedom Flex vs. Discover it® Cash Back overview

As of Jun. 18, 2024
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Chase Freedom Flex® Discover it® Cash Back
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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Apply Now for Chase Freedom Flex®

On Chase's Secure Website.

Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees External Link Icon

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Welcome Offer: Circle with letter I in it. Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening!

$200 bonus

Welcome Offer: Circle with letter I in it. N/A

Discover will match all the cash back you've earned at the end of your first year.

Rewards Program: Circle with letter I in it. 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Travel℠, 3% on dining and drugstores, and 1% on all other purchases.

5% cash back offer

Rewards Program: Circle with letter I in it. Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.

1% - 5% Cashback

Intro APR: Circle with letter I in it. 0% Intro APR on Purchases

Purchases: 0% Intro APR on Purchases, 15 months

Balance Transfers: 0% Intro APR on Balance Transfers, 15 months

Intro APR:

Purchases: 0%, 15 months

Balance Transfers: 0%, 15 months

Regular APR:

20.49%-29.24% Variable

Regular APR:

18.24% - 28.24% Variable APR

Annual Fee: Circle with letter I in it. N/A

$0

Annual Fee:

$0

Highlights:

  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
  • 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
  • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
  • No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Flex® card
  • Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
  • Member FDIC

Highlights:

  • INTRO OFFER: Unlimited Cashback Match for all new cardmembers–only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
  • Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.
  • Redeem your rewards for cash at any time.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It's free, activate with the mobile app.
  • Get a 0% intro APR for 15 months on purchases. Then 18.24% to 28.24% Standard Variable Purchase APR applies, based on credit worthiness.
  • No annual fee.
  • Terms and conditions apply.
Apply Now for Chase Freedom Flex®

On Chase's Secure Website.

Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees External Link Icon

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Here's my personal experience with the Discover it® Cash Back

I've had the Discover it® Cash Back card since 2021. In my first year, I earned about $1,645 in total cash back with Discover's cash back match by:

  • Maxing out the 5% rotating, quarterly categories I activate, up to their spending limit ($711)
  • Charging most purchases to the card ($548)
  • Activating "special offers'' like additional bonus categories separate from the quarterly ones ($136)
  • Taking advantage of referrals and authorized users ($250)

The Discover app is easy to use, and I liked that I could apply my cash back automatically when it was credited to my account. Though I no longer use this card as much as I used to, it still plays a special role in my quest to earn 5% on every purchase.

Insider tip: Buying gift cards from stores in the rotating quarterly categories that you activate, up to the spending limit, will typically qualify for the 5% cash back.

Why Chase Freedom Flex might be the ideal choice

The Chase Freedom Flex® gives you so many ways to earn bonus cash back, very few cash back cards can keep up. Not only does the card have rotating bonus categories, but it also earns a fixed rate on dining out, drugstores, and travel. The card is packed with valuable travel and shopping insurance (like cellphone protection and extended warranty), and it even offers a $200 bonus welcome offer to new cardholders who meet the spending criteria of $500 within the first 3 months.

When Discover it® Cash Back could be the better option

What makes the Discover it® Cash Back card stand out from Chase Freedom Flex® is its unlimited cash back match for new cardholders. Discover will match all the cash back you've earned at the end of your first year. There's no cap on how much you can earn, which could make this one of the most lucrative sign-up bonuses you'll ever receive. That said, it doesn't have fixed bonus rates like the Chase Freedom Flex®, nor does it have travel insurance.

Chase Freedom Flex vs. Discover it® Cash Back comparison

The Chase Freedom Flex® and Discover it® Cash Back card are close rivals. Let's take a closer look at how they compare on key perks.

Chase Freedom Flex vs. Discover it® Cash Back annual fee

Both cards have no annual fee. However, if you like to travel abroad, Discover it® Cash Back takes it a step further and also has no foreign transaction fee. The Chase Freedom Flex®, for its part, charges a foreign transaction fee of 3% of each transaction in U.S. dollars.

Winner: Discover it® Cash Back

Chase Freedom Flex vs. Discover it® Cash Back welcome offer

Chase Freedom Flex® gives you the kind of welcome offer you'd expect on a cash back credit card. New cardholders can earn a $200 bonus when they spend $500 on purchases within the cards' first 3 months.

The Discover it® Cash Back card offers an unique welcome offer -- an unlimited cash back match for all new cardholders. This means Discover will match all the cash back you've earned at the end of your first year. Better yet, there's no cap on how much you can earn. If you earned $150, Discover would match it for a total of $300. This unlimited earning potential gives the Discover it® Cash Back quite an edge over the Chase Freedom Flex®, as cardholders could easily double, triple, or quadruple that card's $200 bonus.

Winner: Discover it® Cash Back

Chase Freedom Flex vs. Discover it® Cash Back intro APR

There's not much fierce competition here. Both cards offer a 0% intro APR period of 15 months for new purchases and balance transfers. Once this period ends, both cards revert to a regular, much higher APR. With the Discover it® Cash Back you'll pay a 18.24% - 28.24% Variable APR at the end of the intro period. With the Chase Freedom Flex® you'll pay the standard 20.49%-29.24% Variable APR at the end of the intro period.

Winner: Tie

Chase Freedom Flex vs. Discover it® Cash Back rewards

So far, the Discover it® Cash Back card has been packing quite the punch. But when it comes to earning cash back, the Chase Freedom Flex® pulls ahead.

For its part, the Discover it® Cash Back earns a bonus 5% back on rotating, quarterly categories (up to $1,500 spent) that you must activate. In the past, these categories have included restaurants, gas stations, grocery stores, home improvement stores, and Amazon.com, among others. It also earns an unlimited 1% cash back on other purchases.

In a similar manner, the Chase Freedom Flex® also earns 5% back on rotating, quarterly categories (up to $1,500 spent) that you activate. Its bonus categories are similar to Discover's, though the cards rarely run the same bonus category at the same time. Plus, the Chase Freedom Flex® also earns an unlimited 3% back on drugstores and dining, including takeout and eligible delivery service, 5% back on travel purchases through Chase Ultimate Rewards®, and 5% on Lyft rides through March 31, 2025.

It's also worth noting that Chase Freedom Flex® comes with a full suite of valuable insurance, including cellphone protection, purchase protection, extended warranty protection, trip cancellation/interruption insurance, and auto rental collision damage waiver. Meanwhile, Discover credit cards haven't had travel insurance since 2018.

Winner: Chase Freedom Flex®

Final take

The Chase Freedom Flex® does everything the Discover it® Cash Back card does, plus some extra. It's far more versatile for earning bonus cash back and comes with more valuable protections and insurance. It also has a sweet welcome bonus that's fairly easy to snag.

That said, what the Discover it® Cash Back does best is give you an opportunity to earn quite possibly the biggest welcome offer you'll ever earn. The unlimited cash back match for your card's first year is one of the best sign-up bonuses available across all cash back cards -- annual fee or not. This can make your card's first year very exciting, as you'll watch the cash back accumulate for that big payout date.

However, once the cash back match is over, a sobering effect kicks in. The card still earns 5% back on rotating, quarterly categories you activate (up to a quarterly spending limit that would earn $75 in bonus cash back), but beyond that, it offers very little to distinguish itself from other great cash back cards.