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The Chase Freedom® Visa - $100 Bonus Cash Back
Chase Freedom® Visa - $50 Bonus Cash Back and
Chase Freedom® MasterCard was last reviewed on 2nd August 2010
Summary - I just got my Chase Flexible Rewards Card converted to the The Chase Freedom® Visa - $100 Bonus Cash Back, and in this review, I will reveal the full scoop on his rewards program (note that Chase has different versions of this card that differs mainly on sign up bonuses and whether it is a Visa® or MasterCard®).
Rewards - This card has been through several changes in their rewards. Compared to what other cards are offering now, I must say that the rewards are actually not bad. You can choose to redeem your rewards for cash or other rewards. At its core, you earn 1% rebate (or 1 point depending on how you look at it) for every dollar that you spend on the card. You can earn unlimited rebates. But if all this card were to give was 1%, then it wouldn't be very good. But there is a lot more.
Rotating Categories - Rather than paying more than 1% on certain expenses like it used to, this card now pays
5% rebates on categories on a 3 month rotating basis. For example, in spring, the categories were home improvement, lawn and furniture purchases. From June till September, it is travel, hotel, car rentals and gasoline purchases. You can earn rebates on up to $400 in spending.
Discounts at merchants' online store - Chase has taken a leaf from Discover and now offers cardholders the chance to shop on their online shopping portal and get discounts (or rebates) when they shop through their Chase account. Shopping through the Chase account allows the merchants and Chase to track your purchases and give you the rebates. Below are screenshots of their merchant partners.
Rewards - Travel - You can redeem points for travel items. There are several ways to do this. Firstly, you can book your travel through Chase's online travel booking site. By doing so, you can use a combination of points and cash to pay. You can also transfer points into gift cards for Continental OnePass Miles. Below are screen shots of one of their travel partners.
Rewards - Gift Cards - You can redeem points for gift cards. Below are their gift card partners.
Rewards - Merchandise - Like most other programs, there are also lots of merchandise to redeem with your points and you can donate points to charities as well. But since there are so many merchandise, I will not list them here.
Fees - This card has no annual fee.
Verdict - One of the things that stood out in the rewards was the flexibility to get cash rebates and use points the traditional way as well. Most dedicated cash back credit cards allow you to earn use cash rebates. And though most reward cards allow you to redeem points for cash, the payouts are not as good. The Chase Freedom® Visa - $100 Bonus Cash Back is a great card for those who want the flexibility to earn both cash rebates and use points for other stuff like travel rewards. New cardholders get a $100 cash back bonus after their first $799 in purchases within three months. For those looking for a balance transfer deal, the Chase Freedom® Visa - $50 Bonus Cash Backoffers new cardholders a 0% Intro APR* on balance transfers for 12 months. You will earn $50 in cash back bonus after your first purchase. For those of you who are a little picky and want a MasterCard, Chase also offers the Chase Freedom® MasterCard.
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