Updated: November 18, 2024
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The Blue Cash Preferred® Card from American Express and the Chase Freedom Flex® Card Both offer compelling cash back rewards, making them top contenders if you’re looking to optimize their credit card benefits. The Blue Cash Preferred edges ahead with its higher cash back on supermarkets and streaming services, despite its annual fee after the first year.
But the Freedom Flex has a cash bonus for new cardholders and no annual fee, appealing if you value upfront rewards and cost savings.
You might prefer the Blue Cash Preferred if you spend a significant amount on groceries and streaming services. With 6% cash back at U.S. supermarkets on up to $6,000 per year and on select streaming subscriptions, this card offers substantial rewards in these categories. But consider the $95 annual fee after the first year when evaluating your potential earnings.
You might prefer the Freedom Flex if you value flexibility and want to avoid annual fees. With 5% cash back on rotating categories each quarter you activate and on travel purchased through Chase Travel℠, plus a longer 0% intro APR period on purchases and balance transfers, this card caters to a variety of spending habits and offers cost-saving opportunities.
Evaluating features like APRs, fees, credit requirements, rewards and introductory offers will guide you to the card that best fits. Assess how each card's benefits align with your spending habits, such as grocery shopping or travel, and consider the long-term costs like annual fees.
Regular APR: Blue Cash Preferred
The Blue Cash Preferred offers a lower starting APR with a range of 18.74% to 29.74% variable compared with the Freedom Flex's 20.49% to 29.24% variable.
Annual Fee: Freedom Flex
The Chase Freedom Flex Card has no annual fee — the Blue Cash Preferred which has a $0 intro annual fee for the first year, then $95.
Introductory 0% APRs: Freedom Flex
The Freedom Flex offers a better introductory 0% APR deal with a 15-month period for both purchases and balance transfers, compared with the 12-month period offered by the Blue Cash Preferred. Both cards have a balance transfer fee of 3% (minimum $5).
Rewards: Blue Cash Preferred
The Amex Blue Cash Preferred is better for rewards, offering 6% cash back at U.S. supermarkets (on up to $6,000 per year, then 1%) and on select U.S. streaming subscriptions. It also provides 3% back at U.S. gas stations and on transit. Rewards can be redeemed as a statement credit or at Amazon checkout.
By contrast, the Freedom Flex offers 5% back on rotating categories each quarter (on up to $1,500 in purchases) and on travel purchased through Chase, plus 3% on dining and drugstore purchases. Its rewards can be redeemed for cash, gift cards, travel, and more.
Welcome Offers: Freedom Flex
The Freedom Card offers a better welcome bonus, with a $200 bonus after spending $500 in the first three months, compared with the Amex Blue Cash Preferred's $250 bonus after spending $3,000 in six months. The Freedom Flex's offer has a higher return on investment and a lower spending requirement.
Recommended Credit Score: Tie
Both the Amex Blue Cash Preferred and the Freedom Flex require a credit score range of 670 to 850, indicating they are accessible if you have good to excellent credit.
Penalties and Fees: Blue Cash Preferred
The Blue Cash Preferred edges out slightly for penalties and fees, primarily due to its lower foreign transaction fee of 2.7% compared with the Freedom Flex's 3%. Both cards have similar late fees and penalty APRs.
Issuer Satisfaction: Blue Cash Preferred Card From American Express
American Express leads with a higher rating of 5.0, compared with Chase’s 4.1. This suggests that American Express may offer a better customer experience.
Other Features & Perks: Tie
Both cards offer unique perks. The Blue Cash Preferred provides up to $120 in annual statement credits for an Equinox+ subscription and a $7 monthly credit for the Disney Bundle. The Freedom Flex offers 5% cash back on travel through Chase Ultimate Rewards and 3% on dining. Perks value is subjective, making this a tie.
The Blue Cash Preferred leads with an impressive cash back rate on U.S. supermarkets and streaming services, making it a strong contender if you prioritize rewards in these categories. Its expected reward value is higher, and the 6% return on supermarket and streaming expenses is notable. But the card does come with a $95 annual fee after the first year, which should be weighed against the potential rewards earned.
The Freedom Flex offers 5% rotating categories and travel purchases through Chase Travel℠. The rotating categories can provide significant value depending on the quarter — until June, the categories are hotels, restaurants and Amazon.
The table details the bonus categories for both cards, allowing you to visually compare the cards and decide between them:
Category | Blue Cash Preferred | Freedom Flex |
|---|---|---|
U.S. Supermarkets | 6% for the first $6,000 annually/1% thereafter | 1% |
Rotating Categories | 1% | 5% on rotating categories (up to $1,500 per quarter, activation required) |
U.S. Streaming Subscriptions | 6% | 1% |
U.S. Gas Stations | 3% | 1% |
Transit | 3% | 1% |
Dining | 1% | 3% |
Drugstores | 1% | 5% (rotating) |
Travel | 1% | 5% if purchased through Chase Travel℠ |
All Other Purchases | 1% | 1% |
With the Blue Cash Preferred, you can apply your cash back directly as a statement credit or use it at Amazon checkout. Importantly, these rewards do not expire as long as your account remains in good standing.
The Freedom Flex card provides a broader range of redemption options, from cash back to travel and gift cards. You can also use points to pay for purchases directly with select merchants. Similar to the Amex card, your points remain valid indefinitely, provided your account is open and active. Note that the value you get per point can vary depending on the redemption option you choose.
MoneyGeek rates and reviews various credit cards like the Blue Cash Preferred and Freedom Flex based on their performance in various use cases. This approach ensures that the score reflects the card's performance in the scenario where it provides te most value.
For cash back cards, the primary factors we consider are the effective reward rate and the return on investment for offers. These elements — along with annual fees, introductory purchase rates and issuer satisfaction — contribute to a card's overall score.
The Blue Cash Preferred has a $95 annual fee after the first year, while the Freedom Flex has no annual fee.
The Freedom Flex offers 0% APR for 15 months, whereas the Blue Cash Preferred only offers it for 12 months.
The Blue Cash Preferred provides 6% back at U.S. supermarkets, while Freedom Flex offers 5% in rotating categories.
Yes, both cards offer cash back on dining. The Blue Cash Preferred gives 1% and the Freedom Flex offers 3%, possibly more depending on the rotating category.
The Blue Cash Preferred charges 2.7%, while the Freedom Flex has a 3% foreign transaction fee. Options for cards with no foreign transaction fee are available.
For rates and fees of the Blue Cash Preferred® Card From American Express, please click here.
All information about the Chase Freedom Flex has been collected independently by Moneygeek.com and has not been reviewed by the issuer.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
