Chase Freedom Review – 5% Cash Back +$150 Bonus

The Chase Freedom credit card is one of the best all-around rewards cards available today. It offers up to 5% cash back, a $150 signup bonus, a 0% introductory APR on purchases and balance transfers, and no annual fee.

This card is one of my personal favorites. It offers something for everybody. It’s best known for its 5% cash back on select categories that change every quarter (more about that in a moment). What is less known about this card is its 0% introductory APR and $150 cash bonus. We’ll cover each of these features and more in this review.

Click here to learn how to apply for this and other cash back credit cards.

Chase Freedom Snapshot

  • Signup Bonus: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • 5% Cash Back: Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter
  • 1% Cash Back: Earn 1% cash back on all other purchases
  • Intro APR: 0% Intro APR for 15 months from account opening on purchases and balance transfers
  • Free credit score, updated weekly with Credit Journey
  • No annual fee

Rewards Program

There are three components of the Chase Freedom rewards program: (1) the $150 bonus; (2) 5% cash back; and (3) 1% cash back.

1. $150 Bonus: Let’s first talk about the nice bonus this card offers – $150 Cash Back. All you have to do is spend $500 within 3 months and you will earn $150 cash back.

There’s also another potential bonus that many don’t know about. Chase pays an extra $25 bonus when you add your first authorized user and make your first purchase within this same 3 month period.

2. 5% Cash Back: For rewards, you can earn 5% cash back on categories that change each quarter. These categories include gas, home improvement and department stores. They are rotating categories which change every quarter so you have to stay on top of what the categories are so you can maximize your earning.

Keep in mind that the 5% cash back is on $1,500 in combined purchases per quarter. Once you’ve charged $1,500 to the card for the 5% category, any additional purchases will earn 1% cash back.

3. 1% Cash Back: On all purchases that fall outside the 5% categories you will earn 1% cash back with no spending tiers or caps.

0% Introductory Rate

The card offers a 0% introductory rate on purchases for 15 months. This is ideal if you are making a big purchase and you know you will need some extra time to pay it off. If you need a balance transfer card then you’re in luck because this card also gives 0% on transfers for 15 months.

When you combine both the 0% on purchases and 0% on balance transfers this card is a tough one to beat. Note that there is a 3% fee (minimum $5) on balance transfers for the first 60 days only. After that the fee goes up to 5%.


The Chase Freedom offers flexible payment options and online tracking to monitor your spending. With Blueprint, your payment and money management options include the following:

  • Full Pay: With full pay, you can select the categories of purchases you want to pay in full each month. Chase will then show these purchases separately on your bill, and you can pay them in full even while you carry a balance in other categories of purchases.
  • Split Pay: For larger purchases, you can set up a payment plan, and track your progress month to month.
  • Finish It: If you want to pay off your balance, you can set up a payment plan that will help you eliminate your credit card debt.
  • Track It: The tracking feature allows you to set spending goals by category and track your progress throughout the month. For example, you can set a spending limit for groceries or restaurants, and Blueprint will track your spending throughout the month. It can even send you alerts as you near your spending goal.

Other Perks

The Chase Freedom card offers several additional benefits:

  • Zero Liability Protection: You won’t be held responsible for unauthorized charges made with your card or account information.
  • Chip-Enabled Security: Provides an extra layer of security when used in a chip card reader.
  • Purchase Protection: This protection covers your new purchases for 120 days against damage or theft up to $500 per claim and $50,000 per account.
  • Price Protection: If a card purchase you made in the U.S. is advertised for less in print or online within 90 days, you can be reimbursed the difference up to $500 per item, $2,500 per year.
  • Auto Rental Collision Damage Waiver:  Decline the rental company’s collision insurance and charge the entire rental cost to your card. Coverage is provided for theft and collision damage for most cars in the U.S. and abroad. In the U.S., coverage is secondary to your personal insurance.*

What we like about the Chase Freedom Card

  • The $150 cash bonus
  • Up to 5% cash back
  • 0% introductory APR
  • No annual fee

What could be better

  • The 5% cash back has a spending cap
  • You must sign up each quarter to qualify for the 5% cash back
  • Requires Excellent Credit

Click here to learn how to apply for this and other cash back credit cards.

Chase Freedom


Rewards Program




Customer Service


Annual Fee


Added Perks



  • Up to 5% Cash Back
  • $150 Signup Bonus
  • 15 Month 0% Intro APR
  • Free FICO Score Access
  • No Annual Fee


  • Rotating Categories