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 balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 15 months, which is longer than the average 0% APR period of 12 months.
• 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 16.49% up to 25.24%.
• 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.
• 3% Balance transfer fee. Chase Freedom charges a fee of up to 3% on balance transfers, if you transfer the balance within 60 days of opening the account. After the introductory period, the fee is 5%. For example, a balance of $1,000 could cost up to $30 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:

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.

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?

Chase Freedom has a variable purchase APR that ranges from 16.49% up to 25.24%. The card has a variable balance transfer APR that ranges from 16.49% up to 25.24%. It also has a variable cash advance APR of 26.49% .

What are the Chase Freedom fees?

The following fees apply to Chase Freedom:

• There is no overlimit fee

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.