While they’re both $0-annual-fee cards, but the Chase Freedom Flex℠ and Bank of America® Customized Cash Rewards differ substantially in their reward structure. Chase’s card offers 5% cash back in quarterly rotating categories upon activation — on up to $1,500 in combined purchases per quarter, then 1%. BofA’s card offers 3% to 3% cash back in various everyday categories on up to $2,500 in combined bonus purchases each quarter, then 1%.
It’s a little tough to compare these cards directly since their reward structures are quite different. Which you choose will ultimately come down to your spending habits. At the moment, the Chase card is a safer pick if you frequently shop at grocery stores since you can benefit from the 5% grocery category up to the cap during your first year. You also earn 5% back on Lyft rides until March 31, 2022. This is on top of the other 5% categories that rotate each quarter.
On the other hand, the Bank of America card may offer a long-term value because of its constant 3% cashback rate on select categories beyond the first year of card membership. But with the frequent reward program changes, there’s no guarantee that the long-term value will hold.
★★★★★ 4.7 / 5.0 | ★★★★★ 4.6 / 5.0 |
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$200 after spending $500 in the first 3 months | $200 after spending $1,000 in the first 90 days |
5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. | 3% cash back on a chosen category and 2% at grocery stores and wholesale clubs for the first $2,500 each quarter combined, then 1% after that and on everything else |
0% intro APR for 15 months, and then 17.99% to 26.74% variable | 0% intro APR for 18 billing cycles, and then 16.99% to 26.99% variable |
| $0 | $0 |
0% intro APR for 15 months (then 17.99% to 26.74%) $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days variable | 0% intro APR for 18 statement closing dates (then 16.99% to 26.99%) variable |
APR: 27.99% variable Fee: $10 or 5% of the transaction, whichever is greater | APR: 19.99% to 24.99% variable Fee: $10 or 5% of the transaction, whichever is greater |
| 3% of each transaction | 3% of each transaction |
| Up to $40 | Up to $40 |
| $0 | $0 |
| 21 days | 25 days |
| $0 | $1.50 |
| 670 | 670 |
| Credit | Credit |
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Steven Dashiell is Senior Writer, Personal Finance at Finder specializing in all things credit cards. With more than 300 articles under his belt, he aims to help readers embrace credit cards and maximize their rewards. Steve is studying to become a Certified Educator in Personal Finance, and is a frequent face on Finder’s YouTube channel, offering the latest in credit card hacks and advice. His expertise has been featured on numerous outlets, including U.S. News & World Report, NASDAQ, Time, CBS, Fox Business, Lifehacker, Martha Stewart Living and more.