Credit Cards

Chase Freedom: Rotating quarterly 5X bonus card

Chase offers a variety of cards for different types of users. The Chase Freedom is a no annual fee credit card offering bonus cash back in categories that rotate every quarter. It is resembles the Discover (student) IT card but without the cash back match at the end of the first year.

Sign Up Bonus

What this card does offer however is something more valuable and flexible – Ultimate Reward Points. Sign-up bonus for this card is either $150 or 15,000 UR pointson spending $500 in purchases in the first 3 months of the account opening. 

Just like the discover IT card, the Freedom card offers rotating quarterly categories such as: Department stores, Gas stations, restaurants, Chase pay and a few more.

You can earn 5% across spends in each quarter up-to $1500 after which you earn 1%. Every dollar spent in a qualifying bonus category expenses will earn you 5 UR points (5% cashback). For all other purchases, its 1 UR point or 1% cashback.

Chase Freedom Calculator

The Breakdown

Why is this better than the discover card which offers the same 5% cash back and match at the end of first year you might ask?

Well, if you are under the Chase 5/24 rule and later on decide to get one of the Chase Sapphire cards, you can transfer points to the other account to avail a 1:1.25 or 1:1.5 return on value for Preferred and Reserve respectively.

By meeting quarterly spends, you can basically redeem your points for free round-trip flights across the US as covered here. Additionally, you may see other ways to redeem Chase UR points here.

You may also create what’s called the Chase Trifecta which we cover here (to maximize point earning).

Ways to Redeem

1 UR points in the Freedom account when transferred to the CSR/CSP  is worth 1.5x/1.25x respectively now.

1 UR points (freedom) = ¢ 1(freedom)

1 UR points (freedom) = ¢ 1.5 (CSR

1 UR points (freedom) = ¢ 1.25 (CSP)

1 UR Point = ¢ 3 (transfer Partner)

Reasons to get Card

Getting the Chase Freedom card after 6-8 months of getting your discover card can be very beneficial to you in many ways.

  1. They quarterly categories can compliment one another to maximize the value you derive from your everyday spends.
  2. You have built a decent score in the 12 months (provided you pay off all your balances in full every month) and Chase is more likely to approve you as a trustworthy borrower.
  3. You can make benefit for the $150 sign-up bonus by spending $500 over 3 months which you anyways will do.
  4. It is a no-annual fee (free) card to hold and keeping it for long term will boost your credit score.
  5. It is more likely Chase will approve you for their other cards when they see you are already their member.
  6. Get Rental Collision Damage Waiver insurance included with this card.

Want to apply for the Chase Freedom ? You can hit the apply button and you will automatically be re-directed to the application page.

Using the link provided helps support the website and helps us reach out more to people who seek advice and guidance.

Alternative Chase Card

Additionally, if you do not wish to think about quarterly bonuses and want a constant high 3% or 3x back per dollar spent, consider checking out the Chase Freedom Unlimited.

17 comments on “Chase Freedom: Rotating quarterly 5X bonus card

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  3. I got my discover card recently. Should i or shouldn’t i apply for this card now? Or should i wait for 6 months?

    • I would recommend waiting for 6 months so that your discover card enables you to build a reliable credit record for future applications. In the meantime, you will receive a FICO score that you can check in your discover app.

      I would encourage you to checkout the Freedom Unlimited card as well and the details can be found here (https://www.referyourchasecard.com/m/18/6L5/FWRD/1554597091)

      But patience is key to building a good profile. You may apply to the unlimited card now and follow-up with them to see if they approve you for a low credit line. It doesn’t hurt you to apply.

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