Chase Freedom® - $150 Bonus Review
You will earn 5% cash back in categories that rotate quarterly (on up to $1,500 in combined purchases each quarter) and 1% back on everything else. Although you do need to sign up each quarter to receive the 5% back, Chase offers a cool reminder feature that will text or email you each quarter. You can also choose to receive quarterly reminders that will appear in your online calendar (Outlook, iCal, Google and Yahoo are covered). For those Costco and other wholesale club shoppers out there, you'll earn 5% back at wholesale clubs through the end of 2016.
There are tons of redemption options available. First off, you can redeem your cash back rewards for a statement credit or have them deposited directly to your bank account. Or if you'd prefer non-cash rewards, you can redeem them for a wide selection of gift certificates or at Amazon.com. Your rewards will transfer to Amazon.com in a 1:1 ratio, so $1 in rewards will equal $1 at Amazon, and you can use them to pay for all or part of your purchase. You can even redeem your rewards for travel by combining your rewards with other Chase cards that offer Ultimate Rewards like Chase Sapphire Preferred and the Ink Plus Business Card. By transferring your rewards to either of those cards you can get 20% off travel by booking via the Chase Ultimate Rewards portal. Or you can transfer them at a free 1:1 ratio to Chase Sapphire Preferred and then transfer them again for free at a 1:1 ratio to participating travel rewards programs like United Mileage Plus, Southwest Airlines Rapid Rewards and Hyatt Gold Passport.
The lengthy 15-month 0% intro APR on purchases and balance transfers can save you a fair amount in interest fees, particularly if you typically carry a balance. There is a 5% balance transfer fee, which is higher than most cards on the market, but it might be worth it depending upon how much you're planning on transferring and what your current interest rate is. If you're not sure, see our free Balance Transfer Calculator, which will do all the math for you and let you know what card is best for your situation.
Chase Freedom® is a good choice for anyone who wants a terrific cash-back card that offers both quick ($150 intro bonus) and long term cash back rewards. And if you plan to carry a balance, you can take advantage of the 15-month 0% intro on balance transfers and purchases to save money on interest fees.
- Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
- Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
- Unlimited 1% cash back on all other purchases - it's automatic
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 14.24-23.24%. Balance transfer fee is 5% of the amount transferred, $5 minimum
- Enjoy new 5% categories every 3 months like gas stations, restaurants, and wholesale clubs
- Cash Back rewards do not expire as long as your account is open
- No annual fee
- Rewards do not expire as long as your account is open.
- Rebates can be redeemed for cash, as well as travel, gift cards or statement credits.
Fees and APR
- Annual Fee: $0.
- Purchase APR: 0% Intro APR on Purchases for 15 months, then 14.24%-23.24% variable.
- Balance Transfer APR: 0% Intro APR on Balance Transfers for 15 months, then 14.24%-23.24% Variable.
- Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
|Purchase APR:||0% Intro APR on Purchases for 15 months, then 14.24%-23.24% variable|
|Features:||Earn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening. Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Unlimited 1% cash back on all other purchases.|
NextAdvisor Credit Cards Blog Headlines
- What You Need to Know About Store Credit Cards
Store credit cards offer many benefits to consumers, and they are especially enticing during the holiday season when they offer […]
- Why Can’t I Use My Chip Card Everywhere Yet?
If you live in the U.S., chances are you’ve received a new credit or debit card in the past year […]
- Considering an American Express Credit Card? See if You Qualify for a Special Offer Before You Apply
Deciding to open a new credit card can be a challenge. While you may be tempted to apply for the […]
- Limited-Time Offer: Get 50,000 Bonus Miles with These Airline-Branded Credit Cards
If you frequently fly with American Airlines, now might be the time for you to apply for an American Airlines-branded […]
Related Forum Posts
- Do you get 5% cash back at Sams Club with Chase Freedom Visa?
Yes, Chase Freedom Visa offers 5% back on up to $1,500 in combined purchases quarterly at wholesale club stores including Sams Club, Costco and BJs.[...]
- Is Chase Freedom chip and pin enabled?
Chase Freedom is chip enabled. Like most cards in the the US, the technology is chip and signature (not chip and pin), but it works pretty much the[...]
- What is the Chase Freedom Visa interest rate after 0% APR period?
Currently, after the 15-month 0% intro APR has expired the Chase Freedom Visa interest rate is 13.99% - 22.99%, depending on creditworthiness.
- How does the Chase Freedom Visa bonus work?
Yes, if you spend $500 in the first 3 months of Chase Freedom Visa card ownership you will get the $200 bonus even if you pay it off. [...]
- Does the Chase Freedom Visa have a grace period?
Yes, the Chase Freedom Visa does have a "grace period" for purchases (but not for cash advances or balance transfers), and here is what the[...]