Chase Freedom® Review

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Our Detailed Review of This Card

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Chase Freedom® offers an attractive combination of an unlimited cash back card — with a terrific $150 Bonus after spending $500 in the first 3 months — and a 15-month 0% introductory APR for purchases and balance transfers. It also features generous ongoing cash back rewards that will put some extra cash in your wallet.

Chase Freedom® will earn you 5% cash back in categories that rotate quarterly (on up to $1,500 in combined purchases each quarter) and 1% back on everything else. The categories vary from quarter to quarter, so it’s a nice opportunity to earn cash back on a number of different purchases. January through March of 2019’s categories include gas stations, tolls and drug stores. The categories for April through June are grocery stores (not including Walmart or Target) and home improvement stores. July through September categories are gas stations and select streaming services. The final quarter’s categories for October through December 2019 are department stores, Paypal and Chase Pay. 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).

There are tons of redemption options available to Chase Freedom® users. First off, you can redeem your cash back 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 Your rewards will transfer to 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 cash back for travel by combining your rewards with other Chase cards that offer Ultimate Rewards, like the Chase Sapphire Preferred® Card and the Ink Business Cash Credit Card. By transferring your rewards to either of those cards, you can get 25% more value on travel by booking via the Chase Ultimate Rewards portal. Or you can transfer them at a 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 that Chase Freedom® offers can save you a fair amount in interest fees, particularly if you typically carry a balance. There is a 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open ($5 minimum), but this one-time fee might be worth paying depending upon how much you’re planning on transferring and what your current interest rate is.

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 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. Enjoy new 5% categories each quarter. Unlimited 1% cash back on all other purchases.

Redeem Rewards

  • 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 16.49% - 25.24% Variable.
  • Balance Transfer APR: 0% Intro APR on Balance Transfers for 15 months, then 16.49% - 25.24% Variable.
  • Balance Transfer Fee: 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5. After that, it’s either $5 or 5% of the amount of each transfer, whichever is greater.
  • Foreign Transaction Fee: 3% of each transaction in U.S. dollars.
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