Chase Freedom Credit Card Review

Generous Rewards and Sign-up Bonus

Chase Freedom credit card
••• Image courtesy Chase

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

Sign-up Bonus

$150 bonus after you spend $500 on purchases in your first 3 months

Rewards Rate 1%-5%
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
This card does not have an annual fee or recommended credit score

Pros & Cons of Chase Freedom

What We Like

  • No annual fee

  • Generous rewards

  • $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).

Rewards:

  • 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

Redeeming Rewards

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
This card has no penalty APR or overlimit fee

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.

Next Steps

Go to the to apply.