Chase Freedom Flex℠ vs. SoFi Credit

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Chase Freedom Flex<sup>℠</sup> Card Chase Freedom Flex℠ Card SoFi Credit Card SoFi Credit Card
8.7MyCreditCardLab Score

MyCreditCardLab Score 8.7

We've meticulously evaluated this card using MyCreditCardLab's exclusive credit card rating system. Our assessment considered various cardholder needs, ultimately assigning a rating based on the need with the highest score, currently at "." Our rating scale ranges from 1 to 10, with 10 representing the best possible score.

Annual Fee
10
Intro APR
9.3
Regular APR
9.3
Rewards
8.2
Benefits
8.1
Welcome Bonus
8.8
Recommended Credit Score: 9
Foreign Transaction Fee: 7.3
Cash Advance Fee: 9
Balance Transfer Fee: 8.3
8.5MyCreditCardLab Score

MyCreditCardLab Score 8.5

We've meticulously evaluated this card using MyCreditCardLab's exclusive credit card rating system. Our assessment considered various cardholder needs, ultimately assigning a rating based on the need with the highest score, currently at "." Our rating scale ranges from 1 to 10, with 10 representing the best possible score.

Annual Fee
10
Intro APR
7
Regular APR
7.3
Rewards
9
Benefits
9
Welcome Bonus
6
Recommended Credit Score: 9.1
Foreign Transaction Fee: 10
Cash Advance Fee: 8.6
Balance Transfer Fee: 8.8
ANNUAL FEE
$0 $0
INTRO APR
0% intro APR on Purchases for first 15 months and 0% intro APR on Balance Transfers for first 15 months on qualifying balance transfers N/A
REGULAR APR
20.49% - 29.24% Variable APR 20.24 percent to 29.99 percent (variable)
PROS
  • New cardholder $200 initial bonus
  • Intro APR period
  • Ongoing rewards of 1 - 5% cash back
  • 0% for 15 months on purchases and balance transfers
  • $0 Annual fee
  • Member FDIC
  • No membership fees
  • Cell phone insurance
  • No foreign transaction fee
  • Excellent rewards rewards rate when redeemed into an eligible SoFi account
CONS
  • 3% foreign transaction fee
  • Requires good - excellent credit score
  • Rotating bonus rewards categories
  • Earning limit in bonus categories
  • No initial rewards bonus
  • No intro APR on purchases
  • No intro APR on balance transfers
  • Must redeem rewards into an eligible SoFi account for best value
WELCOME BONUS
$200 if you spend $500 in first 3 months None
REWARDS
Chase Freedom Flex℠ Card Rewards stand out as a highly versatile credit currency, offering a myriad of redemption options to suit your preferences. You can utilize your rewards in a variety of ways, including:
  • You earn 5% cash back on combined gas station and grocery store purchases. The offer excludes Target and Walmart. It applies to up to $12,000 spent in the first year.
  • Earn 5% on up to $1,500 on combined purchases in bonus categories each quarter you activate
  • Earn 5% on travel. You buy it through Chase Ultimate Rewards.
  • Earn 3% on dining at restaurants. This includes takeout and some delivery services.
  • Earn 3% on drugstore purchases
  • Earn 1% on all other purchases
  • The card has a 0% Intro APR for 15 months from account opening. This applies to both purchases and balance transfers. After that, the APR is 19.24%-27.99%.
 SoFi Credit Card Rewards program offers remarkable versatility in credit currency. Utilize your earnings across a diverse array of options, such as:
  • Earn 2 points on all eligible purchases. You can redeem them for 2% cash back. Use it for investing, saving, or paying an eligible loan with SoFi. Or, you can use it as a statement credit.*
  • You earn 3 points per $1 spent. You get them when you use your SoFi Credit Card to book trips through the new SoFi Travel, powered by Expedia.
BENEFITS
Decent welcome bonus - The offer is for $200 bonus. You get it after spending $500 on purchases in the first three months of account opening. This is stellar for a no-annual-fee card. Trip cancellation and interruption insurance - You get reimbursed up to $1,500 per person. You get $6,000 per trip. This covers your prepaid, nonrefundable passenger fares. This happens if your trip is canceled or cut short by sickness, bad weather, or other covered situations. Car rental insurance - If you charge your rental car to your card, you can receive coverage if it is damaged or stolen. The coverage is secondary and goes up to the car's cash value. World Elite Mastercard Benefits - As noted, the Freedom Flex is Chase’s first foray into the Mastercard market in five years. Adding Mastercard to the Chase lineup opens new features for Flex cardholders. Visa doesn't offer them. Two key benefits are cell phone protection and ID protection. Both are Mastercard staples. Base Rewards Rate of 1% Cash Back - Most cash back credit cards give 1% back as a base earning rate. The only way to get a higher base rate is to earn less from your chosen card. Free cellphone insurance - Receive up to $1,000 of coverage when you pay your cellphone bill with your SoFi card. ID theft protection - World Elite Mastercard benefits - It has Mastercard World Elite benefits. These include cellphone protection. And, they come with savings for Lyft, DoorDash and more. No foreign transaction fees - Save 2% to 3% on foreign transactions, it might be the best fit for consumers who make regular purchases outside the U.S. This card might be good for consumers. They want a business credit card with simple rewards and no annual fee. Sofi balance transfer - The basics of balance transfer credit cards are simple. First, you must open a new card with lower or no interest. Then, you’ll move your credit card balance from the high-interest card to the new one. Once the transfer goes through, you’ll start paying down the balance on your new card.
CASH ADVANCE FEE / APR
29.99% variable, Either $10 or 5% of the amount of each transaction, whichever is greater. Either $10 or 5% of the amount of each transfer, whichever is greater
BALANCE TRANSFER FEE
20.49% - 29.24% variable, plus either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after) APR: 17.99% to 29.99% variable based on creditworthiness and the Prime Rate, Fee: Either $10 or 5% of the amount of each transfer, whichever is greater
RECOMMENDED CREDIT SCORE
690 - 850 (Fair - Exceptional) 670 - 850 (Fair - Exceptional)
FOREIGN TRANSACTION FEE
3% 0%
BEST FOR
  • Cash Back Seekers
  • Small Business Owners
  • Gas and Groceries
  • Restaurant
  • Cash Back Seekers
  • Students
  • Hotel Stays
  • Foreign Travel
More Details More Details

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