Chase Freedom Review: Find out why this is in my wallet year-round.

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The Chase Freedom is one of my favorite cards in my wallet and one of the few that I keep in there year-round. It offers a clever cash back strategy that is a nice added bonus if you can max out the perks.

The card: The Chase Freedom is one of two cash back products that Chase offers. This card has no annual fee and usually offers a $150 sign up bonus after you spend $500 in your first 3 months – sweet!

The benefits: This card earns unlimited 1% cash back on all purchases, but what makes this truly a unique card is the 5% rotating cash back calendar! Every quarter offers new categories of ways to earn 5% cash back on purchases. Let’s take a look at the 2016 cash back calendar:

Q1 January – March: Gas stations & local transit

Q2 April – June: Grocery stores & wholesale clubs

Q3 July – September: Restaurants & wholesale clubs

Q4 October – December: Department stores, drug stores & wholesale clubs

The Q3 bonus is my favorite since I can get 5% cash back on all my dining out. If you shop at wholesale clubs like Costco or Sam’s Club, then you’re able to take advantage of the increased sign up bonus making this another great addition to your wallet.

Another great advantage is that the current offer allows for 15 months of 0% APR on purchases and balance transfers. This means that as long as you may your minimum balance on time then you won’t pay any interest which can be a huge benefit if you’re paying interest on another card!

The downside: The 5% cash back each quarter is capped at the first $1,500 in purchases every quarter meaning that the maximum bonus cash back you can earn is $75 per quarter or $300 per year.

The bottom line: While $75 per quarter of bonus cash back may not sound like a lot, if you consider the $150 sign up bonus, no annual fee and the unlimited 1% cash back it’s certainly a great deal!

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