Chase Freedom Review

Chase Freedom is a cashback credit card issued by Chase Bank. If you're wondering whether Chase Freedom is the right card for you, read on. This is everything you need to know to make a good choice.

Key takeaways:

• Revolving rewards categories: You'll earn 5% cash back each quarter on up to $1,500 in combined purchases in that quarter's bonus categories. These categories include grocery stores, gas stations, and department stores.
• Generous reward rate. You will get a cashback rewards rate of up to 5%.
• Earn 5% cash back on everyday purchases. This is higher than the average reward rate (1% cash back) for everyday purchases.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 15 months.
• Signup bonus. Offers a signup bonus of $200 if you spend $500 within 3 months.
• Competitive APRs. Chase Freedom has a variable purchase APR that ranges from 14.99% up to 23.74%.
• No annual fee. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
• 5% Balance transfer fee. Chase Freedom charges a fee of up to 5% on balance transfers. For example, a balance of $1,000 could cost up to $50 in transfer fees. The minimum fee is $5.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Gas rewards. Earn up to 5% for every $1 you spend on gas.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, emergency support, extended warranty protection on purchases, purchase protection, travel accident insurance, trip cancellation insurance, and fraud protection.
• Fair or better credit required. You stand a chance of qualifying if your credit score is not below 640.

Chase Freedom Pros and Cons:

The Good

The Bad

You can earn $50 cash back for each referred friend that gets approved for the card. Lower than average purchase APRs. 0% APR on new purchases during the first 15 months. No annual fee. Multiple credit card perks. Offers auto rental collision damage waiver. Extended warranty on purchases. Free access to your credit score. Travel accident insurance. Trip cancellation insurance. Cardholders can earn rewards on every purchase. Earn rewards on every purchase. Chase Freedom reports to multiple credit bureaus. Cardholders can earn rewards on their purchases.

Charges a foreign transaction fee of 3%. Charges a 5% balance transfer fee.

Is there a Chase Freedom cash back or rewards program?

Chase Freedom is a cashback card. This means you earn a percentage of your purchase as a cash reward. With Chase Freedom you receive 1% cash back on every purchase. For example, if you buy a $1,000 laptop, you will receive $10 back in cash. However, you can earn up to 5% for purchases in a bonus category.

Chase Freedom Rewards

Rewards rate (all purchases)	1%
Max rewards rate	5%
Annual rewards limit	N/A
Signup Bonus ($)	$200
Signup Bonus Spend Requirement	$500
Signup Bonus Spend Period (months)	3 months

What are the Chase Freedom benefits?

Chase Freedom provides the following benefits:

• Free Credit Score
• Auto Rental Collision Damage Waiver
• Emergency Support
• Extended Warranty Protection
• Trip Cancellation Insurance
• Zero fraud liability
• Travel Accident Insurance
• ID Theft Protection
• Reports to major credit bureaus

What are the relevant APRs for Chase Freedom?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. Chase Freedom has lower than average purchase APRs.

Chase Freedom has a variable purchase APR that ranges from 14.99% up to 23.74%. The card has a variable balance transfer APR that ranges from 14.99% up to 23.74%. It also has a variable cash advance APR of 24.99% .

What are the fees for Chase Freedom?

The following fees apply to Chase Freedom:

• There is no overlimit fee

Chase Freedom Fees

Fees	Amount
Annual Fee	$0
Overlimit Fee	$0
Foreign Transaction Fee	3%
Returned Payment Fee	up to $39
Late Payment Fee	up to $39

Does Chase Freedom report your account activity to credit bureaus?

Chase Freedom reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

How to apply for Chase Freedom

• Visit the Chase Freedom website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.
• If you're denied click here to find out why your application may have been rejected and what you can do about it.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.