Credit card comparison: Chase Freedom Flex vs. Chase Freedom Unlimited

Business Insider recommends credit cards based on their overall value and ease of use. Sometimes, we receive a commission through The Points Guy affiliate network if you apply and are approved for a card, but our choices are always independent and objective.

Chase offers some of the best rewards credit cards on the market, including the Chase Sapphire Reserve® for travel as well as co-branded credit cards with programs like Southwest Rapid Rewards and Marriott Bonvoy.

The card issuer’s cash-back credit card offerings have also remained popular with consumers thanks to their lucrative rewards schemes and lack of annual fees — and these cards just got even better.

As of September 15, consumers can sign up for a new cash-back card called the Chase Freedom Flex℠, which has replaced the Chase Freedom for new cardholders but includes the same rotating quarterly bonus categories for earning up to 5% cash back on up to $1,500 per quarter after activation. Chase has also revamped the Chase Freedom Unlimited®, and both new offerings rack up bonus rewards in categories like dining and travel booked through Chase, as well as drugstore purchases.

 If you’re considering a new cash-back credit card, you’ll want to compare the Chase Freedom Flex℠ and the Chase Freedom Unlimited® to see how they stack up.

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.

*not including grocery-store purchases at Target and Walmart

Both the Chase Freedom Flex℠ and the Chase Freedom Unlimited® will start new cardmembers off with a $200 cash bonus when they spend $500 on their cards within three months of account opening.

This bonus is very generous compared to what you’ll get with many cash-back credit cards from other issuers. It’s also easy for most people to earn considering you only have to spend $167 per month for three months in a row to reach the bonus threshold.

Both cards also let you rack up 5% cash back on purchases made with Lyft through March of 2022. Separately, you’ll also earn 5% back in the grocery store category (excluding Walmart and Target) during your first cardholder year, on up to $12,000 spent.

The earning rates on each card are where they really set themselves apart.

The Chase Freedom Flex℠ is unique because you get 5% back on up to $1,500 spent in quarterly bonus categories (then 1% back) once activated like you did with the old Chase Freedom card, but you also get 5% back on travel booked through Chase, 3% back on dining, 3% back on drugstore purchases and 1% back on everything else you buy.

The Chase Freedom Unlimited® maintains the same 1.5% back on regular purchases as it did before, but now you’ll also earn 5% back on travel booked through Chase, 3% back on dining and 3% back on drugstore purchases.

Both of these Chase credit cards let you access the valuable and flexible Chase Ultimate Rewards program, which lets you redeem your rewards for cash back, statement credits, gift cards, merchandise, and travel through the Chase portal. You’ll get 1 cent per point in value for each of these options.

Also note that, if you pair either of these cards with a Chase travel credit card like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, you can pool your points in your premium card account and get more value for travel when you book through the Chase portal, or transfer your points to Chase airline and hotel partners like United MileagePlus or Marriott Bonvoy.

Another interesting detail about the new Chase Freedom Flex℠ is that, unlike the old Chase Freedom card, this new card will be offered as a World Elite Mastercard rather than a Visa card. This means you’ll get a whole range of new benefits, including:

• Cell phone insurance — The Chase Freedom Flex comes with cell phone insurance worth up to $800 per claim and up to $1,000 per year. This coverage is good for damage or theft when you pay your cell phone bill with your credit card.
• Lyft credits — With the Chase Freedom Flex, you’ll get a $10 credit for every 5 rides you take with Lyft when you pay with your credit card. This credit is capped at one per month and automatically applied to your next ride.
• 5% back on Boxed.com — Qualify for 5% back on purchases made with Boxed.com with the Chase Freedom Flex, which you can use toward your next Boxed.com purchase.
• ShopRunner membership — Qualify for a ShopRunner membership with the Chase Freedom Flex, which helps you qualify for free two-day shipping and free returns at more than 100 retailers.
• Fandango perks — Earn Double VIP points when you purchase movie tickets through Fandango or the Fandango app using the Chase Freedom Flex.

Several major benefits apply to both the Chase Freedom Flex℠ and the Chase Freedom Unlimited®. These include:

Complimentary three months of DashPass

Both cards come with three months of free DashPass membership. After that, you’ll receive 50% off membership for the following nine months.

Purchase protection

Get coverage for new purchases against damage or theft for 120 days. Coverage is good for up to $500 per claim and up to $50,000 per account.

Extended warranties

Eligible items with a manufacturer’s warranty of three years or less can receive an additional year of extended warranty coverage.

Auto rental collision damage waiver

Qualify for auto rental coverage when you pay for your rental car with your credit card. Coverage is secondary, rather than primary, to your personal insurance policy.

Trip cancellation and interruption insurance

Receive reimbursement for up to $1,500 per person and up to $6,000 per covered trip when your travel plans are cancelled or interrupted for a covered reason. Coverage is good for prepaid and nonrefundable travel expenses you pay with your credit card.

Travel and emergency assistance services

Call into a hotline for emergency help when you’re traveling and need medical or legal referrals or travel and emergency assistance.

Free credit score

Both cards let you access your credit score for free at any time with Chase Credit Journey.

Both the Chase Freedom Flex℠ and the newly upgraded Chase Freedom Unlimited® are worth considering if you want to earn cash back on every dollar you spend, but it really boils down to how you want to earn rewards.

The Chase Freedom Flex℠ lets you earn 5% back on up to $1,500 spent in quarterly bonus categories (then 1%) as well as 1% back on regular purchases. Meanwhile, the Chase Freedom Unlimited offers a flat 1.5% back on all purchases that don’t fall into the upgraded bonus categories.

Both of these cards can let you rack up a ton of cash back, or even rewards you can pool in a Chase Sapphire account for better travel redemptions. However, the new Chase Freedom Flex℠ does come with some new World Elite Mastercard benefits that can boost its overall value if you use them.

Make sure to think long and hard about how much you would earn in rewards with either card, and also check out some cash-back credit cards from other issuers before you decide.