To get Chase Freedom’s 5% cash back rate, go to the Chase Freedom 5% activation page and enter your name, the last 4 digits of your card number and your zip code. You will need to activate new 5% categories for Freedom every quarter to get the bonus rate.
Chase Freedom cardholders get 5% cash back on the first $1,500 spent per quarter in select purchase categories. Purchases that exceed the $1,500 quarterly limit will earn 1% cash back. The current Chase Freedom 5% categories (for Q3 2019) are grocery stores and home improvement stores. Purchases at big box stores like Walmart and Target are not eligible. Chase has not announced the next quarter’s categories yet, but you can always check the Chase Freedom 5% calendar for updates. You can activate an upcoming quarter’s bonus categories on the 15th of the month before it starts.
Purchases that do not qualify for the 5% cash back bonus earn 1% cash back. If you spend up to the $1,500 limit, the Chase Freedom 5% cash back categories can save you $75 every quarter. Just make sure to always activate the new bonus categories, or your eligible purchases will earn only 1%. If you’re worried you’ll forget, Chase makes it easy to set up activation reminder messages and calendar alerts.
The Chase Freedom $150 bonus is available to new applicants who spend $500 within 3 months of opening an account. The bonus posts to a cardholder’s account as 15,000 Chase Ultimate Rewards points, which are redeemable for $150 cash back. That’s a 30% return on the money spent to earn the $150 bonus.… read full answer
Even though Chase Freedom is advertised as a cash back card, it’s actually a points card like all other Ultimate Rewards cards. Each point is worth 1 cent no matter how you spend it (e.g. cash back, travel, gift cards). So the value of your initial bonus is always $150. But there are a few other things you should note before getting the card.
Chase Freedom $150 Bonus Info:
Requirement: Spend $500 in the first three months of account opening.
Eligibility: New Chase Freedom cardholders who have not earned the bonus in the past 24 months.
Ineligible purchases: Balance transfers, cash advances and cash equivalents like casino chips. Interest, unauthorized/fraudulent charges and fees also do not earn cash back.
Account standing: Your account must be open and not in default at the time the points are delivered in order to receive them.
Timeframe: It may take 6-8 weeks for the $150 bonus to show up in your account, once you meet the spending requirement.
Limited-time offer: The Chase Freedom initial bonus has been higher in the past - $200 for spending $500 in three months, for example.
Freedom is a great card for everyday spending too. In addition to Chase Freedom’s $150 bonus, cardholders earn 5% cash back (5 points per $1) on up to $1,500 spent per quarter in bonus categories. Purchases that exceed the quarterly limit earn 1%. You’ll also get 1% cash back on all other purchases.
Chase Freedom bonus categories are the types of purchases on which cardholders earn 5% cash back, up to $1,500 spent each quarter, instead of the regular 1% cash back rate. It is possible to earn as much as $300 in rewards per year by spending up to $6,000 in the Chase Freedom bonus categories. Spending that much on other types of purchases would get you just $60. The 5% cash back categories change each quarter.… read full answer
Chase Freedom bonus categories can be purchases at specific retailers or a particular type of merchant. There can be more than one bonus category per quarter, too. The Chase Freedom bonus categories for April - June 2019 are grocery stores (excluding Walmart and Target) and home improvement stores. No further categories have been announced yet, but you can check Chase’s calendar for updates. In the first quarter of 2019, the Chase Freedom bonus categories were gas stations, tolls and drugstores.
The downside to Chase Freedom’s bonus categories is that you have to activate the new ones every quarter. The good news is it’s pretty easy to do. You can activate your Freedom card’s bonus categories online, by email, by phone or at any Chase Bank location. Plus, cardholders with Chase checking accounts can activate through an ATM. As long as you activate by the end of the quarter, you’ll get 5% back for all qualifying purchases retroactively.
The categories can have exclusions. For example, 5% back on gas station purchases doesn’t apply to places that don’t specialize in fueling cars, like a boat marina. Plus, earning rewards will depend on how a merchant is categorized, which isn’t under Chase’s control.
The Chase Freedom annual fee is $0.The Chase Freedom Unlimited Card’s annual fee is $0, too. The Freedom card offers $150 for spending $500 in the first 3 months. Freedom Unlimited replaced its Double Cash Back initial bonus with 3% cash back on all purchases up to $20,000 in the first year. After that, it’s 1.5%.… read full answer
The fact that Chase Freedom’s annual fee is $0 might surprise some people. Many rewards cards cost a lot of money. But cards with 0% introductory interest rates tend to have $0 annual fees. And both Freedom cards offer 0% for 15 months on purchases and 0% for 15 months on balance transfers.
But just because Chase Freedom has a $0 annual fee and no interest for a time does not mean it’s always free to use. There’s a3% of each transaction in U.S. dollarsforeign transaction fee, for example, and the regular APR is pretty high:17.24% - 25.99% (V).
Still, having no annual fee does make the Freedom cards’ rewards seem even more valuable.
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