Chase Freedom Credit Card Review
Posted by Cap on September 2, 2008 |When you consider the myriad of rewards credit card out there, it’s no wonder Chase introduced the Chase Freedom card. With over 15 bonus reward categories and the ability to switch from cashback to point-based reward system, the Chase card is aptly named for its versatility (if not a bit cheesy and designed a bit fugly).
If you’ve had the unfortunate experience to have been subscribed to this blog for over a year, you may remember that I wrote a “preview” to the Chase Freedom card back in 2007. As promised, here’s a full detailed review for those that may be interested in a decent cashback rewards card.
Quick Facts: Chase Freedom Credit Card
- Comes in Visa Signature or regular Platinum if you don’t qualify for Signature card.
- No annual fee for either version of the credit card.
- Good to Excellent credit needed to apply, 680 to 720+ in FICO score.
- Chase will pull any of the three credit reporting agency to get your credit info.
- Variable APR with the a current APR of 14.99% (like many rewards card, a bit high)
- If you apply with FICO scores below 650, some delinquency on your credit history, and was declined, you may be able to ask for reconsideration by calling the number on the rejection letter.
- Save time and trouble by converting one of your old Chase credit cards into the Freedom rewards card.
Applying for the Credit Card
A quick scan of the credit pulls database shows that those receiving an approval without issue have 700+ in FICO score, with no blemishes on their credit history. These people generally received instant approval or approvals within a few days.
Those with some minor blemishes on their credit history and lower FICO score will most likely get the “notification within 30 day” notice, but unless you have major delinquency on your account, you should be able to get approval without issue (and especially on reconsideration).
If you have any doubts to your credit standing, you should NOT apply for this rewards card, as it is a prime card that requires good to excellent credit.
Most Chase credit cards (non co-branded ones) can be converted to the Freedom card without issue, so if you want to enjoy cashback, you can easily call customer service and ask them to convert your old Chase card into the Freedom Rewards card (my card was converted from a plain vanilla, 7.99% fixed APR, Chase Visa card into the current Chase Freedom card).
If you already have a Chase card, converting to the Chase Freedom is my recommended method to get the rewards card, as it’ll save you the hassle of applying for new credit and avoids the opening of yet another revolving account on your credit report.
Rewards Structure: Bonus Categories and Cashbacks
We’ll mostly look at the cashback aspect of the rewards card, as cold-hard cash is always better than points. With cashback, you can buy the crap you really want instead of being limited to the selections in Chase’s rewards catalog.
You earn 1% or 1 point for each $1 in purchases. You’ll earn an additional 2% or 2 point for purchases made in the top three bonus categories where you spend the most.
Bonus cashback: When you accumulate $200 in cashback, you can claim a $250 check, in essence making this card into a 3.75% / 1.25% cashback rewards card.
Merchants that fall into the bonus categories are:
- Grocery store (no warehouse clubs or discount stores, or departments of superstores)
- Gas and convenience stores
- Quick service payment/fast food restaurants
- Telecommunications
- Cable/satellite and TV/Internet service providers
- Video rentals
- Department stores
- Dry cleaners
- Drugstores
- Movie theatres
- Pet supply stores and veterinary services
- Beauty salons and spans, or gym/recreation membership
- Local and suburban commuter passenger transportations (ferries, bridges, tolls, parking garages, taxis/limos)
The trick in receiving the extra two percent in cashback (or points if you’re into that), is for the merchants to classify their merchant location as one of the following categories above.
Generally, if you’re buying groceries at a supermarket, or gas at a gas station, you’ll receive the bonus cashback without issues. However, if you buy groceries at a Walmart Supercenter, or gas at Costco, you won’t receive the bonus cashback.
Caveats: Although there are no cashback limits to regular purchases, there is a monthly $600 limit to the bonus categories; so in short, you can only earn about $18 in bonus cashback per month. If this limit is a concern, you can always supplement your cashback earnings with the Discover More Cashback Card. You should also note that the cashbacks and points on the Freedom card also expire in 36 months or 60 months, respectively.
Tracking and Requesting Cashback
Thanks to Chase’s new online account website, you can easily see your monthly cashback earnings once you’ve logged into your online account.
As you can see above, there is about $178 accumulated in my Freedom Visa card. In addition to the previous $250 check already requested, this puts my total cashback since owning the rewards card to $428. Not too shabby for a year of frivolous spending.
Cashbacks can be requested within this page whenever you reach $50 in cashback. You can also request a check at the $100 or $150 level. But you mightas well save up to the $200 level so you can request the bonus cashback of $250.
As the screenshot shows, you can also switch your rewards system from cashback to points in this online account page. This way, instead of cold hard cash to pay off the hitman, you can now save yourself some trouble and just give your in-laws Macy’s gift cards.
Visa Signature and Additional Card Benefits
The rewards card comes in a Visa Signature or regular Platinum (if you don’t qualify for Signature). Visa Signature benefits includes: concierge service, no pre-set spending limit, emergency cash disbursement and card replacement, warranty manager service, purchase security and other common credit card benefits such as lost luggage reimbursement and auto rental collision damage waiver.
The Visa Signature concierge service is provided as a complementary service by a third party, Mondial Assistance. Although I’ve initially read good things about the Visa Signature concierge service, after a few trial runs via phone and email request, I’ve found the concierge service to be nothing extraordinary.
Generally, for fast prompt response to inquiries, your best bet is to phone the Visa Signature concierge service. You can expect decent service for restaurant recommendations and reservations in major cities or travel arrangements.
If you’re emailing for information or request, make sure to clearly state what you need and the timeframe of the request as that may help speed up the response time (2 out of 4 of my email request went unanswered).
There are two benefits that are actually fairly hot: Purchase Security can potentially reimburse you up to a maximum of $500 per claim in the event of theft, damage due to fire, vandalism, etc. within the first 90 days of date of purchase. Warranty Manager Service allows for you to register a product and extend a manufacturer’s warranty for an additional year, for products with manufacturer’s warranty of less than three years.
With these two benefits, you wouldn’t have to worry about your brand new laptop being stolen within 90 days of purchase, or the battery bursting into flames six days after the warranty expires!
Online Account Usage and Features
Chase’s online account usage is actually decent and there are a few handy features you may be interested in. You can setup personalized alerts to get notification to various email accounts, text messages to cell phones on different type of scenario and conditions (account overdrawn, balance above XX amount, activity on account of more than XX amount, etc.)
Along with personalized alerts, you can also setup automatic monthly bill payment with the online account. The type of bills you can setup to pay varies from your auto insurance to your telecommunication bills. If you don’t already have automatic bill payment setup at your respective services, this will be a good place to have everything centralized, into one account — plus, it’ll help you accumulate cashback faster.
Like many other online accounts, you can view your past recent statements, check your balance, pending charges, available credit, payment status and due dates. In addition to recent statements, if you sign-up for Chase’s paper-less statement system, Chase will store your statements up to six-years. During the end of each year, you will also see a year-end summary, detailing your crazy spending.
Chase Customer Service
There are a few different methods to contact Chase if you have questions regarding your Chase card account. You can use the secure message center in the online account page, or if the matter is more pressing, you can contact Chase at the number on the back of your Chase Freedom card or the number on the credit card statement.
Depending on the time of the day, your call may be routed to the call center abroad, or you may reach a stateside representative. Issues that require more care will generally need a specific department from Chase, which are usually only available stateside and at normal business hours (for example, if you have an issue with a bill payment, you may not be able to reach help during the middle of the night).
I’ve had a situation where I accidentally made a significantly large payment to the wrong Chase Freedom card (I have two), and needed them to make the credit payment adjustment. To Chase’s credit (crappy pun not intended), the problem was resolved after two quick calls, with a prompt fix to my accounts within 24 hours.
Your results with customer service will of course vary, but as with any calls to a nation-wide financial institution, you’ll get better results during non-peak hours, which is usually prior to 9 AM or after 6 PM.
Overall Impression and Recommendation
If the Chase Freedom rewards card was a complete crap, it certainly wouldn’t be in my wallet for over a year. As a cashback card, it is fairly decent in its percentages, and generous in its bonus categories.
The $600 bonus spending limit in the bonus categories can certainly be a drag, but for many people, spending $600 in some of these specific categories can also be difficult, so the spending limit will only be a negative factor if your spending exceeds the limit. For those people, they tend to use the Freedom rewards card as a secondary cashback card, mainly to charge for specific monthly expenses such as telecommunications, utilities, or veterinary services.
If your monthly spending limit in those categories doesn’t exceed the $600 cap, then the Chase Freedom can be a good primary cashback card, if you don’t already have a better cashback credit card.
Generally, if you’re already grandfathered in a 5% cashback card, or have a card that suits your spending pattern, then you should definitely stick with that particular card, and only consider the Chase Freedom as a secondary choice.
If you already have a plain-vanilla Chase Visa card, you can easily call customer service to have them do a product swap to the Freedom rewards card. This method is recommended, as you avoid opening another revolving credit line to your credit profile.
For those that are still using credit cards that offer little in terms of rewards and cashback and pay their bills in full monthly, you should consider getting a rewards card like the Chase Freedom, or a similar rewards card that suits your spending pattern.
There is of course one major point you should take note of before getting the Chase Freedom card or any other rewards credit card. As a financial tool, credit cards can easily be a double edge sword. Along with their benefits, rewards, and convenience — they can become a real financial burden with irresponsible use.
Like many rewards credit card, the Chase Freedom has a higher interest rate than normal prime credit card with lower fixed rates. Any cashback you earned will be a moot point if you don’t pay your bills in full and accumulate interest.
Having said that, if you can manage your credit and spend wisely and you already pay your bills in full each month without issue, there’s little reason why you shouldn’t utilize the cashback from the Chase Freedom rewards card. In the long run, $428 in cashback isn’t something life changing — but man, sprining for those extra-soft toilet paper with the cashback money sure is sweet.
Update: Because Chase has changed the rewards structure of the Chase Freedom Rewards card, the ratings below have been updated to reflect the new changes. Please check Chase’s official website for finalized terms and benefits of the current Chase Freedom rewards card.
Chase Freedom Review Rating:
Cash Back: 4 out of 5
Card Benefits: 3 out of 5
Interest Rate: 3 out of 5
Customer Service: 4 out of 5
Pros:
- Good online account interface with many useful features.
- Base cashback is unlimited and bonus cashback categories are numerous.
- Claiming cashback is straight forward — redeem at every $50 level, or save up to $200 for the bonus $250 check.
- Visa Signature benefit of Purchase Security and Warranty Manager is a plus.
- With good credit, you will often be presented with prime balance transfer offer within the online account page.
- It’s a Visa card, which means it’s accepted almost everywhere.
Cons:
- Bonus cashback is limited to $600 in spending per month.
- Cashback expires in 36 months and points expire in 60 months.
- High interest rate, not recommended as a balance carrying card.
- 3% International transaction fee = don’t bother taking this card with you abroad.
Related Posts & Resources:
- Discover More Cashback Card – Similar 5% cash back card from Discover. The Discover More card currently has a $100 cash back sign-up bonus!
- My Chase Freedom Card Upgraded to Visa Signature Benefits
- Preview: Chase Freedom Credit Card
68 Comments to “Chase Freedom Credit Card Review”
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September 2nd, 2008 at 5:17 am
Whew that was longer than expected. This really shows you how I spend my holiday weekends. Hmm… I think it needs more screenshot of the online account functionality.
September 2nd, 2008 at 7:57 am
You can’t leave the first comment on your own blog… it’s like talking to yourself.
September 2nd, 2008 at 11:54 am
What makes the Chase Freedom card even better is that if you have a Chase Checking account, through their Chase Extras program, you’ll get 3% back in the top *five* categories, not just the top three. Not a huge difference, but is a nice bonus if you are a Chase checking customer.
September 2nd, 2008 at 5:17 pm
You’re overlooking the hassel of dealing with Chase. I’ve had them move my due date multiple times to ensure I’m late with an automatic online payment. They also seem to play with things so that online payments that usually take 3 days will occassionally take 8 days so that a late penalty is assessed. I have a credit score of more than 800 so I know what I’m doing, yet I can’t seem to work with Chase. They’re evil.
September 2nd, 2008 at 8:06 pm
Hi Cap,
This seems like a really naive question. I’m new to this whole “paying my entire credit card balance on time” thing. When I login to my card’s account, it says the “statement balance” is $150, but the “Outstanding balance” is $300. My actual statement says my balance is $150. So which one am I supposed to pay, the “statement balance” or the “outstanding balance”?
I’m assuming that the “outstanding balance” is equal to the “statement balance” plus any charges that have cleared after the statement close date. If I choose to just pay the “statement balance”, will I be charged interest on the difference?
Also, the card says I have a “20 day grace period on purchases”. Does that mean that even if I pay my “statement balance” on time, I will get charged interest on the difference for the extra 10 days in a month? I’m confused.
I’ve read about people paying their credit card company small amounts throughout the month to keep their expenditures from getting out of hand. But you seem to wait until the last day to pay yours. I understand why – keeping the money as long as possible in your interest-bearing savings account saves you money. But I’m worried if I charge something after the statement closes, but I wait until the next statement closes to pay for it, I’ll get charged interest. I guess I just don’t understand how the “grace period” works.
I know this sounds really basic, but you seem to have it figured out, and my statement is really just targeted at getting me to pay the minimum (so not that helpful). I want to be able to use my cards, but avoid paying even a penny in interest.
thanks!
September 2nd, 2008 at 10:36 pm
Rudie here’s a good website with your Q info: careonecredit.com/Knowledge/statement-terms.aspx
Statements = current month statement that you spent
Outstanding statements = the overall money you still owe from not paying the full amount on other statements.
20 day grace period = you have 20 days to pay the statement (at least min amount) before you are late on a payment. Make sure to initiate payment 3 business days before due date.
September 2nd, 2008 at 10:56 pm
rudie: Actually it’s a good question as it does get quite a bit confusing. But yeah, your assumption is correct. For Chase’s online account, the term “outstanding balance” means all the amount you currently owe on your credit card. Statement balance is the balance you owe on the day of the statement close date.
Grace period is the time where purchases on an ending balance aren’t charged interest if it is paid by the due date. So to better explain that, check out the screenshot I have above of my account detail.
In it, my last statement closed on 8/03/08 with a balance of $302.31, and the payment was due by 8/23/08. As long as I’ve paid the statement balance in full by 8/23/08 (20 days later), I wouldn’t be charged any interest for the balance of $302.31.
That’s the grace period. Most banks have special rules for grace period, generally requiring you to at least paid your statement balance in full for one or two previous billing cycle (I forgot what it is for Chase).
You’ll also see that I paid my statement balance on 8/07/08, four days after my statement closed, so I don’t really keep the float that long, but it really depends on how much balance I’m carrying.
Hopefully I didn’t confuse matters more, and that you get where I’m going with this.
If you have a credit card that uses the average daily balance method to calculate interest — as long as you pay your statement balance in full during each billing cycle, you should not be charged interest for whatever you buy after your statement close. That will only happen if you don’t pay those charges in full for the next statement cycle.
They’re separate charges on separate statement cycles. It does get a bit confusing since statement closing dates aren’t usually the end of a particular month… so when you think of your “monthly” credit card bill, things may get a bit hairy.
If you don’t want to loose track of things and make sure you never pay interest, just pay whatever amount you owe during the time of payment to avoid the hassle. They’re things you gotta pay eventually anyway ;)
September 2nd, 2008 at 11:00 pm
son of a gun, while typing all that out shraz answeres it simpler and gave link to something with easier numbers to explain it.
the calendar in that article should help you visualize it better. thanks for the link shraz!
jim: you should know by now that I talk to myself regardless. hah
richard: thanks for the input. I’ve actually read about that (and supposedly if you link the account, points and cashback no longer expires), but I couldn’t verify it so I didn’t include it in the review. I’ll check it out when I get around to it. double hah
tom: hmm I can understand avoiding doing business with Chase if you’re having those issues. my general rule is, if after numerous calls and attempts on my part to fix a problem that they’ve created fail, I’ll stop doing business with whatever company it is. so far I haven’t had any major issues with Chase… *knock on wood*
September 4th, 2008 at 9:39 am
This card also comes in a Mastercard variety. I have the regular Mastercard version. I don’t know if it comes in a World Mastercard version.
September 5th, 2008 at 6:21 am
I would like to know more about the concierge service
September 5th, 2008 at 7:12 am
Justin: actually it does come in the world mastercard version, as I have that version too. but I don’t think chase actively promotes it anymore though. perhaps only through targeted mailings.
September 6th, 2008 at 6:36 pm
This is my card and I really like it.
They’ve retroactively given me points for buying plane tickets and forgetting to link it to the card from their online rewards system.
September 11th, 2008 at 6:40 am
savergirl: thats actually nice of Chase to do that, I can think of quite a few companies that will simply say “too bad, better remember next time!”
September 13th, 2008 at 11:50 pm
Chase also has another Freedom card, the Freedom Plus. It does have a $30 annual fee, but you earn 3% cash back in the top 6 categories per month and there is no cap on the 3% rewards (vs. the Freedom’s $600). Chase waives the fee for the first year and the fee is waived for life for Premier Platinum/Private Client Services checking customers.
September 16th, 2008 at 9:19 am
Cap, thanks for a great review. I’m new to your site, it came up on Google when I typed in “Chase Freedom Visa.”
This offer just popped up as I was doing my Chase online banking, and I wondered if it was as good as it sounded.
I only wish you’d already done the Amex Blue review, as that was the other card I am considering (actually, that and Amex Clear).
I’m going to definitely poke around here and see what else useful I can find.
September 16th, 2008 at 10:43 am
Chris: I found out about that card after I finish writing up this review. For those that keeps hitting the monthly reward limit, the Freedom Plus can be a good card.. I’m a bit turned off by the $30 reward program fee, but I suppose 6 categories vs 3, w/ no cap on 3% is pretty decent. Thanks for mentioning it.
DD: Thanks! As long as a few people find this useful, then my memorial day weekend was well spent. hah. Unfortunately, I take my sweet time getting to my various drafts, so I don’t think I’ll finish the Amex Blue/Blue Cash anytime soon. It is a pretty decent card overall, and I’ve used Amex’s warranty extension service twice (once on a laptop, another time on another electronic gadget) and they repair/reimbursed me for both instances.
I don’t recommend Amex Clear as the card doesn’t have any significant benefits besides the touting of no fees of any kind — which is good for ppl that pay late, but just because they don’t charge you any fee, doesn’t mean they won’t report the late payments etc. to credit reporting agencies ;)
The Clear does come with other usual Amex purchasing/shopping benefits though, and the one free credit report per year is okay (although we can already get those for free, but it’s nice to have an additional free report per year I guess).
If you like, you should subscribe to my blog to get updates, and I’m sure you’ll see the Amex Blue review eventually.
September 24th, 2008 at 1:47 pm
Why would anyone open a chase checking account with zero APR returns when there is checking accounts like the one offered by Charles Schwab which offers 3% APR for your money simply lying in your checking account? Also I think this 15 categories exclude a lot of other categories that we tend to spent more.. Travel, insurances etc… Also it is disappointing that even the grocery category does not include biggies like costco and walmart.. I would think twice before taking this card… american express blue cash, in my opinion, could be even more rewarding.
September 25th, 2008 at 9:22 pm
I just received the an offer for this card but in the MasterCard variety. I do fit the type of pay-in-full and spend a good amount in one year. I could put my utilities as well so I can benefit from the cash back.
The offer mentions 3% on top 3 (out of 15) and 1% on rest. I would also get $100 on first purchase.
I am interested in this offer but I am wary as I’ve heard in other blogs that Chase kinda gives customer’s some hassle as Tom mentions.
September 26th, 2008 at 4:22 am
No way in hell I would ever have any account or product from Chase. And this card, in particular, blows. $18 per month cap on earnings? I get more than that with a rewards card I have that only pays 1% back on purchases but without the limit. Also, the rewards don’t expire. That’s also hella lame.
September 26th, 2008 at 5:00 am
Ryan: I got the same offer awhile back (hence the Freedom World MasterCard pictured above). If you don’t feel comfortable banking with Chase, I wouldn’t open an account. But I honestly believe issues like those are very “your mileage may vary.” Obviously Tom and I are both on different end of the spectrum, I never had an issue with my Chase credit card account (that I didn’t cause myself, anyway).
Nowayer: The bonus reward cap does blow, but from what you said, you’ll get an extra $18 per month if you use this card, since the 1% earning from the Freedom card is also unlimited. And if you get that much from your 1% card… you shouldn’t worry about the cash back expiring, as you should be able to hit the $250 bonus cash back pretty easily.
As mentioned, Blue Cash is definitely better for those with different spending pattern.
November 3rd, 2008 at 4:58 am
Warning about cash rewards plus program…I have used it a couple of times, but its a pain to collect the extra rewards. I have had to go back to them several times and had to ask for the rewards becasue Chase lost track of them. I bought my daughter an HP laptop through the program and Chase has refused to give the points. Basically you have to document that you used their web site along with a date so you can match it up with a purchase date, to collect the extra rewards. Then you have to remember it after 8-10 weeks and then bug them about it.
By the way, its only an extra $12 dollars. You
get 1% on everything, and an extra 2% on what ever
you buy most, and the extra 2% is limited to $12.
Yes you should pay the card off every month so the
interest doesn’t eat the rewards. I regularily
hit the $12 limit. I don’t know if there is a
limit on the extra points from the rewards plus
program, they show up as an extra line in your rewards statement.
November 14th, 2008 at 3:15 pm
Thanks for helping me figure out this card! I just got it after hitting the $300 reward limit with Citi. I definitely want that $250 check, but I’m thinking I’ll wait until I have almost enough points (which are good for 5 years) to switch the reward type to cash (which is only good for 3 years) to minimize the chance of them expiring. Would you agree? The expiring probably won’t be an issue, but my husband has not been using this card as instructed :)
November 22nd, 2008 at 2:58 pm
hey guys anyone know what this mean:
“You will be eligible for quarterly bonus rewards offers as long as (i) your account is not in default under, and/or you have not violated, the terms of your Cardmember Agreement and Rewards Program Rules and Regulations, and (ii) your statements are sent to a U.S. address.”
It seems that now the 3% only applies for the first 6 month. >>>>>:(
November 22nd, 2008 at 10:49 pm
shraz: It looks like the new card will implement a new reward system much like the Discover More card, which rotates categories of cash-back every quarter. So for example, a current quarter you may get gas, grocery, and fast food; while another quarter you may get vet, pharmacy, and utility. I currently don’t recommend the new Chase Freedom card, and hopefully they don’t kill the old reward programs for old cardholders anytime soon.
With the way the card is, I recommend the other cards highlighted above, the Blue Amex and the Discover More… as both are a much better deal.
February 11th, 2009 at 2:18 pm
I agree with Tom. I was on the phone with Chase last night about their 5 percent increase on my monthly payments and their $10.00 monthly fee to have the card effective January 1st. This fee applies even if you carry a 0 balance. My annual percentage rate jumped to 27.99 percent, all this and no reason. My credit score is 720 right now. They have no valid reason to jack the rates on me as well as charge $10 a month to carry the card. I do not carry one credit card that charges a fee. They will not work with you all they know how to say is NO! Even when I had fraudelent charges on the account you couldn’t get decent help, just the run around from one person to the next. WAMU is going to Chase starting March so anyone with a WAMU card watch your statements and I suggest you move your balances now. I will NEVER use Chase again. They are EVIL!
February 17th, 2009 at 12:17 am
Chase ain’t paying rewards as they claim. There is a cap of $12.00 on bonus purchases. When I spend over $5000 a month on my card I don’t get the 1% either. Also shopping through the online rewards program there is not suppose to be a cap. Well they only pay small amounts. That program is through a 3rd party.
February 19th, 2009 at 1:40 pm
User be wared! I was and still is Chase customer for the last 17 years but lately I had come to realization that Chase had become desperate. Their online payment could become mulfuntion at their convinience so they can charge you subtancial amount of fees: days after you made your payments, it will show that you HAD NOT made any payment therefore they can MAKE you not paying your account on time, hence the late fees and financial charges apply to your account.
I’m now had to do screen shot everytime I made my online payments. This month alone, I made payment TWICE online b/c they made the first one disappeared.
I don’t know who I should talk to at Chase after few tries. They insist there is no wrong with their system just like all the other guys like Madoff, Stanford had done before. Can anyone answer this?
February 19th, 2009 at 2:10 pm
I think it changes every month based on what you spend the most. chasefreedomrewards.com/earnmore/dynamicearn/calc
March 9th, 2009 at 4:17 pm
I would stay away from Chase altogether. Right now their bottom line is a bit ahead of Citi and BoA, but part of the “success” is best described as breach of contract. There is no point in actually reading the fine print as Chase will change it to extract as much from the customer as possible.
August 3rd, 2009 at 7:21 am
this card is the worst by far. I have had them for three years and they have royall screwed me with their customer-no-service. The rewards used to be o.k. NOW they have some on-line store sceme which is shabby at best DO NOT GET THIS CARD>>>>>> if your credit is good, get American Express Blue (%5 rewrds)
August 3rd, 2009 at 7:22 am
THIS CARD IS NOT ANY GOOD ANYMORE…used to be O.K…. now it sucks
August 3rd, 2009 at 1:37 pm
They no longer honor the $250 cash back check when you earn $200 – and even after contacting them and inquiring because I had earned $200 before the July 31st change they won’t budge…are there any good deals anymore?
August 13th, 2009 at 8:43 pm
I have this card for a year now. Recently, they reduced my credit limit even when my credit score was excellent. Reason: “used only a limited amount of your credit access line”. I have a amex card for few years now and I don’t use it for more than a couple hundred dollars and “never” had amex complained about it.
I think these are signs of things to come.
August 26th, 2009 at 7:52 pm
I applied for this card and got the “notify you in 30 days” response. I have a good credit history and was surprised when I didn’t get approved right away. It’s been two weeks and I still haven’t heard anything. I know I could be waiting for another two weeks and am wondering if anyone else had to wait for approval…and how long it took?
September 14th, 2009 at 6:44 am
This card’s online service is a big scam. No matter how carefully you are, you will get tricked one way the other. One big scam:
If you see your statement is available online and you want to make a payment schedule immediately so you won’t forget paying it. When you followed all the online procedure made a payment, you found you have a mounting finance charge in next statement. Cahse intentionally put your previous statement balance as your payment amount even the due date and “statement date” reflect current statement. If the amount is less than the current statement balance, you will charged for all the balances on your account, including this month. Even you are only a couple of dollars short. And of cause, there is no customer service.
September 20th, 2009 at 12:42 am
Too good to be true. I have enjoyed the Rewards program for years now and loved it. I recently reported a possible fraudulent charge and in the name of security, my card number was changed. I was assured that my rewards program wouldn’t change. However, I was just notified that the top three categories used before for rewards will now be replaced by rotating categories of their choice. Also, when was the last time you received $250 for $200 accumulated rewards?
September 28th, 2009 at 3:05 pm
I recently received a mailer regarding this card and expected to have an offer with a high interest rate. However, I was surprised when the offer was 5.99 + prime, so right now it’s 9.24 and 0% until Jan. 2011 according to the terms paper.
One thing I was bothered by is that they claim to offer 3% cash back. Yet, when I called in to see what the 3% categories were, the gentlemen stated that they were not setup on my account. Since it was a new account, I can deal with that for a month, but I was curious and asked what were the 3% categories for other customers and he stated ‘no one is receiving the 3% presently because we had several retailers pull their contracts’.
So…..be sure to check if they’re actually offering 3% back now.
As for me, I will probably keep the account open just in case I want to use it to hold a balance instead of just earning rewards. Otherwise, I’m going back to my Citi Freedom card which gives me more rewards and still costs me $0 in finance charges since I pay it off.
I must mention that this card may have become somewhat easier to get. I am 19 with a 679 mid-score with 4 credit cards that are all paid off monthly and I received it after review. I applied via phone and called the number every day and on the fourth day trying it stated I had been approved and gave me my credit limit.
October 6th, 2009 at 10:41 am
This used to be a good card until they added the mandatory annual fee for the rewards program. They told me they will eventually be switching everyone over to this program. $250 for $200 is over and so is the 3% in top 3 categories offer.
October 23rd, 2009 at 7:40 am
Apparently there is a new offer that I saw on Amazon.com but I don’t know if I should try it.
Chase Freedom card with no annual fee, reward points, and $50 cash back reward after first purchase. I spoke to a Chase rep to find out if the first purchase had to be over $50 and was told as long as you spent over $50 it could be on different purchases. Now after reading these comments, I wonder if it is a good idea to trust them. Amazon also offers a Amazon.com Visa card (with Chase bank) with a $30 cash back. What do you think?
December 5th, 2009 at 9:54 pm
Wisespender: This is somewhat of a late response, but I saw a similar offer during a checkout at Amazon too. I don’t think you need to worry about not getting your initial $50 back bonus. But I will only apply for a new credit card if you really will be using the new card to take advantage of its cash back or rewards. A “free” $50 is nice and all, but you’re most likely better off avoiding unnecessary credit lines vs. getting a $50 bonus.
On the other hand, if you don’t have a better cashback card than the Chase Freedom, you might want to consider it. The current offering from Chase (in terms of 3% back for gas, home improvement, and department store — isn’t too bad (especially if those are places you shop at frequently). Remember, cashback and reward cards are a moot point if you don’t pay your balance in full!
December 10th, 2009 at 9:29 pm
Like others have mentioned, I’ve had a horrible time dealing with Chase. After a decade I’ve given up. I cancelled my credit card with them and refuse to do business with them any more. The are the single worst company I’ve ever dealt with for anything.
January 12th, 2010 at 3:15 pm
Cap: Does Chase report the credit limit on your Visa Signature card to the credit bureaus? I have an AAdvantage Visa Signature card from Citi, and neither its credit line nor “highest balance” are reported to the credit bureaus, thus making this card useless as far as improving my credit score is concerned. In fact, not only does this card not help improve my score, but it also makes it worse by hurting my usage ratio. I’ve read that this is a side effect to the no pre-set spending limit “feature” of Visa Signature, World MasterCard, and some AmEx cards. Do you have this problem with your Chase Freedom card?
February 24th, 2010 at 5:05 pm
Chase does not report the credit limit on the Signature card, because of the no preset spending limit “feature”. I found this card to be useless for my credit score and closed the account. I have two other credit cards which actually show up on my credit report so what’s the point in having this card… Dealing with Chase is a pain!
March 17th, 2010 at 11:10 am
@LL – one way to get around this no preset spending limit or where the issuer does not report the credit limit to the credit score bureaus is to max out your card one month and the npay it off the next. Your credit report will take the highest usage as your credit limit. Your score will be hurt for one month with a high usage (100%) but subsequent months will be better. The issuer might even raise your limit based on your usage.
July 7th, 2010 at 10:37 am
I have had a Chase Freedom card for almost three years, and I pay my balance in full every month. They recently tacked on an annual fee to this card for some reason (it’s not a Freedom Plus card, unless they’re just trying to force me into that category). I am going to call and see if I can get it straightened out, but I’m pretty upset that they would “reward” a good customer by making me pay more (though I guess I’m not really “good” to them if I’m not paying interest). This definitely makes me hesitant to stick with Chase…
July 27th, 2010 at 8:39 am
I noticed some changes in my Freedom Card. They switched my cash back rewards to points rewards.
When I called customer service, they said the cash back option was no longer available and Chase is switching to points rewards.
Do you have the same problem with your card?
July 29th, 2010 at 9:14 am
I just spoke with Chase to express my displeasure with the new Freedoms Rewards program. You have to call or go online every quarter to sign up for the revolving categroies that offer 5% cash back which is a hassle. I just learned today (read the fine print on terms and conditions) that you will not receive the additional 4% until 8 weeks AFTER the qualifying quarter has ENDED. So, 20 weeks after the category begins you FINALLY get the extra rewards. What a lousy program. I’m sure Chase is hoping most people won’t bother.
October 4th, 2010 at 3:35 pm
I used this card for the past 6 months. I have excellent credit (800) and a 6-figure income, but they wouldn’t increase my credit limit past $3000. Worse, they couldn’t tell me on the phone why they wouldn’t increase my limit. There are better cards with more responsive customer support out there. I decided to cancel the card because it’s just not worth the hassle.
November 20th, 2010 at 2:40 pm
New account sign up for $200 worth in bonus points after spending like $800 in 5 months. Total scam. Called upon receipt of new card and they say doesn’t exist. Cancelled immediately. Hate scam advertising.
January 16th, 2011 at 7:08 pm
Yes, the Chase Freedom card was retooled and you now earn “points” rather than cash. I have 2 cards, and one was automatically moved onto this new points system about 6-8 months ago, and I wasn’t happy, but I called Chase and they assured me that my second card would not change to the new program. But, low and behold, I was notified about 3 months ago that my second card was going to be moved to the system. Sucks that you can no longer get a $250 check for redeeming $200. I also think they give you less rewards in general on the new system, but it is certainly difficult to figure out the exact rewards amounts.
February 11th, 2011 at 12:18 pm
I would recommend to anyone considering a Chase card that they seriously reconsider. I’ve been a customer for 12+ years, never late on a single payment, never over my limit, with a 700+ credit score. After calling Chase to ask them to consider lowering my rate considering that I was a good customer, they quickly said ‘no’ and that they would in fact be lowering my credit limit from $22k to $2670, just $100 over my balance. What a great way to treat your good, loyal customers. And now, just a month later, they advised that they are closing my card at the end of the month. For absolutely no reason. I’ve been a great customer and this is how they respond? Never late, never over the limit, with a good credit score. Terrible service. I’ve researched the issue online and this is happening to thousands of other people that have been good and long-time customers. I would never, ever, ever recommend Chase or any of their services to anyone.
March 26th, 2011 at 12:08 pm
this is the worst credit card ever…. they have indians overseas who handle all customer service inquiries. terrible service, reading right off the damn script. never going to trust jp morgan. bank of america all the way
March 28th, 2011 at 5:20 pm
i applied onlone for the chase freedom card and i have not heard any word about, if i was accepted or not, when i filled out on line, it said your application has been accepted. so i was just wondering if i could get an update if i was accepted or not. thank you sincerly
patricia capelotti
April 4th, 2011 at 6:51 pm
I received the offer for $200 dollar bonus for signing up but then read the fine print that it doesn’t apply if you are already a cardmemeber. So, having a couple of chase cards (that I never use) I don’t think I can get the offer. But after reading all of these comments, and having family members hating chase too, I would never want to get another chase card again anyways. I’m reminded of how crappy they are, and how screwing their cardmembers is their specialty. Too bad they took over wamu. I feel sorry for anyone that has them. Personally, I like discover but would consider a new bonus card if it came with a good bonus and wasn’t chase.
April 21st, 2011 at 8:07 am
I have freedom and slate for 2 years paid on time not using the card over 30% of the credit and suddenly they decide to cut my credit line from 3.5k to 1k and from 5k to 1.5k. I’ll keep the card but won’t be using them a too much . not a good card
May 9th, 2011 at 7:59 am
Cap, great review, one question though. I’m new to the whole credit card thing in general, and w the $600 limit thing, does that mean I shouldn’t go over $600 a month on spending…or is that w rewards. I was confused a bit on that one
May 26th, 2011 at 1:23 pm
The current (2nd Qtr 2011) 5% bonus rewards is on “home improvement, lawn & garden and home furnishings”. I emailed Chase support via their website about rewards that weren’t posting for two April transactions with Williamson’s Nursery. Their verbatim written response was “The purchase made in April through Williamson’s nursery is categorized by the merchant as ‘Florists Supplies, Nursery Stock, and Flowers’ hence it does not qualify for the 5% cash.” Um, and what exactly are you planting in your garden Mr. Customer Service Guy?
The emails have been going back and forth and had actually started with me asking if they could send an accounting to help me better understand which transactions had triggered the bonus points so I could confirm I’m getting the points I’m expecting. It can be hard to keep track of the bonus points, since there is a delay on the bonus points posting on some of the statements, yet in other months they seem to post in the same statement as the purchase. Chase is being very resistant about providing me with the detail so I can keep track of all of this on my own and are asking me to let them know which specific transactions I’m questioning.
I know lots of people hate Chase but I have five cards with them and have had a decent relationship with them since 2003. I love to play the rewards game, buying nothing but BP gas on my BP card to get the 5% there and all Amazon purchases on my Amazon card to get the 3% there, etc. I pay all of my cards in full every month, and managing five cards with Chase isn’t difficult since I can see all five on the one webpage and all five are due on the same date, give or take a couple of days. The only problem I ever had was when I tried to pay one month’s bill by paying half of it from one checking account and half of it from a second checking account, and because I was trying to schedule both payments on the same day, it wouldn’t allow me to make the second payment so I got hit with the interest for not paying my balance in full that month.
I also have two of the Citi Thank You cards (regular, and preferred), but their rewards redemption ratios aren’t as enticing. 10,000 points will get you a $100 gift card (meaning each point is worth 1 cent), but to get $100 in cash, you would need a whopping 16,000 point (driving the value of a point down to $0.0063). And to get a $10 gift card costs you 1,500 points.
With the Chase Freedom account, I like the occasional bonus gift cards – for example I was able to get a $25 AMC Movie gift card for only 2,000 points. But if I’m going to have to fight with them to get the points, I’m not sure that it will be worth it.
June 16th, 2011 at 11:17 am
So I understand this card is for people who generally pay the full balance each month, but what is the policy if I pay, for instance, 30-40% for a few months until I’m caught up and then begin paying the full amount?
June 16th, 2011 at 11:45 am
I wish to further clarify…
I have heard that it is actually better for your credit rating to keep some balance on the card and make payments on time, but not necessarily the full amount (more than the minimum as well). I’m trying to find out if this card is an exception to that idea?
June 29th, 2011 at 3:28 pm
I guess chase has minimum wage workers as credit analysts. All they say is that I ran it through the SYSTEM and it says stuff.
I was pleasantly surprised with Huntington Bank. Their credit analysts are sensible and they do a person to person review to better help them :)
Now I am afraid to use Chase card after what I have been put through even though it has better rewards.
August 8th, 2011 at 2:38 pm
just got my card last month seems like a good card :)
September 9th, 2011 at 9:43 am
I had a Chase BP Visa card (started out as Amoco), paid my balance in full each month on line. Then one month I went on line to pay and discovered that they had changed my due date and charged me $30 late fee and interest. I called to complain and was told “Too bad, that is their right to change the due date.” I told them to close my account, thinking they wouldn’t want me to do that but they just said “OK.” Don’t think I will ever get another Chase Card.
September 17th, 2011 at 9:13 am
Have a new Chase Freedom credit card — have been trying to find the correct website to sign up for online credit card account, but have not been able to find right spot. Please advise where and how I can estblish this acct so I can view current transactions, payments, etc. Thank you.
December 26th, 2011 at 11:26 am
@Martha, just visit Chase.com and look for the orange button call “Set Up Online Access” – under the headline “New to Chase Online?” (Its slightly buried away so I can see how certain people might miss it).
February 10th, 2012 at 2:53 pm
I have this card. I’ve had fraudulent charges on this account twice in the last sixth months. In the most recent instance I called a week ago when I received a notification that there had been questionable activity. I was told there was no issue with my account. Someone proceeded to charge my account from all over the country all week long. The last time this happened Chase sent me three different letters telling me they were reversing fraudulent charges that were not fraudulent. Terrible customer service. Terrible security. The good cash awards don’t make it worth it.
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