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The Chase Freedom Flex vs The Capital One® Venture® Rewards Credit Card

6 min read
By Brendan Harkness Jul 13, 2016 | Updated Sep 15, 2020

The Chase Freedom Flex℠ (Review) and the Capital One Venture Rewards Credit Card (Review) are both popular rewards credit cards, but the rewards they offer are very different.

The Freedom Flex card offers a set of 5% cash back categories that change throughout the year, plus more, while the Venture Rewards is a travel card, providing airline miles for every dollar spent.

Both of these cards can be pretty valuable, but you’ll want to use them in different ways. Read on to see if one of them might be right for your wallet.

Chase Freedom Flex℠

Min. credit levelGood
Details
Annual Fee$0
Regular APR14.99% - 23.74% Variable

Capital One Venture Rewards Credit Card

Our rating
Min. credit levelGood
Details
Annual Fee$95
Regular APR17.24% - 24.49% (Variable)

The information related to Capital One Venture 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.

The Rewards

Chase Freedom Flex

  • 5% cash back on:
    • Travel purchased through Chase Ultimate Rewards
    • Lyft rides (through March 2022)
    • Grocery store purchases (not including Target or Walmart purchases; up to $12,000 spent in the first year)
  • 5% cash back in rotating categories, up to $1,500 in spending each quarter, then 1%
  • 3% cash back at:
    • Restaurants
    • Drugstores
  • 1% cash back on all other purchases
  • $200 bonus for spending $500 in the first 3 months
  • Extra discounts and deals through the Chase Ultimate Rewards shopping portal

Here are the current and recent 5% cash back bonus categories:

Quarter 2019 Categories 2020 Categories
January – March
  • Gas Stations
  • Tolls
  • Drugstores
  • Gas Stations
  • Streaming Services
  • Internet, Cable, Phone Services
April – June
  • Grocery Stores
  • Home Improvement Stores
  • Grocery Stores
  • Streaming Services
  • Fitness Club & Gym Memberships
July – September
  • Gas Stations
  • Streaming Services
  • Amazon
  • Whole Foods Market
October – December
  • Department Stores
  • PayPal
  • Chase Pay
  • Walmart
  • PayPal

Take note that you’ll need to log in to your account online to activate your 5% rewards categories (except for the Lyft category).

Capital One Venture Rewards

  • 2X miles per dollar on all purchases
  • 100,000 bonus miles for spending $20,000 in the first 12 months from account opening, or still earn 50,000 miles for spending $3,000 in the first 3 months

The Verdict

As you can see, the Venture Rewards card is much simpler, without the rotating categories of the Freedom Flex card.

The right card for you will depend on your spending habits. Do you make a lot of purchases that fit into the Freedom Flex card’s 5% cash back categories? Or do you travel often, meaning you could use the 2 miles for every purchase to pay for travel expenses?

These are two different types of cards, one for earning cash back on a variety of purchases and the other to help pay for travel, so keep in mind that you’ll get the most out of them if you use them as they were intended.

You could even use these cards in combination: use the Freedom Flex card whenever you can make purchases eligible for the 5% or 3% cash back, and use the Venture Rewards card for every other purchase. Having several credit cards isn’t bad for your credit; learn more about using multiple credit cards.

The Benefits

These cards offer some of the same additional benefits. Here are a few of the best that each card offers.

Chase Freedom Flex Card

Dining

  • DoorDash Membership

    A free DoorDash membership (DashPass) for three months, and then a 50% discount for the next nine months; DashPass provides free delivery and reduced service fees on orders over $12.

Shopping

  • Purchase Protection

    Purchases are covered for 120 days against theft or damage, up to $500 per claim and $50,000 per account.

  • Extended Warranty Protection

    Eligible warranties of 3 years or less can be extended by up to an additional year.

Travel

  • Travel and Emergency Assistance Services

    Provides a number of emergency services, 24/7.  Services include sending emergency messages, providing medical and legal referrals, ticket and document location, and translation services.

  • Trip Cancellation/Trip Interruption Insurance

    You will be reimbursed up to $1,500 per person and $6,000 per trip for your pre-paid, non-refundable passenger fares, if your trip is canceled or cut short by sickness, severe weather and other covered situations.

  • Auto Rental Collision Damage Waiver

    Collision and theft damage is covered on most cars in the U.S. and abroad, provided that the cardholder purchases the rental with their card and declines the rental company’s collision insurance. Personal insurance takes precedence over the coverage provided through the Auto Rental Collision Damage Waiver.

Capital One Venture Rewards

Perks

  • Visa Signature Concierge Service

    A 24/7 personal assistant to help in a variety of non-emergency tasks.

  • Personalized Payment

    Pick your monthly due date.

  • Luxury Hotels

    Get benefits at over 900 hotel properties.

  • Fine Wine & Food

    Special dining and wine experiences.

  • Sports Experiences

    Access to popular sporting events and premiere golf benefits at Pebble Beach Resorts®.

  • Shopping Discounts

    Discounts and special offers at premium retailers, from jewelry to apparel and electronics.

Shopping

  • Purchase Protection

    Provides coverage against lost or stolen items within 90 days from the date of purchase.

  • Extended Warranty Protection

    Extends a manufacturer’s warranty at no charge for up to 1 year on warranties of 3 years or less.

Travel

  • Travel Assistance Services

    Provides help with travel emergencies, including emergency card replacement or cash advances.

  • Travel Accident Insurance

    Covers you and your family in the case of physical accidents.

  • Roadside Assistance Hotline

    Assistance with services such as towing, changing a flat, or boosting a battery in case of emergency.

  • Auto Rental Collision Damage Waiver

    Provides coverage against theft and collision, as long as the car rental company’s own insurance is declined.

  • Lost Luggage Reimbursement

    If checked or carry-on bags are lost or damaged, provides reimbursement up to $3,000 per passenger.

The Verdict

Here, you can see that the Venture Rewards card offers a better set of benefits.

They both contain some solid mainstays of typical credit card benefits (purchase protection, auto rental coverage, etc.) but the Venture Rewards also offers the Visa Signature Concierge service, which can come in very valuable when you’re pressed for time, having trouble making arrangements, or can’t find what you need.

The extra perks like invitations to interesting events, discounts on travel and dining, and access to special experiences make the Venture card a real winner in this section.

Here’s a side-by-side comparison of the benefits offered by each card:

Chase Freedom Flex Capital One Venture Rewards

Perks

  • Visa Signature Concierge
  • Personalized Payment
  • Luxury Hotels
  • Movie Discounts
  • Fine Wine & Food
  • Sports Experiences
  • Shopping Discounts

Account

  • Account Alerts
  • Mobile & Tablet Apps
  • Financial Tools and Tips
  • Capital One WalletSM
  • Capital One Credit Wise
  • Capital One Second LookSM

Security

  • Zero Liability Protection
  • Cell Phone Protection
  •  Zero Liability Protection

Shopping

  • Purchase Protection
  • Extended Warranty Protection
  • Purchase Protection
  • Extended Warranty Protection

Travel

  • Travel and Emergency Assistance
  • Trip Cancellation / Trip Interruption Insurance
  • Trip Delay Reimbursement
  • Auto Rental Collision Damage Waiver
  • Travel Assistance Services
  • Travel Accident Insurance
  • Roadside Assistance Hotline
  • Auto Rental Collision Damage Waiver
  • Lost Luggage Reimbursement

The Costs & Fees

Card Annual Fee Purchase APR Balance Transfer APR Cash Advance APR Foreign Transaction Fee
Freedom Flex $0 0% Intro APR on Purchases for 15 months, then 14.99% - 23.74% Variable 14.99% - 23.74% Variable 24.99% Variable 3% of each transaction in U.S. dollars
Venture Rewards $95 17.24% - 24.49% (Variable) 17.24% - 24.49% (Variable) 24.49% (Variable) None
Card Penalty APR Late Fee Returned Payment Fee
Freedom Flex None See Terms See Terms
Venture Rewards None Up to $40 None

The Verdict

As you can see, these cards are similar in some ways, but there are also some important differences.

You’ll never have to worry about an annual fee with the Freedom Flex card, and the 15-month introductory interest rate can be great for making big-but-responsible purchases on a budget. The interest rates are about the same after the introductory period is over.

On the other hand, the Venture Rewards card has no foreign transaction fees, making it a contender if you need to travel outside the country.

The Bottom Line

The Chase Freedom Flex℠ (Review) and Capital One Venture Rewards Credit Card (Review) are both valuable rewards credit cards, and if you’re trying to pick between the two you should take a look at their rewards.

Think about your shopping habits. Do you spend a lot of money in the 3% and 5% categories of the Freedom Flex card? If you do, you stand to get a pretty sizable discount as you use the card throughout the year. If you don’t shop at those types of retailers often, the 1% on other purchases won’t be very valuable.

The Venture Rewards card is designed for people who travel somewhat frequently. If you do, you can end up getting some sizable discounts if you use your Venture Rewards card for most of the purchases you make, including travel expenses. The lack of a foreign transaction fee makes this a great card to bring out of the country, and remember to keep an eye on the many extra benefits so you can make use of them whenever possible (some of these could save you a nice chunk of cash in the right situation).

Or, if you travel often and are also looking for another credit card, consider using both cards. Just use the Freedom Flex card whenever you’ll get the 5% cash back, and use the Venture Rewards for every other purchase.

Want to apply for or learn more about one of these cards? Just click the card’s name below.

Chase Freedom Flex℠

Min. credit levelGood
Details
Annual Fee$0
Regular APR14.99% - 23.74% Variable

Capital One Venture Rewards Credit Card

Our rating
Min. credit levelGood
Details
Annual Fee$95
Regular APR17.24% - 24.49% (Variable)

The information related to Capital One Venture 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.

Not the cards for you? Click here to learn more about Reward Credit Cards and see our picks for the best cards!

If you use one of these credit cards, how do you like it? Leave your own review of the Chase Freedom Flex card or the Capital One Venture Rewards below, we’d love to hear from you!

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The information related to Capital One Venture 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.

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