Chase Freedom: Why the Hell Not?

Chase Freedom<sup>®</sup> Visa - $200 Bonus Cash Back

You should have the Chase Freedom card, especially as a new applicant since you'll be eligible for the $200 bonus promotion!  But, don't just take my word for it.  Let's consider this card objectively:

ADVANTAGES

  • Consistently shows up in my quarterly list of credit cards to maximize the cashback you can be earning from credit cards (Q4 2011 Post).
  • $200 bonus if you spend $500 in your first 3 months.  That's 40% cashback on those purchases! THIS IS A LIMITED TIME OFFER!  APPLY NOW
  • 5% cashback on quarterly rotating rewards. 
  • 1% cash back on all other purchases.
  • Better than the Discover® More Card! 
    • Discover has very low limits on their 5% rewards ($300/qtr).  Compare this to Chase Freedom's $1,500 cap.
    • Discover runs a tiered system.  You actually earn .25% cashback on your first $3,000 of spending each year.  It's only at $3,000+ that you get 1% cashback.  Chase Freedom has no tiering.
  • No annual fee to offset your cashback.  
  •  5% cashback on charitable giving this quarter!  This is your chance to give to your favorite charity, get the tax write-off AND get 5% cashback.

 

DISADVANTAGES

  • Remembering to sign up for quarterly rewards is a pain in the ass.  However, Chase Freedom does make it easier by sending mailers, text messages, or emails if you request a reminder.
  • Remembering what the quarterly rewards are is a pain in the ass.  Yes, it is.  That's why you should favorite my quarterly post on which cards to use!  🙂
  • You can do better than 1%.  Specifically you can do 100% better by going for one of two 2% cashback credit cards that I like.
  • It's more rare with Chase that you can redeem points for discounted gift cards whereas this is pretty common practice over at Discover.

That about sums it up.  I have the card.  I use it exclusively for the 5% cashback reward categories, and of course I never carry a balance!  APPLY NOW

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