How the Chase Freedom Card Can Help Your Bottom Line – Especially During the Coronavirus Lockdowns

The Chase Freedom card has long been one of the best and most versatile credit cards available.

I won’t get into the details of the card in this post, you can read our review of the card here if you want more details.

Rather, I’m writing this post to highlight some of the card’s benefits that can be taken advantage of now to help your bottom line during the coronavirus pandemic and lockdowns.

The Freedom Card

During this challenging time, not only do we have to worry about being exposed to coronavirus, but many of us are being negatively affected by the economic consequences related to fighting the coronavirus pandemic.

For some, it’s outright job losses.

Others may still be employed, but at lower rates of pay due to reduced hours or mandated pay cuts.

And for those without changes to their employment or pay situation, the threat of what might come is likely ever-present as this crisis unfolds.

Saving money is vital, and the Chase Freedom card can help.

Of course, if you’re in a position where you need to run a balance, other cards…or options…likely will prove a better choice.

But if you can still pay your credit card bill in-full each month, the Chase Freedom can help boost your bottom line during the coronavirus pandemic.

Sign-up Bonus

Currently, the Chase Freedom is offering its highest sign-up bonus.

You can get $200 back after spending $500 in the first 3 months from card approval.

If you spend that $500 on groceries, you’ll effectively get $200 worth of groceries free.

During this period, many of us are spending more and more for groceries since dining out options are limited.

And speaking of groceries, during this quarter (April, May and June) the Freedom card is providing 5% cash back on all grocery purchases.

Spend $100 on groceries and get $5 cash back as a result.

Once cash back is earned, you can use it to offset credit card charges, or on a number of other options that Chase offers.

And this cash back is a direct benefit to your financial bottom line.

Additionally, Chase is offering 5% cash back on select streaming services…another expenditure many of us are making during the lockdown period…including Netflix, Disney+, Hulu, and Sling to name a few.

You can read our post on this quarter’s 5% cash back bonus categories for the Freedom card here.

The bonus categories change each quarter, so we’ll have to see what Chase will announce as the 5% cash back earners for July, August and September.

Hopefully, they’ll be just as beneficial as this quarter’s.

If you’re interested in learning more and/or applying for the Freedom card, you can do so at the Chase link below.

Chase Freedom credit card application link

Application Restrictions

When it comes to Chase credit card applications, there are a few rules some applicants have to keep in mind.

If you’ve received a sign-up bonus for the Freedom card within the previous 24 months, you will not receive this sign-up bonus.

And, if you’ve been approved for 5 or more credit cards from any bank within the past 24 months, you will very likely not be approved for this, or any, Chase credit card.

A Final Caution

Banks are especially sensitive to actions of new cardholders these days.

If you have a limited history with Chase, and upon card approval spend close to your card’s credit limit, there’s a chance your credit card account will be closed.

With increased unemployment rates and difficult financial times, some consumers apply for credit cards, max them out and then skip payments as a way to “stay afloat” financially. This is also a tactic used by criminals.

Try to keep initial months’ purchases below 50% or so of your credit line to avoid triggering the bank’s warning signals.

Wrap Up

The Chase Freedom card has always been one of the better cash back earners available.

And now with its increased sign-up bonus and current quarterly bonus categories targeted toward high-use retail categories due to coronavirus, it’s a good choice for those looking for a credit card that will help their bottom line.