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UPDATE: The Chase Freedom® is not open to new applications; it has been replaced by the Chase Freedom Flex℠. This new card combines some of the best features of the Chase Freedom® and the revamped Chase Freedom Unlimited®. Check out our full review here.
The Chase Freedom® is one of a handful of rewards cards straddling fixed-value and transferable rewards. As a standalone card, the Chase Freedom® is a cash-back rewards card featuring 5% cash back on quarterly revolving bonus categories and 1% on all other purchases.
- 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter.
- Unlimited 1% cash back on all other purchases.
When combined with points from one of the Ultimate Rewards cards that charge an annual fee, you can redeem those points for a higher fixed rate via the Chase Travel Portal, or transfer them to Ultimate Rewards hotel and airline partners to achieve much higher returns.
Earning Potential and Category Bonuses
The Freedom Card earns 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter, awarded as Cash Back Rewards Points. Bonus categories change every three months, and you need to activate the new categories each quarter for purchases to qualify. If you max out the $1,500 spending cap each quarter, you'll score 30,000 points (7,500 x 4) each year.
All purchases outside of bonus categories and purchases that exceed the $1,500 quarterly cap earn a flat rate of 1%. If you can't capitalize on the bonus categories, you'll achieve a better return on spending from the Chase Freedom Unlimited®, which earns 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1.5% on all other purchases.
And right now, the Freedom Unlimited has made earning even more lucrative for new cardmembers with an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back. That's 6.5% on travel purchased through Chase Ultimate Rewards®, 4.5% on dining and drugstores, and 3% on all other purchases.
- INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
- Enjoy 6.5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
- After your first year or $20,000 spent, enjoy 5% cash back on Chase travel purchased through Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
- No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
- Member FDIC
- Earn 5% on travel purchased through Chase
- Earn 3% on dining at restaurants
- Earn 3% on drugstore purchases
- Earn 1.5% on all purchases
If you also hold an Ultimate Rewards earning card allowing transfers to travel partners, you can combine points from the Freedom Card and redeem them for higher fixed-values via the Chase Travel Portal. Or, you can shoot for even greater redemption value by transferring your combined points to airline and hotel partners.
Current Chase Freedom 5% Bonus Categories
The current 5% bonus categories for the Freedom Card for October to December 2023 are wholesale clubs, select charities, and PayPal.
While these categories are rather straightforward, Chase supplies a handy list of qualifying purchase categories and merchants alongside specific exclusions.
The Ultimate Rewards Card Family
| Card | Point Value when Booking Travel Through Ultimate Rewards | Points Transferrable to Travel Partners |
|---|---|---|
| Chase Sapphire Reserve® | 1.50¢ | Yes |
| Chase Sapphire Preferred® Card | 1.25¢ | Yes |
| Ink Business Preferred® Credit Card | 1.25¢ | Yes |
| Chase Freedom Flex℠ | 1.00¢ | No |
| Chase Freedom Unlimited® | 1.00¢ | No |
| Ink Business Unlimited® Credit Card | 1.00¢ | No |
| Ink Business Cash® Credit Card | 1.00¢ | No |
Feature Benefits
The Freedom Card doesn't pack the same stellar features as a premium travel rewards card, but for a card charging no annual fee, you can extract plenty of value. Highlights include:
- Ability to combine points with other cards in the Ultimate Rewards stable and redeem for a higher value. See our post on building the ultimate travel rewards combo for more details
- Earn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening.
- Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter. Unlimited 1% cash back on all other purchases.
- $0 annual fee
- 0% Intro APR on Purchases for 15 months and 0% Intro APR on Balance Transfers for 15 months from account opening followed by a Variable APR of 16.49% - 25.24%.
Application Restrictions
Something to take into account before applying for the Freedom Card card is that it's subject to Chase's rigid application restrictions, including the 5/24 policy. If you've opened five or more new credit cards in the previous 24 months, it is highly likely you won't be approved for the Freedom Card—more details in the linked post. Chase also restricts applicants to 1 personal credit card and 1 business credit card every 90 days. So, space any card applications accordingly.
Final Thoughts
If you're a cash back fan and can max out the bonus categories each quarter, or you hold an Ultimate Rewards card that allows transfers to travel partners, you can extract a great deal of value from the Freedom Card.
As the card charges no annual fee, there is no cost to holding the Freedom Card long term. So, take advantage of the revolving bonus categories when and where you can.
The $150 welcome bonus is excellent for a no annual fee card. But, before applying, ensure you calculate the opportunity cost of acquiring this card against some of Chase's premium offerings and using a valuable 5/24 slot in the process. You can achieve huge returns from premium Ultimate Rewards earning cards like the Sapphire Reserve, and Sapphire Preferred, provided you take advantage of the full benefits available.
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
This was my first card sooooo many years ago. I had considered closing it since I hadn’t used it for years, but kept it open just so I could enjoy the larger available credit I had on my report. I honestly never would have picked it up again had it not been for this blog. I’m so excited to be using my cards effectively (and intelligently) and CANNOT wait to book my first rewards redemption!
Chase Freedom was my first card some 10 years ago even before the bonus categories rotated. They used to give 3% for gas year round. I wish they kept it this way
I was debating between this card and the Amex cash back blue card. I think because of the chase pay and Apple Pay also being included in the bonus spend it’s an easy decision!
Great card with good, regular 5x categories. Recommended.
Really hard to get max out the bonus on some quarters and even if you do, its only 75 back max per quarter. Only reason I keep this card is it is free and its old so have a big credit limit which helps keep my overall credit usage down. Probably not worth the overhead to pay the bill some months since it only nets me a few dollars back and just easier to consolidate on my citi double or csr.
Better if you have 3 or 4 of ‘em. Even if it’s just used on grocery that one quarter it’s available, that 3-4*7500 of you can small time liquidate into MOs. 20-30k isn’t major, but it’s a pretty good yearly bonus
Great card for any wallet!
Every household should have at least 1 Freedom card just for the rotating category bonuses. If you ever feel the need to cancel your Chase Sapphire Reserve or Chase Sapphire Preferred card, then best to downgrade that into another Freedom card.
I need this card! Ugh 5/24.
The Freedom was an awesome card Jan-Mar with apple pay. Hopefully more retailers take chase pay as well.
Thanks for the update!
Yup, you can usually prepay your phone and internet bills to max this bonus out!
Might have to get this card!
It is a solid addition to any Ultimate Rewards earning strategy
I make a few payments to cover my TV, internet and phone I don’t use (but it’s cheaper with it) for most of the year, a few days ago for the 5% bonus.
Great update of the info!! Thanks!
I just love the 5% bonus categories and that you can transfer points to the Sapphire Reserve card.
Does this card sometimes have a higher sign up bonus than the standard $150?
Off the top of my head, I remember a 20,000-point ($200) a few years back, but I wouldn’t plan on an increased bonus anytime soon.
Worth getting extra ones of these whenever downgrading! Our household now has three, which should just about cover us for all the quarterly maximums.
Personally, I cannot imagine a person not wanting a Freedom card. Over time, my Freedom card has become one of the reliable workhorses in my wallet.
Love the info on the Chase cards! I am wary to pull the trigger due to the 5/24 rule, but getting this info helps to make a final decision.
If you put a little bit of work the 5% makes it all worth it
I was thinking about closing this one, but it seems there may be a better value to it once I jump to a fee card later. I did not know about tying them together and had assumed each had its own path to rewards. Nice to know.
Thanks for the review.
Thanks for the useful breakdown
Love the chase freedom card. Especially useful to use with the Reserve Card.
Now that they are including Chase Pay (and other mobile forms of payment) in the 5x categories, it makes it very easy to max them out with regular spend.
I’m always having to remind myself not to use it when I travel internationally since it does have foreign transaction fees.
thanks for the info
I’m envious of people who can earn miles with these cards, as they are not available where I live 🙁
This is good if you can take advantage of the 5% quarterly bonus categories.
How easy is this to upgrade to the CSP/CSR if you’ve lowered the cc limit to $5k?
It 100% depends on your relationship with Chase. You should call them and ask.
My Chase Freedom pairs perfectly with my CSR, I am happy with both.
Great card to pair with a premium UR earning card.
Amazing card, need to see a similar one in Canada!