Description: The author is willing to introduce us his credit history, especially his chase credit journey with it and the ways to get approved, he shares some reasons why he highly recommends it.
I was a new immigrant to the United States, I didn’t have any credit history, because I had that salary being paid in stable salary, I was able to convince them to give it to me, I got denied the first time, but then I went into the branch and I talked to a banker and he looked at my accounts and then made a recommendation to the credit card Department and explained that I’m building credit.
They give it to me and I got approved, if you bank with Chase, you have regular income coming in, if your credit score is over 700, you can go for it, if you credit scores are below 700, you don’t have a credit card, maybe start with a Capital One platinum build your credit for six months.
It’s a very good card, I thoroughly recommend it, it’ll be with you from the very beginning and it’s worth keeping even after you’ve got some more premium credit cards because of those fly percent categories.
I’ve been the credit shuffle, subscribe for more reviews, credit card tips and tricks every week, we’ll see you next time, although the points can be transferred to two other choice credit cards, I get two more later on.
The sign-up bonus for this card after spending five hundred dollars in the first three months is one hundred and fifty dollars, worth of points, when you add an additional card for a family member, you get $25 worth of points and these points are redeemable for either cashback.
They can be used to book travel through chases, internal booking system and also redeemed for store gift cards, if you get the sign-up bonus, the spending in the first three months combined with the bonuses should get you up to somewhere around 20,000 points.
I think the first time I redeemed for cash back on this card about six months, after I got it, I got two hundred and forty dollars worth of cash back, but the freedom is more of an investment, because once you can view it as the first rung on the chase ladder of credit cards, it’s probably not the first credit card.
Most people start with something like the Capital One platinum which is a card for building credit, it offers no benefit, no points that can be used to book travel, the only benefit is that it helps you build your credit, so it’s a step above that.
Most people will get it as their second or third credit card, I actually got it as my first, but more about that later and it’s an investment, once you get either of these to chase credit cards, either the Sapphire Preferred or a sapphire reserve, you can transfer your points from a freedom over to Sapphire Preferred or Sapphire Reserve.
You can transfer them to airline partners and HealthPartners, when you redeem from airline and hotel partners for rewards, for air tickets hotel, you get much better value than either using them as cash or booking through chases into a booking system.
It’s investment, you can store up your points on the freedom, once you get one of these two cards, transfer them over, you may be thinking if you’ve got either of these two card.
What’s the point of keeping the freedom? There are a lot of points in keeping it, it earns a lot more than these two cards, let me explain, every three months, every quarter chase chooses different categories to give 5% points on the chase freedom and these categories could include wholesale clubs such as Costco, sometimes grocery stores, sometimes gas stations, often in a lead-up to Christmas and a holiday season.
It’ll be amazon.com, normally each each quarter, they have two or three different types of stores where you can earn 5% cash back, that’s on spend of up to $1,500 in total, if you spend $1,500 in that category that quarter, you will get 7500 points which is worth $75 in cash back or can be transferred over to either of those two credit cards.
This card owns 2% back on travel and dining, so you look at the 5% categories now on freedom, you start to see why it’s a useful card when paired with either of these two cards, it’s a great system.
The last thing I want to say about the freedom is that you get 0% APR for the first 15 months, it’s not a balance transfer card, you still get charged, I think of 5% feet transferring a balance onto it, if you’re looking for balance, transfer, go for the chase slate card.
But if you are looking to borrow a bit of money on the freedom, make a big purchase and pay back over a few months, I would recommend this card, because you do get that 0% APR, I remind you to spend responsibly, don’t borrow too much.
I’m going to tell you how I got this card, most people start with something like a Capital One platinum, they weren’t necessary to start with this card, if you view the chase freedom, it’s like the second run on the credit card ladder.
You have your capital 1 cards as the first run, second round, you’ve got things like the chase freedom, then the third rung on the ladder, you have cards with a $100 annual fee, like the Sapphire Preferred or the SPG from American Express you’ve got your top tier things like Amex platinum Chase Sapphire Reserve with hefty 450 dollar annual fees.
I guess in the fifth category, you’ve got invitation-only cards like the annex Centurion, so I would say it is on that second rung of the ladder, I got it as my first credit card and the way I did this was that I bank with Chase, so I had over a year’s history with them, getting a reasonable salary paid into my account.