Chase Freedom Cash

• Earn 3% Cash Back for every eligible $1 spent in purchases at
• Grocery Stores:  Stock up on food, household goods and more
• Gas Stations:  Use your card for fuel, repairs, car washes, and other purchases
• Quick Service Restaurants: Rewards add up fast from pizza to hamburgers to tacos - even sandwich shops, coffee houses and more
• Earn 1% Cash Back for every $1 spent in purchases everywhere else
• Get a $50 Check once you've earned $50 in rewards

Issuer:  Chase

APR:   0.00% applied to purchases and balance transfers

Introductory Period: 6 months

APR After Introductory Period:  9.90% or 14.99% fixed depending on your credit rating and it is applied only towards balance transfers

Annual Fee: $0

Credit Line Possible: This is based on your credit worthiness.

Insurance included:  The Chase FreedomSM Visa: Cash/ Chase Freedom Cash offers better than usual travel accident insurance, auto rental insurance, and travel and emergency assistance services.

Financing Configuration - Interest is calculated on your average daily balance.

Grace Period - You have twenty days during which you do not have to pay interest on purchases.

The Best Thing About It - There is a generous rebate program that lets you earn back 1% to 3% every time you spend money and there is no annual fee.

The Worst Thing About It - Cash advances are exceptionally high at 24.24% variable and there are lots of fees.

Credit Rating Needed For Acceptance -  Very Good to Excellent.

Who Is It For?

The Chase FreedomSM Visa:  Cash / Chase Freedom Cash is for those who appreciate a flexible card with many facets including a tiered cash rebate program, a points program that does not expire, no annual fee, generous travel and emergency insurance.

The Benefits

There is both a points and rebate program a good rewards program. Through the reward program, cardholders earn points that can be applied towards travel on any airline with no blackout dates, hotel stays, car rentals, gift cards and merchandise. Cardholders earn three points for every dollar spent at gas stations, grocery stores, and restaurants and one point per dollar on all other items. You also have the choice of opting to earn cash back instead of points.

The points don't expire!  You can accumulate as many points as you want and keep them forever.

You can access your account online.  You can access all of your information and make payments easily over the Internet.

You have 100% fraud protection. You are not charged a fee if your Chase FreedomSM Visa: Cash / Chase Freedom Cash is used in a fraudulent manner.

You are protected in an emergency. This card offers immediate emergency cash and card replacement if you are robbed.

You can get a year-end financial statement. Upon request you can get a summary of exactly how you have used the card annually.

The Drawbacks

The introductory period is only six months. There are many cards out there that offer an introductory rate for a year or longer

You may not qualify for the introductory rate. The APR for purchases varies according to the applicant's credit history and is 5.99%, 9.99% or 14.99% + Prime Rate.

There is a high interest rate for taking out cash advances.  Chase will charge you a whopping 24.24% for each cash advance transaction or balance transfer.

Monthly payments are applied to purchases first until they are paid off and then to purchases.  This can get very expensive if you use it to take out cash, as the interest rate is high.

A short grace period. The grace period is twenty days.

The 0% introductory rate is not guaranteed. If you make a late payment on any bill, not just your credit card bill, your introductory 0% rate can be replaced with the prime rate.

There are lots of hidden fees. The fees for this card can add up and make it seem like you are paying an annual fee anyway.

Fees To Watch Out For

Late payment fee:  $15 on balances up to $100; $29 on balances over $100 up to $250; $39 on balances over $250

Over The Limit fee: $39

Cash advance Fee: 3%, $10 minimum

Balance Transfers: 3%, $10 minimum, $75 maximum

To Summarize -

Chase FreedomSM Visa: Cash / Chase Freedom Cash is a great all purpose card for people who like the flexibility of earning points every time they shop and who also like to have the option of choosing where they put their points. It is not a good card to carry a balance on because the APR is high after the six-month introductory rate is over.