Chase Freedom Unlimited review:New Welcome Offer Doubles Your Points (up to 10x) for Your First 12 Months,Chase Freedom Unlimited benefits,Transferring rewards with the Chase Freedom Unlimited,Which cards compete with the Chase Freedom Unlimited?,Is the Chase Freedom Unlimited worth it?
The Chase Freedom Unlimited® has replaced its previous, conventional welcome bonus with a more thrilling alternative. The only catch is that you’ll need to wait a year before you can start earning it.
Chase Freedom Unlimited
Credit score – Excellent, Good
APR – 20.49% – 29.24% Variable
Annual fees – $0
Bonus rewards – SPECIAL OFFER: Unlimited Matched Cash Back.
Welcome offer details – SPECIAL OFFER: Unlimited Matched Cash Back. Chase will automatically match all the cash back you earned at the end of your first year! There is no limit to how much cash back you can earn.
Certainly, here’s a summary of the pros and cons of the Chase Freedom Unlimited®:
Pros:
- Special Offer: Unlimited Matched Cash Back – Chase will automatically match all the cash back you earned at the end of your first year, with no limit on how much cash back you can earn.
- 1.5% Cash Back: Earn 1.5% cash back on all purchases.
- No Annual Fee: This card does not have an annual fee, making it a cost-effective choice.
- 0% Intro APR: Enjoy a 0% introductory APR on purchases and balance transfers for the first 15 months.
- Bonus Cash Back: Get extra cash back with 5x on travel purchases made through the Ultimate Rewards program, 3x on dining, and 3x on drugstore purchases.
- Additional 1.5% Cash Back: In the first year, you can earn an additional 1.5% cash back on up to $20,000 in purchases.
Cons:
- Fees: There is a 5% fee for cash advances and balance transfers.
- Foreign Transaction Fee: A 3% foreign transaction fee is charged on purchases made outside the United States.
- Good Credit Required: This card is available for individuals with a good credit score, so it may not be accessible to those with lower credit scores.
These pros and cons can help you determine if the Chase Freedom Unlimited® is the right credit card for your financial needs and spending habits.
The no-annual-fee credit card now presents an exceptional offer of unlimited matched cash back during your initial year as a cardholder. This can result in significantly more cash back rewards compared to the card’s prior bonus of $200, which required meeting specific spending criteria. The greater your card usage, the higher your bonus rewards, with the potential to earn up to 10% cash back on select expenses. Here’s a comprehensive overview of this groundbreaking new bonus.
Our evaluations and opinions are not influenced by our advertising relationships, but we may earn a commission from our partners’ links. This content is created independently from TIME’s editorial staff.
Chase Freedom Unlimited benefits
While cards with no annual fee may have fewer perks than premium counterparts, the Chase Freedom Unlimited® offers some notable features that are worth highlighting:
- Rental Car Protection: This card provides rental car insurance that covers theft and damage up to the actual cash value of most rented cars.
- Trip Cancellation and Interruption Insurance: Cardholders are covered for up to $1,500 per person and up to $6,000 per trip for eligible travel expenses on the card in the event of trip cancellation or interruption due to covered losses.
- Roadside Dispatch: You’ll have access to pay-per-use roadside assistance, which connects you with service providers in case of issues on the road.
- Extended Warranty Protection: This benefit allows you to extend the time period of warranty coverage by one additional year on original eligible warranties of three years or less.
- Purchase Protection: Your purchases are protected against theft and damage for 120 days after the date of purchase.
These features provide added value and security for cardholders, making the Chase Freedom Unlimited® an attractive option for those seeking a no-annual-fee credit card with practical benefits.
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If you lack an alternate card offering more comprehensive travel insurance and shopping protections, this card provides a commendable level of coverage, especially considering it has no annual fee.
Transferring rewards with the Chase Freedom Unlimited
On its own, the Freedom Unlimited operates strictly as a cash-back card and doesn’t permit the transfer of rewards to travel partners.
Nevertheless, if you happen to hold the Chase Sapphire Preferred Card, the Chase Sapphire Reserve, or the Ink Business Preferred Credit Card alongside it, you gain the ability to merge your rewards and access Chase’s extensive array of 14 hotel and airline partners.
The TPG team particularly enjoys the flexibility of transferring our Chase Ultimate Rewards to World of Hyatt. Some of us, like TPG’s director of content Summer Hull, opt to utilize these rewards to book upscale Hyatt properties that might otherwise exceed our budget. On the other hand, some, like myself, prefer to maximize our rewards by using them for fantastic deals on Hyatt’s Category 1 properties.
Chase’s transfer partners extend beyond World of Hyatt and encompass valuable choices such as United MileagePlus, British Airways Executive Club, and Singapore Airlines KrisFlyer. Regardless of your travel style and preferences, Chase’s transfer partners offer excellent opportunities to make the most of your rewards.
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Which cards compete with the Chase Freedom Unlimited?
If your primary focus is on earning cash-back rewards, you may find one of these alternatives to be a more suitable choice. Similar to the Freedom Unlimited, these cards earn cash-back rewards and do not involve an annual fee.
- For 5% Back on Rotating Categories: Consider the Chase Freedom Flex, which offers 5% cash back on up to $1,500 in combined quarterly bonus category purchases after activation. Like the Freedom Unlimited, it enables you to transfer rewards to Chase’s partners when paired with the right card. For in-depth information, please refer to our comprehensive review of the Chase Freedom Flex.
- For 3% Back on Various Categories: The Blue Cash Everyday® Card from American Express provides 3% cash back on spending at U.S. supermarkets, U.S. online purchases, and U.S. gas stations annually (up to $6,000 for each category, then 1%), along with 1% on all other purchases. For more details, explore our thorough review of the Amex Blue Cash Everyday.
- For Increased Cash Back on Non-Bonus Spending: The Citi® Double Cash Card (see rates and fees) offers 2% cash back on all purchases (1% when you make the purchase and 1% as you pay). For an extensive analysis, please consult our detailed review of the Citi Double Cash.
For additional choices, you can explore our lists of the best cash-back cards and the best cards without an annual fee.
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Chase Freedom Unlimited offers (potentially) its best bonus ever
The Chase Freedom Unlimited® was already an exceptional no-annual-fee rewards credit card with robust benefits and an above-average earning potential (for complete details, see our Chase Freedom Unlimited review). With this new bonus, your initial 12 months of card membership will bring you double the standard earning rate. Here’s what you can expect:
- A 10% cash back on travel purchases made through the Chase Travel Portal (typically 5%).
- An impressive 6% cash back on dining and at drugstores (normally 3%).
- A solid 3% cash back on all other eligible purchases (usually 1.5%).
It’s important to note that your earnings will be matched only after the initial 12 months. For instance, if you maintain an average monthly spending of $350 on dining, $300 on travel, and $1,200 on all other expenses:
You would earn $43.50 each month, resulting in an impressive $522 bonus at the end of the 12-month period.
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Pair the Chase Freedom Unlimited with other Chase cards to unlock your rewards potential
It’s important to be aware that although Chase promotes the Chase Freedom Unlimited® as a cash back credit card, it actually accrues Chase Ultimate Rewards® points, not cash. These points offer a multitude of redemption options, such as converting them to cash at a rate of 1 cent each, redeeming them for gift cards at a rate of 1 cent each (typically), or using them for your Amazon purchases at a rate of 0.8 cents each.
Nonetheless, you have the option to transfer the points earned with the Chase Freedom Unlimited® to airline and hotel loyalty programs for complimentary travel, provided you also hold one of the following Ultimate Rewards-earning cards:
- Chase Sapphire Preferred® Card.
- Ink Business Preferred® Credit Card.
- Chase Sapphire Reserve®.
As an illustration, you could transfer 25,000 Chase points to Hyatt, which could cover a five-night stay at a lower-tier Hyatt hotel, often valued at over $100 per night. This means you’d get more than $500 worth of value for your points, double the value you’d receive if you simply redeemed those 25,000 points for cash.
Do you qualify?
This cash-back matching offer is exclusively available to new applicants. If you already hold the card, your earned rewards won’t be subject to doubling. However, there is a workaround where you can apply for the card again by undergoing a “product change” to switch your existing Chase Freedom Unlimited® to another card, such as the Chase Freedom Flex℠ or the Chase Sapphire Preferred® Card. Following a brief waiting period, you can then submit a new application for the Chase Freedom Unlimited® to take advantage of the current bonus.
It’s important to note that Chase enforces a application restriction called the “5/24 rule.” If you’ve opened five or more credit cards from any bank in the past 24 months (with the exception of most small business credit cards), you will not be eligible to open the Chase Freedom Unlimited®.
Alternative cards
If the Chase Freedom Unlimited® isn’t a suitable choice for you or you don’t meet the qualification criteria, there are alternative options available.
The no-annual-fee Chase Freedom Flex offers 5% cash back on rotating bonus categories (up to $1,500 in spending each quarter, then 1%) after activation. Presently, the card’s bonus categories include PayPal, wholesale clubs, and select charities. Additionally, you’ll earn:
- 5% cash back on travel purchased through the Chase Travel Portal.
- 3% cash back on dining and at drugstores.
- 1% cash back on all other eligible purchases.
Furthermore, the card provides a $200 welcome bonus after you spend $500 on purchases within the first three months of account opening.
What’s even more appealing is that the Chase Freedom Flex accrues the same rewards currency as the Chase Freedom Unlimited: Chase Ultimate Rewards points. If you possess an eligible Ultimate Rewards–earning card (like the Chase Sapphire Preferred), you can convert your rewards into airline miles and hotel points, offering substantial value.
Double your reward points for a year with Chase Freedom Unlimited’s new welcome bonus
The Chase Freedom Unlimited® is now offering its most generous bonus ever: It will match the cash back you earn during your first 12 months in the form of Chase Ultimate Rewards points. Depending on your spending habits, this could translate into several hundred dollars in bonus rewards—or potentially even thousands of dollars if you optimize your points’ usage effectively.
Is the Chase Freedom Unlimited worth it?
Given the absence of an annual fee on the Freedom Unlimited, you can enjoy earning rewards without needing to rationalize any yearly costs. If you already possess a Chase Ultimate Rewards points-earning card, you can optimize your rewards-earning capabilities. Nonetheless, if your primary focus is on cash-back rewards, you may prefer a card with a more competitive earning rate.
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