Today I will be discussing the Chase Freedom Visa credit
card. As the name implies, it is very similar to the Chase Freedom Unlimited Visa credit card as it offers a simple to understand cash back option but also
could be converted easily to Chase Ultimate Rewards points if you are more point
savvy. Also, these rewards do not expire
while the account is active and there is no minimum to redeem for cash back.
Additionally, Chase currently offers a $150 sign up bonus if
you spend $500 on the card within the first 3 months of initializing the card
and another $25 when you add an authorized user that makes a purchase within
the same first 3 months. And unlike many other rewards credit cards, this card
has no annual fee (meaning you do not have to pay to use their credit card).
However while the Unlimited card offers a flat 1.5% cash
back rate on all purchases, this card is a bit more confusing. This card offers
a 5% cash back rate on certain items and 1% cash back on all other items. These
5% cash back eligible items also change every three months.
This is easier to explain by looking at Chase Freedom’s
rewards schedule below:
For example, we are currently in the fourth quarter (October
– December) on the rewards schedule meaning we would be eligible 5% cash back for
purchases made at Walmart and at department stores, especially useful with the
upcoming holiday season. However, there is a $1,500 maximum limit in combined
purchases allowed meaning the maximum amount you could get 5% cash back for is
$75 per quarter. All purchases not covered by the rewards categories or that
exceed the maximum limit receive 1% cash back.
Depending on what you buy, you could earn more rewards using
this card. Some users try maximizing the benefits by requesting both the Chase
Freedom and Chase Freedom Unlimited and juggling their cards to use each
quarter. However, if you are like my parents, this is way too confusing and
would rather stick to the Chase Freedom Unlimited card so you do not have to
think about which cards to use at which store (especially since Chase could and
have slightly altered the categories every year). Personally, this was one of
my first credit cards and I still use it as the 5% cash back offered is one of
the best rewards out there especially with no annual fee.
For more details and to apply, please visit:
#arun #creditcard #chase #freedom
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