Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
Earn unlimited 1.5% cash back on all other purchases.
Earn 5% on Chase travel purchased through Ultimate Rewards®, 3% on dining and drugstores, and 1.5% on all other purchases.
No annual fee.
0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
Who is the Chase Freedom Unlimited Card for?
The Chase Freedom Unlimited Card will bring many benefits to those with a high enough credit score to obtain it. This card is great for straightforward, uncapped, cash back rewards. Although commonly regarded as a cash back credit card, it is also an excellent card for racking up travel rewards, easing into interest payments, and achieving a bonus within the first three months. The ideal candidate for this card is fee-averse and someone who is looking for a very satisfactory rewards program.
The card possesses a great rewards program, with 5% cash back on travel purchased through Chase, 3% on dining and drugstore purchases, and 1.5% on all other purchases.
This credit card is most beneficial to those who intend to use the card for everyday purposes and take advantage of its 0% introductory APR on their interest payments.
APR and Annual Fee Benefits
The Chase Freedom Unlimited Card is appealing to many users because of the variety of perks it offers. Two of these benefits include the card’s gracious 0% introductory APR and its absence of an annual fee.
If you're looking to ease into interest payments, this card comes with 0% intro APR on both new purchases adn balance transfers for the first 15 months. After that, depending on your credit score the APR will be between 14.99 and 23.74%. This makes the card a terrific fit if you want an intro APR period to finance a big purchase - like mattresses, a big trip, car payments, etc. This is another reason why the Chase Freedom Unlimited card is an excellent choice for people who will use it daily, since it offers limited interest on payments.
This card comes with a Balance Transfer Fee of 5% or $5, whichever is greater. Balance Transfer Fees are standard and this one is comparable to the average credit card. However, this card is industry-leading when considering this card comes with a generous rewards program.
As if low-interest APR and the cash back rewards weren't enough, cardholders will adore that this card comes with no annual fee. This is one quality that sets the Chase Freedom Unlimited card apart from other similar cards. Instead of spending hundreds of dollars annually simply to maintain the ability to use the card, this money can go to other, more fruitful uses (such as investing in travel points).
Travel Benefits
Because the Chase Freedom Unlimited card focuses on low interest and no annual fee, it is fairly common for cardholders to compliment this card with travel benefits by opening the Chase Sapphire Preferred Card or Chase Sapphire Reserve card.
Chase Travel Partners include:
Airline Partners:
Hotel Partners:
Opening the Chase Freedom Unlimited with the commonly paired Chase Sapphire Preferred is one of the fastest ways to supercharge your rewards points. Using this approach, we suggest that Freedom Unlimited cardholders trade in the $200 bonus fee for 15,000 Ultimate Rewards points. Besides this excellent transfer-partner deal, owning the Chase Sapphire Preferred in tandem with the Chase Freedom Unlimited allows you to earn 2x rewards on dining and travel, which allows you to rotate cards depending on what you’re purchasing. For restaurants and travel, use the Sapphire Prefered. For all other purchases, use your Freedom Unlimited (which costs you nothing to open) to get 50% more reward value. As you earn cash back rewards, simply convert them to travel points to maximize your value. The transferring of points process takes three easy steps:
The process of transferring points between cards is simple and easy. This allows for an effortless exchange of points between cards. Therefore, if you end up deciding to not pool your points towards travel or have some leftover, the transferring of reward points back will not be a challenge. It is a good idea to consider applying for both of these credit cards, as owning both will allow you to maximize the value.
Rewards
The average American spends $60,000 a year. This data sheds light on the average dollar amount Chase Freedom Unlimited card users can gain from rewards at an annual rate. The first-year dollar value is noticeably higher at $476, but each year following results in an estimated $276 in rewards. For an annual fee of $0, these rewards are robust and should be considered when deciding on the credit card that best suits you.
Something to keep in mind is while other credit cards require annual fees, they also procure more benefits, rewards, and bonuses for their customers. Depending on the person, you may get more out of an expensive annual fee credit card if it will be heavily used. This is because the rewards may offset the costs in this case. However, the Chase Freedom Unlimited sets itself apart because you know you will get positive value from this card. There is no annual fee, despite the high and versatile rewards rate.
Welcome Bonus and Cash Back
While there are many benefits to the card, its standout feature is its initial bonus. This bonus catches the eye of many potential buyers since it is extremely generous and not difficult to fulfill. Right now, cardholders will get a $200 bonus once they spend $500 on purchases in their initial 3 months from account opening. This primary cash back bonus is also coupled with the 5% cash back on grocery store purchases and travel, 3% on dining and drugstore purchases, and 1.5% on all other purchases. The cash back has no minimum redemptions, meaning you can get cash back for any amount. These two factors result in the card having a firm reputation as a solid cash back credit card.
Annual Fee
As previously stated, the annual fee for this card is $0. This makes the card very attractive to many people, since it offers an assortment of benefits and rewards without charging a fee. Since the average card holder should earn $276 in rewards annually, this lack of an annual fee really strengthens the return on this card.
Conclusion
The Chase Freedom Unlimited card is a great choice as a day-to-day card because it is easy to manage but doesn't compromise on the rewards. Some of its greatest strengths include its $0 annual fee, transferrable reward points, and 0% APR interest for the first 15 months. This card is therefore beneficial for people who want limited fees, like to travel, and want to take advantage of no interest payments until 2022.
Clyde is an always-free service. We’re passionate about financial transparency and strive to get you the most for your money.
We are serious about security. We encrypt all the data you share with us to ensure your experience is both easy and safe.