If you like earning cash rebates just for buying this you use all the time, this might be a good card for you. It has basic credit features and options, but the cash back incentive rewards program is top notch.
Most people like to carry credit cards because they are convenient and usually offer some kind of incentive. The Chase Freedom MasterCard, for example, lets you take advantage of many basic credit card benefits and conveniences as well as a few attractive cash back options that are certainly worth a look.
Rebate Incentive Program
While there are plenty of cards that offer incentive programs, many of them can be very complicated. They might offer points that are only good in certain ways or at certain times. Then their benefits aren't as impressive or as expansive. Of course, there are also cards that don't offer any incentive program at all and rely on low rates or other, more immediate features. This credit card, though, offers a simple, straightforward incentive program that lets you earn cash rebates on everything you buy.
- Earn a base of 1% cash back on all purchases without limitation
- Earn an additional 1% on flight reservations with domestic air carrier partners
- Earn an additional 4% cash back on all purchases that fall within a revolving group of categories that change every quarter (with limitations)
- Earn up to 9% additional cash back on purchases made online through the affiliate store
- Earn a $200 incentive rebate bonus when you satisfy minimum conditions in the first three months.
Basic Credit Card Function
Since this is a MasterCard from Chase bank, you will also get many other benefits that should make it easier for you to pay for the things you need and still manage your account with ease. These benefits could, in fact, save you money and time, if you just know how to use them. Basic Freedom features include:
- No annual fee. Ever.
- Fair variable interest rates on both standard purchases and balance transfers (based on qualifying credit)
- Cash advance options (which usually have a different interest rate than purchases and transfers)
- Use your card overseas to pay in the local currency and avoid currency exchange (pay a small fee per transaction)
- 21-days free of interest when you pay your balance off in full before the end of the grace period
Basic Fees And Penalty Schedule
All credit cards charge a handful of basic maintenance or processing fees as well as penalty fees. These are very common and there actually laws in place now that limits how much credit card companies are allowed to charge you in fees. Still, you can expect to find processing charges for a few basic features. Generally, you will be required to pay either a small percentage or a small flat dollar amount, whichever is greater, for the following action.
- Balance transfers (either)
- Cash advances (either)
- Foreign transactions (flat percentage of total sale)
Again, penalty fees are also common. These are charges intended to deter irresponsible account management by penalizing you for violating certain contract stipulations. Penalty charges are usually a flat dollar amount and might include:
- Making a late payment; fee varies based on existing balance
- Exceeding your credit limit
- Returned payment
- Returned checks
The Application Process
You can apply for any Chase card through their website. This makes it very easy and convenient for you. The application itself is also very easy. As you might have assumed, you will have to supply a handful of standard information like your name, address, and other contact information. Obviously, they will also ask you for your financial information. They may also ask a few other things too, to make sure that you are eligible to open a new account:
- Do you have any bankruptcies on your credit record?
- Have you ever had an account that was seriously delinquent?
- Have you applied and been denied for a new Chase credit account in the past 6 months?
If you answer "no" to all of these then your application can be considered for approval.
You can earn anything from 1% to 10% back in cash rebates when you use your Chase Freedom MasterCard, depending on the transaction. Aside from other basic benefits, you can also earn a $200 cash back bonus in three months.