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Chase Freedom: 6 Good Reasons This Is the Cash Back Card for You

Jan. 5, 2015
Credit Cards
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We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

The Chase Freedom® is one of the most popular cash-back cards on the market. If you’re thinking about applying, now is the time. Not sure why? Here are six good reasons:

1. With the Chase Freedom®, you’ll earn 5% cash back

Possibly the best feature of the Chase Freedom® is that you’ll have the ability to earn 5% cash back in rotating quarterly bonus categories, up to $1,500 spent per quarter. Here’s a list of this year’s categories:

Chase Freedom® bonus rewards categories for 2018
Q1 2018 (Jan. 1 - March 31)• Gas stations
• Internet, cable and phone service
• Purchases via Chase Pay, Apple Pay, Android Pay and Samsung Pay
Q2 2018 (April 1 - June 30)• Grocery stores
• PayPal, for online, mobile or in-app purchases
• Chase Pay, for online, mobile or in-app purchases
Q3 2018 (July 1 – Sept. 30)• Gas stations
• Lyft
• Walgreens
Q4 2018 (Oct. 1 – Dec. 31)• Chase Pay
• Wholesale clubs
• Department stores

2. You’ll also earn unlimited 1% cash back on all other purchases

Aside from getting 5% cash back at featured retailers, you’ll also be earning unlimited 1% cash back on your other purchases with the Chase Freedom®. And don’t forget: Even if you exceed the quarterly $1,500 limit on bonus categories, you’ll earn the unlimited 1% back on your excess spending at those merchants.

3. You have options when it’s time to redeem your rewards

The Nerds hate cards that make you jump through hoops to cash in your rewards. With the Chase Freedom®, this isn’t a concern. You’ll have be able to use your cash back in the following ways:

  • For a statement credit.
  • As a direct deposit into your bank account.
  • For purchasing gift cards.
  • To go shopping at Amazon.

4. The Chase Freedom® comes chip-enabled

Beginning in 2014, Chase began adding EMV chips to the Chase Freedom®. This feature means you’ll be ready for the 2015 migration to smart-chip cards, and you’ll be able to easily swipe the card overseas if you want to. However, keep in mind that it does carry a 3% foreign transaction fee – if you travel abroad frequently, using a card that waives this charge (like the Chase Sapphire Preferred® Card) is a smarter choice.

5. The Chase Freedom® carries a signup bonus

Unlike many other cash-back credit cards, the Chase Freedom® carries a modest signup bonus: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening. This is a great way to get started with building up your rewards.

6. You’ll pay an annual fee of $0

Last but not least, you’ll get all the great benefits of the Chase Freedom® at an annual fee of $0. This feature makes the card a lucrative and cost-effective option.

Image via iStock.

So what are you waiting for? Apply for the Chase Freedom® today!