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Does the Chase Freedom Earn Cash Back or Points?

Does the Chase Freedom Earn Cash Back or Points?

Million Mile SecretsDoes the Chase Freedom Earn Cash Back or Points?Million Mile Secrets Team

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Million Mile Secrets reader, Gina, commented:

Is the Chase Freedom a cash back card or a points card?

With the Chase Freedom and Chase Freedom Unlimited cards, you earn Chase Ultimate Rewards points, which can later be redeemed for cash back, gift cards, or travel.

On their own, the points you earn from the Freedom or Freedom Unlimited can only be redeemed for 1 cent each for cash back or towards travel.

But your points are worth much more and give you flexibility when you also have certain Chase Ultimate Rewards cards, like the Chase Sapphire Preferred or Chase Sapphire Reserve.

Chase Freedom Rewards
Combine Points From the Chase Freedom With Another Eligible Chase Ultimate Rewards Card to Book Free Nights at Fantastic Hotels Like the Andaz Maui

I’ll explain how rewards work with the Freedom and Freedom Unlimited cards.

Chase Freedom Rewards

Link:   Not All Chase Ultimate Rewards Points Are Equal! 

Link:   Best 7 No-Annual-Fee Cash Back Cards Compared

Link:   Why Chase Ultimate Rewards Is My Favorite Points Program

The Chase Freedom and Chase Freedom Unlimited cards are 2 of the best no annual fee cash back cards.

With these cards you earn Chase Ultimate Rewards points, which can be redeemed for cash back, gift cards, or travel through the Chase travel portal.

So the rewards you earn are referred to as points.  But you can redeem these points for cash back.  That’s why folks interchangeably refer to these cards as cash back or points cards.

Chase Freedom Rewards
Redeem Chase Ultimate Rewards Points You Earn With the Freedom or Freedom Unlimited for Cash Back, Gift Cards, or Travel

But points earned with no annual fee cards like the Freedom and Freedom Unlimited can NOT be directly transferred to partner airlines and hotels.

That’s why to get the most value for your points, it’s best to pair your card with a “premium” card that earns Chase Ultimate Rewards points such as the Sapphire Preferred, Ink Business Preferred, or Sapphire Reserve.

Because you can then combine your points and transfer them directly to Chase’s terrific travel partners.

Chase Freedom Rewards
Combine Points From Multiple Chase Ultimate Rewards Cards to Get Big Travel With Chase Travel Partners!

Emily and I have transferred Chase Ultimate Rewards points to airline and hotel partners in the past for amazing trips to Hawaii, Paris, Milan, and many other destinations.

Other folks like to combine Chase Ultimate Rewards points to their Sapphire Reserve card and book travel through the Chase travel portal.

For example, Million Mile Secrets reader Mike commented he gets the most value by combining points and taking advantage of the 50% bonus on Sapphire Reserve points to book hotels, airfare, and rental cars through the portal.

The flexibility of Chase Ultimate Rewards points is the main reason why it’s my favorite points program.

Freedom and Freedom Unlimited Are Great for Beginners!

Link:   Chase Freedom Unlimited

Link:   My Review of the Chase Freedom Unlimited

Link:   Chase Freedom

Link:   My Review of the Chase Freedom

If you’re new to miles & points, the Freedom and Freedom Unlimited are great cards to get started with.

They both have no annual fees, which means you can keep them forever.  Because having cards open for a long time can potentially improve your credit score by increasing the average age of your accounts.

And both of these cards come with sign-up bonuses.  You’ll earn 15,000 Chase Ultimate Rewards points ($150 cash back) after spending $500 on purchases within the first 3 months of account opening.

Chase Freedom Rewards
The Chase Freedom and Freedom Unlimited Cards Both Come With Sign-Up Bonuses Worth $150 Cash Back!

I’ve kept the Freedom card in my wallet for many years because I love the quarterly rotating 5X Chase Ultimate Rewards point (5% cash back) bonus categories.  So it’s a great card to have because it earns bonus points for everyday spending.

Plus, getting 1 of these cards helps you build a relationship with Chase, which has some of the best travel rewards cards!  Then you can get another card to pair with later.

Just remember, Chase has tougher application rules.  If you’ve opened ~5+ cards from any bank (except these business cards) in the past 24 months, it’s unlikely you’ll get approved for any card that earns Chase Ultimate Rewards points.  It’s known as the “5/24” rule.

If you’re unsure of your recent card history, there’s an easy way to check your Chase 5/24 status.

Bottom Line

The Chase Freedom and Chase Freedom Unlimited cards both earn Chase Ultimate Rewards points, which can be redeemed for cash back, gift cards, or travel.  These cards are great for beginners because they have no annual fee.

But with either of these cards, the points you earn can NOT be directly transferred to partner airlines and hotels.

To get the most value for your points, it’s best to combine the rewards you earn with another card with another Chase Ultimate Rewards card like the Sapphire Preferred, Ink Business Preferred, or Sapphire Reserve.  Then, transfer points to amazing partners like Hyatt or Southwest.  Or book travel through the Chase travel portal.

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Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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So, if my wife has the Freedom and Freedom Unlimited and I have the Chase Sapphire Reserve, can she transfer me her points acquired from using the Freedom and Freedom Unlimited and then I can redeem for travel? Or, does she have to have one of the travel rewards cards too?

That will work. Here’s a step-by-step guide to transferring Chase Ultimate Rewards points to a spouse:

https://millionmilesecrets.com/2017/01/15/transfer-chase-ultimate-rewards-points-to-spouse/