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Chase Freedom®

Rotating Categories! How Fun!

Our Two Cents: Chase Freedom®  Review

The Chase Freedom card is a staple in many cash back connoisseur's wallet. The card earns 5% cash back in rotating categories each quarter on up-to $1,500 in spend. You'll earn 1% cash back on all other purchases. You have to sign up for the spend category each quarter, which let's be honest, we struggle to remember to make our kids lunches for school. If you can tackle that problem, you'll be alright. Also, can you send us a reminder about school lunches? Thanks. The Freedom really shines when you pair it with either the Chase Sapphire Preferred or the Chase Sapphire Reserve. If you hold either of those cards, you'll be able to redeem your points for 1.25 cents each (Preferred) or 1.5 cents each (Reserve) when used to book travel. That means your cash back earning is boosted to 6.25% and 7.5% respectively. The Freedom has some other unique perks that make it a wallet staple.

Counting Your Pennies - How To Earn Cash Back with the Chase Freedom®

Swipe.That.Plastic. It's pretty straight forward. Freedom earns cash back on your everyday purchases. Sign up for your rotating categories. Redeeming is just as easy. Redeem any amount of points for a statement credit. 1 point equals a penny when redeemed as a statement credit. Be a pro and sock that cash back away in a savings or investment account. Chase has their own payment platform, Chase Pay. You can use points to pay for purchases in real time if you'd like, but you'll only redeem at .8 cents each. You lose value here. It will make your penny jar sad. You can also redeem points for travel using Chase's travel center. Complete terms for redemption requirements can be found here. With that being said, if you are going to be traveling, we strongly recommend picking up a Sapphire Preferred card to round out your Chase portfolio. Your points will be worth more when redeemed for travel.

Who Should Get It?

Honestly, you cannot go wrong with this card. As long as your credit is in the good-excellent range, this card will treat you well if you are looking for cash back, intro rates, or dabble in travel. It doesn't have an annual fee, so you really have nothing to lose. If travel is high on your list of things to do, then pair this with the Sapphire Preferred down the road and you'll be set. Even if you're in a spot where you are carrying a balance month to month, this card is okay, since the first 15 months come with an introductory rate. Just clean up your spending habits before that intro period ends, eh?

Who Shouldn’t Get it?

Anyone who has opened more than 5 credit cards in the last 24 months. Your application will be auto declined. You may as well be dead to Chase for credit card purposes at this point. It's a real thing. Also, if you have a higher end travel card with another bank, the Freedom might not make sense for you. 

Final Thoughts

Freedom is a solid choice for beginners looking to start their cash back journey and work their way up to a travel card like the Sapphire Preferred. It's a solid card for someone that needs an intro APR balance transfer or new purchase rate. It's also good for the seasoned traveler that holds a card in the Sapphire family. It's not the best for someone that applies for a lot of credit cards or if you have a higher end travel card with another bank.

Chase Freedom® Highlights

  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.74-25.49%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
  • Enjoy new 5% categories each quarter
  • Unlimited 1% cash back on all other purchases - it's automatic
  • Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
  • Free credit score, updated weekly with Credit Journey℠
  • No annual fee

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