Chase is one of the largest commercial banks in the United States. It offers a great product line of checking and savings accounts, auto loans, mortgages, certificates of deposits, credit cards, and many others.
Each of these products has a very comprehensive subcategory meeting the consumers’ needs from every single perspective. Credit cards, in their turn, are separately targeting individuals and commercial customers.
If you are looking for a lower annual percentage rate, higher rewards, or flexible card for your business expenses, Chase has a great variety of options to make your financial life more manageable.
How to choose the right credit card?
Choosing the right credit card is one of the most important financial decisions you need to make. There are a lot of factors you need to consider in order to choose the credit card you really need.
Let’s see some of the things which may help you make an optimal decision.
Many people who want to apply for credit only look at the favorable conditions the card offers. However, you should see whether the card has the terms that would really make your credit better off.
- Do you spend more on supermarkets or on groceries?
- Do you travel a lot or own a business?
Think of your day-to-day expenses while making a credit card decision and plan your budget accordingly.
According to Forbes, many customers base their decision seeing a catchy ad. This is an entirely wrong step while choosing the right credit card.
Think of a card as a whole, all of its features, benefits, and fees. After which, consider whether or not this is a good option for you.
Basing your decision solely on the marketing of the product is the wrong thing to do.
This is one of the most important features you can consider while looking for a credit card. Let me explain how price protection feature works.
If you purchase something from a store and it goes on sale within a certain period (usually up to three months) your card issuer will be able to refund you the overpaid amount.
In this way, you can save a lot of money and be able to meet your yearly financial goals.
Many of the credit cards we will discuss further offer favorable conditions, with no annual fee and sign-up bonus. One of the first things you should consider is whether the offered sign-up bonus covers the annual fee.
Let’s say if the issuer offers you $70 sign-up bonus and $100 annual fee, maybe you should look in the market to see whether there are more favorable conditions. Others may offer you $105 sign-up bonus and $100 annual fee.
In this case, you are certainly better off, and you would rather choose the second option over the first one to be able to save more money.
This is probably the most important thing you should consider before applying for a credit card. In a highly competitive financial market, there are dozens of options that could fit your needs better.
- If your goal is to reduce interest paid on existing debt, consider a balance transfer credit card.
- If you want to reduce your monthly fees and get your rewards as a statement credit, consider a cashback card.
- If you have a low credit score and wish to rebuild your credit, consider a secured credit card.
There are many other options that you can consider only after identifying your financial needs and wants.
As we have discussed what are the main factors to consider before applying for a credit card, let’s see what options Chase has for you.
While reading the terms and conditions presented below, make sure you keep in mind the above-discussed five factors.
Chase Freedom is one of the most popular credit cards among the different types of Chase cards.
- The card has a special bonus offer of $200 after you spend $500 within the first three months as you open an account.
- For the first 15 months, you will have a 0% introductory annual percentage rate, after which the rate will vary from 16.99% to 25.74%.
- Additionally, within the first 60 days of your account opening, you will be able to transfer balances with a 3% rate and a minimum transfer of $5. After the 60 days period, the charge on balance transfer will be 5% and again with a minimum of $5.
- You can also earn 5% cashback on up to $1,500 in specified categories and 1% on any other purchases. For all the features that come along with Chase Freedom credit card, there is no annual fee.
The cardmembers have written a lot of positive reviews about this card. One of the customers has used this card for years and says he really has zero complaints about both customer service and credit card features.
Others complain saying that the annual percentage rate starting from 16.99% is very low in the market. Additionally, many say that after years of being a Chase customer, their credit limit was not increased considerably.
Overall there are almost 15,000 cardmember reviews on the Chase website with an overall rating of 4.5 stars out of 5.
Chase Freedom offers unlimited cash back at the fixed 1.5% rate on every purchase you make. The good thing is that there is no minimum amount at which you can redeem your cash backs.
- For the first 15 months, you will have an introductory 0% annual percentage rate on purchases and balance transfers.
- After the first 15 months of your account opening, a 16.99% to 25.74% variable rate will be charged.
- As for the annual fee, the amount is $0 for the entire period of your card usage.
- A special offer is also available for the customers. As you spend $500 within the first three months of your account opening, you can earn a $200 bonus.
- Additionally, as long as your account is open, cashback rewards of a 1.5% will keep coming.
Cardmembers express their positive opinion about Chase Freedom Unlimited, saying it offers excellent customer service, favorable cash back rewards, and excellent fraud protection. Others argue saying that it does not provide a credit line increase.
In support of their argument, cardmembers say that the other credits they currently have, offer credit line increase every 4 to 6 months.
Despite the debatable reviews the card has on the official website, positive comments and experiences overweight and the card remains as one of the bests among Chase credit cards.
One of the most popular and loved credit cards among Chase products is Chase Sapphire Preferred. The card has many bonuses and reward offers for its users.
- After you spend $4,000 within the first three months as you open your account, you will earn 60,000 bonus points, which can be redeemed to $750 worth of travel rewards through Chase Ultimate rewards.
- Additionally, you can earn 2X points on purchases while traveling and dining. The annual fee of this card is $95, and you will be charged a variable annual percentage rate from 15.99% to 26.99%.
If you travel frequently, cardholders definitely recommend Chase Sapphire Preferred saying it offers an excellent opportunity to save a lot of money and enjoy your traveling.
On the other hand, some reviewers don’t think Chase Sapphire Preferred is user-friendly.
- More specifically, many had issues tracking their progress and seeing whether they have been eligible for the reward of 60,000 (when spending $4,000 in the first three months).
- According to the Chase official website, the overall rating of Chase Sapphire Preferred is 4.5/5.
Despite the flaws that the card may have customers still view this card as their best friend while traveling.
This card is specially designed for business travelers to help them save more money.
- You can earn 80,000 bonus points as soon as you spend $5,000 in the first three months of your account with Ink Business.
- The bonus points can be redeemed via Chase Ultimate Rewards and be worth $1,000 in business travel expenses.
The card offers fraud protection, purchase protection, and many other personalized features to help you monitor your business activities.
- Other rewards include earning 3 points per dollar on the first $150,000 if you spend for the following categories: traveling, phone services, shipping costs, advertising purchases through social media.
- On any other purchases per dollar spent you can earn 1 bonus point.
- If you are interested in the card, know that the annual fee is $95 and the annual percentage rate varies from 17.99% to 22.99% based on your credit score and the market’s prime rate.
Cardholders of Chase Ink Business Preferred say that this is one of the greatest cards they’ve ever had.
Many of the reviewers who are business owners say that with the help of Ink Business Preferred, they were able to save a couple of hundreds of dollars.
Others argue saying that the disadvantage of Ink Preferred Business is that the credit card limit is very low for business operations.
Overall, the rating of this card is 4.5/5 stars, with the majority of reviews being positive.
This card is very similar to Chase Ink Business Preferred and has many similar bonuses and rewards.
- However, with Ink Business Unlimited, you can earn 1.5% cash backs anytime and on any purchase as long as your account is open.
- The annual percentage rate for the first 12 months is 0%, after which a yearly variable rate from 15.24% to 21.24% will be charged.
- The annual fee of Chase Ink Business Unlimited is $0 not only for the introductory period but for the entire usage. The card has many benefits including $500 cashback as you spend $3,000 in the first three months of your account.
You can redeem your rewards anytime to traveling, gift cards, or even cashback. You can monitor your business activities 24/7.
Chase helps you to manage your cash flow effectively by separating business and personal expenses for you to ease tax calculations later.
The overall rating of this card according to creditcards.com is 3.5 out of 5 stars and from Nerdwallet 4 out of 5. Customers are usually unsatisfied with how long their payments take to be transferred, and in many cases, it results in overdue principal and interest amounts.
On the other hand, customers share their positive experience saying that rewards and bonuses Ink Business Unlimited provides, helps them save more and operate their business more effectively.
One of the newest cards issued by Chase is Marriott Bonvoy Bold.
- As you spend $2,000 on purchases within the first three months of your account opening, you will get bonus points of 50,000.
- The card has no annual fee, and the annual percentage rate is variable from 17.99% to 24.99%.
- You can earn three bonus points per dollar of purchase in any Marriott Bonvoy Hotels, 2 points on every dollar of travel expenses and 1 point on any other purchases.
Overall, customers like this card very much and use it to enjoy their trips. However, many say that the card has precise criteria for rewards and bonuses and is not very flexible for day-to-day usage.
However, if you travel a lot and especially choose Marriott Bonvoy hotels as your residence, this card is a perfect opportunity for you to save more.
One of the Business credits Chase offers is Ink Business Cash.
- After you spend $3,000 within the first three months as you open an account, you will get $500 worth of cashback.
- You can earn rewards on any purchase you make, including 5% cashback on specific business categories.
- For the introductory twelve months, you will have a 0% annual percentage rate, after which you will be charged a variable rate starting from 15.24% to 21.24% depending on market prime rate.
Customers have a positive experience when using this card, among many reviews, people share how Ink Business Cash helped their business to prosper.
Others say that for small companies, the interest rates of the card is way too high. However, despite the drawbacks Ink Business Cash may have, customers still like it and find it very useful in taking care of the financial well-being of their businesses.
The overall rating of Ink Business Cash is 4.1 stars out of 5.
The one thing that unites all of the Chase credit cards and is undeniable by customers is the simplicity of usage. You can not deny that Chase’s terms and conditions are very easy to follow and use.
For the majority of customers, the bonuses and rewards offered by Chase put them at the top of their priority list when choosing a credit card from a vast market offers. If you think of getting a card for your business activities or traveling or just for cashback rewards, Chase has a great variety of options for you to consider.
Many of the cards target people who want to save more, and others include those who regularly travel and want to manage their budget effectively.
Always remember that you need to think of the main purpose of applying for a credit card.
- What will the credit card be used for?
- Do you need it for personal purposes or for business expenses?
- Will you use the rewards or go for the one which has lower rates?
Make sure you evaluate your financial needs correctly and choose the most optimal option from the list.
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