Home Credit Cards The Benefits Of Having A Chase Freedom Credit Card

The Benefits Of Having A Chase Freedom Credit Card

Chase Freedom Credit Card… how do you recognize that name? Well, they’ve been running TV ads for a good fifteen years or so now. At the very least, that lets you know that they’ve been a fairly popular card for awhile now. But does that make it the right card for you?


Who’s it for?

The Chase Freedom Credit Card is perhaps most appealing to people looking to restore their credit score who wouldn’t mind enjoying some rewards along the way. If all you want is a bare bones cards to improve a credit score or build credit, then that will be easy enough to find, but there are relatively few cards like Chase Freedom that allow you to do that while also earning rewards.

What are the Rates and Fees?

  • APR: 15.49% to 24.24% variable
  • Balance Transfers: 0% for the first 18 months, and then it goes up to 14.24% to 24.24% variable from then on.
  • Late payment fee: Free, the first time, and then up to $37. This makes Chase Freedom a good option for first time card users who are still getting used to the idea of making their payments.
  • Annual fee: None.
  • Rewards: Up to $75/1,500 points each quarter. You typically enjoy a 1% cash back rate, but the card offers a 5% bonus in rotating categories, so you’ll want to keep an eye on their cash back calendar.

Are There Any Signup Bonuses?

Glad you asked! One of the features that has made Chase Freedom so popular is the $150 signing bonus for spending $500 in your first three months with the card. Even if all you’re doing is picking up groceries with your card, it’s easy to hit that $500 mark without overspending and collect your signing bonus. Compared to similar cards, the bonus is easier to attain and a bit more generous than usual.

The Chase Freedom credit card is a solid choice for first-time credit card holders for a number of reasons. Having your first late fee waived is a big draw, the $150 signing bonus can be a nice windfall when you need it, and the 0% balance transfer for the first 18 months is very attractive for people who don’t have a ton of extra cash to spend on managing their money.