Chase Freedom Card Review (2019)

Money Makers

Posted On Dec 26, 2019 By admin With Comments Off

Chase Freedom( r )

5% back

rotating categories

annual reward

integrate levels

with Ultimate Rewards placards

Annual Fee:$ 0

Apply Now

If you’re into earning tops through credit card spending, you shouldn’t be earning only a single extent per dollar consume. Very you should be earning anywhere from 1.5 -5x degrees on all of your spending.

This is done both by maximizing the points you’re earning for non-bonused spending, as well as by having credit cards that give valuable bonus categories, which can often earn you 2-5x items. Thanks to a combination of using the liberty posters for everyday spending and the claim posters for bonus lists, I’m earning an average of over three points per dollar spent.

In this post, I wanted to take a closer look at a popular no annual reward placard that earns up to 5x stages on spending.

Chase Freedom Card Basics

The Chase Freedom( r ) is one of Chase’s two “Freedom” placards, and augments any of Chase’s placards deserving Ultimate Rewards phases. The placard offers either 1x or 5x sites per dollar spent.

The value you get from those targets varies greatly based on what other posters “youve had”, though. For example, at a minimum, those pitches can be exchanged for one cent each, and at best they can be converted into Ultimate Rewards extents, which I value at 1.7 cents each.

Chase Freedom Sign-Up Bonus Offer

The Chase Freedom has a sign-up bonus of 15,000 bonus times after expend $500 within three months. That’s marketed as $150 cash back after spending that sum, though there are many methods you can redeem those points.

Card Eligibility

The Freedom Card is not available to those who currently have this card, or previous cardmembers that have received a brand-new cardmember bonus on the card in the past 24 months.

Here are general rules on applying for Chase cards.

5/24 Rule

Chase has something that’s known as the 5/24 power. With this, you typically won’t be approved for the card if you’ve opened five or more new placard accountings in the past 24 months. So if you do apply for this card, make sure you’re under that limit.

Here’s how to check your 5/24 status.

Chase Freedom No Annual Fee

The Freedom Card has no annual cost. You are also welcome to contributed sanctioned consumers at no additional cost, so that you can earn compensations for their spending.

Chase Freedom Card Compensations Structure

There are certain lists where you’ll was intended to employed spending on the Chase Freedom, and other lists where you won’t was intended to. Let’s take a closer look at those.

Chase Freedom 5x Qualities In Rotating Quarterly Categories

What induces the Freedom Card so great is that it offers 5x pitches in rotate quarterly categories. Card members who register can pay 5x pitches on the first $1,500 they spend on blended acquires in those categories each quarter.

This concept is intended to keep cardmembers involved, and volunteer some extraordinary payoffs for spending in certain lists. Clearly, the value of these categories will vary by consumer per one-quarter, since not everyone has the same spending patterns.

Here’s the Chase Freedom calendar, that’s always updated with the most recent developments bonus categories.

How To Register For 5x Degrees Bonus

Earning the 5x moments does require registering every quarter. Registration ever opens on the 15 th of the month prior to starting that one-fourth, and stays open until the 14 th of the last month of the quarter.

In other commands, the fourth one-quarter bonus rolls from October 1 through December 31, and you’d need to register between September 15 and December 14. Registration is easy, and merely asks penetrating your last name, last four digits of your card, and zip code.

chase

How To Track Your Spending

The Chase Freedom limits you to earn 5x qualities on the first $1,500 waste each quarter in eligible lists. This is based on cumulative spending in all categories that are bonused that one-quarter. In other statements, if the bonus category is for grocery stores and dwelling increase accumulates, your first $1,500 of combined spending would be counted.

To track how much you’ve spent that fourth, log into your Chase online account, adopt your Freedom Card, and then you’ll hear a association that allows you track your honors for that quarter.

It just goes to show a scale of$ 0 to $75 back( in such a case $ 75 is equal to 7,500 parts ). So that will tell you how far along you are to maximizing the category.

Credit cards

1x Points On Other Purchases

For buys outside of the quarterly bonus categories, or for obtains above the $1,500 quarterly limit, you give 1x parts per dollar spent. Personally, I wouldn’t settled that spending on the card, because that’s not a great return.

3% Foreign Transaction Fees

While the Freedom Card is great for the 5x phases lists, be aware that the card has 3% foreign event fees, so I don’t recommend consuming this poster outside the US. If you’re looking for a great card with no foreign event fees, consider the Chase Sapphire Preferred( r) Card or Chase Sapphire Reserve( r) Card.

How To Maximize Chase Freedom Card

The Chase Freedom is marketed as render currency back, and you’re earning anywhere from 1% cash back on daily acquisitions( which isn’t competitive) to earning 5% cash back in the rotating quarterly categories( which is great ).

There is a trick that will get you even more value, though.

Turning Currency Back Into Ultimate Rewards Points

While the Freedom is a cash back placard, the card pays levels, and those extents can be converted into cash back at a rate of one cent per point.

However, if “youve had” the Freedom in conjunction with a poster that deserves Ultimate Rewards details, then suddenly you can pool your points, and those get the full power of Ultimate Rewards. These cards include the following 😛 TAGEND

Chase Sapphire Preferred( r) Card( review) Chase Sapphire Reserve( r) Card( review) Ink Business Preferred( sm) Approval Card( review)

Transferring parts between cards is easy and can be done online. You can learn more about that process in this post.

Redeem Ultimate Rewards Points For 1.25 to 1.5 Pennies Towards Travel

There are a couple of ways to redeem Ultimate Rewards degrees. The first is that you can redeem Ultimate Rewards points towards the cost of a wander purchase through the Chase Ultimate Rewards website 😛 TAGEND

If “youve had” the Chase Sapphire Preferred or Ink Business Preferred, qualities can be exchanged for 1.25 pennies each towards a cros purchase If “youve had” the Chase Sapphire Reserve, stages can be redeemed for 1.5 cents each towards a traveling acquire

That mounts the value of your points by 25 -5 0% right there.

Carry-over Ultimate Rewards Stages To Airline Spouse

Personally, the acces I are happy to redeem Ultimate Rewards extents is to transfer them to airline and inn marriages, which include the following 😛 TAGEND

AirlinesHotels

Aer Lingus Aer ClubIHG Rewards ClubAir France/ KLM Flying BlueMarriott Bonvoy British Airways Executive ClubWorld Of HyattEmirates Skywards Iberia PlusJetBlue TrueBlue Singapore KrisFlyerSouthwest Airline Rapid Rewards United MileagePlusVirgin Atlantic Flying Club

This can be the best way to exchange points towards premium travel ordeals. If you want to exchange for first or business class expedition or stay at luxury inns, this option is for you.

Freedom Card Benefits

For a no annual reward poster, the Chase Freedom offers a pretty good welcome bonus, and the 5x stages categories can be hugely valuable( since I appreciate Ultimate Rewards pitches at 1.7 cents each, I is of the opinion that as being the equivalent of 8. 5% back in those categories ). There are some other perks to be aware of 😛 TAGEND Extended Warranty Protection

You can extend the time period of U.S. manufacturer’s warranty by an additional year, on eligible guaranties of three years or less.

Acquisition Protection

You’re considered for new obtains for 120 periods against impairment or stealing of up to $ 500 per demand and $50,000 per account.

Ascribe Journey

With Chase Credit Journey you get unlimited access to your credit compose and more. This is free for Chase customers.

Shoot Offerings

One of the great features of Chase cards is access to Chase Offers, which provides savings on buys with various kinds of retailers. The planned wasn’t launched that a long time ago, but have now been saved me a significant amount of money.

Contactless Pay

The Freedom pieces contactless spend technology. This means you can pay using your card without even swiping it when you are watch the contactless wage symbol.

Is The Freedom Card Worth It?

While I have the Freedom Card, this isn’t my go-to card for everyday spending. In my opinion, it could perfectly make sense to get this placard, but merely as part of a larger credit card strategy. This shouldn’t be your credit card for everyday spending.

Here are some things to consider regarding the Freedom Card 😛 TAGEND Tip: Complement The Freedom With A Sapphire Card

I can’t emphasize fairly that if you’re going to get the Chase Freedom, do so in conjunction with either the Chase Sapphire Preferred, Chase Sapphire Reserve, or Ink Business Preferred.

Any of those placards will increase the value of the points you’re earning significantly.

Quick Comparison: Freedom Vs. Freedom Unlimited

People often get confused about the difference between the Chase Freedom Unlimited( r )( review) and Chase Freedom. Both posters have no annual rewards, so what are the major differences between the cards?

The Freedom Unlimited offers 1.5 x parts on all purchases, so is great for everyday spending The Freedom offers 5x qualities in revolve quarterly categories on up to $ 1,500 of spending per part, so it’s great if you spend money in those categories, but otherwise isn’t that useful

While I have both posters, I envision the Freedom Unlimited is the more well-rounded card, given that it offers 1.5 x sites in all categories.

Why The Freedom Card Is Getting Less Valuable

While I reflect the Freedom Card is well usefulnes having, I also think it’s worth acknowledging that in some ways the card is becoming less valuable over experience. That’s not because the card as such is getting worse, but rather because other placards are getting better.

We’ve seen the ethic proposition of spending on numerous placards improve greatly over the past few years, to the point that the incremental stages you make with the Freedom may not be as great as it used to be.

So while people used to only deserve an average of maybe one point per dollar spend , nowadays a lot of people are making an average of three( or so) levels per dollar squander. As a ensue, the incremental appreciate of giving 5x spots with the Freedom is lessened somewhat.

Best Currency Back Card Alternative

I know a lot of people use the Freedom Card as their go-to card for everyday spending, thinking that it’s a good currency back card.

If you’re looking for a currency back poster with no annual fee, I’d recommend the Citi( r) Doubled Currency Card( review ). The card has no annual cost and proposals 1% currency back when you make a purchase, and 1% money back after you paying off that obtain. Most beings could come out ahead abusing this compared to the Freedom.

Freedom Card Summary

I beloved Chase Ultimate Rewards, and the Freedom Card “ve been a big” add-on to that placard portfolio. I have the Freedom Card, and desire it for the ability to maximize 5x details in rotate quarterly categories.

Personally, I wouldn’t use this as my go-to card for everyday spending, though. So perfectly get the Freedom in conjunction with the Chase Sapphire Preferred or Chase Sapphire Reserve, but otherwise, if you’re looking to earn reinforces on your everyday spending, consider something like the Chase Freedom Unlimited or Citi Double Cash instead.

If you want to learn more about the Freedom Card or apply, follow this tie.

Apply Now

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