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Chase Freedom Credit Card
The Chase Freedom credit card, not to be confused with the Chase Freedom Unlimited Credit card, requires no fee at all, offers a 5% cash back for up to $1,500 on combined purchases in their bonus categories and 1% cash back on all other purchases. The bonus is that of $150 for the first $500 spent in the initial 3 months. It also comes with a unique Blueprint feature, a spending and borrowing managing system available only to Chase customers. Your money is deposited within 2 business days from the moment of the transaction.
The requirements to get signed up with the Chase Freedom credit card and to obtain a loan are to have at least 1 year of credit history, a minimum of 645 credit score on average with no bankruptcy or loan defaults. It also requires having opened less than five accounts during the past 2 years, be 18 years old or more and employed. Lastly, Chase doesn’t allow you getting a personal loan, i.e. taking a vacation or financing a wedding.
- 5% Cashback up to $1,500 in bonus categories
- 1% Cashback on all purchases
- Blueprint spending & borrowing management
Pros and cons
- 5% cash backs
- No limit or expiry date on cash back rewards
- $150 bonus for each $500 you spend in the first three months
- Good customer service
- Part of the Ultimate rewards program
- Purchase protection (for up to $500 worth of damage per claim)
- Extended warranties
- Low APR
- Can’t open more than 5 accounts under Chase within 24 months
- Cash back maximum of $75 every quarter*