![]() You have to remember to “activate” each quarter to actually earn that 5% on the bonus categories, otherwise you’ll just earn 1%. ![]() Users have to be proactive to make the most out of this rewards structure. Earn 5% cash back on rotating bonus categories, up to $1,500 in combined spending each quarter that you activate.The Chase Freedom comes with the following rewards structure: With the superior option of the Freedom Flex on the table, it’s hard to imagine why someone would choose the Freedom instead. In September of 2020, Chase added a new card to the Freedom family: the Chase Freedom Flex℠, and it’s a jacked-up version of the Freedom.Ī Chase rep confirmed to Forbes Advisor that current holders of the Chase Freedom are even welcome to product change to the Chase Freedom Flex-which means no new hard pull on your credit report, although you won’t be eligible for the Flex’s welcome bonus. Here’s what really makes the Chase Freedom a subpar choice compared to others. Earning 1% sure beats earning nothing, but when there are a plethora of no-annual-fee cards on the market that earn 1.5% or even 2% cash back on all spending, the Chase Freedom’s 1% looks downright paltry. You could theoretically also use the card on all of your other purchases, earning 1% back on that spending. ![]() If you’re able to max out the spending limit each quarter on the rotating categories alone, you could put a cool $300 a year back in your pocket, just on spending in the bonus categories. Getting 5% cash back, even with a cap of $1,500 in quarterly spending, is a pretty good earn rate for a card that costs you nothing to carry. The Chase Freedom card used to be a decent option for anyone with the tolerance to track their spending in various categories.
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