Chase Freedom Card Credit Card
Chase Freedom Credit Card is one of the better rewards credit cards around. While most rewards cards offer one or two percent rewards, the Freedom card offers 3% cash back or 3 points per dollar at gasoline, supermarkets, restaurants, and other things that make up your “everyday purchases.” This is what makes the Chase Freedom card especially good for current cardholders: you earn back more on those purchases you make most often.
Current Cardholders: The Chase Freedom card still retains the 3% model for existing cardholders. However, the terms have recently changed for new applicants. The base rewards for the card are 1 point per dollar, in addition to ten points per dollar at specific online retailers. This is a different system than the 3% cash back for the purchases you make the most often. New applicants can still be eligible for 3% cash back, but only for the first six months, not for the life of the card.
Chase Everyday Purchases: For existing cardholders, or for the introductory period, the Chase Freedom Credit Card revolves around your personal purchases. So if you spend regularly at Wal-Mart and Applebee’s, these are the merchants that will earn 3% cash back. Cardholders receive the top-tier cash back for the fifteen common merchants he or she uses every month in three main categories. These cardholders are eligible for $600 in rebates a month. Additionally, cardholders will receive 1% cash back for “regular purchases” – those merchants where the cardholder spends the least.
Cash Back Bonuses: The Chase Freedom Credit Card has a $50 cash back bonus after first purchase. The card will credit cardholders with 5,000 free bonus points, which can be redeemed for a gift card.
Chase Freedom Fees: There is no annual fee for the card and a relatively low APR compared to other cash back cards. One negative is that the card charges a 3% fee on balance transfers, so it is not ideal to be used as a balance transfer card. It does, however, have an introductory 0% APR for balance transfers.
Conclusion: What makes this card so good is that you don’t have to adjust your life to the card – you can spend how you have been normally. On the other hand, you could think about spending more money at certain locations every month so you can earn the full 3% cash back. This is what puts the “Freedom” in the Chase Freedom Credit Card. You can spend and earn exactly how you want. However, after the introductory period expires, the Chase Freedom card reverts to a point-per-dollar system, which is fairly standard for a cash back card. If you use the card wisely during the introductory period, you can maximize your earnings.
Chase FreedomSM  | |
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| Card Features |
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| Best Feature | Access to rewards program for no additional fee; no annual fee. |
| Special Notes | Higher APR for less qualifying applicants; limited benefits offered. |
| Card Details | The Chase FreedomSM credit card is designed for those who want a card that allows them to earn cash rewards for everyday purchases. Cardholders always earn a full 1% cash back on every purchase, and 5% cash back in rotating categories like gas, home improvement and department stores. This card has no annual fee and a reasonable APR for purchases for those who qualify. Therefore, those who plan to take advantage of the cash rewards program will benefit most from what Chase FreedomSM has to offer. |
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