The Chase Freedom purchase APR is 0% for the first 15 months and 16.74% - 25.49% (V) after that. The Chase Freedom balance transfer APR is 0% for the first 15 months and 16.74% - 25.49% (V) after that.
Chase Freedom’s ongoing APR is a range because different people get different rates. It depends on how “creditworthy” Chase thinks you are. The “(V)” at the end stands for “variable” and tells you the APR can change based on the economy. Chase Freedom’s APR range has risen in recent years due to changes in the Federal Reserve’s target interest rate.
Chase Freedom also has more than just purchase and balance transfer APRs. And the others are worth investigating, too.
2018 Chase Freedom APRs:
Intro APR: 0% for 15 months on purchases and balance transfers
Regular APR: 16.74% to 25.49% (V), based on creditworthiness (purchases and transfers)
Cash Advance APR: 26.74% (V), plus a 3% fee
Maximum Penalty APR: 29.99%
Chase can increase your Freedom card’s APR to the penalty rate if you don’t pay your bill on time. It’ll apply to purchases made after the change, unless you’re 60 days delinquent, in which case it applies to your existing balance as well.
Chase can also raise your regular APR whenever they want. They just have to give you 45 days’ notice.
The Chase Freedom APR is the same as that of its companion card, Chase Freedom Unlimited, which offers 1.5% cash back on all purchases rather than bonus categories.