Posted on June - 20 - 2011
Chase Freedom $200 Cash Back Bonus Limited Time Promotion
Throughout 2011, credit card companies have been increasing sign up bonuses at a frantic pace. The Chase Freedom $200 cash back promotion, which is available for a limited, though unspecified time, is one of the more lucrative deals available. While this $200 bonus pales in comparison to the $500 bonus being offered on Chase Sapphire, it is the largest bonus being offered on any cash back credit card today, and perhaps in the history of cash back credit cards.
There are currently four versions of the Chase Freedom card available and each is slightly different. The Chase Freedom $200 promotion is the most generous of these offers, yet it doesn’t impose a massive hurdle to get in the way of earning the $200 bonus. New applicants are given six months to make $1,500 in purchases with the card. This breaks down to $250 a month in spending, something that should not pose a problem to consumers.
Once the $1,500 spending requirement is met, consumers get credited with the $200 bonus. It’s that simple. Plus, every dollar spent on the card still earns at least 1% cash back, and from July first to September 30th, card-holders earn 5% cash back on up to $1,500 of spending on gas, hotel and airline purchases.
While the Freedom $200 offer is the most generous available, other Freedom offers have different benefits and bonus requirements that may make them more appealing for some.
The Chase Freedom $150 cash back offer is extremely similar to the $200 offer. The only difference is that consumers only need to spend $500 within three months to obtain the sign up bonus. Other than this, rates, fees and rewards are exactly the same.
The Chase Freedom $100 cash back offer is similar to the $150 offer in that it too requires $500 of spending within three months to obtain the sign up bonus. However, this card differs from both the $150 and $200 bonus offers by offering a 0% APR on balance transfers for 12 months as well as a 0% APR on purchases for 6 months.
Finally, Chase has a $50 bonus version of the Freedom card that differs from all three offers. First, the $50 sign up bonus is awarded after only a single purchase is made. This is a nice perk for consumers who are concerned about spending $500 or $1500. The second major difference is a lower long term interest rate. Like the Freedom $100 offer, the $50 offer provides a 0% APR on balance transfers and purchases. However, this card also offers a long term variable APR that starts at 9.99%, a full two percentage points than the 11.99% rate charged on the other three cards.
For additional information on these cards and related offers, please see our overview of the best Chase credit card offers.
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