Chase Freedom Unlimited Visa Review

Chase Freedom Unlimited

The Chase Freedom Unlimited card is a popular choice for those looking to earn cash back on their card purchases. The Chase Freedom card offers 1.5% cash back on every purchase you make. In addition to this generous cash back offer, Chase Freedom offers a 0% promotional APR rate and an attractive sign-up bonus.

Making a Purchase Using the Chase Freedom Unlimited Card

Earning cash back rewards on purchases is an attractive benefit for many consumers. However, there are many different cash back credit cards on the market. Today, CreditFast will help you evaluate the pros and cons of the Chase Freedom Unlimited card. This will help you determine if it’s the right cash back card for you.

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Chase Freedom Unlimited Pros:

  • The Chase Freedom Unlimited card offers a flat rate of unlimited 1.5% cash back on all purchases. Earnings are automatically credited to your account. Rewards are earned in points, but the conversion process is easy. Points earned with the Chase Freedom Unlimited card can be redeemed for a statement credit or gift card. They can also be paid out through direct deposit into your checking or savings account. There is no minimum redemption amount, and your cash back rewards never expire.
  • When you open a Chase Freedom Unlimited account, you can earn a $150 bonus if you spend $500 or more in the first three months. You can receive an additional $25 bonus if you add an authorized user who makes a purchase within the same time frame.
  • There is no annual fee to use the Chase Freedom Unlimited card. You can earn unlimited rewards as long as you have the card. You never have to use earnings toward paying for the use of the card.
  • The Chase Freedom Unlimited card offers a 0% introductory APR for the first 15 months. This gives you time to pay off a major purchase made soon after you open your Chase Freedom Unlimited account. Introductory rates after the promotional period are competitive, varying between 15% and 25%, depending on your credit score.

Maximize Chase Freedom® Earnings With Chase Ultimate Rewards®

Consumers who already have the Chase Sapphire Preferred® card or another card that is part of the Chase Ultimate Rewards® program, can maximize earnings for travel by using the Chase Freedom Unlimited card. Instead of redeeming your Freedom Unlimited points for cash, Chase will allow you to pool your earnings with your Chase Sapphire Preferred points. From there, you can transfer points to a number of travel loyalty programs at a 1:1 ratio. Some of the most popular Chase transfer partners are Marriott Rewards, Southwest Rapid Rewards®, United Airlines MileagePlus, and Hyatt Gold Passport. Alternatively, you can book travel through the Chase Ultimate Rewards portal at a 20% discount.

Chase Freedom Unlimited Cons:

  • Some cards offer a higher cash back percentage in certain categories. For example, the Chase Freedom® Card offers 5% cash back in a different rotating rewards category every quarter. Previous bonus rewards categories have included groceries, restaurants, and gas stations. The Chase Freedom card would help you earn greater cash back rewards in those categories if you chose to opt-in each quarter. However, the cash back reward for spending outside the bonus category is only 1%. So, unless you want to opt-in to bonus earning each quarter, the Chase Freedom Unlimited card may still be a better choice for you. Compare both Chase Freedom credit offers to see which Chase credit card is right for you.
  • The balance transfer fee for the Chase Freedom Unlimited card is 5%. If you’re planning to transfer a balance, you should consider a card with a lower balance transfer fee. There are credit cards on the market that offer a standard 3% balance transfer fee for the life of your card. You’ll also want to consider the Chase Slate card, which offers a promotional $0 balance transfer fee for new cardholders.
  • The fees charged for cash advances is high. The interest rate for cash advances through the Chase Freedom unlimited card is 25.24%. Interest begins accruing from the day of the transaction. There’s also an additional 5% transaction fee for each cash advance. If you plan to make cash advances using a credit card, you should consider other options.
  • The Chase Freedom Unlimited card has a 3% foreign transaction fee. If you frequently travel overseas, you may want to consider a card that waives foreign transaction fees.

Compare the Chase Freedom Unlimited to the Capital One Quicksilver Card

Both cards offer 1.5% unlimited cash back but which one is better for you? In this YouTube video, both these cards are compared to each other. Decide for yourself which card is best for you. How does the Capital One Quicksilver Card compare to the Chase Freedom Unlimited?

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Chase Freedom Unlimited Verdict:

The Chase Freedom Unlimited® credit card is an easy way to earn cash back on your purchases. The flat 1.5% rewards rate is well above the industry standard 1%. There are no bonus categories to keep up with, and your earnings are automatically credited to your account Since Chase will issue a Freedom Unlimited card to those with average credit, it may also be a good choice for those who want to see if a cash back card is right for them.

In addition to the cash back rewards, Chase Freedom Unlimited offers a 15-month 0% introductory APR, which would give you time to pay off a major purchase interest-free. Since there is no annual fee, you’ll never have out-of-pocket costs if you keep your balance paid off. This means that the Chase Freedom Unlimited card will truly be giving you back a portion of what you spend with your card. While Chase Freedom Unlimited may not be the right card for every consumer, it’s easy to see why it’s a popular choice among cash back credit cards.

Monica Kowollik

Director at CreditFast.com
Monica has covered credit card and personal finance news for over 15 years. From an early age, she developed an interest in financial literacy and saving money. Monica hopes to help others to improve their personal finances one article at a time.

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