Getting a look at the Chase Freedom credit card reveals a card by Chase Bank that someone with good, excellent or outstanding credit might want to have. This is especially so when the person asking for the card realizes how a rewards-type credit card like this can help leverage credit card debt effectively. For sure, the card currently comes with a number of attractive features.

For one, the Chase Freedom credit card offers a number of rebate-type rewards that can actually generate real cash back when the person having the card deluxe to receive rewards in that manner. Additionally, there is a $50 cash back reward given in the form of bonus rebates that can be turned into a $50 check, which is quite attractive. This reward is for the first purchase made by a new user of the card.

The attractive thing about this aspect of the Chase Freedom credit card is that the cash back reward will be given for a purchase, a transfer of balance from another credit card or a check written on the Chase credit card account. This gives this particular card a very nice versatility that other competitor cards may not have. It's a one-time bonus and current cardholders are not eligible, so keep that in mind.

In terms of the cash back reward programs currently available under the credit card, the first is what's called a “1% cash back” program. In it, the holder of the card will earn 1% rebates for every one dollar worth of net purchases. For example, a two dollar purchase would generate a two cent cash back reward. A $100 purchase would earn a one dollar cash back reward.

There are certain restrictions for this program, including that no rebate is given for balance transfers, cash advances and cash-like charges such as those seen when someone purchases travelers checks or money orders and the like using the card. There isn't a limit on the maximum number of rebates that can be awarded under the program, which is another attractive feature.

A very nice rebate program under the card, in addition to the 1% program, is a 10% to 20% cash back rewards program at select merchants whenever someone shops online through the Chase shopping mall website. Called the “Ultimate Rewards Mall,” it can make for very nice cash back discounts on a variety of merchandise. In addition, there's a 3% cash back feature in what the Chase Freedom credit card people call “rotating categories.”

The credit card issuer also offers a 0% introductory APR Chase pulls off of the credit application, which can be submitted online. This card seems mainly suited to those who have, as was said, good to outstanding credit. There are a great many rewards and it can be a good way to leverage credit card debt that will be carried as an account balance, which is really the only way these rewards cards work effectively.

For those planning on paying off the balance every month, it may be better to find a straight credit card with a low interest rate, though this one has no annual fee, for what it's worth.