Why we like this card: The Chase Freedom Unlimited card is a well-rounded rewards card, offering generous cash-back earnings in a variety of categories. The $0 annual fee and an introductory 15-month 0% APR make this card particularly attractive to budget-conscious cardholders.
Pros
- 0% intro purchase APR for 15 months from account opening (after that, the variable purchase APR will be 19.74%28.49%)
- Up to 5% cash back
- $0 annual fee
Cons
- Low sign-up bonus compared to other cards
- Foreign transaction fee
Chase Freedom Unlimited: Overview
APR
- Intro: 0% intro purchase APR for 15 months from account opening (after that, the variable purchase APR will be 19.74%28.49%)
- Purchase: 19.74%28.49% variable
- Balance transfer: 0% intro balance transfer APR for 15 months (intro balance transfer fee: $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days)
- Cash advance: 29.74% variable APR, plus a fee of either $10 or 5% of the amount of each transaction, whichever is greater.
- Penalty: up to 29.99% APR
Annual fee: $0
Foreign transaction fee: 3% of the amount of each transaction in U.S. dollars
Late payment: up to $40
Returned payment: up to $40
The Chase Freedom Unlimited card is a versatile credit card that offers a comprehensive rewards program for everyday purchases. This card stands out for its ability to earn unlimited 1.5% cash back on all purchases. The rewards program also extends to specific categories such as travel purchases made through the Chase Ultimate Rewards portal, dining at restaurants, and drugstore purchasesall of which earn 5% cash back. The card features no annual fee, adding to its appeal for budget-conscious consumers. To incentivize new cardholders, it provides a $200 signup bonus after meeting spending requirements.
Moreover, the Chase Freedom Unlimited card includes benefits that go beyond its cash back rewards program. That includes an introductory 0% APR for the first 15 months after card approval, which applies to both purchases and balance transfers. The card also comes with additional perks, including purchase protection, extended warranty benefits, complimentary three-month DashPass and Instacart+ membership, and 5% cash back on Lyft purchases (through March 2025).
Chase Freedom Unlimited: Rewards
The Chase Freedom Unlimited card offers a tiered rewards structure:
- 5% cash back on travel purchased through Chase Ultimate Rewards
- 3% cash back on dining at restaurants, including takeout and eligible delivery services
- 3% cash back on drugstore purchases
- 1.5% cash back on all purchases
Additionally, new cardmembers can earn a $200 bonus after spending $500 within the first three months from account opening.
How to redeem Chase Freedom Unlimited rewards points
Chase offers several ways to use your cash back rewards points.
Book travel through Chase Ultimate Rewards portal
If youre looking to get the most value out of your rewards, booking travel through the Chase Ultimate Rewards portal is one of your best options. Normally, each reward point is worth one cent when redeemed for cash, but if you transfer points earned via your Chase Ultimate rewards card to one of your premium cards, you can boost their value when redeemed for travel in this way. For example, transferring points to your Chase Sapphire Reserve card will boost their value to 1.5 cents per point.
Transfer points to travel partners
The Freedom Unlimited card also allows you to transfer your points to Chases travel partners at a full 1:1 value ratio, which includes several airline and hotel loyalty programs.
Pay yourself back
The Pay Yourself Back program, introduced in 2020, helps certain customers with eligible cards get higher redemption values on points when requesting a statement credit. For Freedom Unlimited cardholders, points are worth 1.25 cents when redeemed this way.
Pay with points
Chase also allows you to use your points when making purchases directly at select merchants. First, you need to enroll in the program. Then youll see your total points available displayed at checkout, and you can choose how many points you want to allocate toward the purchase.
Buy experiences
Chase cardholders get access to exclusive experiences and events that can be purchased with points, including sporting events, concerts, and culinary experiences.
Redeem for gift cards
You can use rewards points to buy gift cards from over 175 popular retailers and restaurants. Keep in mind that point values may vary depending on the specific gift card. In general, however, one point is worth one cent when redeemed this way.
Additional benefits
- Zero liability protection: You wont be liable for unauthorized charges made with your card or account information.
- Purchase protection: Get covered against damage or theft up to $500 per claim and $50,000 per account on new purchases for 120 days.
- Extended warranty protection: The U.S. manufacturers warranty is extended by an additional year, on eligible warranties of three years or less.
- Trip cancellation/interruption insurance: If your trip gets canceled or cut short due to sickness, severe weather, or other covered situations, you can get reimbursed up to $1,500 per person and $6,000 per trip for your pre-paid, non-refundable passenger fares.
- 24/7 fraud monitoring: Chase will monitor your card for fraud 24/7 and can text, email or call you if there are any unusual purchases.
- Auto rental collision damage waiver: Receive secondary coverage for theft and collision damage for most cars in the U.S. and abroad. You must first decline the rental companys collision insurance and charge the entire rental cost to your card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance while youre away. (You will be responsible for the cost of any goods or services obtained.)
- DashPass: Get three months of DashPass for free, after which youre automatically enrolled in DashPass at 50% off for the next nine months. You must activate by December 31, 2024.
- Lyft: Get 5% cash back on Lyft rides through March 31, 2025 (3.5% cash back in addition to the 1.5% cash back you already earn).
- Instacart: Receive free membership to Instacart+ for three months. You must enroll by July 31, 2024.
Is Chase Freedom Unlimited right for you?
The Chase Freedom Unlimited card is a solid rewards credit card that offers competitive cash back rates on a number of categories, especially travel. If youre looking for a card with a straightforward reward structure that doesnt require you to keep track of rotating categories, and/or a rewards card that caters to frequent travelers, the Freedom Unlimited could be a good choice for you.
Credit cards similar to Chase Freedom Unlimited
There are several cash back credit cards on the market that work similarly to the Chase Freedom Unlimited. So before applying for this card, see how it compares to a couple of other options.
Discover it Cash Back vs. Chase Freedom Unlimited card
A similar card to the Chase Freedom Unlimited is the Discover it Cash Back card. With Freedom card, you also have the opportunity to earn up to 5% back. However, the Discovers it Cash Back card rotates its top earning category quarterly, and rewards are capped at $1,500 in qualifying purchases per quarter. The base cash back rate is also slightly lower than the Chase Freedom Unlimited at 1%.
U.S. Bank Cash+ Visa Signature Card vs. Chase Freedom Unlimited
The U.S. Bank Cash+ Visa Signature Card is another rewards card that allows you to earn up to 5% back, has no annual fee, and comes with a $200 sign-up bonus. The main difference between this card and the Chase Freedom Unlimited is that the Cash+ card requires you to select two rotating bonus categories each quarter in order to earn 5% back. If you fail to select categories, youll earn a default 1% cash back rate on all purchases. The 5% rewards bonus is also capped at $2,000 in spending per quarter.
Frequently asked questions
What is the difference between Chase Freedom FlexSM and Freedom Unlimited?
The main difference between these two cards is that the Chase Freedom Flex earns the most cash back in certain rotating categories, while the Freedom Unlimited earns consistent rewards in the same specific categories.
What is the 5/24 rule?
This is a policy that Chase has regarding its credit cards. According to this rule, you will likely not qualify for a new Chase credit card if youve opened five or more Chase cards in the past 24 months.
What credit score is needed to get a Chase Freedom Unlimited card?
In general, credit card applicants need good credit to qualify for the Chase Freedom Unlimited card, which is defined as a FICO credit score of 670 or higher. However, you may need a higher score to qualify, depending on your overall credit and financial profile.
Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.
