Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Chase.
Updated May 31, 2017
Full Card Review
You’ve probably heard about the Chase Freedom® cash-back card, but what about the Chase Freedom Unlimited® card? With a 1.5% flat-rate cash-back program and no annual fee, users earn 1.5% cash back on all purchases – automatically. The Chase Freedom Unlimited® is straightforward, with no caps on rewards earnings or shifting bonus categories.
It also comes with a killer sign-up bonus, higher than most of the other flat-rate cash-back cards in the market. If you spend $500 on card purchases in the first 3 months, you can earn $150 as an introductory bonus. You can also earn $25 cash back when you add your first authorized user and make your first purchase within the same 3-month period.
Where the Chase Freedom Unlimited® card really stands out, though, is its flexibility in rewards redemption. You earn 1.5 Ultimate Rewards® points for every dollar spent. These can be redeemed for cash back or statement credit in any amount at anytime. You can also transfer rewards to other Chase cards to maximize their value. And since the Chase Freedom Unlimited® is part of the Ultimate Rewards® family of cards, you can also use your rewards toward travel and gift cards on the Chase rewards portal. Cardholders can even redeem rewards at merchants that accept the Chase Freedom® mobile app, like Starbucks, Regal Cinemas, Best Buy, and Target. Best of all, your Chase Ultimate Rewards® won’t expire as long as your account is open.
Plus, the rewards also don’t come with any minimum redemption rules. You can redeem for cash back or rewards in any amount. That means Chase Freedom Unlimited® cardholders will be able to redeem every cent earned on the card, a rare benefit among cash-back cards.
Since the goal of a flat-rate cash-back card is to increase rewards earning across the board, you will earn the same amount on any purchase. If you find yourself spending mostly in one category, like the grocery store or gas station, you may find more value in a card with bonus categories. But if you make many different types of purchases throughout any given month, Chase Freedom Unlimited® could be right for you.
Between the sign-up bonus, cash-back program, and versatile rewards options, it’s clear to see why the Chase Freedom Unlimited® is touted as a great option for consumers that favor flexibility and value. It’s especially great for those that already know and use the Chase Ultimate Rewards® platforms.
Rewards and Benefits
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.99-25.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
- Unlimited 1.5% cash back on every purchase — it's automatic
- Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
- No minimum to redeem for cash back
- Cash Back rewards do not expire as long as your account is open
- Free credit score, updated weekly with Credit Journey(SM)
- No annual fee
Requirements, Costs & Fees
- Credit needed: Good, Excellent
- Purchase APR: 16.99%- 25.74% Variable
- APR for Cash Advances: 26.99% Variable% Variable.
- Cash Advance Fee: $10 or 5.0%, whichever is greater.
- Penalty APR: None.
- Annual Fee: $0.
- Foreign Transaction Fee: 3% of each transaction in U.S. dollars.
- Late Payment Fee: Up to $15 if the balance is less than $100; up to $27 if the balance is $100 to less than $250; up to $37 if the balance is greater than $250.
- Returned Payment: Up to $37.
Advertiser Disclosure: The card offers that appear on this site are from companies from which SmartAsset.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). SmartAsset.com does not include all card companies or all card offers available in the marketplace.
Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.