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Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
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Chase Freedom Flex vs. Discover it Cash Back: Earn 5% cash back on rotating categories
Stella is a full-time writer with expertise in credit cards, points and miles, and all things travel. She is a journalism graduate of the University of North Carolina, Chapel Hill and previously worked as a copywriter at JetBlue Airways and as a credit cards writer at LendingTree.
When Ryan worked as a TPG credit cards writer, he oversaw refreshes of card reviews and card offer stories. He enjoyed racking up cash back and helping readers maximize their points and miles for their next big trip.
also contributed to this story
July 12, 2024 • 7 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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Quick summary
The article compares two popular cash-back cards with no annual fee, highlighting their earning structures and benefits.
Both cards offer 5% cash back in rotating quarterly categories, but one provides additional elevated rates at select merchants and more robust protections.
One card's introductory offer matches all cash back earned in the first year, while the other provides a fixed cash-back bonus after meeting a minimum spend.
Redemption options differ, with one card allowing points to be transferred for higher value if paired with another eligible product.
What to consider
Rotating bonus categories require activation each quarter and have spending caps.
Redemption values may increase if rewards are combined with another eligible product for travel transfers.
Some offers mentioned in the article are no longer available.
What you'll miss from the article
A detailed side-by-side comparison of benefits, earning rates and redemption flexibility between two top cash-back cards.
Generated by AI with support from our editorial team.
Update: Some offers mentioned below are no longer available. View the current offers here.
These two cards, in particular, are worth comparing thanks to their (very) similar earning structures, "good" recommended credit score and other perks. Here’s a snapshot of how the two stack up.
The information for the Discover it Cash Back has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Chase Freedom Flex vs. Discover it Cash Back comparison
Chase Freedom Flex
Discover it® Cash Back
Annual fee
$0
$0
Welcome offer
$200 cash back after you spend $500 on purchases in the first 3 months from account opening
Double cash back on all purchases during the first year
Earning rates
5% cash back on up to $1,500 in purchases on quarterly bonus categories (activation required, 1% after that)
5% cash back on travel purchased through Chase Travel℠
3% cash back on dining, including takeout and eligible delivery services
3% cash back on drugstore purchases
2% back on Lyft rides (through Sept. 30, 2027)
1% cash back on all other purchases
Terms apply
5% on up to $1,500 quarterly rotating categories
1% on everything else
Additional benefits
Cellphone protection
Purchase protection
Zero liability protection
Extended warranty protection
Trip cancellation/interruption insurance
No foreign transaction fees
Freedom Flex vs. Discover it welcome offer
Right now, the Freedom Flex is offering $200 cash back after you spend $500 on purchases in the first three months from account opening.
The Discover it, meanwhile, will match the cash back earned on all purchases during your first year of card ownership, effectively doubling the card's earning rates for the first 12 months.
That means if you earn more than $200 cash back on the Discover it during your first year — not too difficult, given the card's 5% rotating bonus category — its welcome offer will outweigh the Freedom Flex's.
Winner: Discover it. Its welcome offer is potentially much more valuable.
Freedom Flex vs. Discover it benefits
The Freedom Flex card offers a few common benefits for a no-annual-fee card, including cellphone protection, shopping protections, and trip cancellation and interruption insurance. Cardholders who activate by Dec. 31 will also enjoy three months of complimentary DashPass with DoorDash, which provides free delivery on eligible orders and reduced service fees.
ROB LEWINE/GETTY IMAGES
The Discover it is a little shorter on benefits. However, you'll still enjoy things like online privacy protection, a $0 fraud liability guarantee and free Social Security number alerts if Discover finds your number used on a dark website.
Winner: Freedom Flex. Its benefits win out here.
Earning cash back on the Freedom Flex vs. Discover it
The Freedom Flex comes with the following earning bonuses:
5% on up to the first $1,500 spent on rotating categories each quarter (activation required)
5% on travel booked through Chase Travel
3% on dining (including takeout and eligible delivery services)
3% on drugstore purchases
2% on Lyft rides (through Sept. 30, 2027)
1% on all other purchases
JUSTIN PAGET/GETTY IMAGES
Those earning categories would be healthy for any card, let alone a no-annual-fee card. The rotating categories change each quarter and have included Walmart, gas stations and purchases with PayPal in the past.
The Discover it also has a rotating 5% bonus category with a quarterly calendar, although it doesn't come with the other sweet earning rates the Freedom Flex has.
Winner: Freedom Flex. Its earnings rates are more valuable.
Redeeming cash back on the Freedom Flex vs. Discover it
Here’s where the two cards potentially diverge dramatically. The Discover it Cash Back card is a cash-back credit card, plain and simple. Each point you earn is worth 1 cent apiece toward statement credits on purchases, gift cards, charitable donations and deposits into a linked bank account.
Theoretically, the points you earn with the Chase Freedom Flex are also worth 1 cent apiece toward statement credits, travel booked through Chase, gift cards and direct deposits into linked U.S. bank accounts, though slightly less for Amazon.com purchases and Chase Pay redemptions.
GEORGIJEVIC/GETTY IMAGES
However, suppose you have another card that earns transferable Ultimate Rewards points. In that case, you can combine the ones you earn with your Freedom Flex card with your other accounts and make them transferable to the program’s airline and hotel transfer partners.
Winner: Freedom Flex. It has more valuable redemption options.
Transferring cash back on the Freedom Flex vs. Discover it
Converting your Freedom Flex rewards also means you are raising the value of your points on direct travel redemptions through the Chase Travel portal. Instead of 1 cent per point, you can unlock 1.25-1.5 cents per point (depending on the other card you carry). That means you are potentially upping your rate of return by 25 to 50%.
FRESHSPLASH/GETTY IMAGES
Some of the best Chase transfer partners include Hyatt, United, British Airways and Singapore Airlines for fancy hotels or flights.
TPG director of content Summer Hull prefers to transfer her points to World of Hyatt so she can use them to book stays at resorts or city properties that would typically be out of her budget. No matter how you use your rewards, you'll find some great transfer options in Chase's list of partners.
Winner: Freedom Flex. It has better transfer options.
Should I get the Freedom Flex or Discover it?
The Chase Freedom Flex is a better choice for frequent travelers looking to boost their points balance. This is because of the added flexibility of point redemptions if you have another Chase Ultimate Rewards card. However, if you’re just getting started with credit and looking for a no-frills, no-fee card with a great rate of return that won’t penalize you for a late payment while you’re getting started, the Discover it® Cash Back is also an excellent choice.
Bottom line
With the valuable rotating bonus categories on both cards, it's easy to justify actually getting both the Freedom Flex and the Discover it. The two cards are easily some of the best no-annual-fee cash-back offerings on the market.
And once you factor in the matched cash back offer on the Discover it and the additional perks on the Freedom Flex, the question of "Are these cards worth it?" becomes a lot easier to answer for the average cash-back enthusiast.
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
