The Up-and-Coming Nature of the Chase Freedom Card

The Chase Freedom credit card is one of the most popular cash back credit cards on the market. Available to customers with excellent credit, which is considered to be 750 to 850 according to Kiplinger, criteria other than an excellent credit score are taken into consideration. These factors include your job status and history, your income level, and your debt-to-income ratio.

Applicants with excellent credit and good income but a high level of debt may not qualify for the Freedom card. Credit card churners have caused Chase to institute tighter restrictions on the issuance of their cards so if you have multiple Chase cards already, you may not be approved for a Freedom card.

The Freedom card offers a 5 percent cash back program on a variety of purchases, which vary quarterly and have a 6,000 dollar annual limit. During the first part of 2015, the 5-percent categories were groceries, movies, and Starbucks. In the second quarter, the categories were restaurants and selected retailers.

Card rewards can be redeemed, at the cardholder’s option, for rewards other than cash. Cardholders can use their rewards to shop at Amazon, or for auto rental, airfare and hotel expenses, or for selected gift cards. The Freedom card’s low price guarantee is an attractive feature that ensures you always get the lowest price on your purchases.

The sign-up bonus is impressive. After spending 500 dollars in the first three months, cardholders receive 150 dollars credited to their card. Add an authorized user within that same three months and earn an additional 25 dollars. When the new user spends 500 dollars in the first three months, the primary cardholder will receive 100 dollars credited to his or her card.

Purchases other than those in the 5 percent cash back categories earn 1 percent with no limit. As long as your account remains in open and in good standing, the rewards do not expire. There is no annual fee for this card.

Chase Freedom’s balance transfer program is attractive also. All purchases and all balance transfers are at 0 percent for the first 15 months; there is a 3 percent balance transfer fee with a 5 dollar minimum for all balance transfers.

There is no over limit fee, cash advances are available and there is a 3 percent foreign transaction fee. The Freedom card has a smart chip and U.S. cards are hybridized, that is, they contain both a chip and a magnetic stripe. The Chase Freedom card is good throughout the world and offers additional periodic promotions and benefits to its cardholders.

For all the above reasons and more, the Chase Freedom card is one of the most attractive credit cards available. However, it is a tool and must be used wisely. Balances on the card after the 15-month, 0 percent interest period are subject to steep interest charges and the hefty 35 dollar late fee is certainly an incentive to pay your bill on time.

Since the Freedom card has one of the most attractive benefit programs on the market, this card, which has been available for several years, remains one of the most popular. Even though Chase’s Sapphire Preferred or the Ink Plus cards have attractive benefits, the flexibility of the Freedom card proves more appealing to some. More information and a comparison of these three cards can be found here.

As with all financial institutions, some customers love this card and some don’t. Customer service at Chase is similar to customer service anywhere: the quality of service depends on the agent who answers the call. However, the majority of Freedom cardholders report being satisfied with the service they received.