Which Credit Card Is Better Discover Or Capital One - A white circle with a black border surrounds the upward-facing chevron. It shows 'click here to return to the top of the page.'
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Which Credit Card Is Better Discover Or Capital One
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Capital One Quicksilver Vs. Discover It Cash Back
Chase Freedom Flex vs Discover it Cash Back: How to decide which cash back credit card is right for you
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How To Pick The Best Travel Credit Card In 2023 (+ My Top Cards)
Unlimited cashback game - Receive all your earnings automatically at the end of the first year.
Earn 5% cash back on daily purchases at multiple locations every quarter like Amazon.com, grocery stores, restaurants and gas stations until the highest quarter when they open. Get unlimited 1% cashback on all other purchases automatically.
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5% cash back on up to $1,500 in combined purchases in bonus categories every quarter you spend. 5% cash back on travel purchased with Chase Ultimate Rewards®. 3% cash back on drug and food purchases at restaurants, including convenient delivery and delivery services, and 1% unlimited cash back on all other purchases.
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There are many payday credit cards on the market, some earn average interest on all purchases and others offer bonuses on popular brands. Some cards, including Discover it® Cash Back and Chase Freedom Flex℠, take a slightly different approach, with bonus categories that change every three months.
Discover it® Cash Back earns you 5% cash back up to $1,500 on combined quarterly spending in rotating categories when you use it (from April 1 to June 30, 2023, you can earn 5% cash back at Restaurants and Wholesale Clubs up to $1,500 on purchases after registration, then 1%). In addition, Chase Freedom Flex℠ also earns 5% back (5x Chase Ultimate Rewards® points) in the category play each quarter, up to $1,500 in spending after activation (then 1x).
At first glance, these cards may seem almost identical, but there are some big differences that can be a big factor in deciding which one is best for you. Well, there's no reason you can't have both, and it's a great strategy to maximize your rewards across multiple daily spends (although sometimes, the monthly bonus categories overlap). Plus, none of the cards charge annual fees, so annual fees aren't an issue.
Here's what you need to know to decide whether Discover it® Cash Back or Chase Freedom Flex℠ is right for your wallet.
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We focus here on the rewards and benefits that come with each card. The card won't qualify if you pay interest or have late fees. When using a credit card, it's important to pay the balance in full each month, make payments on time, and only spend what you can afford.
Recommended credit score. Keep in mind that credit card lenders may use several different credit score models when considering your application.
Our editorial ratings analyze fees, bonuses, rewards, and benefits to highlight the easiest and most valuable credit cards available.
From January 1 to March 31, 2023, you can earn 5% cash back at grocery stores, drugstores and select streaming services on up to $1,500 in purchases after signing up, then 1%
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If the quarter type doesn't suit you, you can earn more money with a different card
If you want to earn fast rewards without meeting minimum spending requirements, Chase Freedom Flex℠ is the best option, with a $200 welcome bonus after spending $500 on purchases in the first three months of account opening. Although marketed as a cash back card, the Chase Freedom Flex℠ earns rewards in the form of Chase Ultimate Rewards points, so $200 in rewards is 20,000 points (less).
Discover it® Cash Back does not come with a standard welcome bonus. However, through its Cashback Match program, Discover will match all cash back at the end of the first year. While you'll get a bonus up front, the Cashback Match program can be very lucrative depending on how much you use the card.
For example, if, in the first year, you receive $500 in cash back on Discover it® Cash Back regular spending, Discover can match the amount to $1,000 when you return in the first year.
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On the surface, both SIMs look the same. Discover it® Cash Back offers 5% back up to $1,500 in combined revolving category spending (1% back) after you activate the bonus (from April 1 to June 30, 2023, you can earn 5% cash back at restaurants and Grocery Club up. to $1,500 in purchases after registration, then 1%). All other purchases earn 1%.
Discover is used to make it easy to set up a credit card rewards plan because it will open up the types of cash back in the next year. However, starting in December 2022, Discover will only open a quarter of its categories. For example, we already know that in Q1 2023 (January to March), Discover's revolving categories are grocery stores, drug stores, and selected distribution services - but none of the following quarters have been released.
Chase Freedom Flex℠ (and the legacy Chase Freedom®, which is not available to new applicants) 5x the same calendar because Chase only releases new bonus categories a few weeks before the start of a new quarter. For example, in Q1 2023 (January through March), the Chase Freedom Flex℠ bonus categories are grocery stores, Target, and fitness/gym group memberships.
After activating the bonus, Chase Freedom Flex℠ cardholders can earn 5% back (5 points) on up to $1,500 in combined spending each quarter (1x). However, there are other types of rewards offered by Chase Freedom Flex℠ that stay the same throughout the year — and none of them are set in stone:
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If you spend a lot of time at restaurants and drugstores, earning 3x points on purchases with Chase Freedom Flex℠ can add up quickly — and you'll be even better off booking your flights, hotels, and rental cars through the Chase portal. to earn 5x points. That's why Chase Freedom Flex℠ has an advantage over Discover it® Cash Back, which earns just 1% on everything (except monthly categories, up to a limit).
Discover it® Cash Back is a cash back only card, and your redemption options are simple. The cardholder can pay a refund, in any case, for:
It's not as easy with Chase Freedom Flex℠, but it's a good idea if you need more ways to spend your points. As mentioned, the card earns rewards in the form of Chase Ultimate Reward points, which can be redeemed for cash back at the rate of 1 cent. But you have this option to release:
Chase Freedom Flex℠ is valuable if you have other Chase cards in savings, as you can combine points between your accounts. For example, if you have a Chase Sapphire Preferred®, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, you'll be able to transfer points to Chase airline and hotel partners. You'll have more ways to redeem your points with Chase's Pay Yourself Back program, and when you book travel through the Chase Travel Portal, your points are worth more.
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In fact, combining your Freedom card with one of the Chase travel cards mentioned above is one of the best ways to increase your Chase Ultimate Reward Points value and increase your earnings.
Chase Ultimate Rewards points are worth about 1.8 cents each, based on Insider's estimated points and miles—
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