Chase Freedom® is a great all-around, jack-of-all-trades card presenting an effortless sign up bonus, superior cash back rewards program, no annual fee, and a solid 0% introductory rate on purchases and balance transfers for 15 months. This combination of rewards and benefits rolled into a single card is uncommon and is to be broken down to illustrate how special this card is.
Nice, Easy Bonus
Chase Freedom® offers the chance to earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening which is relatively easily done for most people. Add another user, a family member or a good friend, to earn an additional $25 bonus after making a purchase within 3 months. Who wouldn’t love an extra $175 for doing what they were gonna do anyways?
Getting the Most Out of Chase Freedom
Up to 5% Cash Back – With Chase Freedom®, earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months like gas stations, restaurants, and wholesale clubs. Unlimited 1% cash back on all other purchases.Cash Back rewards do not expire as long as your account is open. 5% cash back bonus categories do rotate and change every quarter. For 2016, the bonus categories are as follows:
Q1 (January 1 – March 31): Gas stations, local commuter transportation including taxis, subways, local commuter buses and trains.
Q2 (April 1 – June 30): Grocery stores (excluding Walmart and Target) and wholesale clubs including BJ’s, Sam’s Club, and other wholesale clubs where Chase Freedom is accepted.
Q3 (July 1 – September 30): Restaurants and wholesale clubs including Costco, BJ’s and Sam’s Club.
Q4 (October 1 – December 31): To be announced.
Low Intro Rates – Chase Freedom offers an awesome 0% Intro APR on purchases and balance transfers for 15 months . This card allows you to make carefree purchases, pay down high interest balances, and earn cash back all at the same time. After the introductory period, the variable APR is 14.24% – 23.24%(see terms) and the balance transfer fee either $5 or 5% of the amount of each transfer, whichever is greater.
No Annual Fee – Chase Freedom has $0 annual fee but does have a foreign transaction fee of 3% of each transaction in U.S. dollars. Keep this in mind when traveling internationally and use another card like the Chase Sapphire Preferred® to avoid such fees.
Earning and Redeeming Rewards – With Chase Freedom, 1 earned point equals to 1 cent in cash back rewards. Earn 5 points for each $1 spent in bonus categories up to $1,500 or 7,500 points which equals to $75 cash back each quarter. That’s a possible 30,000 points or $300 total cash back each year on bonus categories alone assuming you reach the limit each quarter. We haven’t yet accounted for the unlimited amount of 1 points earned for each $1 spent on all other purchases. You can begin to understand how you can earn more money back in your wallet. Through Chase Ultimate Rewards®, points can also be redeemed for Amazon purchases, gift cards, and travel. Use Shop through Chase® to earn 1% – 15% extra cash back at more than 200 popular retailers online.
Transfer Rewards to Chase Sapphire Preferred – Reward points earned with Chase Freedom can be transferred to the premium Chase Sapphire Preferred® card for extra point value of 1.25 or 20% discount when redeemed for travel through Chase Ultimate Rewards. If the price of a round trip airfare is $300, it will cost 30,000 Chase Freedom points to redeem OR transfer those points to Chase Sapphire Preferred and it will only cost 24,000 points. That’s a 20% discount since each Sapphire Preferred point is worth 1.25 points. Moving Chase Freedom points to Chase Sapphire Preferred will also allow you to further transfer those points to Chase partners at a 1 to 1 ratio. Notable Chase partners include Southwest Airlines Rapid Rewards®, British Airways Executive Club, Hyatt Gold Passport®, and The Ritz-Carlton Rewards® to name a few. Those who travel often will appreciate the added value of this benefit.
Having a Chase Freedom® card will require some work to fully get the most out of what it has to offer. Since the 5% cash back bonus categories rotate and change every quarter, you must log into your account to activate in order to receive the 5% cash back. Activation is to be completed by the due date or you will miss out. Luckily there is a Chase Freedom Mobile App® to help. Not only can you activate the 5% bonus categories with the app from your phone, you can also redeem your cash back rewards and pay at 30 popular stores, restaurants and movie theaters. Also, to gain extra value on your Chase Freedom reward points, additional effort is needed to transfer those points to Chase Sapphire Preferred®, of which you will need to apply and get approved. See what we have to say about Chase Sapphire Preferred.
You’ll Appreciate This Card
The possibilities with Chase Freedom® is almost limitless. Take full advantage of everything this card has to offer from the sign up bonus to the extra value in reward points. Chase Freedom® draws in those who delight in receiving cash back and the freedom to spend that extra cash as they please. We feel that it’s worth the effort and are positive that you’ll value and appreciate this card for years to come. Review our complete list for more credit card bonus promotions.
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