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Chase Freedom® Review

Our Editor's take

Looking for a sign-up bonus available on a card with no annual fee? Then this might be the card for you. Watch out for: Watch out for the cap on bonus cash back and be sure to set reminders to sign up for bonus categories each quarter
Curtis Arnold Curtis Arnold

Full Review

Curtis Arnold Editor-in-chief
Chase has spent plenty of advertising dollars positioning the benefits of its various rewards credit cards with different types of consumers. While the Chase Sapphire Preferred Card resonates with jet-setters who love luxury experiences, Chase Freedom's brand aligns with frugal Americans who love to uncover extra cash in their daily activities. That's why Chase's current credit card deal makes their cash back card an even better value. Along with the opportunity to earn a $100 Bonus after you spend $500 on purchases in your first 3 months from account opening, new cardholders can also earn a $25 Bonus after you add your first authorized user and make a purchase within this same 3-month period. In addition new cardholders are offered 15 months at 0 percent introductory APR on purchases and balance transfers. After the introductory period, a variable APR of 13.99%-22.99%. There is a balance transfer fee of $5 or 3% of the amount of each transfer, whichever is greater.

Chase Freedom blends features from the best cash back credit cards

Chase Freedom borrows two concepts from some of the country's best cash back cards. Everyday purchases earn unlimited 1 percent cash back for every dollar spent on purchses, adding up to the same base rebate as popular cards from Capital One and American Express, a CardRatings.com advertiser. 100 reward points add up to a dollar rebate, and Chase's signup deal kicks off your account with 10,000 bonus points after you spend $500 on eligible purchases in your first three months from account opening.

Like Discover, Chase also enables cardholders to sign up for quarterly bonus offers. Those opt-in deals offer 5 percent total cash back on up to $1,500 in combined purchases in rotating feature categories each quarter. In addition, the 2015 calendar includes promotions involving specific merchants such as Amazon.com. It's worth your time to set up calendar reminders for yourself about the sign-up periods, especially when promotions include bonus rewards at gas stations and restaurants.

Trading higher rebates for no annual fee

On paper, other cash back cards offer slightly bigger rebates than Chase Freedom. However, those cards often come with annual fees in the high double digits, and it's no fun to see your rebate evaporate at renewal time. With no annual fee, Chase seems willing to bank on your long term loyalty.

Converting cash rebates into Chase Ultimate Rewards

Chase Freedom and Chase Sapphire Preferred credit cards appeal to different kinds of consumers, but they both run on the same engine: Chase Ultimate Rewards. If you'd occasionally like to indulge in some exclusive experiences or pick up some deeply discounted gift cards, Chase's website gives you that option. Of course, you can still request a check or a statement credit for your rebate after you hit a $20 threshold.

Chase Freedom® details

Balance Transfer Intro APR
0% Intro APR on balance transfers
Balance Transfer Intro Period
for 15 months
Purchase Intro
0% Intro APR on purchases
for 15 months
Purchase APR
13.99%-22.99% (Variable) 
Annual Fee

What Chase says about this card

  • Named a Best Card for Cash Back by MONEY® Magazine
  • Earn a $100 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn a $25 Bonus after you add your first authorized user and make a purchase within this same 3-month period
  • 0% Intro APR for 15 months on purchases and balance transfers. After the intro period, a variable APR of 13.99-22.99%
  • Unlimited 1% Cash Back on every purchase
  • 5% Total Cash Back on up to $1,500 in combined purchases in bonus categories each quarter
  • You'll enjoy new 5% categories every 3 months like Gas stations, Restaurants and Amazon.com. It's free and easy to activate your bonus each quarter!
  • No annual fee and rewards never expire as long as your account is open

Credit Card Consumer Average Ratings:

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Credit Card Consumer Reviews:

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    Mark ( Apr 19, 2014 at 11:38 pm)

    I have been a member since 1998, always paid in full and on time and yesterday they decided to close my account and no one in India or anyone in America will tell me why. They just tell me to read the letter, which sounds good except that I am not home because I came to my parents house for Easter, which Chase does not even care about.

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    Bill ( May 9, 2013 at 7:59 am)

    Love the cash back rewards. I picked this card up about a year ago. It is very easy to transfer your cash back rewards to pay down your bill. You need to be sure to sign up quarterly for the bonus categories. It only takes a few minutes and you can get quarterly text message remainders.

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Featured offers
Currently available on the Chase Freedom®
$100 Bonus
After you spend $500 in your first 3 months from account opening; $25 Bonus when you add your first authorized user and make your first purchase within this same 3-month period

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