The Chase FreedomSM card is one of the best all-around spending cards available today. It gives you 3%+ (see below) cash back (in the form of points redeemable at a rate of 1:1 for cash) on your top three categories of spending (out of fifteen, automatically) every month. Outside of the three categories you will earn 1% back for every other dollar spent. (Update 12/01/2008: Terms have changed. They have downgraded the rewards program. See Chase site for details.)
Categories include:
- Gas & Convenience Stores
- Utilities
- Department Stores
- Groceries
- Fast Food Restaurants
- Drugstores
- TV/Internet
- Pet Supplies/Veterinarian
- Phone Bills (Mobile & Landline)
- Movie Theaters
- Gym Memberships
- Beauty Salons & Spas
- Movie Rentals
- Dry Cleaners
- Local Commuting (Buses, Taxis, Trains, etc.)
Okay, so, most people aren't going to spend hundreds of dollars on dry cleaning or go and see a movie every night. But if you use this as your main card (for example: gas, groceries, and utilities) you have a pretty good chance of getting a decent amount of cash back every month.
There's no annual fee, and they even give you $50 cash back after your first purchase!
It gets even better though: if you also have a Chase checking account then you get 3% cash back on your top 5 categories each month!
But wait…there's more! If you wait until the $200 level before you redeem your rewards, Chase will give you a bonus $50! So, in effect you are getting 3.75% back! Apply here.
