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Chase Freedom Card Review: A Rewards Card for Everyday

Chase Freedom credit card is a cash back rewards card that allows a cardholder to earn 5% in rewards for category purchases like gas, groceries and dining. You also earn rewards for everything you buy with your Chase Freedom card. As a new cardholder you can earn 10,000 points as soon as you sign up. Getting your rewards is easy either as a check, statement credit or use your points to shop online.

Cash Back Rewards Program

The Chase Freedom credit card is targeted at individuals that want to save money for everyday purchases. The card allows the cardholder to earn cash back rewards in several ways including earning 1% in cash back rewards on everything purchased using the card. There are also bonus categories that change every three months where you can earn an additional 4% in rewards. The current promotion being run by Chase includes a $100 cash back reward when you sign up for the card and spend $500 in purchases in the first three months. The $500 might sound daunting but if you use the card for at the grocery and at the pump you will probably there pretty soon. This bonus is only open to new cardholders. There is a limit of $1,500 for each quarter of what counts toward rewards. To earn the bonus category rewards you need to activate your account on the Chase Freedom website. Another way to earn points is when you book air travel through the program booking tool providing you with one point for each $1.00 of eligible airfare. There is no limit for the number of points you can earn with the exception of the bonus category points.

Cashing in Your Rewards

There are a variety of ways to cash in your rewards points. As soon as you earn 2,000 points you can ask for your $20 check or statement credit. If you are interested in purchasing travel experiences, merchandise, electronics, gift cards, office supplies – you name it you can purchase them with your reward points at ultimaterewards.com. You can even purchase tickets to concerts or sporting events. And if you like to shop at Kohl’s then you can take advantage of an additional 5% off at Kohl’s with a limit of $1,500 between October 1 through December 31, 2011.

Features

Chase is offering a zero percent introductory APR on purchases for the first six months of card membership. There is also an appealing zero percent introductory APR for the first year for any balance transfers. The balance transfers would have to occur during the first month of membership to qualify. There is a balance transfer fee of 3% of the amount transferred. A variable APR of between 11.99% and 22.99% kicks in after the introductory period is over. The exact APR rate is determined by your credit rating. See also, Discover Card and American Express Card.