Chase Freedom Credit Card Review
Generous Rewards and Sign-up Bonus
The Chase Freedom card might be a good alternative to the Discover Card for some. Since it's a Visa, it's more widely accepted. It can also pay similar rewards than Discover.
Chase Freedom Details
$150 bonus after you spend $500 on purchases in your first 3 months
|Intro Purchase APR||0% intro APR for 15 months|
|Ongoing APR||17.24%–25.99% variable APR|
|Balance Transfer APR||
0% for the first 15 months, after that 17.24% to 25.99%
|Balance Transfer Fee||Either $5 or 3% the amount of transfer, whichever is greater|
|Late Payment Fee||Up to $38|
|Foreign Transaction Fee||3% of the amount of each transaction in U.S. dollars|
Pros & Cons of Chase Freedom
What We Like
No annual fee
$150 bonus if you spend $500 within three months
What We Don't Like
You have to sign up for the 5% back category every quarter
Must have fairly good credit to qualify
Chase Freedom Sign-up Bonus
New Chase Freedom customers get a $150 bonus if they spend $500 on the card within three months of opening the account. In addition to the rewards, the Chase Freedom card offers 0% interest for first 15 billing cycles on purchases and balance transfers then a 17.24%–25.99% variable APR after the introductory period ends, depending on your credit history.
Earning Points & Rewards
The Chase Freedom credit card was designed for people who want to earn cash rewards on their credit card spending.
The Chase Freedom card is Chase's answer to the Discover Card, with a similar rewards structure: 5% on categories that rotate every three months. But, since it's a Visa card, it's accepted at more places than Discover.
You can earn 5% back on certain purchases. For example, from January to March 2018, you could earn 5% on spending at gas stations, drugstores, and Starbucks stores. However, to get that bonus, you must proactively sign up with Chase, either by phone or online (Discover has a similar program).
- 5% back on purchases in specific categories that rotate (e.g. gasoline, groceries)
- 1% back on everything else
- $150 cashback bonus for making $500 in purchases in the first three months of account opening
Cash rewards can be redeemed with no minimum. They can also be redeemed for travel, gift cards, and merchandise.
Chase Freedom Card includes Chase's new Blueprint program, which allows you to pay off some of your purchases without incurring interest while setting up a payment plan for the rest.
Points can be redeemed for cash, gift cards, Amazon.com shopping, or travel arrangements.
Chase Freedom's Additional Fees
|Returned Payment Fee||Up to $38|
|Cash Advance APR||27.24%|
|Cash Advance Fee||Either $10 or 5% of the amount of each transaction|
Is This Card Right For You?
The Chase Freedom card is great for those looking for a cash-back rewards card. Another option is the Chase Freedom Unlimited card, which offers 1.5% cash back on all purchases but has not 5% bonus category.
Go to the Chase credit card website to apply.