Chase Freedom’s rewards are 1% to 5% cash back on purchases with a $200 bonus for spending $500 in the first 3 months. The Freedom card’s 5% cash back rewards apply to purchases in select categories that change every quarter. Cardholders must activate the new categories every quarter to earn the 5% bonus rate. Past 5% rewards categories have included grocery stores (except Walmart and Target), drugstores, home improvement stores, gas stations, streaming services and Amazon.com. There’s also a $1,500 quarterly spending limit for the bonus categories. Purchases over $1,500 in a quarter and all purchases outside of the bonus categories earn 1% cash back.
Chase Freedom’s rewards are marketed as cash back, but they’re actually points that you can redeem for cash back, gift cards or travel purchases at a rate of 1 cent per point. You can also apply points toward Amazon.com purchases, but you’ll only get 0.8 cents per point. Chase Freedom rewards never expire as long as your account is open.
If either you or Chase close the account, you will lose any unused points. Chase may close your account for fraud, reward program abuse, delinquent payments, bankruptcy or other reasons.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines
. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.