Hello Friends, I hope all is well with you! I am going to be reviewing the Chase Freedom rewards credit card. These opinions are my own, and I am in no way influenced by anyone.
Overall Verdict: The Chase Freedom rewards credit card has a similar reward structure to the Discover it cash back rewards credit card. It offers a high amount of cash back on certain quarterly categories but only up to a certain quarterly amount. Anything outside those categories earns a low flat rate reward; I’m not a big of the quarterly categories reward structure just because I spend in a variety of categories and just prefer a flat rate rewards card, but this Chase Freedom credit card could still be a good fit for you if you do spend in those categories. This rewards credit card offers great benefits and protections, which is something that I like.
Some things about this card I like:
Some things about the card that I don’t like:
The Chase Freedom rewards credit card offers you the chance to earn cash back on every dollar that you spend. The cash back rewards accumulate in your account until you are ready to redeem them. Luckily, Chase offers you a number of ways to redeem your cash back. You are able to redeem your rewards as a statement credit, you can redeem them for a gift card, you can shop on Amazon, you can redeem your rewards for Apple products, you can book travel through Chase Ultimate Rewards (Chase’s travel website), and you can even direct Chase to have your cash back directly deposited in your bank account.
The rewards credit card does not have an annual fee.
The Chase Freedom rewards credit card has a rotating categories reward structure. The categories change each quarter. This card offers you the chance to earn 5% cash back on the rotating category on up to $1,500 in combined purchases. Once you exceed the $1,500 quarterly limit, you will then earn 1% on the purchases made in those categories. You will also earn 1% cash back on all other purchases. Chase also offers you the opportunity to earn extra cash back by buying certain brands or shopping at certain stores. You may earn 10% cash back at Dunkin Donuts or earn an extra $5 for filing your taxes with TurboTax; there are limits to the amount of cash back you can get on these extra bonus offers. The stores and the limits vary depending on the deal, so make sure to check out the details.
I like how the Chase Freedom rewards credit card has an easy to reach sign-up bonus. The sign-up bonus is $200 if you spend at least $500 in purchases in your first three months of the account opening. This is about a 40% return on the money you would have spent regardless.
There is a 3% foreign transaction fee on the amount of each purchase in U.S dollars. I am not a big fan of this fee, but that is just me. If you don’t travel abroad or buy products in foreign currency, you don’t have to take this factor into consideration. On the other hand, if you do travel abroad or buy products in a foreign currency, then there are other no annual fee rewards cards that don’t have foreign transaction fees.
This Chase Freedom rewards credit card does offer some nice added benefits that other no annual fee cards may not have. These extra benefits include:
For more information and details on their benefits, check out their benefits page.
Chase offers you an introductory APR of 0% for the first 15 months. After the 15 months, the APR is between 14.99% and 23.74%, but this is based off your credit score.
They also have other fees such as:
For more information on their fees, check out their fee schedule.
There are a couple of ways to contact their customer service. The first way would be to call the number on the back of the card. The second way would be to send them a secure message through their online message portal. They are pretty good at replying back in a timely manner, and that’s what I mostly use to contact them. It’s important to note that your experience with their customer service will vary from time to time.
Who it’s perfect for:
Who it isn’t perfect for:
If you are still unsure if a rewards credit card makes sense, check out my post on Why You Should Use Rewards Credit Cards.
Additionally, if this card isn’t right for you, I invite you to check out my credit cards page for more information on other cards.