Chase makes the “Chase Freedom” Card Even Better
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I was reviewing my credit card statement for my Chase Freedom card, and I was excited to note that it appears that Chase has made the card even better.
The Chase Freedom Card
One of my favorite credit cards for the last year has been the Chase Freedom Visa Signature Card, which offers 3% back in your top three of fifteen categories, and 1% back on all other purchase. What makes the card even better is that if you wait until you have $200 in rewards, they will throw in an extra $50, effectively raising your potential rate of cash back. With no annual fee, it has quickly become one of my favorite credit cards.
The fifteen categories from which your top three can come from on the Chase Freedom Card are:
- Department Stores
- Gas & Convenience Stores
- Beauty Salons/Spas
- Fast Food
- Video Rentals
- Utilities
- Drugstores
- Telecommunications
- Gym Memberships
- Dry Cleaners
- Grocery Stores
- Cable/Satellite TV
- Movie Theaters
- Pet Supply Stores & Veterinarian Offices
- Local Commuting
Chase makes it even better
Chase recently introduced a new program called “Chase Exclusives” designed to encourage customers to open Chase checking accounts. With the “Chase Exclusives” program, if you have a Chase checking account, you are entitled to the following perks:
- The Chase Debit Card Rewards Program
- Up to 0.25% off a Chase mortgage
- Better rates on Chase Certificates of Deposit
- Up to 1% off private student loans
- Up to 0.50% off Chase home equity loans
- Free retirement review
- Up to 0.50% off Chase auto loans
- Earn triple points in your top five categories on your Chase Freedom Card
It is that last benefit that is most exciting to me. If you have a Chase checking account, then your Chase Freedom Card automatically gives you 3% back on your top five categories. Just as Chase promised, this was automatic — my statement already shows me earning 3% back in my top five categories, which for last month included Drug Stores, Gas & Convenience Stores, Grocery Stores, Local Commuter Transit, and Quick Service Restaurants.
So do you open a Chase Checking Account?
This worked out great for me — I already had a Chase checking account. But if you don’t have one, is it worth it to open one? That’s obviously what Chase is going for with this promotion. Their checking account products are similar to those at most major banks — the most basic checking account requires direct deposit to waive any sort of monthly fee. I think its important to look at your own situation to find out what works for you, but I suspect in many cases it is worth it to open the Chase checking account to complement the Freedom card if you can find a way to waive the monthly fee on the checking account.
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