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Chase Freedom(SM) Credit Card Review
Issued by Chase
  
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Overall Rating:
Benefit Rating:
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The Chase Freedom(SM) Credit Card, issued by Chase, is designed for those who have excellent credit and plan to take advantage of the cash rewards program.
Through the rewards program, cardholders earn a 3% rebate on purchases made in the 3 bonus categories where they have spent the most that billing cycle. There are 15 bonus categories altogether including: grocery stores, gas stations, quick service restaurants, telecommunications, cable/satellite TV/Internet service providers, video rentals, department stores, dry cleaners, drugstores, movie theatres, local and suburban commuter passenger transportation, pet supply stores and veterinary services, utilities, beauty shops, and gym/recreation memberships. Cardholders also earn a 1% rebate on all other purchases.
Cardholders are eligible to receive a $50 check once $50 in rewards have been earned or a $250 check once $200 in rewards have been earned, which is a bonus of $50. Cardholders will also receive a $50 bonus rebate after their first purchase, balance transfer, or check transaction. Plus, they have the freedom to switch rewards to earn points instead of cash back.
In addition to the rewards program, the card also offers many cardholder benefits provided by Chase, such as travel accident insurance, auto rental insurance, and travel and emergency assistance services.
The card has no annual fee and an above average APR for purchases.
Therefore, those who plan to take advantage of the cash rewards program will benefit most from what the Chase Freedom(SM) Credit Card has to offer.
Through the rewards program, cardholders earn a 3% rebate on purchases made in the 3 bonus categories where they have spent the most that billing cycle. There are 15 bonus categories altogether including: grocery stores, gas stations, quick service restaurants, telecommunications, cable/satellite TV/Internet service providers, video rentals, department stores, dry cleaners, drugstores, movie theatres, local and suburban commuter passenger transportation, pet supply stores and veterinary services, utilities, beauty shops, and gym/recreation memberships. Cardholders also earn a 1% rebate on all other purchases.
Cardholders are eligible to receive a $50 check once $50 in rewards have been earned or a $250 check once $200 in rewards have been earned, which is a bonus of $50. Cardholders will also receive a $50 bonus rebate after their first purchase, balance transfer, or check transaction. Plus, they have the freedom to switch rewards to earn points instead of cash back.
In addition to the rewards program, the card also offers many cardholder benefits provided by Chase, such as travel accident insurance, auto rental insurance, and travel and emergency assistance services.
The card has no annual fee and an above average APR for purchases.
Therefore, those who plan to take advantage of the cash rewards program will benefit most from what the Chase Freedom(SM) Credit Card has to offer.
Review Date: September 22, 2008
Note: The review on this card was updated on September 22, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.
| Credit Card Rate Details | |
Intro Rate (Intro APR):
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No Introductory Rate Available |
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Purchase APR:
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14.99% (Variable) The APR for purchases is based on the Prime Rate. |
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Cash APR:
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20.99% (Variable) The APR for cash advances is based on the Prime Rate. There is a minimum APR on cash advances. |
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Finance Configuration:
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Average Daily Balance (including new purchases) |
| Credit Card Fee Details | |
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Annual Fee:
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$0 |
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Additional Cardholders:
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$0 |
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Grace Period:
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20 Days (Min.) |
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Late Payment Fee:
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$15 on balances up to $100; $29 on balances of $100 up to $250; $39 on balances of $250 and over |
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Over the Limit Fee:
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None |
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Cash Advance Fee:
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3%, $10 minimum |
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Balance Transfer Fee:
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3%, $5 minimum, $99 maximum |
| Credit Card Reward Program Details (Rebate) | |
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Rebate Minimum:
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1% |
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Rebate Maximum:
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3% |
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Additional Rebates:
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Earn a 3% rebate on purchases made in the 3 bonus categories where cardholders have spent the most that billing cycle out of 15 bonus categories including: grocery stores, gas stations, quick service restaurants, telecommunications, cable/satellite TV/Int |
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Rebate Details:
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Cardholders are eligible to receive a $50 check once $50 in rewards have been earned or a $250 check once $200 in rewards have been earned. |
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Expiration:
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None |
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Yearly Limit:
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None for the standard 1% rebate. (When cardholders reach $600 in monthly spending in the bonus categories, they will only earn the 1% base rebate for each additional $1 of net purchases in these categories.) |
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Bonus First Purchase:
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$50 Bonus Rebate* |
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Bonus Details:
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*Earn a $50 bonus rebate after the first purchase, balance transfer, or check transaction. **Receive a $50 cash back bonus every time $200 in rewards have been earned. |
| Features | |
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Most Attractive Feature(s):
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| Access to rewards program for no additional fee; no annual fee; $50 bonus rebate after first purchase. | |
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Least Attractive Feature(s):
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| Yearly limit on bonus rebates. | |
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Additional Features:
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| Various Internet account related services. No liability for unauthorized transactions. Lost and stolen card reporting. Emergency cash replacement. Emergency card replacement. Various travel and emergency assistance services. Travel accident insurance. Extended warranty for purchases. Auto rental insurance (Auto Rental Collision Damage Waiver). Year-end financial statement (upon request). See website for additional benefits. Certain restrictions, limitations, and exclusions apply. If an account is opened, please refer to the Guide to Benefits for details. |
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Important Notations
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| See website for complete terms and conditions of card usage and application disclosure. | |
| Additional Information | |
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Apply Online for the Chase Freedom(SM) Credit Card from Chase See other Cash Back Credit Cards See other Credit Cards Issued by Chase See other Visa Credit Cards |
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