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Update: Some offers mentioned below are no longer available. View the current offers here: Chase Freedom

The Chase Freedom card normally offers a sign-up bonus of 10,000 points when you spend $500 within three months of account opening. However, Chase has just launched a new, higher sign-up bonus of 20,000 points when you spend $500 within the first three months. You can earn an additional $25 when you add an authorized user and make a purchase.

If you just have the Freedom card, those 20,000 points are worth $200 in cash back, so you’re getting a 40% return on that first $500 of spending. However, if you also have one of the premium Ultimate Rewards cards (like the Chase Sapphire Preferred Card or Ink Plus Business Card), you can then combine points and transfer them to any of the program’s 11 travel partners as well.

Here are the details of the current offer:

  • For a limited time, earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn a $25 Bonus after you add your first authorized user and make a purchase within this same 3-month period
  • 0% Intro APR for 15 months on purchases and balance transfers. After the intro period, a variable APR of 13.99-22.99%
  • 5% Cash Back on up to $1,500 in combined purchases between April 1-June 30 at restaurants, Bed, Bath & Beyond, H&M and Overstock.com
  • You’ll enjoy new 5% categories every 3 months like gas stations, restaurants, and Amazon.com. It’s free and easy to activate your bonus each quarter!
  • Unlimited 1% Cash Back on all other purchases
  • No annual fee and rewards never expire

In addition to earning 1 point per $1 on everyday purchases, the other feature that sets this card apart is the ability to earn 5x points on up to $1,500 of purchases per quarter with certain merchants.

The Freedom's 5X bonus categories this quarter include restaurants and Overstock.com.
The Freedom card’s 5X bonus categories this quarter include restaurants and Overstock.com.

The calendar for 2015 is as follows:

  • January 1 – March 31: Grocery stores, movie theaters and Starbucks
  • April 1 – June 30: Restaurants, Bed Bath & Beyond, H&M and Overstock.com
  • July 1 – September 30: Gas stations and more
  • October 1 – December 31: Amazon.com and more

As a reminder, if you’re already a cardholder, you can register here to activate your spending bonus each quarter. If you maximize the 5x bonus each quarter, you can bank 30,000 valuable Ultimate Rewards points per year on $6,000 in spending. I value Ultimate Rewards points at about 2.1 cents apiece, so those 30,000 points are worth $630 – better than a 10% return on your spending.

On its own the Chase Freedom is one of the best cash-back cards on the market, but by maximizing the bonus categories and combining it with one of Chase’s premium Ultimate Rewards cards, it becomes even more of an asset.

For my review of the Chase Freedom card, watch this video

For more info on the Chase Freedom card, check out these posts:

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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