If you spend money without earn points, you're doing yourself a disservice. There are a multitude of credit cards on the market today that offer all types of rewards, travel to cash back for using them. In fact using a credit card to earn rewards is a smart financial decision, as you get rewards for purchases that you would deploy anyway. In particular, cash back cards can provide more immediate tangible rewards by bringing your card spending in monetary rewards. We took a close look at the Chase Freedom cash back credit card to see if it measured up. In short, he did. Freedom offers an excellent combination of up to 5% cashback and 15 months 0% Apr intro that rivals any card with no annual fee offered to people with excellent credit. But those with just good credit (generally considered a credit score above 660) also have a chance of being approved for the Chase Freedom, making it accessible to a wide audience. To learn more, read our detailed review below.
Highlights
AWARDS
From the start, Chase Freedom has no annual fee and you will earn a $ 150 bonus after spending 500 $ in the first 3 months of account opening. In addition, you get a $ 25 bonus after making your first purchase on the card and add an authorized user, bringing the total prize fund was in a very easy to get a bonus $ 175 . The good thing about this bonus is that it requires less expenditure for the biggest bonus of all major card on the market. And if you do the math, the $ 175 bonus is equal to a whopping 35% cash back on the first $ 500 you spend, which is a considerable bonus.
In addition to the bonus, you will also gain 5% cash back in categories that rotate every quarter (of a maximum of $ 1,500 of combined purchases after 1% return ) and 1% cash back on all other purchases. The categories of cash back of 5% are usually quite common items you might spend money - for example, from October to December 2015, you will get 5% off Amazon.com purchases, making it easy to earn money back on holiday gifts. (For January-March, the categories were grocery stores, movie theaters, and Starbucks, for April-June, there were restaurants, Bed Bath & Beyond, H & M and Overstock.com, for July to September, they are gas stations and Kohl). You need to register to receive additional 5% return each quarter, but Chase offers practical reminders via email or text to keep you on track. Or you can put it on your calendar and remember. Chase gives you until the middle of last month of each quarter to register retroactively. Anyway, taking advantage of the 5% return can add up to $ 300 extra in your pocket each year. Not counting the 1% cash return the standard card offers. If you're curious about how much you earn each year, check out our Cash Back calculator Personalized fast and free.
0% Intro April PERIOD
Chase Freedom also has a 15 months 0% Intro APR on balance transfers and purchases. This can be a useful tool if you are carrying balances on other credit cards with high interest. Transfer those balances to Chase Freedom and benefiting from interest-free 15 months can save you money and give you some breathing space to help pay your balance. Note that there are 5% balance transfer fee, but depending on your situation, it might be worth it.
You can also capitalize on 15 months 0% Intro APR on new purchases card , which allows you to make purchases now and do not pay interest for 15 months. While we certainly do not encourage taking on more debt than you can pay, sometimes things come and you need to make major purchases (a new refrigerator, car repair, computer for children, etc.). Having a 15 months 0% Intro APR on purchases is such as a zero-interest loan that can help you pay the purchase amount without paying a penny of interest for more than a year.
WHO IS ELIGIBLE
Those who can not have a perfect credit history will understand that Chase Freedom is offered to those who have good credit (rather than simply excellent credit). Good credit is generally considered a credit score above 670, though other things like income and employment are also reflected in the acceptance of cards. So if you have a ding or two on your credit report, you can still be eligible for great cash back rewards and 0% Introductory APR that Chase Freedom offers.
AWARDS REDEMPTION
Chase Freedom rewards are easily exchanged via the Chase Ultimate Rewards website online. You can share against the right money in the back ($ 20 minimum redemption), or you can use them to pay for Amazon.com purchases ($ 1 in cash back is equal to $ 1 Amazon). You can also purchase gift cards and other goods.
You can even exchange your Chase Freedom rewards for travel with the following method, which allows you to enjoy discounts of 20% for travel and 1: 1 transfer free point some cards Chase offer. First, you or your spouse / domestic partner must have either the Chase Sapphire Preferred or Ink Business Card Plus. Then you need to transfer your Chase Freedom rewards on your favorite Chase Sapphire or Ink Plus Business Account (yes, you can!), Because these cards allow you to get more for your money in the Chase Ultimate Rewards portal.
Once the rewards have been transferred over, you can use them to pay for travel at reduced prices. The bonus part of this arrangement is that you get 20% discount on all travel if you book with Sapphire Preferred and Ink Plus Business by Ultimate Rewards and you can transfer your points 1: 1 ratio for participants free travel rewards programs as Southwest Airlines Rapid rewards, United MileagePlus and Hyatt Gold Passport. If you make a decent amount of travel or have your own business, it might even make sense to apply to both Chase Sapphire Preferred / Ink more Business Card and Chase Freedom. This would use the 5% cash rewards Freedom offers to win additional prizes that you can then use to travel at reduced prices with other cards.
Considerations
Although Chase Freedom offers high rewards cash back if you tend to always spend your money in some categories like gas or groceries, you can watch other cash back cards. Heavy users of gas and groceries should consider Preferred Blue Cash card from American Express (NextAdvisor an advertiser), which offers 6% return in supermarkets (to a maximum of $ 6,000 per year in procurement), 5% on eligible travel purchases made in the first six months (up to $ 200 cash back on max), 3% in the stations and select department stores like Sears, Kohls and Macy and 1% on all other purchases. There is an annual fee of $ 95, so if you prefer a card without a take a look at the Everyday Card Blue Cash from American Express, which offers 5% on eligible travel purchases made during the first 6 months ( up to $ 200 cash back max) 3% cash back at supermarkets (to a maximum of $ 6,000 per year in purchases) 2% in stations and select department stores and 1% on all other purchases at no cost annual. Or if you prefer a card with a fixed rate of return cash, take a look at Citi Double Cash Card - 18 months offer BT, which has an effective 2% cash back on all purchases, but does not come with a bonus intro
If you are in the market for more than a simple balance transfer card and are concerned about the balance transfer fees, visit Chase Slate. It has no balance transfer fees (which are typically 3% to 5% of the transfer amount), 15 month introductory 0% Intro APR on balance transfers and purchases and no annual fee. It has no reward, though.
If you ask Chase Freedom?
If you have a good (rather than "excellent") credit card and want a strong cash back which also has a 15 months 0% Intro APR on purchases and balance transfers, Chase Freedom is right up your alley. The annual fee makes it not particularly attractive, as you will earn cash back on purchases you're already doing without pay for the card. If you spend more in certain categories of purchases, such as groceries or gas, consider a cash back card mentioned above. Or if you're more interested in a themed card for balance transfers that do not charge balance transfer fees, we recommend our suggestion above. But if you're in the market for a solid cash back card that is available for those with good credit, Chase Freedom is an excellent choice. Visit our Chase Freedom journal to apply.
Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and has not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but the terms and conditions of card can change at any time. This site may be compensated by the sending credit card affiliate program.