Chase Freedom vs. Discover it Cash Back Comparison

This content is not provided or commissioned by any issuer. Opinions expressed here are the author’s alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. This page includes information about the Discover it® Cash Back product that is not currently available on WalletHub and may be out of date.

Please note: Chase Freedom® may no longer be available to new applicants.

The Verdict: Chase Freedom® and Discover it® Cash Back are two of the most popular cash rewards cards for people with above-average credit. Both Chase Freedom and Discover it Cash Back have $0 annual fees and give 5% cash back on up to $1,500 spent per quarter in rotating bonus categories (that require activation), plus 1% back on all other purchases. Freedom is best for people who want a sign-up bonus after three months, instead of 12 months, and those interested in 0% financing. Discover it Cash Back is best for double rewards the first year and no foreign transaction fee.

Specifically, one of the biggest differences between the two cards is how they award their bonuses. Freedom offers $200 for spending at least $500 within 3 months of opening an account. Plus, cardholders have more bonus rewards waiting for them the first year, as Freedom now gives 5% cash back on the first $12,000 you spend on groceries in the first 12 months your account is open. Discover, on the other hand, doubles all the rewards you earn the first year.

Similarly, both Chase Freedom and Discover it Cash Back offer 0% purchases. But Freedom has a slightly longer interest-free period on purchases. However, Chase Freedom has a foreign transaction fee of 3% of each transaction in U.S. dollars and doesn’t offer an intro on balance transfers, while all Discover cards have no foreign fee.

You can learn more about how Chase Freedom and Discover it Cash Back compare below.

SIDE BY SIDE COMPARISON

	Chase Freedom®   (2,531)	Discover it® Cash Back   (1,291)
General
Network	VISA	Discover
Credit Card Company	Chase	Discover
Min Credit Required	Excellent or Good	Excellent or Good
Annual Fee	$0	$0
Purchases
Intro APR	0%	0%
Intro APR Period	15 months	14 months
Regular APR	14.99% - 23.74% (V)	11.99% - 22.99% (V)
Transfers
Intro APR	N/A	0%
Intro APR Period	N/A	14 months
Regular APR	14.99% - 23.74% (V)	11.99% - 22.99% (V)
Transfer Fee	5% (min $5)	3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Rewards
Reward Type	Cash Back	Cash Back
Reward Bonus	$200	N/A
Reward Cap	No	No
Reward Details	Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year. Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Unlimited 1% cash back on all other purchases - it's automatic Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.	INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched. Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically. Redeem cash back any amount, any time. Rewards never expire. Use your rewards at Amazon.com checkout.
Penalties
Max Late Fee	See Terms	$40
Max Overlimit Fee	See Terms	None
Max Default APR	None	None
Cash
Cash APR	24.99% (V)	24.99% (V)
Cash Advance Fee	Either $10 or 5% of the amount of each transaction, whichever is greater.	5% (min $10)
Other
Additional Info	0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99% - 23.74% Free credit score, updated weekly with Credit Journey℠ No annual fee	Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free. No annual fee.
One-time Setup Fees	None	None
Foreign Transaction Fee	3% of each transaction in U.S. dollars	0%
Grace Period	See Terms	23 days

We work hard to present you with the most accurate credit card information, however, this information does not originate from us and thus, we do not guarantee the accuracy of the information.

Before you apply for a credit card we recommend that you review and verify the credit card terms and conditions on the credit card company's web site. Please let us know if you find any differences.

 

Ad Disclosure: Certain offers originate from paying advertisers, and this will be noted on a card's details page using the designation "Sponsored Card", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to list as many credit card offers as possible and currently have more than 1,200 offers, but we do not make any representation of listing all available offers.