Post image for Chase Freedom + Chase Checking = Even Better Rewards

Chase Freedom + Chase Checking = Even Better Rewards

by on June 5, 2012

The Chase Freedom is one of the best no-fee credit cards, offering a full 5% cash back on rotating bonus categories and 1% everywhere else. But it gets even better: right now they’re offering a bonus for Chase checking account customers that could net you an impressive 11% rewards on a $1 purchase, and at least a 1.1% rewards rate elsewhere. All of this is in addition to a Earn a $100 Bonus after you make $500 in purchases in your first 3 months from account opening. signup bonus. How? Chase is pushing its “relationship banking,” so if you have both a Chase checking account and the Chase Freedom, you’ll get:

Features of the Freedom:

  • 5% cash back on rotating bonus categories, up to $1,500 spent per quarter
  • Unlimited 1% cash back elsewhere
  • Access to the Chase Ultimate Rewards Mall, which earns up to 20% cash back on select merchants

Additional goodies:

  • 10 bonus points per purchase
  • Extra 0.1% cash back on all purchases (regular purchases get 1.1% back, bonus purchases 5.1%)

Chase Freedom®
Chase Freedom - $100 Cash Back Credit Card
Apply Now

on Chase's
secure website

starstarstarstarstar
  • Earn a $100 Bonus after you make $500 in 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%.
  • 5% Cash Back on up to $1,500 in combined purchases between April 1 and June 30, 2014 at restaurants and Lowe's® home improvement stores
  • 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!
  • Unlimited 1% Cash Back on all other purchases
  • No annual fee and rewards never expire
thumbsupPros
  • Bonus cash back categories
  • No annual fee
  • 0% for 15 mos on transfers
Annual Fee Signup Bonus APR , Variable* APR Promotions
$0 Earn a $100 Bonus after you make $500 in purchases in your first 3 months from account opening. 13.99% - 22.99% (Variable) 0% APR for 15 months on purchases and balance transfers

How do Chase’s checking accounts compare?

Chase, like most big banks, offers conditionally free checking. There are three accounts that qualify:

Total Checking Premier Plus Checking Premier Platinum Checking
Minimum Deposit $25 $25 $100
Monthly Fee $10 $25 $25
Avoid Monthly Fee $500+ direct deposit
OR
$1,500 minimum daily balance
OR

$5,000+ average daily balance in linked deposits or investments
$15,000+ average daily balance in linked deposits or investments $75,000+ average daily balance in linked deposits or investments

Update: An astute reader pointed out that the student checking account does not qualify. Sorry, college kids, no free lunch.

Obviously, if you can’t make the minimum balance requirements and would have to pay a monthly fee, it’s not worth it to get a checking account. If you have a Chase checking account, you’ll also get discounts or perks on CDs, auto loans, HELOCs, mortgages and investments.

Get the most out of your Chase Freedom

One last rewards-maximizer for the Freedom: the Ultimate Rewards discounts mall. If you go to the mall’s site and click through to any of the featured merchants’ websites, you’ll earn anywhere from 2% to 20% cash back on top of your usual earnings. To see where you can earn extra rewards, check out the NerdWallet discount tool’s summary of the Ultimate Rewards mall.

For an in-depth look at the Freedom, check out our review.

Never miss a bonus!
Sign up for the NerdWallet rewards newsletter for deals of $300 or more.
We want to hear from you and encourage a lively discussion among our users. Please help us keep our site clean and safe by following our posting guidelines, and avoid disclosing personal or sensitive information such as bank account or phone numbers. Any comments posted under NerdWallet's official account are not reviewed or endorsed by representatives of financial institutions affiliated with the reviewed products, unless explicitly stated otherwise.