There is a myriad of bonuses programs provided by credit cards as an introductory sign-up offer. These bonuses run the gamut, and you need to know if you are truly getting a good deal with these credit cards. The Chase Freedom credit card is one such card that offers a bonus when opening the card.
The Chase Freedom credit card gives you a $150 bonus when you spend $500 on purchases in the first three months of owning the card. This bonus can be redeemed for cashback on your statement, giving you even more spending power. But, how does it stack up to other credit cards available in the market today?
Chase Freedom Card vs. Citi ThankYou Premier Card
One example where you could earn a larger introductory bonus than the Chase Freedom card offers is the Citi ThankYou Premier credit card. This card gives you 60,000 ThankYou Points after you spend a total of $4000 in purchases within the first three months of owning the card. While the initial purchase requirement is quite a bit more with the Citi ThankYou Premier card, you do receive considerably more points that can be redeemed for $750 in airfare or $600 in gift cards.
Chase Freedom Card vs. Capital One Venture Rewards Card
The Capital One Venture Rewards credit card also offers you a larger sign-up bonus. This card gives you 50,000 miles after spending $3000 within the first three months of opening your account. While you will receive more miles, which are great for travel, you do have to spend more to get them than you would have to with the Chase Freedom card.
Chase Freedom Card vs. American Express Blue Cash Everyday Card
If you are looking for a credit card that offers a sign-up bonus with a nominal purchase requirement, look no further than the American Express Blue Cash Everyday credit card. This card gives a $150 statement credit after you spend a total of $1000 within the first three months of opening the card. When compared to the Chase Freedom credit card, it requires more spending to get the same sign-up bonus, making the Chase Freedom card a better option.
Chase Freedom Card vs. Capital One Quicksilver Card
A credit card that is friendlier with its bonus points program is the Capital One Quicksilver credit card. When compared to the Chase Freedom credit card, it stands a notch lower as it requires $500 in spending in the first three months of owning the card to receive a $150 signup bonus. While this credit card will definitely get you a nice bonus quickly, the purchase requirement is more than the Chase Freedom card requires at signup. This is reason enough to stick with the Chase Freedom credit card to get that cash back bonus quickly.
When selecting between the Chase Freedom card and another credit card, you need to consider how much you plan to use the card over the next three months. If you have a large purchase in mind, the Capital One Venture Rewards card or the Citi ThankYou Premier card may be a better option than the Chase Freedom credit card. If you are looking to use your card sparingly, then the Chase Freedom card is ideal as you’ll earn that sign-u[ bonus without having to spend more than you want.