Using a credit card for the rewards it offers is well worth the effort and a convenient way to get a little extra from everyday purchases and expenses. The Chase Free Cash RewardsSM Visa Card is one of many credit cards that offer cash reward perks along with many other conveniences only offered by a first tier credit card.
Starting With the Interest Rates
One of the nice features of the Chase Free Cash RewardsSM Visa Card is that all purchases with the card are interest free for the first six months of owning the credit card. This makes for a convenient way to make slightly extended payments on that new flat screen TV or washer and dryer set while skipping over the store financing and getting extra rewards from the card's rewards program on top. It does make a sensible alternative for making payments on big purchases.
But do take note – after the initial 6 months of cardholders passage, the standard purchase interest rate APR does kick into effect and it's not exactly a flattering rate. Those with very good to excellent credit scores will be able to find a better purchase interest rate if they do not always plan on paying their balance in full every month.
Looking to move those high balances from a high interest card to an interest free or low interest credit card in order to pay down the principle faster? Well, the Chase Free Cash RewardsSM Visa Card offers up to a six month introductory interest free balance transfer time frame. This is a good start, but for those exclusively seeking the balance transfer benefits as the main feature of a new card, six months interest free just is not quite good enough.
What Are The Rewards?
As its namesake aptly promises, the Chase Free Cash RewardsSM Visa Card does offer rewards redeemable for cash, but also gift certificates and other choice selections. At the rate of 1 point for each dollar purchased with the credit card, the benefits add up over a period of regular usage. As a bonus, 1,000 points are automatically credited to the cardholder's account upon the first purchase with the card.
The option of picking and choosing the rewards received is a great concept and works well with cash rewards credit cards, but this Chase Free Cash RewardsSM Visa Card may be a little stingy when it actually comes to the points actually given. Many other cash rewards credit cards offer a higher percentage of rewards on certain categories of purchases, such as gasoline or groceries. This is worth consideration as the options are weighed.
Other Than The Rewards, Where Does This Card Stand?
Backed by Visa, the Chase Free Cash RewardsSM Visa Card is indeed accepted almost everywhere, so that's a plus. The credit card does not charge an annual fee as many others do – again, another upside. However, for a credit card intended for those with good and excellent credit, the grace period of 20 days is not quite up to par.
The Final Word
Do not be mistaken, the Chase Free Cash RewardsSM Visa Card is not a bad choice by any means, but there are other cards available that out deliver it in just about all aspects.