Chase Freedom®
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This popular no annual fee Chase Visa card offers 5% cash back in categories that rotate every three months. If you don’t like being tied down to just a few bonus categories, the Freedom gives you opportunities to earn on different purchases throughout the year.
Highlights & Features
Rewards
- 5% cash back on Lyft purchases (through March 2022)
- 5% cash back on rotating categories, up to $1,500 in spending each quarter, then 1%
- 1% cash back on all other purchases
INTRODUCTORY BONUS
$150 cash bonus after spending $500 on purchases in the first 3 months after account openingBalance Transfers
A balance transfer is a way to move credit card debt from one credit card to another with the goal of saving money on interest.
| Intro Balance Transfer APR | 0% Intro APR on Balance Transfers for 15 months |
| Regular Balance Transfer APR | 16.49% - 25.24% Variable |
| Balance Transfer Fee | 3% when you transfer during the first 60 days of account opening, with a minimum of $5. Then, either $5 or 5% of the amount of each transfer, whichever is greater. |
Fees
| Penalty APR | N/A |
| Late Fee | Up to $39 |
| Returned Payment Fee | Up to $39 |
| Additional Cards Annual Fee | N/A |
| Foreign Transaction Fee | 3% of each transaction in U.S. dollars |
Cash Advances
Borrowing cash on your credit card is a cash advance. Cash advances usually come with very high fees. Even worse, cash advances can signal to lenders that you’re being irresponsible with money.
| Cash Advance APR | 26.49% Variable |
| Cash Advance Fee | Either $10 or 5% of the amount of each transaction, whichever is greater. |
Chase Freedom®
Highlights
- 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
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49 – 25.24%.
- 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℠
ABOUT THE ISSUER
Chase
Chase has several card types depending on your needs.
Manage your Account & Pay your Bill
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Credit card issuer's websiteThe Chase Freedom is a Visa cash back card that offers 5% cash back in select categories, which rotate every 3 months. You’ll get that rate on the first $1,500 spent per quarter in those categories, after which it drops to 1% back.
If you find yourself making purchases in these categories every year, the Freedom card could be a great addition to your wallet. Take note that you’ll need to activate the 5% bonus categories every quarter.
Here are the recent 5% cash back bonus categories:
| Quarter | 2019 Categories | 2020 Categories |
|---|---|---|
| January – March |
|
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| April – June |
|
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| July – September |
|
TBA |
| October – December |
|
TBA |
Along with all that you’ll still get 5% cash back on Lyft purchases, through March 2022.
There’s also a $150 introductory cash bonus, which you can get by spending just $500 in the first 3 months after account opening. This card is issued as a Visa Platinum if your credit limit is below $5,000. If your credit limit is $5,000 or above you’ll get a Visa Signature, with slightly upgraded benefits.
You’ll get a 0% introductory APR on both purchases and balance transfers for 15 months, quite a nice offer on a rewards card, with a 16.49% - 25.24% Variable APR after that.
This card features contactless technology, allowing for quick tap-and-go payments.
For a similar card that offers 1.5% cash back on every purchase you make, check out the Chase Freedom Unlimited Credit Card (Review).
