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Chase Freedom® Review

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What Chase says about this card

Apply online for Chase Freedom®
  • 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. Enjoy new 5% categories each quarter!
  • 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 16.99-25.74%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5.
  • No annual fee
  • Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
  • Free credit score, updated weekly with Credit Journey℠

By Brooklyn Lowery Site Editor  Updated Sep 11, 2019

CHASE FREEDOM® REWARDS

Chase has carefully tailored its positioning so that its various rewards credit cards are best suited to different types of consumers.

With that said, all of the cards' rewards come in the form of Chase Ultimate Rewards®, so the points are interchangeable and you could very well benefit from holding a couple of Chase cards that you use strategically to maximize your points. (We'll explain more below.)

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. Plus, with Chase's current deal, you have the opportunity to earn a $150 bonus after spending $500 on purchases in your first three months from account opening.

In addition, new cardholders are offered a 0% intro APR on purchases and balance transfers for 15 months (then 16.99% - 25.74% Variable), so Chase Freedom® stands to benefit cardholders who have a large purchase on the horizon or need to consolidate some existing credit card debt as they work to pay it off.

Chase Freedom® is a rotating categories cash-back card. Here's what that means:

  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate.
  • Earn unlimited 1% cash back on all other purchases.

If you're strategic with your spending, you could stand to earn a substantial amount of cash back – and you can do it with a $0 annual fee.

CardRatings Editor's Analysis: Pros & Cons

  • Chase Freedom® is routinely named among CardRatings' picks for best cash-back credit card as it is one of the best cards on the market for cardholders who keep track of rotating categories.
  • Earn a $150 cash-back bonus for spending just $500 within the first three months of account opening.
  • Reap the benefit of a 0 percent intro APR on purchases and balance transfers for 15 months (then, 16.99% - 25.74% Variable).
  • Watch out for the cap on bonus cash back and be sure to set reminders to sign up for bonus categories each quarter.

CHASE FREEDOM® SIGNUP BONUS

The Chase Freedom® kicks things off with a $150 bonus for new cardholders who spend at least $500 on purchases in the first three months from account opening. Greater still, Chase Freedom® enables cardholders to sign up for quarterly bonus offers. Those opt-in deals offer 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate.

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 a $0 annual fee, Chase seems willing to bank on your long term loyalty with Chase Freedom®. If the lack of annual fee and chance to rack up rewards aren't enough, remember that new card members enjoy a 0% intro APR on purchases and balance transfers for 15 months (then 16.99% - 25.74% Variable).

HOW TO USE CHASE FREEDOM® TO MAKE THE MOST OUT OF CHASE ULTIMATE REWARDS®

Chase Freedom®, Chase Sapphire Preferred® Card and Chase Freedom Unlimited® credit cards appeal to different kinds of consumers, but they all run on the same engine: Chase Ultimate Rewards®.

Remember how we said that you could possibly benefit from having all three of these cards in your wallet? Here's the deal:

When you pair Chase Freedom® with Chase Freedom Unlimited®, new cardholders can earn 3% cash back on up to $20,000 spent in the first year, then an unlimited 1.5% cash back on every purchase – it's automatic (as opposed to just 1% with Chase Freedom®).

Then, if you also carry the Chase Sapphire Preferred® Card, you can transfer your Chase Ultimate Rewards® points between the cards. Since Chase Sapphire Preferred® Card cardholders receive 25% more value when they redeem points for travel through Ultimate Rewards®, the points you earn with your Chase Freedom® or Chase Freedom Unlimited® could be worth more.

Top Features

Cash Back on Gas Cash Back on Groceries Cash Back on Other
1-5% 1-5% Earn 5% cash back on up to $1,500 in combined purchases in bonus categories every 3 months you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases.

CHASE FREEDOM® FOREIGN TRANSACTION FEE

Chase Freedom® offers cardholders many attractive benefits. However, when the time comes to travel overseas, for business or pleasure, this card is one you will probably want to leave home as it charges a 3% fee on all foreign transactions.

What does that mean in terms of real expense? Say you take even just one international trip a year, and spend $3,000 on that trip. You'll be looking at an extra $90 on top of that expense because of foreign transaction fees.

Think about if you take a few trips like this a year— you could end up spending hundreds of dollars in fees. This is another reason why it makes good sense to carry the Chase Sapphire Preferred® Card as well— it charges no foreign transaction fees. Plus, it offers two points on travel and dining purchase worldwide.

CHASE FREEDOM® TRAVEL BENEFITS

Chase Freedom® isn't commonly thought of as a travel rewards card, especially given the bit we just covered above. Though it may not be great for international travel, that doesn't mean this card isn't beneficial for travelers at all. There are a few notable travel benefits Chase Freedom® cardholders have to look forward to, including:

  • Trip cancellation/trip interruption insurance, offering reimbursement up to $1,500 per person and $6,000 per trip for your pre-paid, non-refundable passenger fares, if your trip is canceled or cut short by covered situations like sickness or injury.
  • Travel and emergency assistance services, which provodies you with legal and medical referrals or other travel and emergency assistance when you run into a problem away from home.
  • Auto rental collision damage waiver, providing you with coverage for theft and collision damage for most cars in the U.S. and abroad. In the U.S., this coverage is secondary to your personal insurance.
  • Roadside dispatch if you have a roadside emergency - anything from a tow or a jumpstart to a tire change, lockout service, winching or gas delivery. Roadside service fees will be provided when you call and will be billed to your card.

POTENTIAL DOWNSIDES OF THE CHASE FREEDOM® CARD

There's great potential to earn points for cash back, travel and more with Chase Freedom®, but you'll only maximize those rewards if you keep up with the quarterly categories and spend accordingly. Remember, too, that you have to sign up each quarter to reap the 5% rewards. If you don't want to give your credit card usage that much thought, a flat-rate or tiered rewards credit card might be a better bet for you.

When it comes to balance transfers, the 0% intro APR on balance transfers for 15 months is a great feature, but you will pay Either $5 or 5% of the amount of each transfer, whichever is greater. If you're primarily looking for a card to use for a balance transfer, take a look at our "Best Balance Transfer Cards" for some options that might be a better fit.

HOW CHASE FREEDOM® COMPARES TO OTHER CREDIT CARDS

Chase Freedom® vs. Discover it® Cash Back

These cards are both rotating categories cash-back cards with $0 annual fees. The rotating categories for the two cards differ, so it would make sense to check out each card's offerings before deciding which is right for you.

Furthermore, the 0% balance transfer intro period is shorter for Discover it® Cash Back – 14 months (then 13.99% - 24.99% Variable) as compared to 15 months with Chase Freedom®, so that one month could make a difference for you.

Discover also offers some planning opportunity that the Chase card doesn't since the full year's 5% calendar has been released at the start of the year for the past few years. That means you can look ahead and decide whether those categories align with your spending. For 2019, the bonus caregories are: January-March: grocery stores; April-June: gas stations, Uber and Lyft; July-September: restaurants and PayPal; October-December: Amazon.com, Target and Walmart.com.

Lastly, if you want to use your card abroad, Discover it® Cash Back doesn't charge a foreign transaction fee.

Chase Freedom® vs. Bank of America® Cash Rewards credit card

The Bank of America® Cash Rewards credit card is a tiered-rewards credit card, meaning you won't need to keep up with rotating categories in order to earn bonus cash— so it could be a better option if you aren't willing to strategize with your credit-card spending.

This card also features a unique offering in that you can maximize your cash back in the category of your choice between: gas, online shopping, dining, travel, drug stores, or home improvement/furnishing. Now earn 3% cash back in your choice category and 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), and unlimited 1% on all other purchases. You can update your choice category for future purchases once each calendar month using the mobile banking app or online banking, or do nothing and it stays the same.

Both Chase Freedom® and Bank of America® Cash Rewards credit card are $0-annual-fee cards and have 0% intro APR offers. With the Bank of America card you'll have 15 billing cycles of 0% interest on purchases and balance transfers made within the first 60 days of account-opening, then 15.99% - 25.99% Variable APR on purchases and 15.99% - 25.99% Variable APR on balance transfers.

Chase Freedom® vs. Chase Freedom Unlimited®

The Chase Freedom® and Chase Freedom Unlimited® cards are both solid cash back earning rewards credit cards from Chase with great bonus opportunities for new cardholders and no annual fees. The Chase Freedom Unlimited® card is currently offering 3% cash back earned on up to $20,000 spent during your first year as a cardholder (then, 1.5% on all purchases), a bonus earning that could be worth up to $600 cash back.

In addition to the higher bonus offered, the Chase Freedom Unlimited® offers flat rate uncapped cash back earning without activation or rotating categories. However, for those who prefer the ability to earn higher cash back rates and don't mind keeping up with rotating categories, the Chase Freedom®'s' 5% cash back on up to $1,500 in purchases in quarterly bonus categories and 1% on all other purchases might be the way to go.

IS CHASE FREEDOM® A GOOD CREDIT CARD?

The new cardholder bonus offer isn't stellar, but this card also doesn't charge an annual fee, which easily makes up for this. Especially because it offers cardholders the opportunity of 5% back on up to $1,500 in purchases each quarter. In short, if you're the type of person who doesn't mind keeping up with rotating categories to maximize your rewards, this is a great card. However, it's likely not the best option for someone looking for a card to use while abroad, due to the 3% fee charged on foreign transactions.

Chase Freedom® compared to other cash back cards

Card Name
Cash Back on Gas
Cash Back on Groceries
Cash Back on Other
Ratings/Apply
1-5%
1-5%
Earn 5% cash back on up to $1,500 in combined purchases in bonus categories every 3 months you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases.
Bank of America® Cash Rewards credit card
Apply online for Bank of America® Cash Rewards credit card
Earn 3% cash back on gas or your choice of one of five other popular categories (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases)
2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
Unlimited 1% on all other purchases
Chase Freedom Unlimited®
Apply online for Chase Freedom Unlimited®
Double Cash Back: Earn 3% cash back on all purchases in your first year up to $20,000 spent. After that earn unlimited 1.5% cash back on all purchases.
Double Cash Back: Earn 3% cash back on all purchases in your first year up to $20,000 spent. After that earn unlimited 1.5% cash back on all purchases.
Double Cash Back: Earn 3% cash back on all purchases in your first year up to $20,000 spent. After that earn unlimited 1.5% cash back on all purchases.
Blue Cash Preferred® Card from American Express
Apply online for Blue Cash Preferred® Card from American Express
3% at U.S. gas stations
6% at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%)
1% cash back on other purchases
Apply Now
Terms and Limitations Apply
U.S. Bank Cash+™ Visa Signature® Card
Apply online for U.S. Bank Cash+™ Visa Signature® Card
1-5%
1-5%
1-5%

Credit Card Consumer Average Ratings:

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Credit Card Consumer Reviews:

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    Me ( Aug 5, 2016 at 5:29 am)

    Dont apply for this card if you already have a chase card. They will find an excuse to reject your application. Strange thing is the rejection has the current card account number on it. Stop offerring deals if your not willing to share them Chase


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    Christy ( Dec 12, 2015 at 9:28 am)

    I love the cash back rewards. I think they are very useful. I love that it is so easy to redeem them. A couple of times, I have used them to pay my monthly payment.


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    Rick ( Jul 21, 2015 at 5:09 am)

    Beware. Really. Chase cancels charges at its whim. I found a good ticket for my son, who is studying abroad. Two days later, we get an email from the airlines that the ticket is canceled as the credit card charge was canceled. Chase decided that since we had never before ordered from that vendor that it was suspicious and canceled. This is the third time, twice before being at Walmart, but this time really hurt. We bought a ticket for $250 more due to that. Chase refused to help reimburse anything. I spent over 4 hours on the phone the next few weeks with plenty of reps who in turn always either transferred me to another rep or put me on hold. To top it off, several were actually quite rude. They said that Chase had the right to do this so that Chase doesn't take a chance on losing money and would do it anytime in the future without having to notify me. Amex, MasterCard, Capital One, I have them all and have always been notified both by phone and by email if there is suspicious activity. Chase simply does not want to do what the right thing is to do... eat costs as part of their commitment. Very, very frustrating. My convenient credit card had nothing to do with convenience. I canceled, and they basically said, "sure". TAKE THIS AS A WARNING. You may say that this is trivial, but when it happens to you, it can be very frustrating and there can be consequences.


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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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