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Chase Freedom Flex℠ vs. Bank of America® Customized Cash Rewards

Choose between a rotating-bonus-category card or a tiered-rewards card.

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%. The Bank of America card also comes with an intro APR on balance transfers, which could help you save some money before you start your reward journey.

Which card wins?

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.

Chase Freedom Flex℠

Chase Freedom Flex℠

Terms apply, see rates & fees

Bank of America® Customized Cash Rewards

Bank of America® Customized Cash Rewards

Terms apply, see rates & fees

Finder rating
Finder rating

★★★★★

4.7 / 5.0

★★★★★

4.6 / 5.0
Best for
Best for
  • Long intro APR period and cash back in rotating categories
  • Best for flexibility of cashback categories
Welcome offer
Welcome offer

$200 after spending $500 in the first 3 months, plus 5% cash back at grocery stores (not including Target® or Walmart®) on up to $12,000 in the first year

$200 after spending $1,000 in the first 90 days

Rewards
Rewards

5% cash back on up to $1,500 combined in quarterly categories you activate, 5% on Chase travel purchased through Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases

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

Purchase APR
Purchase APR

0% intro APR for 15 months, and then 14.99% to 23.74% variable

0% intro APR for 15 billing cycles, and then 13.99% to 23.99% variable

Annual fee
Annual fee $0 $0
Balance transfer APR
Balance transfer APR 14.99% to 23.74% variable

0% intro APR for 15 statement closing dates, then 13.99% to 23.99% variable

Cash advance
Cash advance

APR: 24.99% variable

Fee: $10 or 5% of the transaction, whichever is greater

APR: 16.99% to 26.99% variable

Fee: $10 or 5% of the transaction, whichever is greater

Foreign transaction fee
Foreign transaction fee 3% of each transaction 3% of each transaction
Late payment fee
Late payment fee Up to $39 Up to $40
Additional cardholder fee
Additional cardholder fee $0 $0
Interest-free period
Interest-free period 21 days 25 days
Minimum interest
Minimum interest $0 $1.50
Minimum credit score
Minimum credit score 670 670
Card type
Card type Credit Credit
Learn more
Learn more

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