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Chase Freedom®

 

Rated 4.5/5 stars by our editorial team

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Your Rating:

3.9/5.0 from 12 Offer Ratings
Over the Past 60 Days!

(12 ) Over the Past 60 Days!

  • Regular Purchase APR 16.49% - 25.24% Variable
  • Intro Purchase APR 0% Intro APR on Purchases for 15 months
  • Intro BT APR 0% Intro APR on Balance Transfers for 15 months
  • Annual Fee $0
  • Credit Needed

    Excellent/Good

  • Card Brand Visa®

Highlights

Card Fees

Expert Review of the Chase Freedom®

  • 3.0

    Regular APR

  • 5.0

    Intro APR

  • 4.0

    Fees

  • 4.0

    Benefits

  • star rating 4.5 /5

    Overall Rating

Who the card is best for

The Chase Freedom® is a great card for people who already have a flat-rate cash-back card and are looking to maximize their cash back. If you have a balance on an existing credit card or are looking to make a large purchase and avoid interest for a while, this card can provide you with the time you need to rid yourself of debt. The 0% intro periods — 0% Intro APR on Purchases for 15 months and 0% Intro APR on Balance Transfers for 15 months — provide you with a good amount of time to get your finances in check.

This card isn’t for people who want a simple cash-back card and don’t want to deal with quarterly rotating-bonus categories. Flat-rate cash-back cards like the Citi® Double Cash Card – 18 month BT offer offer a hassle-free cash-back program without changing categories, caps or activation requirements. Also, if you’re a big spender in the bonus categories, you may be better with a different card that offers high cash back in nonrotating categories like gas and grocery because you may hit the quarterly maximum with the Chase Freedom®. If you’re someone who is looking for a lengthy 0% intro period, this card also isn’t for you. Other balance transfer cards offer longer 0% intro periods, like 18 or 21 months.

Where this card stands out in its category

The Chase Freedom® has a good cash-back program for people who want to maximize their cash back in the bonus categories: Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases. Since the categories rotate each quarter, there is bound to be at least one bonus category that appeals to you. The sign-on bonus is a great way for you to earn extra cash back in the first few months of account opening, as long as you spend the required amount. Earn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening. This is a great return for the low amount of spending required.

Where this card falls short in its category

There is a high balance transfer fee associated with this card: Either $5 or 5% of the amount of each transfer, whichever is greater. Most balance transfer cards have a transfer fee of 3 or 5 percent, but you can find cards that have a more favorable transfer fee like, like the Chase Slate®. Transferring your balance to a card with no intro transfer fee is a great way to save extra money — although you may miss out on rewards. Regarding the cash-back program, since there are caps on how much cash back you can earn in the bonus categories, your earning potential is limited, especially if you’re a big spender in the bonus categories.

Additional card benefits

The Chase Freedom® has limited benefits beyond the 0% intro offer and cash-back program:

  • Monthly FICO® Score for free: You can check your monthly score for free with Credit JourneySM. It’s important to monitor your score so you’re aware of any changes that may cause alarm.
  • Fraud protection: Chase will help safeguard your account using sophisticated Real-Time Fraud Monitoring for possible signs of fraudulent activity. This adds an extra layer of protection against possible fraud.

How to use it most effectively

To utilize the 0% intro period effectively, complete your transfer within 60 days from account opening or make your large purchase as soon as possible. Once your transfer or purchase is complete, make monthly payments with the goal of getting the debt paid off before the end of the intro period. This way you won’t be charged the 16.49% - 25.24% Variable APR that takes effect once the intro period is over. Make sure you use this card for all spending in the bonus categories so you can take advantage of the higher cash-back rate on those purchases. Also, don’t forget to activate the bonus categories each quarter or you’ll miss out on the higher rate. If you plan on earning the sign-up bonus, make sure you spend the required amount in the given time period to qualify. (Earn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening.)

Tip: This card is great to use when paired with a high flat-rate cash-back card like the Citi® Double Cash Card – 18 month BT offer to maximize cash-back rewards. With both cards, you can benefit by using the Chase Freedom® for purchases in the high cash-back categories and then use the Citi® Double Cash Card – 18 month BT offer for all nonbonus categories to earn a flat-rate on those purchases.

How to do a balance transfer with Chase

The total amount of your balance transfer request including fees and interest charges cannot exceed your available credit or $15,000, whichever is lower. Your balance transfer must be completed within 60 days from account opening in order to take advantage of the $0 intro balance transfer fee and 0% intro APR period.

To complete your balance transfer online, after logging in, click on “Accounts,” then on the Chase balance transfer card listed. Click on the “Things you can do” drop-down menu in the top right corner, choose “Transfer a balance” and select the Chase balance transfer offer you have been approved for. From there, enter your transfer information and review and submit your transfer. Your transfer may take one to three weeks depending on how quickly the payee processes the transferred amount.

Rewards breakdown

The Chase Freedom® offers a cash-back program that allows you to maximize your earning in bonus categories. Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases. Past bonus categories have included restaurants, gas stations and department stores. The wide range of bonus categories provides something for everyone to maximize their rewards. You can redeem cash back for a statement credit, direct deposit, travel and gift cards, and shop with points at Amazon. There is also a great sign-up bonus for you to earn extra cash back: Earn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening.

Compare it with the Chase Slate® credit card

The Chase Freedom® and Chase Slate® are comparable cards that offer distinct benefits, depending on what type of credit card you’re looking for. The Chase Freedom® offers a rewards program while the Chase Slate® does not. If rewards are a deal breaker for you, then the Chase Freedom® is a better fit.

However, if your goal is to complete a balance transfer or finance a large purchase during the 0% intro period, the Chase Slate® provides more value with it's leading balance transfer fee: Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater. You will save money with the Chase Slate® compared with the transfer fee that the Chase Freedom® has — Either $5 or 5% of the amount of each transfer, whichever is greater. See below for a breakdown of the key elements of both cards.  *This offer and/or promotion has since changed, expired, or is no longer available.

  Chase Freedom® Chase Slate®
Annual Fee $0 $0
Balance Transfer Terms 0% Intro APR on Balance Transfers for 15 months 0% Intro APR on Balance Transfers for 15 months
Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.
Ongoing APR Either $5 or 5% of the amount of each transfer, whichever is greater 16.49% - 25.24% Variable
Transfer Period 60 days from account opening 60 days from account opening
Rewards Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases. Non-rewards card

Bottom Line

The Chase Freedom® is a good choice for people who want to maximize cash back and enjoy a decent 0% intro period. If you don’t mind rotating bonus categories and can pay off your debt during the intro period, this card can save you money as you earn rewards.

Editorial Disclaimer: This content is not provided by the bank advertiser. Opinions expressed here are author's alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer. This site may be compensated through the issuer's Affiliate Program.

Ongoing Information

Additional Card Details

Consumer Reviews

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Offer Rating

3.9/5.0

12 Total Ratings

5 Star
 
 
(2)
4 Star
 
 
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3 Star
 
 
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2 Star
 
 
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1 Star
 
 
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+-30 users submitted a rating without a full review

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161 Found this review helpful

By: | Sep 29, 2016

This is an awesome credit card to have. I first signed up to do balance transfers and for the 0% interest. I now continue to use the card only as needed. I have enjoyed the cash back and thankful there are no fees.

177 Found this review helpful

By: | Feb 11, 2016

I have multiple credit cards and use them for different things, paying them all completely off each month. Since accumulating $500 in purchases to earn my $150 credit, I am now using this card specifically for purchases in the category of the quarter to earn 5% cash back, as well as some specified online sites which earn a specified percent. This is saving me lots of money. I'm disappointed that this quarter's category (gas) is the same as Discover's category for the quarter. Hopefully there won't be regular overlap between the two cards. For my purposes, the card is working perfectly.

164 Found this review helpful

By: | Jan 20, 2016

Excellent card so far. I get so many rewards. It's awesome.

179 Found this review helpful

By: | Nov 23, 2015

I have been with Chase for many many years and must give them all the credit possible because of them being so fair and honest. There have been quite a few times they have contacted me to advise of a false attempted use of my card number, in each to those situations they helped take care of it and were always very helpful, I would recommend Chase to anyone especially my friends and family!!!!!!!!! Mike Warrick

166 Found this review helpful

By: | Mar 9, 2015

Have had this company for a number of years and can vouch for its honesty and security and its fast action to save your being worried about security, etc..

170 Found this review helpful

By: | Mar 3, 2015

This is a great card. You get cash back one every purchase and 5% cash back on quarterly deals. For instance, I've gotten 5% cash back on all the gas I have purchased since January 1st and until March 31st. The interest rate is high, but if you pay your full balance every month, you won't accrue any interest charges. I highly recommend this card and have had it for 4 years now.

165 Found this review helpful

By: | Mar 2, 2015

Love the fact that I earned cash back right away that I was able to download to my checking account and pay back what I spent. Easy to apply for, receive and use. I recommend this card all the time. On the plus side the card itself is an attractive sparkly blue!

173 Found this review helpful

By: | Feb 7, 2015

love this card all the rewards are great am lovein it chase the way to go

164 Found this review helpful

By: | Feb 5, 2015

great card I've had it for over 4 years now

187 Found this review helpful

By: | Dec 15, 2014

Caution: When it says gas stations, that is exactly what it means. If you buy gas at a store that sells groceries you may not get your 5% reward if your receipt does not specify gas station.

188 Found this review helpful

By: | Oct 24, 2014

I have a Chase Visa, B of A Visa, and AmX all cash back. It's web site is very easy to navigate. Unlike many other cards, the promotions very by quarter paying 5% up to $1500/Q or $75. My favorite promo is 4thQ Amazon. Sweet deal ! If you spend a ton on gas, the other cards paying 2 and 3% are better.

163 Found this review helpful

By: | Oct 24, 2014

I have had this credit card for a long time, my APR is really low and I can make cash back really quick. I never have any problems when I travel abroad either.

166 Found this review helpful

By: | Oct 22, 2014

This is a great card for everyday rewards. You get money back so you don't have to worry about finding a place to use a gift card. Another great feature on this card is the special 5% categories. These offer 5 times the reward if you shop in a specific category. You'll have to make sure to apply for these though. Also aesthetically speaking this is a beautiful card with a great name - The Freedom Card! What's not to like?

168 Found this review helpful

By: | Oct 13, 2014

I have been using the Chase Freedom card for at least 10 years. They have been great to work with and are on the ball monitoring the activity, and have caught fruadulent traansactions. They are professional and knowledgeable. I gave up on mileage cards as they were so frustrating when trying to use the miles. The reward points are so much better. We bank them and then when we want to travel, we can chose any airline or hotel we want, and when we want.. The 5% back on specialty items is frosting on the cake.

170 Found this review helpful

By: | Oct 8, 2014

I like this credit card a lot. You can earn points quickly that can be cashed in for gift cards or cash back. Some months you can even earn more points on certain purchases, such as gas or grocery stores or restaurants. We use this card for everything and then cash in the points and get gift cards to go out to eat for free! I highly recommend it.

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