What Are the Pros and Cons of a Chase Credit Card?

As of 2015, the pros of Chase Freedom credit card include the ability to redeem rewards for gift cards, flights and merchandise; unlimited rewards without expiration; and high cash back rewards, according to About.com. Its drawback is the requirement to sign up to obtain the 5 percent cash back premium.

The Chase Freedom card is suitable for individuals who aim to collect cash rewards on credit card purchases, notes About.com. Its rewards include 5 percent cash back on particular purchases, such as groceries and gasoline, and 1 percent cash back on other items, as of 2015. The credit card also offers a $100 cash back bonus if a cardholder spends $500 during the initial three months after opening an account. Moreover, cardholders with a Chase checking account earn a 10 percent bonus.

The advantages of using the Chase Slate credit card, another product offered by Chase, include free interest on certain daily new purchases if the customer pays them in full every month and separation of repeated everyday purchases from bigger purchases, says About.com. The card also enables customers to create a budget and repayment plan to pay off bigger balances. The main disadvantages of using the card are the high interest rates and the complex terms. The program can be confusing for many people, leading to penalties as well as higher balances and finance charges.