Chase Freedom Card Review: Earn 5% Cash Back Every Day

Once the undisputed king of cash back cards, the Chase Freedom Card still has a lot to offer. Learn how you can earn up to 5% cash back in this Chase Freedom Card review!

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Editor’s Note: This card is no longer available to new members. For a similar card, please see our Chase Freedom Flex(SM) review.

Once the undisputed king of cash back credit cards, the Chase Freedom Card still has a lot to offer.

Cash back enthusiasts love the card’s earnings structure which can lead to huge cash back savings in certain categories. Plus, it’s got an easy to earn signup bonus, making it attractive to those looking for a quick buck.

Even though Chase now has an unlimited cash back version of this card, the Chase Freedom Card remains a great card to have. The points you earn can be used as true cash back, or you can pair it with a premium travel card from Chase to combine points and get access to great travel deals through Chase Ultimate Rewards. I’ve had mine for years, and it continues to occupy a spot in my wallet!

Chase Freedom Card Highlights

image of Chase Freedom CardBefore we dig into the details, here’s a quick overview of some of the Chase Freedom Card’s best features:

  • Easy to Earn Signup Bonus: You’ll earn a $200 signup bonus for spending only $500 in 3 months! That alone makes this card worth considering.
  • 5% Cash Back on Rotating Categories: Earn 5% cash back for spending on rotating categories every quarter. Keep in mind, the 5% cash back is capped at $1,500 in combined purchases.
  • Unlimited Cash Back on Everyday Spending: Earn an additional 1% cash back on all other purchases.
  • Rewards Don’t Expire: Provided you keep your card open, your cash back rewards will not expire.
  • No Annual Fee: Unlike some premium credit cards, the Chase Freedom Card does not charge an annual fee.

As far as cash back cards go, this one is nothing to shake a stick at. The easy to earn signup bonus combined with the 5% cash back on rotating categories makes it one to consider.

Where It Shines

It’s not a fluke that people love their Chase Freedom Cards, and it starts with the signup bonus.

Getting $200 for spending just $500 in the first 3 months is easy money. When it comes to signup bonuses, it doesn’t get any simpler than that!

Now, let’s talk a little about the cash back earnings.

For starters, you earn an unlimited 1% cash back on all purchases, regardless of category. Chase sweetens the pot by offering 5% cash back on rotating categories each quarter. This is subject to a cap at $1,500 in combined spending.

You can redeem your rewards for “true” cash back, use them for gift cards, or turn them in for purchases made through Your points never expire as long as your account stays open; plus, there’s no annual fee, so it won’t cost you to keep the card.

Chase Freedom Card Categories for 2021

So, what are these rotating categories? Here’s where you can earn 5% cash back in 2021:

  • January through March – Wholesale Clubs, Internet/Cable/Phone Services, Select Streaming Services
  • April through June – TBA
  • July through September – TBA
  • October through December – TBA (past categories have included department stores, Paypal, etc.)

To take advantage of the 5% cash back, remember that you need to “activate” your card each quarter.

These are all pretty practical things that you’re going to spend money on anyway, right? Use your Chase Freedom Card and take advantage of the 5% cash back!

Tips for Getting the Most From Your Card

The Chase Freedom Card is a pretty great card on its own, but it becomes even more powerful when you pair it with one of Chase’s premium travel cards.

Although you earn Chase Ultimate Rewards points with the Freedom Card, you can not transfer those points to any of Chase’s loyalty program partners. However, one of the biggest benefits of the Chase Sapphire Preferred® Card or is that you get access to the Chase portal. So, you can make your points go even further by accessing tons of awesome travel deals or transferring them to loyalty partners. (You can also do this with other premium cards like the Chase Sapphire Reserve, Chase Ink Business Preferred, and more.)

image of Chase Sapphire Preferred Card

With the Chase Sapphire Preferred Card, you’ll also earn additional points where the Chase Freedom falls short. For instance, you can earn an unlimited 5X points on travel purchased through Chase Ultimate Rewards and 3x points at restaurants. So, as long as restaurants aren’t available for the 5% bonus, you’ll earn more points with the Sapphire Preferred when you go out to eat. Plus, the card offers a 60,000 point signup bonus after spending $4K in 3 months. Use those points on $750 in travel through the Chase portal.

Honestly, this is my favorite credit card across all categories. I highly recommend you check it out.

Read the review | Learn how to apply

What You May Not Like

The Chase Freedom Card is a superb cash back card to have, but it isn’t right for every situation. Here are a few of its drawbacks:

  • Not Great for Travel: If you’re looking for the best travel credit card, this ain’t it. Although the cash back on the card can be used to cover incidental expenses, the Chase Freedom Card is not a great travel card on its own. Pairing it with cards like the Chase Sapphire Preferred or Ink Business Preferred, however, allows you to get better travel redemptions through the Chase travel portal and transfer points to partner programs.
  • More Cash Back with Other Cards: Some cards offer a larger cash back amount for everyday spending than the Chase Freedom Card.

Alternatives to the Chase Freedom Card

One of the biggest advantages of the Chase Freedom Card is the 5% cash back you can earn on rotating categories. However, for everyday spending, there are other alternatives that earn more.

Chase Freedom Unlimited Card imageThe Chase Freedom Unlimited® has been completely revamped and is likely a better fit for most people. This card now offers an unlimited 5% cash back on travel booked through Chase, 3% cash back on purchases at restaurants and drugstores, and 1.5% cash back on all other purchases.

It also offers an additional 1.5% bonus on all purchases (capped at $20,000 in spending) during the first year you have the card. That welcome offer is worth up to $300. Plus, this card also offers 0% APR on purchases for the first 15 months (19.24%-27.99% variable APR after that).

Read the review | Learn how to apply

image of capital one quicksilver cash rewards credit cardThe Capital One Quicksilver Cash Rewards Credit Card is another solid alternative. This card offers 1.5% cash back on all purchases. You’ll also be eligible for a $200 welcome bonus when you make at least $500 in purchases during the first 3 months. It also offers a nifty introductory 0% APR on purchases and balance transfers for the first 15 months (19.24%-29.24% variable APR after that and 3% fee on amounts transferred during first 15 months). To top it off, there is also no annual.

Read the review | Learn how to apply

Wrapping Up

With 5% cash back on rotating categories, unlimited 1% cash back on everyday spending, and a $200 signup bonus, the Chase Freedom Card is definitely one to consider. There’s also no annual fee, plus pairing the card with premium Chase cards like the Chase Sapphire Preferred allows you to get some great travel benefits as well.

So, if you’re looking for a great cash back card, the Chase Freedom Card should definitely be on your radar. I’ve had mine for years, and plan to keep it for many more.

Thanks so much for reading, and feel free to drop any comments or questions below!

Compare top cash back cards here.

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  1. In years past Chase sent a booklet with all the various things depicted and in ever increasing point values. That is a thing of the past. When I go to the bank, the man in the office flicks through what I had seen in my now defunct catalogues. He said I could see it on my computer also. However, when I went to “ultimate” there were dozens upon dozens of places to click. After opening a great many, none of them showed me pictures of the prizes I can get. I’m tired of just going into the bank and asking for a $25 gift card for Chili’s Restaurant, or …….! I’d like to know my options. HELP! I have a Chase Freedom card, if that helps. Thank you.

    1. Do you have an online account with Chase? You need to set one up to be able to redeem your points however you want and see all your options in one place! Holly

      1. Paula Guyer says:

        I have 9,854 pointsfor redemption Could you explain how to use them

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