If you are looking for a good no annual fee credit card, the Chase Freedom is the card to get right now. The sign up bonus is usually 10,000 points, but right now there is a Chase Freedom 22,500 point sign up bonus worth at least $225.
Sign Up Link: Chase Freedom 22,500 Point Sign Up Bonus
You get 20,000 points for spending $500 in 3 months and 2,500 points for adding an authorized user. To get the extra 2,500 I usually add my wife and spend $1 and it should work flawlessly. Chase does not ask for the social security number, so you could pretty much add anyone as an authorized user. I usually don’t even give the authorized user the card to use.
The second reason to get the Chase Freedom is the rotating 5% bonus categories each period. You can earn up to 7,500 points per quarter ($1,500 in spending) on qualifying purchases.
The current 2015 bonus spend categories include:
- January-March: Grocery Stores, Starbucks, Movie Theaters
- April-June: Restaurants, Bed Bath & Beyond, H&M, Overstock.com
- July-September: Gas stations (and possibly more categories added)
- October-December: Amazon.com (and possibly more categories added)
The last reason to get the Chase Freedom is that you can transfer the points to the Chase Sapphire Preferred credit card. Once you do so, the points become eligible for mileage transfers. You can then transfer to many airline and hotel programs to redeem for flights and hotels, which is the biggest goal of credit card perks. So, Chase Freedom points transfer to Chase Sapphire Preferred Ultimate Rewards and those points transfer to airline miles and hotel points.
Sign Up Link: Chase Sapphire Preferred 45,000 Point Sign Up Bonus
If you are starting out in the points and miles game, I would get the Chase Freedom credit card first and then the Chase Sapphire Preferred credit card in about 3 months if you don’t have a specific travel goal in mind. Another strategy is to start off by applying for the bigger bonuses and then come back to the Chase Freedom eventually. Holding the Chase Freedom card for life will help improve your credit score if you pay in time and in full. There is no reason to cancel holding this card because there is no annual fee. Overall, the Chase Freedom is a great card to get for the sign up bonus, 5% categories, and transferability to Chase Sapphire Preferred or Chase Ink. It is a key card in earning points for free travel.