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Chase Freedom Review: Bonus Cash Back of Up to 5% for Everyday Purchases

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Offer status

This offer is no longer available for new applicants and card details may be out of date. We recommend checking out Chase's newest version of this card, the Chase Freedom Flex℠.

With a lucrative new cardholder bonus and one of the highest cash back rates we've seen, the Chase Freedom's benefits make it competitive with the best credit cards. For the right cardholder, it offers an impressive amount of value, especially considering it doesn't charge an annual fee. In our detailed the Chase Freedom review, we'll go over all its top perks, what could be improved, and how to decide if it’s right for you.

  • Packed with a deep bench of perks that is rare in the cash-back category, including an easy-to-pocket bonus, long 0% intro APR offer, and bonus cash back. It's a leading pick no doubt.

    • Rotating bonus categories
    • Big cash back bonus
    • Great intro APR
    • No annual fee
    • Foreign transaction fee
    • No fixed bonus categories
    • Earn a $200 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
    • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
    • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5.
    • No annual fee
    • 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℠

Full Chase Freedom review

This credit card is a good fit for: Consumers who want new cash back bonus categories every quarter or who need to finance purchases at a 0% intro APR.

Top perks

$200 new cardholder bonus: Qualifying new cardholders who spend at least $500 on new purchases in the first three months after account opening will receive a $200 cash back bonus. That's like getting an extra 40% cash back on your first $500 of spending.

Up to 5% cash back: This credit card's killer feature is its bonus rewards. It pays 5% cash back on up to $1,500 of quarterly spending in rotating categories that you activate. Chase's categories are usually very practical and have included things like gas, restaurants, department stores, and even wholesale clubs. On all other spending, the card earns 1% back.

0% intro APR for purchases: This credit card blurs the line between a 0% intro APR card and a rewards card, offering a 15-month 0% intro APR on purchases.

No annual fee: Because the Chase Freedom is a no annual fee credit card, it's a great starter card you can keep open for life.

No minimum redemptions: Many cards require you to rack up $25, $50, or even $100 in rewards value before cashing out. The Chase Freedom doesn't have a minimum redemption requirement for statement credit redemptions, so you can make a redemption whenever you want in amounts as small as you want.

What could be improved

Base 1% cash back rate: Although the Chase Freedom rewards you handsomely with a 5% cash back rate on the first $1,500 of spending in quarterly categories, its base rate is less impressive, at just 1%. Many cash back credit cards offer a higher rate on all spending.

3% foreign transaction fee: You'll get dinged with an extra fee when using your card internationally--it's not the best choice while you're traveling.

Find the best credit card for your needs

Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.

Suggested credit score

The Chase Freedom is intended for cardholders with good credit and better. A FICO® Score of 670 or higher is generally suggested for approval. Keep in mind that approval is neither guaranteed with a higher score nor impossible with a lower score; your credit score is only one of the factors assessed when you apply.

Anytime you're applying for a Chase credit card, it's important you understand Chase's 5/24 rule. If you've opened too many cards in the past two years, this rule could lead to a denied application.

Read more: What credit score do I need for a Chase credit card?

This credit card is right for you if:

The Chase Freedom is an excellent no annual fee credit card that is a good fit for consumers who want a bonus category card in their wallet. If any of the statements below apply to you, you'd be a good candidate for this card:

  1. You're open to all kinds of bonus categories. You'll get the most value from this card if you have high spending in a variety of areas because that will help you max out those rotating bonus categories each quarter.
  2. You want a one-card wallet. This card's lineup of perks makes it seem like a Swiss Army knife.
  3. You want to avoid interest charges. The long 0% intro APR offer on this card makes it a solid pick if you have a big purchase on deck that you want to break up into smaller monthly payments, interest-free.

FAQs

  • Chase Freedom points don't expire, as long as your account is open.

  • The Chase Freedom's credit limit can range from under $500 to over $20,000 and is determined by your income and credit history. The majority of Chase Freedom cardholders have credit limits between $500 and $5,000.

  • The Chase Freedom card provides rental car insurance that covers damage due to collision or theft for most rental vehicles when traveling in the U.S. and abroad. For this auto rental damage collision waiver to apply, you must decline the rental company's collision insurance and charge the full rental cost to your Chase Freedom card.

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