Chase Sapphire Preferred vs Freedom Flex: Which Card Wins?
Choosing the right credit card can feel overwhelming, but it doesn’t have to be. Are you looking to earn rewards on your spending? Perhaps you’re after travel perks or cash back? This detailed comparison of the Chase Sapphire Preferred® Card and the Chase Freedom Flex℠ will help you decide which card best suits your financial goals.
The Chase Sapphire Preferred is a popular travel rewards card, known for its valuable points and travel benefits. It’s a great option for those who travel frequently and want to maximize their rewards on dining and travel purchases. However, the Freedom Flex offers a different approach, focusing on cash back rewards across various spending categories.
This comparison delves into the key features of both cards, including their rewards programs, annual fees, and other benefits. We’ll explore which card offers the best value for different spending habits and lifestyles. By the end, you’ll have a clear understanding of whether the Chase Sapphire Preferred or the Freedom Flex is the right choice for you.
Specs at a Glance
| Feature | Chase Sapphire Preferred | Chase Freedom Flex |
|---|---|---|
| Annual Fee | $95 | $0 |
| Rewards on Travel | 5x points on travel purchased through Chase Ultimate Rewards; 2x on all other travel | 5% cash back on travel purchased through Chase Ultimate Rewards |
| Rewards on Dining | 3x points | 5% cash back on rotating quarterly categories (e.g., gas stations, grocery stores) |
| Rewards on Groceries | 1x point | 3% cash back on dining and drugstores |
| Rewards on Other Purchases | 1x point | 1% cash back |
| Intro Bonus | Yes, typically a points bonus after spending a certain amount | Yes, typically a cash back bonus after spending a certain amount |
| Foreign Transaction Fees | None | None |
| APR | Variable, based on creditworthiness | Variable, based on creditworthiness |
| Purchase Protection | Yes | Yes |
| Trip Cancellation/Interruption Insurance | Yes | No |
| Card Design | Metal Card | Plastic Card |
| Credit Needed | Excellent to Good | Good to Excellent |
Feature-by-Feature Breakdown
Annual Fee
- Chase Sapphire Preferred: $95 annual fee. This fee provides access to a variety of travel and purchase protections, as well as the ability to earn bonus rewards on travel and dining. The fee can be offset if you frequently utilize the card’s benefits.
- Freedom Flex: $0 annual fee. This makes it an attractive option for those who want to avoid paying a yearly fee, while still earning rewards. The lack of an annual fee allows for greater flexibility.
- Winner: Freedom Flex
Rewards on Travel
- Chase Sapphire Preferred: Earns 5x points on travel purchased through Chase Ultimate Rewards, 2x points on all other travel purchases, and 3x points on dining. This is a strong earning rate for travel, offering significant value to frequent travelers.
- Freedom Flex: Earns 5% cash back on travel booked through Chase Ultimate Rewards. Offers rotating 5% cash back categories each quarter (on up to $1,500 in combined purchases).
- Winner: Chase Sapphire Preferred
Rewards on Dining
- Chase Sapphire Preferred: Earns 3x points on dining, making it a great card for those who dine out frequently. This category is broad, covering a wide range of restaurant types.
- Freedom Flex: Earns 3% cash back on dining. While this is a good rate, it doesn’t offer the same point potential as the Sapphire Preferred.
- Winner: Chase Sapphire Preferred
Rewards on Other Spending
- Chase Sapphire Preferred: Earns 1x point on all other purchases. While not as lucrative as category bonuses, it ensures you earn something on every purchase.
- Freedom Flex: Earns 1% cash back on all other purchases. Plus the rotating 5% cashback categories.
- Winner: Freedom Flex
Sign-Up Bonus
- Chase Sapphire Preferred: Offers a sign-up bonus, which can be a significant boost to your rewards earnings. The bonus is typically worth a substantial amount of travel or cash back, depending on how you redeem the points.
- Freedom Flex: Offers a sign-up bonus, which can be a valuable incentive to get the card. The bonus is typically lower than the Sapphire Preferred, but still represents a good value.
- Winner: Chase Sapphire Preferred
Travel Benefits & Protections
- Chase Sapphire Preferred: Includes travel benefits like trip cancellation/interruption insurance, baggage delay insurance, and auto rental collision damage waiver. These protections can save you money and provide peace of mind while traveling.
- Freedom Flex: Does not offer the same extensive travel protections. It is more focused on cash back rewards.
- Winner: Chase Sapphire Preferred
Purchase Benefits & Protections
- Chase Sapphire Preferred: Offers purchase protection and extended warranty coverage, which can protect your purchases against damage or theft, and extend the manufacturer’s warranty.
- Freedom Flex: Offers purchase protection and extended warranty coverage, but with potentially different terms.
- Winner: Tie
Redemption Options
- Chase Sapphire Preferred: Points can be redeemed for travel through Chase Ultimate Rewards at a 25% premium (making points more valuable), or for cash back, gift cards, and more. Offers the flexibility to transfer points to travel partners.
- Freedom Flex: Cash back can be redeemed for statement credit, direct deposit, or gift cards. No option to transfer points to travel partners.
- Winner: Chase Sapphire Preferred
Winner by Category
| Category | Winner |
|---|---|
| Annual Fee | Chase Freedom Flex |
| Travel Rewards | Chase Sapphire Preferred |
| Dining Rewards | Chase Sapphire Preferred |
| Rotating Category Rewards | Chase Freedom Flex |
| Intro Bonus | Tie |
| Travel Benefits | Chase Sapphire Preferred |
| Overall Value (for frequent travelers) | Chase Sapphire Preferred |
| Overall Value (for everyday spenders) | Chase Freedom Flex |
What They Have in Common
- No Foreign Transaction Fees: Both cards waive foreign transaction fees, making them ideal for international travel.
- Rewards on Spending: Both cards earn rewards on purchases, although the categories and rates differ.
- Purchase Protection: Both cards offer purchase protection, covering eligible purchases against damage or theft.
- Contactless Payments: Both cards support contactless payments for quick and secure transactions.
- Mobile App: Both cards are managed through the Chase mobile app, allowing you to track spending, manage your account, and redeem rewards.
- Fraud Protection: Both cards offer fraud protection, including zero liability for unauthorized charges.
Chase Sapphire Preferred Vs Freedom Flex Buying Guide
Earning Rewards
The Chase Sapphire Preferred offers a strong rewards structure, particularly on travel and dining purchases, earning 5x points on travel purchased through Chase Ultimate Rewards, 3x points on dining, and 2x points on all other travel. The Freedom Flex, on the other hand, excels with its rotating 5% cash back categories, alongside 3% back on dining and drugstores, and 1% on everything else. The best card depends on your spending habits and if you prefer consistent rewards vs. maximizing rotating categories. Consider the annual fee of the Sapphire Preferred against the potential rewards of the Freedom Flex.
Redemption Options
Both cards offer flexible redemption options, but they differ slightly. The Sapphire Preferred allows you to redeem points for travel through Chase Ultimate Rewards at a 25% premium, boosting the value of your points. You can also transfer points to travel partners for potentially even greater value. Freedom Flex offers cash back, statement credits, or gift cards, but at a lower value. The Sapphire Preferred’s transfer partners are a significant advantage for maximizing rewards value, especially for frequent travelers. Evaluate your redemption preferences before choosing.
Annual Fee & Costs
The Chase Sapphire Preferred carries an annual fee, which can be a barrier for some. However, the benefits, such as the travel and dining rewards and the Ultimate Rewards portal, can potentially offset the cost. The Freedom Flex has no annual fee, making it an attractive option for those seeking a card without ongoing costs. Consider the value you’ll receive from each card’s benefits compared to the annual fee. Factor in interest rates and fees for late payments when making your decision.
Travel Benefits & Perks
The Chase Sapphire Preferred offers a suite of travel benefits, including trip cancellation/interruption insurance, baggage delay insurance, and primary auto rental collision damage waiver. These benefits provide valuable protection and peace of mind when traveling. The Freedom Flex doesn’t have the same level of travel perks. The Sapphire Preferred’s benefits are a significant differentiator for travelers. Evaluate your travel frequency and the need for these protections when making your decision.
Credit Score Requirements
Both cards require good to excellent credit scores, but the Sapphire Preferred generally requires a higher score. A good credit score is typically considered to be 670 or higher, while excellent is 740 or higher. The Freedom Flex may be more accessible with a slightly lower credit score. Check your credit score before applying for either card to increase your chances of approval. Consider the potential impact on your credit score from applying for a new credit card.
Overall Value Proposition
The overall value proposition hinges on your spending habits and preferences. The Sapphire Preferred is ideal for those who spend heavily on travel and dining and value premium benefits. The Freedom Flex is excellent for those who want a no-annual-fee card with the potential to earn high rewards through rotating categories. Both offer attractive sign-up bonuses. Consider your lifestyle and spending patterns and the value you place on travel perks when deciding between these two cards.
Who Should Buy What?
Buy Chase Sapphire Preferred If…
- You value travel rewards and are willing to pay an annual fee.
- You spend a significant amount on travel and dining.
- You want added travel protections like trip cancellation/interruption insurance.
- You want to transfer points to travel partners for potentially higher value redemptions.
Buy Freedom Flex If…
- You want a card with no annual fee.
- You want to maximize cash back on everyday spending, including rotating categories.
- You don’t travel frequently or are not concerned with travel-specific perks.
- You want a card with a strong introductory bonus.
Frequently Asked Questions
What is the Chase Sapphire Preferred’s annual fee?
The Chase Sapphire Preferred card has an annual fee. This fee allows access to premium benefits such as travel insurance, purchase protection, and rewards earning capabilities. The annual fee helps Chase offset the cost of these benefits, and it’s important to consider whether the value you receive from the card’s rewards and perks outweighs this cost. This is a key factor when considering the card’s overall value.
Does the Freedom Flex have an annual fee?
No, the Chase Freedom Flex has no annual fee. This makes it a very appealing option for those who are budget-conscious or new to credit cards. The absence of an annual fee allows cardholders to earn rewards without incurring any ongoing costs. This also means you aren’t paying a fee that needs to be offset by spending to make the card worthwhile.
What are the key rewards differences?
The Sapphire Preferred excels in travel and dining (5x and 3x respectively), while Freedom Flex offers rotating 5% categories, 3% on dining, and 1% on everything else. The Freedom Flex’s 5% categories change quarterly, requiring active management. The Sapphire Preferred offers a simpler, more consistent earning structure, making it easier to earn rewards on everyday purchases, especially travel and dining.
Can I transfer points to travel partners with the Freedom Flex?
No, the Freedom Flex does not allow point transfers to travel partners. This feature is exclusive to the Chase Sapphire Preferred and other cards within the Chase Ultimate Rewards ecosystem. This is a significant distinction, as transferring points to partners can often unlock much higher value for your rewards points than other redemption methods, particularly for travel.
What are the main travel benefits of the Sapphire Preferred?
The Chase Sapphire Preferred provides trip cancellation/interruption insurance, baggage delay insurance, and primary auto rental collision damage waiver. These benefits help protect your trips. These are valuable for frequent travelers, providing financial protection and peace of mind during travel. The Freedom Flex does not offer comparable travel insurance.
What credit score do I need for each card?
Both cards require good to excellent credit. The Sapphire Preferred typically requires a higher score than the Freedom Flex. A good credit score is usually considered to be 670 or higher, while excellent is 740 or higher. Check your credit score before applying to determine your chances of approval and select the card that best aligns with your credit profile.
How do I redeem rewards for each card?
The Freedom Flex offers redemption options like cash back, statement credits, or gift cards. The Sapphire Preferred allows for redemption through Chase Ultimate Rewards, often at a premium for travel, and also offers the ability to transfer points to travel partners. The Sapphire Preferred enables more flexible redemption options, particularly for those who travel frequently.
Final Verdict
Both cards offer distinct advantages. The Chase Sapphire Preferred is best for those who prioritize travel rewards and premium benefits, while the Freedom Flex is ideal for those seeking a no-annual-fee card with excellent earning potential through rotating categories. The choice ultimately depends on your spending habits and preferences. Consider your travel frequency, dining habits, and the value you place on travel perks.
Winner: Freedom Flex