Chase Freedom $100 Bonus Cash Back Review
With its sign-up bonus, rotating 5% cash back categories, and 0% introductory APR for 15 months on purchases and balance transfers, the card is one of the most popular no-annual-fee rewards cards. Read this Chase Freedom review to see if this cashback credit card fits your lifestyle.
Pros and Cons
Excellent cash back credit card for cardholders who pay in full
Rewards: Cash Back Program
The Freedom card helps you earn cash back on virtually everything you buy.
You earn bonus cash back on rotating categories throughout the year (free activation required each quarter). You earn 5% cash back in select bonus categories on up to $1,500 worth of quarterly purchases. If you spend over this limit, you go back to regular 1% rate. You earn an unlimited 1% cash back rate on all other purchases.
In addition, you can earn extra cash back by shopping online through Ultimate Rewards Mall, Chase's online shopping portal.
You can redeem rewards for cash back ($20 or more) in your choice as a statement credit, direct deposit or a paper check. You can also redeem through Chase Ultimate rewards for gift cards.
2013 Categories: Rewards Calendar
The bonus categories for 2013 are:
2014 Categories: Rewards Calendar
The bonus categories for 2014 are:
Remember, you need to activate the 5% cash back categories. You can activate the 5% cash back categories online, by text messages, via email, by calling customer service, or in-person at a Chase bank.
2015 Categories: Reward Calendar
The bonus categories for 2015 are:
(Additional categories or merchants will be announced before the start of each quarter.)
The first quarter of 2015 will see Chase Freedom welcome back the Grocery Store 5 percent cash back category (not including Walmart® and Target® purchases; cardholders will continue to earn unlimited 1 percent cash back on these purchases). As the cold sets in, Chase is also offering 5 percent cash back at Starbucks® stores during the first quarter. And cardholders can take in award nominated films and other new movies, as the card will offer 5 percent cash back at movie theaters throughout the quarter. That is in addition to the unlimited 1 percent cash back on all other purchases from the first dollar spent with no tiers, no caps and no annual fee.
Cardholders can welcome spring and the return of outdoor dining while earning 5% cash back on restaurant purchases in the second quarter 2015.
To kick off summer in the third quarter 2015, the card will offer the opportunity to earn 5 percent cash back at gas stations for those hitting the road with family and friends.
To get the most out of holiday shopping in the fourth quarter 2015, the card will again offer cardholders 5% cash back on purchases made at Amazon.com.
For new cardholders, check out this deal. If you make $500 worth of purchases on your card within the first 3 months of your account, you earn a $100 bonus. This bonus is in addition to your regular cash back rewards.
Since this card has no annual fee, the introductory deal gives you an easy and cost-effective way to earn some extra cash back.
0% Introductory APR: Balance Transfer
This card also has a 0% intro APR for 15 months on purchases and balance transfers. After that, the APR will be a variable rate, currently 13.99% - 22.99% depending on your creditworthiness. Keep in mind, you will be charged 3% of the amount transferred, with a minimum fee of $5.00. Most likely, the amount you will save on interest in those 15 months will more than make up for this fee. Make sure to read our guide on balance transfers.
Foreign Transaction Fee
If you plan to frequently travel internationally, you might want to consider a credit card with no foreign transaction fee instead. The Freedom has a 3% foreign transaction fee which can quickly add up.
If you think bonus categories that change every quarter is a hassle, this card may not be for you. Also, consider your travel schedule. If you do a lot of international travel, you may want to opt for a card with no foreign transaction fee: the Freedom charges a 3% foreign transaction fee.
For everyone else, especially those who prefer getting cash back rather than airline miles, the Freedom card is a first-rate way to earn cash back for those with excellent/good credit. And since the Chase Freedom has no annual fee, it's a very cost effective to earn those rewards (assuming you pay off the balance every month).
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Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Chase. This site may be compensated through the Advertiser's affiliate programs.
Disclaimer: This content was first published on March 14, 2012. This content may have been updated on December 18, 2014. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check Chase website for updated information.
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