Chase Freedom® is a cash back credit card that rewards you on all eligible spending. There is no limit to how much cash back you can earn as it lets you earn unlimited 1% cash back on literally any product or service you purchase. You can also earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. In addition, if you are a new cardmember, you can look forward to earning a $150 bonus after spending just $500 within the first 3 months of account opening. For a card with no annual fee, Chase Freedom® is a strong contender if you are on the hunt for a solid, rewarding credit card. And in case you need to clear any existing balances, this card also comes with a 0% intro APR for 15 months for purchases and balance transfers (a 17.24% - 25.99% variable APR will apply thereafter).
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0% Intro APR for 15 months from account opening on purchases and balance transfers
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Here, GET.com provides answers to key questions about how Chase Freedom® works and what it has to offer.
Questions And Answers For Chase Freedom®
Answer: Yes, Chase Freedom® has a welcome bonus for new cardmembers. It lets you earn a $150 bonus after you spend $500 on purchases within the first 3 months of account opening. The $150 bonus will be given in the form of 15,000 bonus points, which can be redeemed for $150 cash back. Current cardmembers of this credit card or previous cardmembers of this credit card who received a new cardmember bonus for this credit card within the last 24 months will not be eligible for this $150 bonus.
Answer: Yes, Chase Freedom® lets you earn cash back for every purchase you make with your card. It lets you earn unlimited 1% cash back on all purchases, and 5% cash back on up to $1,500 spent in combined purchases in bonus categories each calendar quarter you activate. Keep in mind that you are required to activate your rotating 5% cash back bonus categories each calendar quarter by the activation deadline if you want to take advantage of this extra cash back.
Since your cash back is earned in the form of points, you have a variety of ways to use the points you have earned and accumulated. Your points can redeemed for any available reward options, including cash, travel, gift cards, and products or services made available through the program or directly from third party merchants. Note that the redemption values for reward options vary. There is no minimum to redeem for cash back, though, 100 points is worth $1 in cash back rewards.
Answer: No, you do not have to pay to use Chase Freedom® because it has no annual fee.
Answer: Yes, Chase Freedom® lets you shop with points at Amazon. You can link your card to your Amazon.com account and instantly redeem your cash back rewards to pay for all or part of your eligible Amazon.com orders at checkout, including tax and shipping.
Chase Freedom® also comes with built-in benefits such as zero liability protection, fraud protection, purchase protection, extended warranty protection and fraud alerts. These useful benefits are available to you so long as you use your card when making payment. Restrictions, exclusions and limitations apply. You will also get free access to your credit score, updated weekly with Credit JourneySM.
Answer: Not really, if you travel overseas frequently or if you spend a lot in foreign currencies, you will end up chalking up a lot of extra charges. Chase Freedom® levies a 3% foreign transaction fee. For example, if you spend $5,000 in a foreign currency, you will end up paying $150 in foreign transaction fees alone.
Answer: Yes, if you have big purchases planned, Chase Freedom® will come in handy as it offers a 0% intro APR for 15 months for purchases and balance transfers. Thereafter, a 17.24% - 25.99% variable APR applies, based on your creditworthiness. This card has a balance transfer fee of 3% (min. $5) when you transfer during the first 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
Answer: No, Chase Freedom® is definitely a card you do not want to use if you need cash urgently. It has a 27.24% variable cash advance APR and a cash advance fee of either $10 or 5% of the amount of each transaction, whichever is greater.
Answer: No, your cash back (in the form of points) will not expire so long as your account is open and in good standing.
Answer: Yes, there is a late payment penalty fee if you don't pay your credit card bill punctually. The late payment penalty fee is up to $15 if the balance is less than $100; up to $27 if the balance is $100 to less than $250; and up to $37 if the balance is $250 or more. There is no penalty APR, though.
Answer: Unfortunately, the answer is no. Chase Freedom® is reserved for people with excellent/good credit.
Answer: Chase Freedom® is one of the best cash back credit cards that offers a very generous welcome bonus for new cardmembers: You can earn a $150 bonus after spending just $500 on purchases in your first 3 months from account opening. This card lets you earn unlimited 1% cash back on all your purchases, and 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate.
As this card has rotating bonus categories every calendar quarter, those who prefer the certainty of having fixed categories may not appreciate Chase Freedom® for what it is as much as people who enjoy earning higher cash back on different bonus categories.
If you have any big purchases in mind, Chase Freedom® could come in handy thanks to its 0% intro APR for 15 months for purchases and balance transfers. Thereafter, a 17.24% - 25.99% variable APR will apply. This card has no annual fee so all the cash back earned on your expenditure equals real savings, if you make it a point to never carry balances.