Pros and Cons of the Chase Freedom Credit Card


People in search of a rewarding card might want to look at what Chase has to offer.

The Chase Freedom Credit Card is one of the most valuable offers by Chase.

Here’s what you need to know before getting this card.

Chase Freedom Credit Card Features

The most important feature of the Chase Freedom Credit Card is its cashback program. This card allows you to earn 5% cashback for purchases amounting to $1,500 in bonus categories for each quarter that you use your card. You can also earn an unlimited 1% cashback on all other purchases.

Chase Freedom Credit Card APR, Interest Rate & Fees

Cardholders can have an annual percentage rate of 17.24% to 25.99% variable. This APR can fluctuate depending on the Prime Rate that prevails in the market. The card does not have a minimum interest charge.

The Chase Freedom Credit Card minimizes fees by eliminating the annual membership fee. However, keep in mind that the bank charges penalty fees, such as late payment fees.

Chase Freedom Credit Card Pros

One of the advantages of this card is the $150 bonus given to cardholders when they have spent $500 on any purchase. This is only applicable within 3 months after the card issuance. The bank also offers a relatively low APR when you apply for the card. In fact, the introductory APR is 0% for the first 15 months from your account opening.

With regards to the cashback rewards you accumulate, the best thing is that the amount will not expire. This means that you can keep on accumulating more without being compelled to redeem your rewards. During redemption, you also do not have to worry about a minimum redemption amount.

Chase Freedom Credit Card Cons

As mentioned, the card offers a 5% cashback bonus. However, keep in mind that this is only applicable if you activate your bonus every quarter before the deadline. Moreover, your rewards will not expire, but it is important to remember that you can lose all of your accumulated cashback if your account status changes or if the account is closed due to misuse, fraud, failure to pay bankruptcy, and other similar reasons.

Chase Freedom Credit Card Eligibility

Only individuals who are 18 and above are eligible to apply for this card. Before your application is granted, the bank will evaluate your employment, income, and financial status. As such, you will need to submit your gross annual income amount, along with other documentary requirements.

Chase Freedom Credit Card Application Process

To start your application, you can check out the full details, then simply fill out an application, which can be found on the Chase Bank website. You will need to provide identification, contact, and financial details.

Chase Freedom Credit Card Credit Card Limit

The bank will base your credit limit on your creditworthiness. Depending on the results, your credit limit can be $500 to $5,000.

Chase Address and Contact Information

To get in touch with the bank, you can reach their customer service representative at 1-800-432-3117 or mail them for general correspondence at Card Services P.O. Box 15298 Wilmington, DE 19850.

What Next?

Interested in getting this card? Just head on to the Chase website to start your application. You can also visit a branch near you.

Note: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions page for more information.