For many commonly used viscoelastic constitutive equations, it is well known that the limiting behavior is that of the Oldroyd-B model. Here, we compare the response of the simplified linear form of the Phan-Thien–Tanner model (“sPTT”) [Phan-Thien and Tanner, “A new constitutive equation derived from network theory,” J. Non-Newtonian Fluid Mech. 2, 353–365 (1977)] and the finitely extensible nonlinear elastic (“FENE”) dumbbell model that follows the Peterlin approximation (“FENE-P”) [Bird et al., “Polymer solution rheology based on a finitely extensible bead—Spring chain model,” J. Non-Newtonian Fluid Mech. 7, 213–235 (1980)]. We show that for steady homogeneous flows such as steady simple shear flow or pure extension, the response of both models is identical under precise conditions (ε=1/L2). The similarity of the “spring” functions between the two models is shown to help understand this equivalence despite a different molecular origin of the two models. We then use a numerical approach to investigate the response of the two models when the flow is “complex” in a number of different definitions: first, when the applied deformation field is homogeneous in space but transient in time (so-called “start-up” shear and planar extensional flow), then, as an intermediate step, the start-up of the planar channel flow; and finally, “complex” flows (through a range of geometries), which, although being Eulerian steady, are unsteady in a Lagrangian sense. Although there can be significant differences in transient conditions, especially if the extensibility parameter is small L2>100,ε<0.01, under the limit that the flows remain Eulerian steady, we once again observe very close agreement between the FENE-P dumbbell and sPTT models in complex geometries.