One of my favorite cash back credit card offers has always been the Chase Freedom® card, primarily because of the initial bonus offer combined with a great cash rewards program and low APR if you apply with excellent credit.
The Chase Freedom® card provides all new Chase cardholders a $100 statement credit after spending $500 during the first three months. You cannot currently own any Chase credit card in order to receive this offer as this is only for new customers.
An equally impressive feature of the Chase Freedom® is its rewards program, offering 5% cash back on select purchases every month and 1% cash back on all other purchases. Like other cash back programs, the 5% cash back categories change every three months. Each quarter, a maximum only the first $1,500 spent in these categories can earn the 5% cash back (meaning a max of $75 saved each quarter), with the regular 1% cash back earned in these categories thereafter. In addition you need to activate your 5% cash back categories each quarter.
These are the current 5% cash back categories, lasting from October 1, 2013 to December 31, 2013:
- Select Department Stores
Last but not least, the Chase Freedom® card has no annual fee, which is impressive considering the amount of money one can possibly earn from the rewards program. There is a 0% APR introductory offer on purchases and balance transfers for 15 months. After that, the APR will vary with the market based on the Prime Rate and is currently 13.99% to 22.99% variable, depending on the cardholder’s credit history. The more impressive your credit score, the lower your interest rate.
Taking into account how long most big bonus offers stick around, the Chase Freedom® could disappear very quickly. If you’re in the market for a new credit card, consider the best cash back credit card offered in a long time. Visit the Chase Freedom® credit card to find out more or open an account.
Updated September 15, 2013 and originally published April 13, 2011. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.