Chase Freedom Credit Card

Once again Chase does it again with a great credit card offer that let’s you make money, and a decent amount, for just signing up and using the card. Which by the way actually has a very attractive rewards structure.

Myself and others in the credit card industry has no idea how Chase can continue to make such an aggressive push into the rewards credit card arena without taking a hit in profitability. It seems like JPMorganChase CEO, Jamie Dimon, really wants to get back at Citi for booting hime out years ago and turning him down for the top job at Citibank. I am digressing away from the benefits of the Freedom Credit Card and this can be a topic for a later post.

Now the very good highlights of the card:

  • $50 CASH BACK after you first use your card! (cha-ching anyone?)
  • 3% cash back in 15 categories where you spend the most…you heard me 15!!
  • 1% cash back everywhere else
  • Freedom to switch from Points to Cash (get the pun?)
  • All this for No Annual Fee

Now, the most attractive feature right now is the $50 cash back for your first purchase. You can make some easy money on this credit card. However, an equally attractive benefit is the 3% cash back for 15 categories where you spend the most. This is an amazing value proposition that should not be overlooked.

But here are the cons and tricks in the fine print:

  • 1% cash back or rewards plus 2% for your top 3 categories of spend. These categories vary monthly depending on your spend, which is a good thing. But there is a cap of $600 a year for the bonus 2% cash back.
  • After you hit $600 you will go back to only 1% on all purchases. Still not bad given a lot of cards limit the annual cash back anyway.
  • Purchases made at warehouse stores, discount stores, and superstores (I assume this includes Walmart) are not eligible for bonus 2% cash back. So if you do all your family shopping at Walmart and Costco, this may not be too good sounding right about now.
  • Relatively high APR of 18.24%
  • No balance transfer of introductory offer

Since we’re a credit management blog, remember to take advantage of all that a credit card company will give you but always be aware of your spending. The high APR of 18.24% offered by this credit card means that if you frequently carry a balance, don’t take advantage of the rewards! It is amazing how quickly finance charges make rewards a lowing proposition. See my post here about this phenomenon.
Ok, so, I’m a big fan of this card and will be applying myself. Click here to APPLY NOW.

More Top Credit Card Offers Here.

Share This


Tags: , , , , , , , , ,