The Chase Freedom credit card is one of the strongest and most easily understood reward cards on the market.  Eschewing limits and expiration dates in favor of ease of use, the Freedom card is an attractive option for those who like the idea of a rewards card but who aren’t interested in poring over fine print or navigating a Kafkaesque maze in order to redeem their bonuses.

The card itself, excluding the bonuses, offers a nice package.  The Freedom card starts with a 12-billing cycle APR at 0% for “elite“ members.  Standard pricing includes a 3-billing cycle 0% APR term..  After the clock runs on that initial offer, the rate will vary based on the card holder’s application information and credit history (which also determines the “elite“ vs. standard arrangements on the introductory rate).  Generally speaking, variable rates tend to vary between 9.24% and 18.24%

That makes the Chase Freedom credit card a very attractive opportunity for anyone with good to excellent credit.  The interest rate compares favorably with most cards on the market and the 0% APR term is a very nice perk.

That’s really only the first part of the Chase Freedom story, though.  The rest consists of a very strong rewards program that provides real benefits to cardholders without giving them headaches.  Although Chase has rolled back some benefits in the face of the current recession, the current package is still far more generous than what you’ll find with most other cards.

The main complaint about most credit card reward systems is the fact that you must generally use your points within a specified time frame, or they may expire.  Chase is doing something different with this card, though.  Your points never expire.  As long as you have the account, you can accumulate points.  You won’t be forced to cash in for something you don’t really want just because you fear that your points will otherwise “rot on the vine”.  The Chase Freedom card also allows you to accumulate as many points as you’d like.  There are no limits.  The griping that follows so many thwarted attempts to redeem points due to caps and time limits that we see with other cards just doesn’t happen with the Freedom card.  Chase shoots straight with this product and makes it simple and convenient to redeem your rewards.

Points are easy to calculate, too.  You’ll earn a point for every $100 spent.  It’s an easy 1% conversion.  You can earn additional points by making purchases in special categories like gas, home improvement and certain stores.  These rotating opportunities can log you a 3% return in points.  If you make purchases while shopping online with Chase, you get a whopping 10% cash back bonus.  Members in good standing will also receive quarterly bonuses.

That makes the Freedom card pretty inviting.  It actually gets better, though.  Once you get your card and make your first purchase, you automatically qualify for a $50 gift card.  That’s right, any purchase immediately hands you a whopping 5,000 points.

There are fancier cards on the market, many of which offer more dynamic and flexible reward programs.  Few, however, are as generous or as easy to use as the one associated with the Chase Freedom credit card.  Even if you did find a slightly better reward structure, it’s highly unlikely that the actual terms of the credit card would be as good as those of the Freedom card.  This is one of the best credit cards in its niche.