Chase Freedom Flex℠
The Chase Freedom Flex℠ has no annual fee and valuable bonus categories, which makes it a good choice for almost anyone looking to earn cashback.
Rewards: The Chase Freedom Flex packs a punch when it comes to earning rewards. You’ll earn 5% cashback on up to $1,500 in categories that rotate quarterly (requires activation), 5% on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
Welcome Offer: $200 bonus after spending $500 on purchases in the first 3 months from account opening
Annual Fee: $0
Other Benefits and Drawbacks: In addition to the useful bonus categories, the Chase Freedom Flex offers purchase protection and extended warranty protection.
The Freedom Flex also offers some travel benefits including trip cancellation and interruption insurance, travel and emergency assistance services, and secondary auto rental collision damage coverage.
Finally, you’ll also get cell phone protection when you pay your cell phone bill with your Freedom Flex card. This coverage is limited to two claims of up to $800 per claim and $1,000 per year. A $50 deductible applies.
This card is a winner already, but it can be even better when paired with a Chase Sapphire Preferred® Card, Chase Sapphire Reserve® or Ink Business Preferred® Credit Card. That’s because you can transfer the points earned on your Freedom Flex to one of these premium cards where they can be redeemed for more value through Chase Ultimate Rewards or transferred at a 1:1 ratio to Chase’s airline and hotel partners including United and Hyatt.
Discover it® Cash Back
The best welcome bonus for a cash back card is also the most unique. The Discover it® Cash Back card will automatically match all of the cash back you’ve earned at the end of your first year, with no limits. Depending on your spending, this match can easily exceed the bonuses you can earn from other cards. Even after the first year, the Discover it® Cash Back, with it’s rotating bonus categories, offers solid rewards.
Rewards: 5% cash back on everyday purchases at different places each quarter up to a quarterly maximum of $1,500 in spending when activated. Plus, earn unlimited 1% cash back on all other purchases – automatically
Welcome Offer: Discover will automatically match all the cash back earned at the end of the first year as a cardmember. There’s no minimum spending or maximum rewards
Annual Fee: $0
Other Benefits and Drawbacks: The biggest downside to the Discover it® Cash Back is that you have to remember to activate your rewards for the bonus categories each quarter or you won’t earn the higher cash back rate. You can opt-in for Discover to remind you when the bonus categories are changing.
Discover’s bonus categories have typically been high-value spending areas such as groceries, Amazon.com purchases, gas stations and restaurants. Keep in mind that Discover has a more limited reach outside the U.S. than other card networks.
Discover does offer handy perks for customers. You can redeem your rewards for cash at any time, with no minimum value for redemption. You can use your rewards at Amazon.com checkout. You can also get free credit monitoring, freeze your account from the mobile app or website if you lose your card and get a free Credit Scorecard with your FICO Credit Score.
This card comes with a 0% introductory APR for 15 months on purchases and eligible balance transfers. Then, a standard rate of 11.99% – 22.99% variable applies. A balance transfer fee of up to 5% of the amount transferred applies, making it a cost-saving option if you have a big purchase coming up or want to consolidate high-interest debt.