If you’re in the market for a rewards credit card, you’re in the right place. Both the Chase Freedom Flex℠ (Review) and the Capital One Venture Rewards Credit Card (Review) are viable options to fill that void.

The Freedom Flex boasts a lucrative rewards program that covers a wide variety of spending. The Venture Rewards card has an emphasis on travel with travel-centric perks and rewards. Both cards present reward transfer opportunities to increase the value of your points or miles.

They have different benefits, features, and fees, so it’s important to see which one best suits your lifestyle. Let’s dive into these two cards in greater detail, and find out why you might choose one over the other.

What Separates the Freedom Flex and the Venture Rewards Card?

  • They have very different reward programs. The Venture Rewards earns a flat rate for every purchase, while the Freedom Flex offers static 5% and 3% bonus categories plus 5% categories that rotate quarterly.
  • The Venture Rewards card carries an annual fee ($95), the Freedom Flex doesn’t.
  • The Freedom Flex features a 0% intro APR for purchases.
    • Purchase APR: 0% for 15 months, then 14.99% – 23.74% Variable
  • The Venture Rewards is designed primarily to be a travel card. However, because of its flat rate, it’s a good choice for making all kinds of purchases.
  • The Freedom Flex touches on a bit of everything without focusing on a particular type of spending, like travel, which also makes it a good choice for all kinds of purchases.

The Freedom Flex tries to do a lot, and it does plenty successfully. It earns a great reward rate for a variety of purchases and gives you a small taste of everything. However, it doesn’t do any one thing as good as a card that’s designed for that particular purpose (aside from earning rewards).

For example, the Freedom Flex comes with a handful of travel protection and earns 5% cash back for travel booked with Chase Ultimate Rewards. But it isn’t as effective as a card where the main focus is travel, like the Chase Sapphire Preferred® Card (Review), which offers a slew of protections and has a strong focus on point transfers to partner hotels and airlines.

That said, the lack of an annual fee still makes the Freedom Flex a viable option for the occasional traveler, and the 5% cash back offered for travel is very hard to beat for a no annual fee card.

The Venture Rewards card is focused on travel. It has no foreign transaction fee, and you’ll need to redeem for travel expenses to ensure the best value. It also includes more benefits geared toward making travel easier, including a Global Entry/TSA PreCheck application fee credit.

The Freedom Flex’s benefits include a DoorDash membership for dining out, a ShopRunner membership for faster shipping with some retailers, and Lyft and Fandango credits, to name a few. So again, it touches on everything rather than focusing on one type of spending.

Both cards are good choices for people who don’t track their spending, as they both earn on a ton of different kinds of purchases. They’re good picks if you’re not interested in having too many credit cards.

Chase Freedom Flex℠

The information related to Chase Freedom Flex℠ has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

The Rewards

Chase Freedom Flex℠

Spending Rewards
  • 5% cash back on:
    • Travel purchased through Chase Ultimate Rewards
    • Lyft rides (through March 2022)
    • Grocery store purchases (not including Target or Walmart) up to $12,000 spent in the first year
  • 5% cash back in rotating categories, up to $1,500 spent per quarter, then 1%
  • 1% cash back on all other purchases
Introductory Bonus
  • $200 bonus for spending $500 in the first 3 months

Capital One Venture Rewards Credit Card

Spending Rewards
  • 2X miles per dollar on all purchases
Introductory Bonus
  • 60,000 bonus miles for spending $3,000 in the first 3 months

As I’m sure you can tell, the two cards have very different reward programs. The Freedom Flex covers a wide variety of purchases, some that rotate every three months. It has higher reward rates, but more to keep track of.

While both cards earn rewards for every purchase, the appeal of the Venture is its higher flat rate for non-category spending. That, and it’s easier to manage, despite offering a lesser rate than most of the Freedom Flex categories.

How Much Would You Earn?

One of the most important features of a credit card is its earning potential. As previously stated, both of these cards have vastly different reward programs, so it’s important to consider which one would best suit your lifestyle.

Below, we run through some examples of yearly spending. Keep in mind that the Freedom Flex will earn a higher rate (5%) for three months out of the year for certain spending, like at grocery stores, and then 1% for the remaining nine months. That said, a few categories have been known to repeat, earning 5% cash back for six months rather than three.

The normal redemption columns in the tables below are what you’d see when redeeming through normal methods, for 1 cent per point. But by taking advantage of reward transfers for either card, you could increase the value of your points/miles to 2 cents or more, and that’s the value we used for the transfer redemption column. We recommend always looking for transfer opportunities that provide 2 cents per point or mile, or more.

Travel Spending
Card Annual Spending Normal Redemption Transfer Redemption
Venture Rewards (2X) $5,000 $100 $200
Freedom Flex (1%) $5,000 $50 $100
Freedom Flex (Chase Ultimate Rewards; 5%) $5,000 $250 $500

As you can see, if you were able to book all of your travel through Chase Ultimate Rewards with the Freedom Flex, it would earn significantly more rewards than the Venture card. However, booking all travel with one service is unlikely, as most travelers know shopping around for different rates is more viable. But, even if you book some travel with the service, you’d be well-rewarded.

Grocery Spending
Card Annual Spending Normal Redemption Transfer Redemption
Venture Rewards (2X) $5,000 $100 $200
Freedom Flex (5% for 3 months, then 1%) $5,000 $100 $200

Here’s an instance of how strong the revolving rewards category for the Freedom Flex is. Just by earning 5% cash back for three months, it catches up to the Venture.

Restaurant Spending
Card Annual Spending Normal Redemption Transfer Redemption
Venture Rewards (2X) $3,000 $60 $120
Freedom Flex (3%) $3,000 $90 $180


Total Annual Spending
Card Annual Spending Annual Normal Redemption Annual Transfer Redemption
Venture Rewards $13,000 $165 $330
Freedom Flex $13,000 $240 $480
Freedom Flex (Chase Ultimate Rewards travel) $13,000 $440 $880

The total rewards take into account the Venture Rewards card’s annual fee ($95), which makes an otherwise rewarding card slightly less so. But there is the Global Entry/TSA PreCheck application fee credit that helps move the needle the other way.

When redeeming by normal means (either for past travel expenses with the Venture or for statement credits with the Freedom Flex) the Freedom Flex will be more rewarding. Even more so if you’re able to book travel through Chase Ultimate Rewards. The lack of an annual fee for the Freedom Flex puts it ahead of the Venture in terms of earning potential.

By taking the extra step to transfer rewards to the credit card issuer’s travel partners, you could double your return (or better). Point/mile transfers help save money when traveling by funding the hotel or flight. While it may not always be feasible to use your rewards to travel, especially with the Freedom Flex, doing so when able would greatly boost your earnings.

Reward Transfers

Chase Freedom Flex℠

While redeeming for bank deposits or statement credits is all well and good (at 1 cent per point), it wouldn’t give you the highest possible return. But you’d need another card in the Ultimate Rewards family to get the most value.

First, you’d have to transfer your Ultimate Rewards points from the Freedom Flex to one of those other cards, and then you could transfer the points to any of Chase’s travel partners at a 1:1 rate. Learn all about using Chase Ultimate Rewards cards together.

Capital One Venture Rewards Credit Card

Redeeming for past travel expenses will ensure you get 1 cent per mile. However, you can get an even better per-mile value by transferring to Capital One’s travel partners. Most partners offer transfer rates of 2:1.5 (2 Capital One miles to 1.5 partner miles), so they aren’t as good as Chase’s partners, but in this case you only need the Venture for transfers.

You have fewer options with the Venture than the Freedom Flex. With the Venture, you have to redeem for travel, otherwise you won’t get the best value for your rewards. With the Freedom Flex, you could keep it simple and stick with deposits or statement credits, or you can transfer out your points to find a better value.

That means the Venture should only be considered by travelers, whereas the Freedom Flex is better suited to people who like an easy redemption system with some flexibility.

How Do Their Terms and Benefits Look?

Lastly, let’s take a look at how some of the terms and benefits differ. For one, the Freedom Flex offers an intro 0% APR for purchases. 0% APRs are great for avoiding interest charges on substantial expenditures, like appliances or vacations. It’ll give a certain amount of time (in this case, 15 months) to pay off the balance before interest starts accruing.

The Venture doesn’t have that option, so if you have an expensive buy on the horizon, the Freedom Flex would suit you better.

They’re also separated by their benefits. Not necessarily in quality, but by the type of person who would get the most from each. The Venture Rewards card has more travel perks, including a Global Entry/TSA PreCheck application fee credit, the Visa Signature Hotel Collection, and Visa Signature Concierge.

The Freedom Flex offers a more varied benefits package. It features a DoorDash membership, Lyft credits, a Fandango discount, a ShopRunner membership, Cell Phone Protection, and a few travel protections. So it’s more suited to people who do a bit of everything.

You can see the complete list of benefits for both cards below.

Quick Guide

Freedom Flex and Venture Rewards Card Benefits

Chase Freedom Flex℠

  • Complimentary DoorDash membership: You’ll get three free months of DashPass, DoorDash’s subscription service (learn more about Chase DoorDash benefits). You’ll pay $0 in delivery fees for orders over $12, and get reduced service fees. Once those three months are up, you can reenroll for 50% off.
  • Shop through Chase: Cardholders can get more cash back at select retailers with the Shop through Chase marketplace. You’ll find deals that come and go over time, which let you earn a good reward rate outside the bonus categories.
  • Chase Offers: Browse and activate special offers from a selection of retailers on the Chase app.
  • ShopRunner membership: Get free two-day shipping at a wide selection of retailers.
  • Lyft credits: Once per month you can earn a $10 Lyft credit for every five rides you take.
  • Boxed rewards: You’ll earn 5% cash back rewards on Boxed Wholesale orders to be used for future purchases.
  • Fandango discount: You’ll get $5 off every two tickets you buy.
  • Chase Credit Journey: You can check your VantageScore 3.0, based on your TransUnion credit report. Everyone is able to use this tool however, not only Chase cardholders.
  • Cell Phone Protection: Your phone is covered against damage and theft when you pay the bill with your card, up to $800 per claim and $1,000 per year.
  • Extended Warranty: Buy a product with your card, and an eligible manufacturer’s warranty will be extended for an additional year.
  • Purchase Protection: Your new purchases are covered for 120 days against damage and theft, up to $500 per claim and $50,000 per account.
  • Auto Rental Collision Damage Waiver: Decline the rental car provider’s insurance offer and charge the whole amount to your card, and your rental car will be covered against damage and theft. This is secondary to your personal insurance.
  • Trip Cancellation/Interruption Insurance: If your trip is delayed or interrupted by eligible conditions, such as sickness or weather, you could be reimbursed by up to $1,500 per person and $6,000 per trip.
  • Travel and Emergency Assistance Services: If you’re in need of legal or health assistance, or are having other travel emergencies, call your Benefit Administrator.

Capital One Venture Rewards Credit Card

  • Luxury Hotel Collection (Visa Signature only): The Luxury Hotel Collection provides special perks at select hotels around the world.
  • TSA PreCheck/Global Entry statement credit: If you pay for the application for Global Entry ($100) or TSA Pre✓ ($85) with your card you’ll receive a statement credit for the fee, once every five years. These programs provide expedited screening at certain airports.
  • Shopping discounts (Visa Signature only): Use your Visa Signature card to get discounts at certain retailers. There are usually a few dozen offers available here, for both online and physical stores.
  • Visa Concierge (Visa Signature only): You can call your Visa concierge service any time at 1-800-953-7392. They’re ready to help with a wide variety of non-emergency tasks, very much like a personal assistant.
  • CreditWise credit monitoring: Keep tabs on your VantageScore 3.0 based on your TransUnion credit report, and see data from your TransUnion report.
  • Travel and Emergency Assistance Services: A variety of services like medical and legal referrals, emergency transportation or ticket replacement, and pre-trip assistance
  • Roadside Dispatch: Call 1-800-847-2869 for help while driving, for services like towing, tire changing, and fuel delivery.
  • Auto Rental Insurance: Provides coverage for collision damage and theft of eligible rented vehicles, when you decline the rental company’s own insurance
  • Lost Luggage Reimbursement: Provides up to $3,000 in reimbursement to cover the cost of lost or damaged luggage
  • Purchase Security: If an eligible item you buy is lost or damaged, you can be reimbursed up to $500 per claim.
  • Warranty Manager Service: Monitor product warranties, and register to double an eligible manufacturer’s warranty up to one additional year, for warranties of three years or less.
  • Capital One Second Look Fraud Coverage: Automatically monitors your account 24/7 for fraudulent activity

Which One Should You Get?

If you’re a traveler, the Venture Rewards card is the one to choose. It offers more for people who’re on the road often, and really is designed with them in mind. You get the best value by transferring miles to travel partners, can be reimbursed for either the Global Entry or TSA PreCheck application fee, and get a few more travel-centric perks.

The Freedom Flex, on the other hand, is better for people who like an all-in-one type of card. It touches on travel, dining, and general spending, whilst also offering a wide variety of perks.

The Freedom Flex could easily be the more lucrative choice. If you’re able to take advantage of all of its bonus categories, its earning power outweighs the Venture. However, the Venture does earn 2X miles for purchases the Freedom Flex earns 1% cash back for.

If you already have another Ultimate Rewards card, like the Chase Sapphire Preferred® Card (Review), the Freedom Flex is definitely the one for you.

Or, you could consider getting both. Use the Venture for the purchases that the Freedom Flex would only earn 1% for. That way, not only will you have a solid travel card for when you’re away from home, but you’ll have a great rewards card for everything else.

But maybe you’re not a fan of either card? If that’s the case, consider these alternatives.

Freedom Flex Alternatives

  • Blue Cash Preferred® Card from American Express (Review): Provides one of the best cash back rewards rates available at U.S. supermarkets (6%, up to $6,000 spent per year, then 1%) and for select U.S. streaming services. It has an annual fee ($0 introductory annual fee for the first year, then $95) but it provides enough rewards to cover it, and then some. (Rates & Fees)

American Express is a Credit Card Insider advertiser.

  • Discover it® Cash Back (Review): This card is pretty similar to the Freedom Flex. It provides 5% cash back in rotating categories (up to $1,500 spent per quarter, then 1%; activation required), but doesn’t have any static categories. As a nice touch, Discover will double the rewards for the first year.
Discover it® Cash Back

Venture Rewards Card Alternatives

The information related to Capital One VentureOne Rewards Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

  • Chase Sapphire Preferred® Card (Review): One of the most popular travel cards, it provides solid rewards, a 1:1 transfer rate to Chase’s travel partners, and an impressive selection of travel protections.
  • Hilton Honors American Express Surpass® Card (Review): If you love to travel and stay with Hilton when you do, this credit card offers strong rewards at Hilton properties and features perks like a free annual weekend stay, complimentary Hilton Honors Gold status, and more.

American Express is a Credit Card Insider advertiser.

The information related to Hilton Honors American Express Surpass® Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

The information related to Chase Freedom Flex℠ has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

See how the Freedom Flex stacks up to another popular rewards card.
2021 Comparison: Chase Freedom Flex℠ vs. Bank of America® Customized Cash Rewards Card

For rates and fees of the Hilton Honors American Express Surpass® Card, please click here.

For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.

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