Chase Freedom Flex®
vs. Bank of America® Unlimited Cash Rewards Credit Card

Updated: June 25, 2024

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Both the Chase Freedom Flex® Card and the Bank of America® Unlimited Cash Rewards Credit Card offer enticing cash back rewards and no annual fees, making them strong contenders for your wallet. In this head-to-head, the BofA Unlimited Cash edges out with a slightly higher cash back score, thanks to its straightforward 1.5% cash back on every purchase and a generous $200 welcome bonus.

But the Freedom Flex shouldn't be overlooked, especially if you can maximize its rotating 5% cash back categories and its rewards on travel and dining. Your choice may come down to a preference for simplicity or the potential for higher rewards in targeted spending areas.

Credit Card logo for Chase Freedom Flex®
Chase Freedom Flex®
Credit Card logo for Bank of America® Unlimited Cash Rewards Credit Card
Bank of America® Unlimited Cash Rewards Credit Card
MoneyGeek Rating
3.7/ of 5
MoneyGeek Rating
3.7/ of 5

  • Regular APR
    20.49–29.24% variable
    19.24%–29.24% variable
    0% APR Offer
    0% intro APR for 15 months
    0% for 15 billing cycles on purchases
    Intro Offer
    Earn a $200 bonus
    Earn $200 cash back
    Rewards Summary
    Earn 1– 5% cash back
    Earn 1.5% cash back
    Balance Transfer Offer
    0% intro APR for 15 months
    0% for 15 billing cycles on balance transfers
    Balance Transfer Fee
    3% of the amount of each transfer (minimum $5)
    3% for the first 60 days, then 4%
    Annual Fee
    $0
    $0
    Recommended Credit
    670–850 (Good to Excellent)
    670–850 (Good to Excellent)
    Penalty APR
    Up to 29.99% (variable)
    Up to 29.99% variable APR
    Not sure?

Which Card Is Better for You?

You might prefer the Freedom Flex if you're a savvy spender who tracks category spending and can maximize the 5% cash back on rotating quarterly categories. The card's bonus categories can yield significant rewards for strategic spenders, especially with the added bonus of a lower spending requirement to earn the welcome offer.

You might prefer the BofA Unlimited Cash if you value simplicity and consistent rewards across all purchases. With a flat 1.5% cash back on every purchase and no need to track spending categories, this card offers straightforward value and ease of use, which can be a deciding factor for many users.

Head-to-Head Comparison: Card Details and Features

Evaluating features like APRs, fees, credit requirements, rewards and introductory offers will clarify which card is for you. For instance, if you dine out frequently, the Freedom Flex's higher cash back on dining could sway your choice, while the BoFa Unlimited Cash offers simplicity with a flat cash back rate on all purchases.

    discount icon

    Regular APR: BofA Unlimited Cash

    The BofA Unlimited Cash offers a more favorable regular APR range starting at 18.24%, compared with the Freedom Flex's range starting at 20.49%.

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    Annual Fee: Tie

    Both the Freedom Flex and the BofA Unlimited Cash have no annual fee.

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    Introductory 0% APRs: Tie

    Both the Freedom Flex and the BofA Unlimited Cash offer a 0% introductory APR on purchases and balance transfers for 15 months. However, the Freedom Flex has a consistent balance transfer fee of 3% (minimum $5), while the BofA Unlimited Cash has a 3% fee that increases to 4% after the first 60 days.

    coins icon

    Rewards: Freedom Flex

    The Freedom Flex is better for rewards, offering 5% cash back on rotating categories each quarter (up to $1,500 in purchases upon activation), 5% on travel purchased through Chase Ultimate Rewards, 3% on dining and drugstore purchases and 1% on all other purchases.

    By contrast, the BofA Unlimited Cash offers a flat 1.5% cash back on all purchases. The Freedom Flex's diverse rewards structure can provide more value for varied spending.

    rewards icon

    Welcome Offers: Freedom Flex

    The Freedom Flex offers a better welcome bonus, providing a $200 bonus with a lower spending requirement of $500 in the first three months, compared with the BofA Unlimited Cash’s similar $200 cash back offer but with a higher $1,000 spending requirement in the same period.

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    Recommended Credit Score: Tie

    Both the Freedom Flex and the BofA Unlimited Cash require a credit score range of 670 to 850, indicating they are accessible if you have good to excellent credit.

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    Penalties and Fees: BofA Unlimited Cash

    For penalties and fees, the BofA Unlimited Cash is slightly better due to its lower cash advance fee of 3% compared with the Freedom Flex’s 5%. Both cards have similar late fees and penalty APRs.

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    Issuer Satisfaction: BofA Unlimited Cash

    The Bank of America leads with an issuer satisfaction rating of 4.5, compared with the Freedom Flex's 4.1.

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    Other Features & Perks: Tie

    Both the Freedom Flex and the BofA Unlimited Cash offer unique perks. The Freedom Flex provides access to rotating cash back categories and enhanced rewards on travel and dining. The BofA Unlimited Cash Rewards card offers a straightforward cash back rate on all purchases and benefits for Preferred Rewards members. Both cards feature contactless payment options.

Rewards Comparison

The Freedom Flex stands out if you can maximize its rotating 5% cash back categories and spend on dining, travel through Chase, and drugstore purchases. But the BofA Unlimited Cash card's flat 1.5% cash back on all purchases can be appealing for its simplicity and consistency, especially if you prefer not to track category bonuses.

Although the Freedom Flex card may offer more potential rewards, the Bofa Unlimited Cash card ensures a steady reward rate across the board, without the need to activate or track rotating categories.

The table of bonus categories will help you compare the rewards programs of both cards at a glance.

Category
Freedom Flex
BofA Unlimited Cash

Travel

5% if purchased through portal

1.5%

Rotating Categories

5% on up to $1,500 in combined purchases each quarter

N/A

Dining

3%

1.5%

Drugstores

3%

1.5%

All Other Purchases

1%

1.5%

Redeeming Rewards

With the BofA Unlimited Cash, you can redeem your cash back as a statement credit, direct deposit or credit to eligible Merrill accounts, without worrying about expiration as long as your account is active. The Freedom Flex also offers diverse redemption choices, including cash, gift cards and travel, and your points remain valid indefinitely with an open account.

Methodology

MoneyGeek evaluates credit cards like the Freedom Flex and BofA Unlimited Cash using a tailored scoring system for various use cases. This approach ensures that the score reflects the card's performance in the scenario where it provides the 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. For a detailed understanding of our process, you can review our ranking methodology.

FAQ: Freedom Flex vs. BofA Unlimited Cash

What are the cash back rewards for each card?
Do either of the cards have an annual fee?
Can I benefit from a 0% introductory APR with these cards?
Are there any bonus categories for earning rewards?
What credit score is required for each card?

About Doug Milnes, CFA


Doug Milnes, CFA headshot

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.


*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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