Capital One Platinum Card vs. Chase Freedom Cards [Detailed Comparison]

Key Takeaways

• The Capital One Platinum Credit Card*×Information collected independently. Not reviewed by Capital One. has no annual fee but does not offer rewards, while the Chase Freedom cards offer significant cash-back opportunities on everyday purchases.
• The Chase Freedom Unlimited^® earns at least 1.5% cash-back on purchases, and the Chase Freedom Flex^® earns 5% cash-back on quarterly bonus categories (up to $1,500 in purchases).
• The Capital One Platinum card is a straightforward choice for those building or rebuilding credit.

It’s important for a good credit card to have a robust rewards-earning structure, but it may not be the only thing that’s considered when evaluating what card is right for a person. Things like the ability to build credit or a 0%-intro-APR period may also be a major benefit that consumers are seeking.

We’re going to be looking at an example of a card that works well for building or rebuilding credit but doesn’t earn rewards and 2 cards that do earn rewards but require good, or better, credit.

If you have good credit and are looking at the Capital One Platinum Credit Card, we’ll show you how you might do better with a rewards-earning card. Or, if you’ve had the Capital One Platinum card for a while and managed it well, you might be ready for the next level of rewards-earning cards, including something like the Chase Freedom Unlimited^® or the Chase Freedom Flex^®.

With this perspective as a foundation, let’s look at how our 3 featured cards stack up against each other, and under which circumstances you would want to consider each option.

Capital One Platinum Card vs. Chase Freedom Cards — Overview

Hot Tip: Trying to decide which Freedom card to apply for? See our detailed comparison of the Freedom Unlimited card vs. Freedom Flex card.

The Value of a Welcome Bonus

While the Capital One Platinum card does not offer a welcome bonus, the Freedom Unlimited card and Freedom Flex card come with welcome bonuses that can be earned after meeting minimum spending requirements within the first few months after card approval.

Check out these card snapshots, including the welcome bonus offering (where available) and a summary of the cards’ features:

Capital One Platinum Credit Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Capital One Platinum card is great for those looking to build up their credit score and credit history, without paying a deposit or annual fee.

Capital One Platinum Credit Card

The Capital One Platinum card is great for those looking to build up their credit score and credit history, without paying a deposit or annual fee.

Welcome Offer

None

Annual Fee

$0

APR

Purchases: 29.49% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Fair to Good (580-739)

Why We Like This Card

If you’re ready to get serious about building or rebuilding your credit, you’ll want a credit card for which approval is probable, one that has a simple structure and is easy to manage, and ideally, has some benefits you can use. This is where the Capital One Platinum Credit Card really shines.

Pros & Cons

Pros

• No annual fee
• Free credit monitoring

Cons

• Does not earn rewards
• The high APR can be costly if you carry a balance

Read Full Review

Card Highlights

• No annual or hidden fees. See if you’re approved in seconds
• Be automatically considered for a higher credit line in as little as 6 months
• Help build your credit through responsible use of a card like this
• Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges
• Monitor your credit score with CreditWise from Capital One. It’s free for everyone
• Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One’s mobile app
• Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you’re all set
• Pay by check, online or at a local branch, all with no fee – and pick the monthly due date that works best for you

Financial Snapshot

• APR: Purchases: 29.49% Variable
• Foreign Transaction Fees: None

Terms Apply / Rates & Fees

Chase Freedom Unlimited^®

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!

Apply Now(at Chase's secure site)

Chase Freedom Unlimited^®

This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!

Welcome Offer

Intro Offer: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.

$200

Annual Fee

$0

APR

0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.74% - 28.24%.

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Good to Excellent

Why We Like This Card

The Chase Freedom Unlimited^® is easily one of the best cash-back credit cards on the market. There aren’t many no-annual-fee credit cards that offer multiple great bonus categories like 5% back on travel purchased through Chase, 3% back on dining and drugstore purchases, and 1.5% back on all other purchases.

When paired with other Chase cards in the Ultimate Rewards family, you can transfer that cash back into points if you wish – making it one of the most lucrative cards in your wallet.

Pros & Cons

Pros

• 5% back on travel purchased through Chase Travel℠
• 3% back on dining and drugstore purchases
• 1.5% back on all other purchases

Cons

• 3% foreign transaction fee

Read Full Review

Card Highlights

• Intro Offer: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
• Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases.
• No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
• Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.74% - 28.24%.
• No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited^® card
• Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
• Member FDIC

Financial Snapshot

• APR: 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.74% - 28.24%.
• Foreign Transaction Fees: 3% of each transaction in U.S. dollars

Rewards Center

Chase Ultimate Rewards

Chase Freedom Flex^®

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Freedom Flex card is an excellent no-annual-fee card that still earns big with 5% cash-back on travel and other bonus categories.

Chase Freedom Flex^®

The Freedom Flex card is an excellent no-annual-fee card that still earns big with 5% cash-back on travel and other bonus categories.

Welcome Offer

Earn a $200 bonus after you spend $500 on purchases in your first 3 months from account opening.

$200

Annual Fee

$0

APR

0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.74% - 28.24%

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Good to Excellent

Why We Like This Card

The Chase Freedom Flex^® sure does pack quite a punch — especially for a no-annual-fee card.

The Freedom Flex card is an incredible option for those looking for a well-rounded cash-back card, or a powerful point-earner when paired with a premium card in the Ultimate Rewards family.

Pros & Cons

Pros

• 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.74% - 28.24%
• Powerful cash-back earner: 5% back on quarterly categories and travel purchases through Chase Ultimate Rewards, 3% back on dining and drugstore purchases, and 1% back on all other purchases
• No annual fee

Cons

• 3% foreign transaction fees in U.S. dollars

Read Full Review

Card Highlights

• Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
• 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
• 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
• 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
• No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
• 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.74%-28.24%.
• No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Flex^® card
• Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
• Member FDIC

Financial Snapshot

• APR: 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.74% - 28.24%
• Foreign Transaction Fees: None

Rewards Center

Chase Ultimate Rewards

The welcome bonus offer that is offered on the Freedom cards is marketed as cash-back. This cash-back, however, is initially earned as Ultimate Rewards points, which can subsequently be redeemed for cash, or for 1 cent each towards travel. If you have a premium Chase Ultimate Rewards-earning card in addition to a Freedom card, points can be worth much more (we’ll cover that shortly).

Earning Potential

Freedom cards earn cash-back on every purchase and bonus rewards in specific purchase categories. Note that this cash-back is actually given in the form of Ultimate Rewards points. These Ultimate Rewards points can then be redeemed for cash-back, travel, statement credits, gift cards, and more.

The Capital One Platinum card is not a rewards-earning card. Its primary purpose is for building or rebuilding credit. 

Here’s how the cards’ rewards-earning categories compare:

Bottom Line: With good credit you can qualify for cards that earn rewards and offer greater value. Starting with a card for the purpose of building or rebuilding credit, like the Capital One Platinum card, can be a step towards achieving this objective.

Redemption Options

Ultimate Rewards points earned on the Freedom cards are some of the most flexible rewards currencies you can earn, and therefore quite valuable. Here’s how our featured cards compare when it’s time to redeem rewards.

Bottom Line: Both Freedom cards earn valuable Ultimate Rewards points that can be redeemed for travel, statement credits, and cash. You can also redeem for gift cards, shopping, and experiences or transfer the points to premium Chase cards for greater potential value at redemption time.

Travel Benefits and Protections

Travel benefits and protections can add significant value to a card, especially when you’re not paying an annual fee. Here are some of the most useful benefits and protections that come with our featured cards.

In addition to the benefits above, the Freedom Unlimited card has access to benefits at the Luxury Resort & Hotel Collection. These benefits include daily breakfast for 2, room upgrades when available, free Wi-Fi, early check-in, late checkout, and a unique property-specific amenity.

Bottom Line: Although the Capital One Platinum card does not earn rewards, you’ll find a few useful travel benefits on the card. Freedom cards, however, come with a longer list of travel benefits and protections.

Shopping Benefits and Protections

When making purchases with any of our featured cards, it’s good to know you’ll have shopping benefits and protections that can save you money or provide coverage should something go wrong with your purchase.

Here’s a sampling of the benefits and protections you can expect from our featured cards:

Capital One Platinum Card

• Extended Warranty — For eligible items purchased with your card that have manufacturer’s warranties of 12 months or less, an additional 12 months will be added. There is a maximum limit of $10,000 coverage per item and purchases with more than 12-month warranties do not qualify.
• Price Protection — Eligible purchases made entirely with your card receive 60 days of protection if you find a lower advertised price. You could receive up to $250 per item for the difference in price.
• No Foreign Transaction Fees — Foreign purchases will not be charged a transaction fee.

Freedom Unlimited Card and Freedom Flex Card

• Purchase Protection — Eligible items purchased with your card receive up to 120 days of protection against theft, damage, and “involuntary and accidental parting.” Coverage is limited to $500 per item and $50,000 per account.
• Extended Warranty — Receive 1 additional year of protection for eligible items purchased with your card that have manufacturer’s warranties of 3 years or less. Coverage limits are $10,000 per item and $50,000 per account.
• Introductory 0% APR Period on Purchases and Balance Transfers
  • Freedom Unlimited Card: 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.74% - 28.24%
  • Freedom Flex Card: 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.74% - 28.24% 
• Chase Offers — Find these offers on the home page of your Chase online card account, add the offer to your card, and receive cash-back after making your purchase at an eligible merchant.
• Shop through Chase — Earn up to 25x points per dollar when shopping through Chase’s online shopping portal.

Freedom Flex Card

• Cell Phone Protection — In addition to the above shopping protections and benefits, the Freedom Flex card also offers cell phone protection. Receive up to $800 per claim for damage or theft of your eligible phone when you pay your monthly bill with your card. There is a limit of 2 claims per 12-month period and a $50 deductible per claim.
• World Elite Mastercard Shopping Benefits — Receive additional benefits, such as Lyft credits, Fandango movie ticket discounts, 5% cash rewards on Box wholesale purchases, and more. Minimum purchases may apply and there are limits and conditions.

Bottom Line: Freedom cards come with several shopping benefits and protections. The Capital One Platinum card does not have as many benefits but the card does not charge foreign transaction fees. Freedom cards charge 3% on foreign purchases. 

The Power of Approval

If you have just fair credit or no credit history at all, you’ll find the Capital One Platinum card the only card of our 3 featured cards for which you’d potentially qualify. If, however, you have good credit, or better, you may qualify for the Chase Freedom cards.

Regardless of which position you’re in, you’ll find value in learning about these entry-level credit cards and how you might transition between the options.

Determine Your Credit Score

The first step in determining where you currently stand is to order a copy of your credit report and check it for accuracy. You can order a free credit report from each of the major credit bureaus at annualcreditreport.com.

A credit report is not the same as a credit score, and your report may or may not show your score. To view your credit score for free, we recommend using either Credit Karma or Credit Sesame.

Find Your Qualifying Offers

For a risk-free way to find out if you might have card offers waiting for you, you can try using the CardMatch tool. No hard inquiry is done on your credit report and the process takes just a minute to complete.

Our guide to how to find the best prequalified and preapproved credit card offers online details more about Capital One’s risk-free approval tool and offers from Chase. You’ll need to enter your name, address, and last 4 digits of your Social Security number, but your credit report will not be hit with a hard inquiry by using the form.

Neither option is an actual credit card application, just simply a tool to find out if you have card offers waiting.

Learn more about the minimum approval requirements for Chase cards.

Bottom Line: If you have no credit or less-than-perfect credit, your choices are limited for rewards-earning credit cards. However, there are plenty of options still available to build or rebuild your credit. And, once you’ve improved your credit, entry-level rewards-earning cards such as the Freedom Unlimited card and Freedom Flex card are both great cards worth considering. 

Final Thoughts

As we mentioned earlier, the Capital One Platinum card is designed for those who wish to build or rebuild their credit. If you have good or better credit, this card is not the best option for your situation, and a rewards-earning card would give you much more in return.

If you’ve had the Capital One Platinum card for more than a year, managed it well, and improved your credit score, you’ll receive more benefits with a rewards-earning card, making the Freedom cards well-worth considering. With the Freedom cards, you’ll earn cash-back on every purchase and a welcome bonus in addition to having access to more shopping and travel benefits. To dive deeper into rewards-earning Chase cards, you’ll want to review our article that compares the best Chase cards.

Since Chase does not offer a card for bad credit or no credit, the Capital One Platinum card can serve as a good starting point to improve your credit and subsequently qualify for a rewards-earning card. Unlike secured cards that are widely available for bad or no credit, the card does not require a security deposit. And while the card is issued with a low $300 credit limit, after 5 on-time payments you may receive a higher credit limit.

The card also has no annual fee and does not charge foreign transaction fees.