Chase Freedom Credit Card Review – $100 Sign Up Bonus

Chase Freedom 5 percent cash backThe Chase Freedom credit card is one of my favorite credit cards. In fact, I still use it today. Here’s the quick review followed by a deeper analysis of the credit card.

Chase Freedom Pros

  • 5% Cash back categories (on up to $1,500 in purchases in bonus categories each quarter)
  • $100 Sign up bonus (after $500 in purchases in the first three months of account opening)
  • 1% cash back on all other purchases
  • No annual fee
  • 0% Introductory rate for 15 months.

Chase Freedom Cons

  • You have to keep track of rotating categories
  • Must enroll in bonus category cash back each quarter
  • Bonus category spending limits

Overall Rating

Great card for beginners looking to take advantage of credit card sign up bonuses. Amazing value with no annual fee.

The Deep Analysis Review

The Chase Freedom credit card is the first credit card I ever signed up for in order to earn a sign up bonus. Ever since that day I’ve been addicted to finding the best credit card deals to take advantage of. I’d  recommend this credit card any day of the week anyway, but right now is a great time to take advantage of a special promotion that Chase is running.

Sign Up Bonus

The Chase Freedom sign up bonus is currently valued at $100. All you have to do is spend $500 in purchases within the first three months of opening your account! Pretty sweet deal for spending money you’d spend on groceries or gas anyway.

Bonus 5% Cash Back Categories

Other than the initial sign up bonus, the Freedom card has a lot of great rewards options. They have rotating 5% cash back categories such as restaurants, gas stations,, Lowe’s Home Improvement stores and movie theaters.

You do need to keep track of which categories are currently the bonus categories. You’re limited to $1,500 spending per quarter in bonus categories as far as the 5% cash back goes.  You do have to make sure to enroll in the bonus categories each quarter or else you won’t receive the extra 4% cash back.

Some quarters will have great categories that you use constantly while others might have categories you never spend in. The key is to make sure that you continue spending like normal and don’t allow the categories to alter your spending. You don’t want to spend a dollar just to “save” 4 cents.

Base Cash Back Percentage

If you do spend in any other category, you’ll still earn the basic 1% cash back that many other cards today offer. There are no limits on how much you can spend or earn. There are other cards that have higher cash back percentages for everyday spending, but 1% seems to be the standard for the rotating bonus category cards.

No Annual Fee

Pretty much enough said here. No annual fees make me happy!

0% Introductory Rate

Currently, the Chase Freedom offers a 0% introductory rate for 15 months on both purchases and balance transfers. Be careful, though. Balance transfers carry a $5 or 3% fee of the amount transferred, whichever is greater.

Redeeming Rewards

Redeeming rewards with the Chase freedom card is super simple. You can redeem your points for statement credit, a check, for gift cards, merchandise, experiences or travel. You can also transfer your Ultimate Rewards points to a Chase Sapphire Preferred credit card for even more redemption options, including transferring points to partner airline and hotel programs.

The Final Verdict

chasefreedomvisaIf you’re looking to get into the rewards credit card game, this is a great starter and every day rewards credit card. It has a decent sign up bonus, no annual fee and great regular and bonus cash back rates. Like I stated in the beginning, I still use this card today even though I am currently earning some of the bigger credit card sign up bonuses out there.

Do you have the Chase Freedom credit card? If so, what is your favorite thing about it? If not, what questions do you have that I may be able to answer for you?

Don’t Forget – Credit Cards Aren’t A Toy

Credit cards aren’t a toy. They are something that should be taken very seriously. If you have any credit card debt or if you ever carry a balance on your credit cards, I recommend that you stay far, far away from rewards credit cards, or all credit cards for that matter. They charge higher interest rates and you’ll pay more in fees and interest than you’ll earn in rewards. Consider yourself warned!

The information in the article is accurate to the best of my knowledge as of January 21st, 2014. It will be periodically updated as offers change. As with any offer, make sure to read all of the details on the application site as those are the terms and conditions that will govern any credit card you sign up for. What you have read here is simply a summary and does not contain all terms and conditions. If you sign up for a credit card through any links on this page I may receive an affiliate payment for you signing up. Thank you for supporting this site!

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About Lance Cothern

Lance Cothern, a Certified Public Accountant (CPA) licensed in the Commonwealth of Virginia, is the founder of Money Manifesto. You can read more about him here or connect with him on Facebook, Twitter, Google+ or Pinterest.


  1. Nice! We both have one of these. I’ve pretty much churned through all the Chase cards….moving on! =)

  2. Great review. I love this credit card – it’s the one I’ve used the most over the last few years.

  3. This is our base card and we love it. Awesome that they increased the sign-up bonus!

  4. Absolutely love this card. Wish I could take advantage of the new sign up bonus.

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