Want Free Money? Get a Chase Freedom® Card

Who doesn’t like free cash?

Anyone?

Believe it or not, the Chase Freedom® Card will give you free money simply for signing up.

The best part? Chase Freedom is one the best cash-back credit cards available. You’re not signing up for a garbage credit card just to get some cash back. Let’s look at how it works and why this is a card that you should consider having even if they didn’t offer any free money.

Free Bonus Cash With Chase Freedom®

NOTE: You’re probably thinking something like this:

So a credit card company wants to give me some “free” money? Yea… right. What’s the catch?

That’s understandable. Credit card companies have the stigma of preying on the uneducated or those in a financial bind. While certainly, part of that is true, it really isn’t all bad if you use credit cards wisely. (Paying interest would easily wipe out the bonus cash back pretty quickly… so don’t carry a balance.)

Technically, yes. But it is so small that it shouldn’t even matter for most people.

Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening. Plus, earn 5% cash back on combined gas station and grocery store purchases (excluding Target and Walmart) on up to $12,000 spent in the first year.

So there is a catch: you need to spend $500 on the card. But that’s only $167 per month if you stretch it out over 3 months. For most people that is at least what you would normally spend on groceries. (Just make sure you get your $500 in spending in the first 3 months one way or another.)

Even better: you won’t be spending any money on an annual fee. (That is one of the worst catches in the credit card universe.)

Earn Cash Back With Chase Freedom®

Earn unlimited 1.5% cash back or more on all purchases, like 3% on dining and drugstores and 5% on travel purchased through Chase.

While you don’t get 5% cash back on everything (a common misconception with 5% cash back credit cards) these are some great categories. Everyone buys gas and groceries. (And if you’re like me, 5% cash back on holiday shopping is awesome!)

Risk of Credit Card Bonuses

Signing up for a credit card just to get a credit card bonus probably isn’t worth it. However, getting a great cash back credit card plus a free $150? That’s a win in my book.

However, the one risk is that you end up charging more than you would have otherwise as you seek that $500 spending needed just to get the $150 in cash back. Or that you’ll make extra trips to the grocery store just to get that 5% cash back.

The easiest way to avoid overspending on credit cards — for any reason — is to simply use the credit card like a debit card. Your spending is based off of your budget and you don’t pack in extra purchases just for a little extra bonus cash back. (Remember, 5% cash back means you overspent by 95% if you buy things you don’t really need!)

Make sure to check out our top credit card guides for more card options:

• Best 0% APR and Balance Transfer Credit Cards

• Best Business Credit Cards

• Best Cash Back Credit Cards

• Best Travel Credit Cards

The opinions of commenters below are not approved or commissioned by the bank advertiser or this website. 

The Bottom Line

In conclusion, the Chase Freedom® Card emerges as an outstanding option for those looking to maximize their cash-back rewards without being burdened by annual fees. While there is a minor caveat of requiring a $500 spend within the first three months to unlock the $200 bonus, this target is reasonably attainable for most users, equating to typical monthly grocery bills.

The card’s tiered cashback system, offering up to 5% in select categories, adds significant value, though users should remain mindful to avoid unnecessary spending just to chase rewards. By approaching this card with a strategic mindset and disciplined spending habits, cardholders can reap substantial financial benefits, making the Chase Freedom® Card a commendable choice in the crowded field of cash-back credit cards. Ultimately, this card stands out not just for its initial bonus, but for its ongoing value to the everyday consumer.

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