Chase Freedom Review: Closed to New Applicants, but 5% Bonus Remains

This card is no longer accepting applications. Existing cardholders still earn 5% back in rotating bonus categories they activate each quarter, on up to $1,500 in combined quarterly spending, plus 1% back on everything else.

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.


NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.
Frequently asked questions

The original Chase Freedom® was closed to new applicants in September 2020. A revamped version with richer rewards, the Chase Freedom Flex℠, has taken its place and is accepting applications. If you have the original Chase Freedom®, you can continue to use it as before, or you can request a change to the Chase Freedom Flex℠.

Both earn 5% cash back in rotating categories, on up to $1,500 in combined purchases per quarter. The Chase Freedom Flex℠, however, also earns 5% cash back on travel purchased through Chase and 3% on dining and drugstore purchases. Both cards pay 1% on purchases outside their bonus categories. Both have a $0 annual fee. Also, the Chase Freedom® is a Visa, while the Chase Freedom Flex℠ is a Mastercard.

Freedom-branded cards technically earn Chase Ultimate Rewards® points, which you can redeem for 1 cent apiece as cash back. You can get cash back as a credit on your statement or a direct deposit into most U.S. bank accounts. Other options include redeeming points for travel, gift cards and shopping at Amazon.

Points earned on the Chase Freedom® are generally worth 1 cent apiece. If you also hold one of Chase's Sapphire-branded travel cards, however, you can combine your points and redeem them for travel at a rate of 1.25 cents apiece (with the Chase Sapphire Reserve®) or 1.5 cents apiece (with the Chase Freedom®).

The Chase Freedom® earns 5% cash back in the rotating categories, and 1% on all other purchases. The Chase Freedom Unlimited® earns 5% cash back on travel purchased through Chase, 3% back on dining and drugstores and 1.5% back on all other purchases. If you don't mind keeping track of bonus categories and can maximize them, the Chase Freedom® can be more rewarding. If you prefer simplicity, the Chase Freedom Unlimited® is the better choice.