– Hello. Today, I will be talking about
the Chase Freedom Visa card. I will be talking about all the benefits and things that you
can do in order to help get yourself approved. (dramatic music) So, today I'm talking about one of the most popular credit cards
issued in the United States, and that is the Chase Freedom card, and it is so popular for a reason, and I'm gonna go over
the reasons why today, and I'm also going to
give you tips and tricks on how to increase your chances of getting approved for this card.
Whether you've watched my videos before or this is your first time, welcome, and if you like the content
today and you want to see the other videos I do, the
new videos that are coming up, hit that subscribe button
and the bell notification. That way, you'll be notified every time I upload a new video. So, today I'm going to be talking about the Chase Freedom card. I'm gonna share with you why
I love the Chase Freedom card and other cards like it.
With the Chase Freedom card,
your rewards never expire, and you're able to take
redemption on those rewards no matter how small the amount, so if you have earned $2.50 cash back and you want to redeem
those rewards, you can. So, the great thing about
having the Chase Freedom card is that all the rewards that you earn with this high-earning
rewards card is yours to keep. You have no annual fee
that you have to offset, and that is very unusual
for a type of card that earns this many rewards, and this is why I highly
recommend the Chase Freedom card, because if you shop within these special categories quarterly, you're going to be able
to earn 5% cash back. So, with the Chase Freedom Visa card, you earn 5% cash back
within special categories, and 1% outside those categories, so there is a cap to how
much rewards you can earn within a quarter.
The maximum is $1500 for each quarter, so you have the ability to earn
$75 cash back each quarter, times four, so that's $300, and then, after that, anything you buy, whether it's outside or
within those categories, you will earn 1% cash back. And Chase Freedom Visa card is a card you want to hold onto long-term, because even if you graduate
to higher-end credit cards, like one of the Sapphire cards from Chase, you can take your points,
your cash back rewards, and transfer it into other
Chase credit card programs.
If you're really creative about it, you can make those transfer
rewards work for you and make them more beneficial than the cash back you had before that, so it's all about how you
work within the program. So, in the screenshot, you
can see what the category was for quarter one, and you can also see what the category is for quarter two. Quarters three and four will be announced when it becomes closer
to around that time, but generally speaking, quarter three, at least for the last two years, has been dining, and I
expect it to be dining again, but you never know, and
then the fourth quarter will probably be something having to do with online shopping. It's been things like Amazon.com before. So, if you want to learn more about the Chase Freedom Visa card, I have linked the article in the description below this video. You can learn about the pros and cons of the Chase Freedom card, and whether it's right
for you, ultimately.
Another thing that I really like about the Chase Freedom Visa card is that the sign-up bonus is so easy. It is only $500 you need
to spend with this card within three months, and
they will give you $150. And you will earn an additional $20 if you add another
person onto your account, so this is a very easy
sign-up bonus to earn. For some people, they need
to be aware of certain things about Chase Freedom, and oftentimes, it's better to apply and
get this card early on, and I'm going to go over those things about what you need to
do in order to strengthen your chances of getting
approved for this card. This first thing I need to bring up, because even if you have excellent credit, this one aspect of the Chase Freedom card can actually get you disqualified, even if you have excellent credit, and that is the Chase 5-24 rule. The Chase 5-24 rule is
a rule that states that you cannot get approved for
more than five credit cards within 24 months, and for all you guys that have been rebuilding your credit, you might be at the three, four, five credit card mark right now, so I wanted you to be aware of this now, that if you, say, have four credit cards and you are very interested
in the Chase Freedom card, you may need to apply for it now.
That way you won't be locked
out of the possibility of applying for this card later, so if you were thinking
of getting another card, like the American Express Green Card, which is also easier to get approved for, you'll want to put a hold on that and concentrate on trying to get approved for the Chase Freedom card. Now, if you apply for the
Chase Freedom card online and you don't get approved, you can apply for a
second Chase credit card and have it count only
as one credit inquiry.
Now, there can be little quirks to this, so for the most part that this is true, and I want to also make a distinction. You cannot apply at a branch location and then go home and apply online. That will then count as
two credit inquiries. There are times that people
will actually see two, but for the most part, if you
apply online twice in one day, it should only appear
on your credit report as a hard inquiry only once, and my recommendation is,
if you do not get approved for the Chase Freedom card, I would try to get approved for
the Chase Freedom Unlimited. So, what you can do with
the Chase Freedom Unlimited is that, if you don't like this card, you should be able to switch it out, do a product change, to
the Chase Freedom card. So, this strategy, although
it's a little bit longer, it is a way you can get approved for the Chase Freedom
card, not immediately, but down the road.
So, I'm gonna share an
insider tip with you. I do bank at Chase and I do
know the bank tellers there, and they actually told
me of this little tip. If you are a regular Chase customer, you have a relationship built with Chase, and you probably do online banking, and after you've been a
customer with Chase for a while, they do offer their
customers different programs. It could be something to do with checking or it could be with credit cards, and sometimes, they have, basically, what is a pre-approved
offer for their customers.
Now, there is a difference, because there are two types of ways that you can get a pre-approved offer. There's the one that's
almost rock-solid, 100%, and then there's the other, where you're probably 75%
likely to get approved. Now, there is a difference
between the two, and the bankers know the difference. I don't know how they
term this on their end, but if you ask the direct question, do you have any
pre-approved offers for me? And explain to them you're
aware that they have two types of offers, say
that you want the one where there's more of a definite
chance you'll get approved, and ask them about that to
see if that's available, and if you have one of those offers, and it'll probably be for
either the Chase Freedom card or the Chase Freedom Unlimited card, this is an excellent opportunity for you to get a credit card with Chase.
Now, I asked one of
the bankers about this, and I wanted to be very specific, because I'm telling you all about it, and I said, the offers
that are more or less 100%, have you ever seen anyone get
denied for the application? And her answer to this was, I
have worked here seven years, and there was only one time
that somebody was offered this and they were denied. So as I said in the
beginning of this video, the Chase Freedom Visa card
is not the hardest credit card to get approved for, so if
you have good credit history and you have a record of a year or two, you should have a fair chance of getting approved for this card. So, I would say take the chance, because as long as you're not
breaking the Chase 5-24 rule, you probably have a decent chance of getting approved for this card, as long as you don't have
too many credit inquiries, because multiple,
multiple credit inquiries will get you denied for credit cards from most credit card companies. Okay, and very important,
if you get denied for the Chase Freedom
card, you have the option of calling in and trying to see if you can get that decision overturned.
It has worked for some
people, and if you tried it, please put in the comments below whether or not it worked for you. So, you're probably
thinking I've been talking so many great things about
the Chase Freedom card. I must actually have
the Chase Freedom card. But no, unfortunately, I don't
have the Chase Freedom card, and that is because I
broke the Chase 5-24 rule, so I am not qualified to actually apply and get approved for a Chase Freedom card, no matter how good my credit gets.
So, if you're one of those people, you can do what I did and
get the Discover it card. It is very comparable to
the Chase Freedom card, and you do receive 5% cash
back in special categories, and in your first year, you actually receive a 5%
bonus within those categories, so you'll earn 10%. Even though I can't have
the Chase Freedom card, I have been very happy
with the Discover it card.
It is a card that does
basically the same thing as Chase Freedom, so if you
broke the Chase 5-24 rule like I did, I would recommend
getting the Discover it card. Some people actually have both cards. Quarter three for both Chase
Freedom and Discover it tends to be dining, so
if you're going to spend more than $1500 on dining, you can use the Chase Freedom
card first, max that out, and then move on to the Discover it card and earn 5% cash back on dining there until you max out that category. Another reason why somebody would have the Chase Freedom card and
the Discover it card is that, although sometimes they
have the same categories, other times, their categories
for certain quarters can be completely different, so that way, you can have a wider range in the ability of earning
5% cash back rewards, so that's a little strategy
for you to consider if you want to earn more
5% cash back rewards. Okay, so I'm ending this
review basically saying that I wish I could have
the Chase Freedom card, but it's not gonna happen.
It's not gonna happen
anytime near in my future, because I have a channel for credit, and I have to continually
try different credit cards so that I can talk about them with you, so probably in my life, I will never have the Chase Freedom card. So, if anything I really
stressed in this review is that, if you are thinking about
getting the Chase Freedom card, you should really think
about it sooner than later if you can qualify for it, if you can pass the 5-24 rule from Chase, and it's better to get this card now, and I know that it is a credit card that you will not be canceling.
It is a very useful credit
card that has no annual fee. There's a lot of benefits
to having this card. Thank you so much. I hope you enjoyed this review of the Chase Freedom Visa card. If you think I did a
good job of explaining the different benefits
and the tips and tricks in order to get approved for this card, I'd appreciate it if
you'd hit the like button, and if you want to see more of my content, please, please subscribe and
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today, and until next time..