Executive Summary -
After going through all the features of this card, we conclude this review with our verdict and give it a 4.4 star out of 5 rating. It is a great all round rewards card and we highly recommend it. Read further to find out our thoughts.
Now that we have gone through the features of this card, it is time to reach and verdict and assign a ratings for this card. Before we do that, I just want to state that I do have the Chase Freedom Visa version for a few years and I do know this card inside out. Here is what I really like about this card.
Firstly, I really like the 5% cash back rotating category. Some folks do not like it because you have to register every three months. But for me, that is OK. I have other cards like the Blue Cash in my wallet. So the rotating categories come in handy when there are other expense categories (that my other cards do not have ) that allow me to earn 5% cash back.
I also like the fact that I can redeem the points that I earn not just for cash back, but for stuff from their Ultimate Reward program as well. I could also use points to book travel items like airline tickets or hotel rooms from their travel portal. In fact, I could also book my own travel with other online sites or with airline and hotel sites directly, and claim a statement credit by simply calling up Chase. This flexibility makes it a great travel rewards credit card as well.
Another reason that I really like this card is that Chase has a great reward program in Ultimate Rewards. I have exchanged my points for an XBox for my son's Christmas present and also for gift cards. Both were a breeze and the products promptly delivered to my house. Furthermore, the points required for gift cards and merchandise and very fare (about 1%) compared to other reward programs.
One of the lesser known facts about the Chase Ultimate Reward program is that you can combine Ultimate Rewards account if you have a few Chase cards. And most of Chase reward cards are based on the same program. That means you can and should combine Chase cards to earn more reward points. Let's look at a few examples.
Combine Chase Sapphire Card - This is a good combination because you get to earn 5% cash back on the Freedom's rotating category while you can earn double points on travel and restaurant spending with the Sapphire version. Since both have no annual fee, it is a great way to earn more points.
Combine with Chase Sapphire Preferred(SM) Card - The "preferred" version of the Sapphire Card allows you to transfer Ultimate Reward points to airline and hotel partners. With this card, you can earn double points on travel and dining expenses. Once again, when it is combined with the Freedom card, you can earn even more points from the rotating categories.
Verdict - I will sum up by saying that this is a great credit card and you should definitely have this in your wallet even if you have other cards. It is great for both earning cash back and travel rewards. Even if you choose not to use your points for cash back or travel, the other rewards are just as good. You can also earn extra points when you shop at the Ultimate Rewards shopping mall (which I think would happen a lot during the holiday season). I give this card a 4.5 ratings for it's versatility, it's rewards program and the absence of annual fee. Highly recommended.
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