Please Note: Information about the Chase Freedom Unlimited® and Discover it® Cash Back has been collected independently by TheSimpleDollar.com. The issuer did not provide the details, nor is it responsible for their accuracy.
With the Chase Freedom Unlimited® credit card, you’ll get unlimited rewards in the form of 1.5% cashback on all purchases made with the card. Chase doesn’t charge an annual fee for Freedom Unlimited® cardholders, making this an even better deal.
Your rewards accumulated starting with your very first Chase Freedom Unlimited® credit card purchase, and you’ll enjoy an introductory 0% APR for the first 15 months of owning the card, then a ongoing 16.49% - 25.24% Variable APR is applied.
The rewards never expire, so you can let them pile up until you are ready to go on that dream trip. Or, you can choose to have your cashback rewards regularly and automatically redeemed to lower the balance on the card.
You’ll also get a $150 bonus reward if you spend $500 or more within the first 3 months you own the card.
|Card||Purchase APR||Annual Fee||Intro Bonus||Credit Needed||Key features|
|Chase Freedom Unlimited®||0% for 15 months, then ongoing 16.49% - 25.24% Variable APR||$0||$150 welcome bonus when you spend $500 with the card within three months of opening the account||Good to excellent||1.5% cash-back rewards on every purchase made with the card|
What we like about it
The bonus offer for new Chase Freedom Unlimited® credit card users is $150, which is a nice perk for a spending level of just $500 in three months. To get the bonus, you’ll need to spend an average of $167 per month with the card, which is a low bar compared to other credit card bonus requirements.
The low 0% APR for 15 months on new purchases and balance transfers is notable (then a ongoing 16.49% - 25.24% Variable APR), as well. This means you could potentially save money by moving your credit card debt over to the Chase Freedom Unlimited® credit card, so long as you pay it off within one year and three months of opening the account.
Things to consider
Even though the spending requirement for the Chase Freedom Unlimited® credit card bonus reward is just $500 over the course of three months, people who aren’t used to pulling out their credit card for everyday purchases may have problems reaching that level of spending. If you are considering this card but aren’t a frequent credit card user, make a plan to dedicate some of your larger purchases to this card (even if it’s just temporary) for the first three months you own the card so you can be sure to get the $150 bonus.
For credit card users who habitually carry a balance on their cards from month to month, the 15 month introductory 0% APR may look like a great deal. It is, but the APR goes up to a 16.49% - 25.24% Variable after the introductory period ends. That interest rate could help you rack up a bigger credit card bill than you’d like if you don’t pay off your balance before your 16th month with the card.
Chase Freedom Unlimited® cash back details
Unlimited cash-back rewards are a flat 1.5%. Unlike credit cards with rotating categories, this simple cash-back card offers the same flat rewards rate for every purchase.
While you have many choices for a no-annual-fee credit card, the Chase Freedom Unlimited® credit card is the only one with a flat rewards rate of 1.5%. So, cardholders don’t have to think about how or where they are spending money as it relates to rewards. Competing cards offer higher cashback rates on certain categories but their “everything else” category is consistently 1%.
With the Chase Freedom Unlimited® credit card, you’ll also get credit card perks like zero liability protection, purchase protection and extended warranty.
Chase Freedom Unlimited® fees
While you’ll enjoy 0% introductory APR on purchase for the first 15 months of owning the Chase Freedom Unlimited® credit card, that APR goes up to 16.49% - 25.24% Variable after the introductory period ends.
There’s no annual fee, but you’ll pay up to a $39 late fee if you miss the card’s due date.
How does it compare to other cash-back credit cards?
The Chase Freedom Unlimited® does offer a solid cash-back rate, but if you’re willing to work a little bit harder, you can earn more with a different credit card.
For example, you could get 5% cashback with the Discover it® Cash Back credit card on spending at grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. But, the category changes every three months. All spending outside the focus category during any quarter is a flat 1%. The intro bonus with this card is a match of cashback rewards earned at the end of the first year.
The offers 3% cash back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%. Cardholders get 2% cash-back rewards at U.S. gas stations and at select U.S. department stores. All other spending receives a 1% cashback reward. The welcome offer is $150 after spending $1,000 with the card within three months of opening the account. For credit card users who don’t routinely spend that much with their cards, the Chase Freedom Unlimited® credit card offers a better sign up bonus with a lower spending threshold.
The bottom line
The Chase Freedom Unlimited® credit card is among the best Chase credit cards. It’s an excellent choice for credit card users who want the simplest rewards program with the highest flat rewards rate across all spending categories. It’s non-existent annual fee and easy-to-get intro bonus make it a great choice among rewards credit cards.
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