Chase Freedom Unlimited® Review

The Chase Freedom Unlimited is a flat-rate rewards card that offers cash-back incentives on a variety of eligible purchases. Offering long promotional APR periods for new cardholders and unlimited cash-back rewards, the Chase Freedom Unlimited is an excellent solution for individuals looking for a simple, easy-to-use rewards program with no annual fee.

The Essentials of the Chase Freedom Unlimited®

  • APR: Variable 16.49% – 25.24%
  • Annual Fee: $0
  • Primary Feature: 1.5% unlimited cash back on all purchases
  • Introductory Bonus Offer: Earn a one-time $150 bonus after you spend over $500 or over on purchases within the first three months of card activation.

What’s interesting about the Chase Freedom Unlimited®

The Chase Freedom Unlimited is a simple cash-back rewards card that makes it easy for customers to earn bonuses on purchases they make every day. Featuring a 0% APR for the first 15 months of purchases and balance transfers with a variable go to rate of 16.49% – 25.24%, the Chase Freedom Unlimited is a convenient credit card solution with great introductory offers and valuable incentives. The card provides a 120-day purchase and extended warranty protection feature that will extend any eligible manufacturing warranty on purchases by another full year. Reward points earned will never expire, and all rewards are uncapped and easy to redeem.

Things to Consider

Although the Chase Freedom Unlimited does have its benefits, there are also some downsides with this card to consider. First of all, this card is not meant for individuals with no or low credit. On average, it’s been reported that in order to be approved for the Chase Freedom Unlimited, most applicants will need to maintain a FICO score of at least 700. Chase also subjects applicants to its “5/24 rule,” meaning that if you’ve opened more than five credit cards in 24 months, your application will automatically be rejected. While the Chase Freedom Unlimited does offer some great introductory offers, the regular APR is quite high, with a variable rate of 16.49% -25.24%. Another consideration is that 1.5% cash back isn’t the most competitive rewards program out there. Although the Chase Freedom Unlimited does feature unlimited cash back at this rate, there are other cards available with higher-paying rewards programs.

How to Get the Most from this Card

One of the major benefits of the Chase Freedom Unlimited has to do with its introductory offers. New cardholders will have 15 months of 0% APR on all purchases and balance transfers with a go to APR rate of 16.49% -25.24%. This gives customers the ability to earn rewards quickly without having to pay back interest. Since customers will receive 1.5% cash back on all their purchases, the Chase Freedom Unlimited is a great payment solution to use on all everyday purchases. When earning bonus rewards points, their value can be doubled or tripled by redeeming through Chase’s bonus mall. Reward points can also be redeemed as cash back, gift cards, and travel discounts.

Other Card Options that Might Interest You

The Chase Freedom Unlimited is a great payment solution with simple benefits and great introductory offers. However, when it comes to cash-back rewards programs, there are many other cards you can choose from with higher bonus payouts and variable program structures. Two great options to consider are the Capital One® Quicksilver® Cash Rewards Credit Card and the Citi® Double Cash Card.

Capital One Quicksilver Cash Rewards

Similar to the Chase Freedom Unlimited, the Capital One Quicksilver Cash Rewards card also features 1.5% cash back on each purchase you make. The Quicksilver Cash Rewards card also features no annual fee and a sign-up bonus incentive. A unique benefit that the card provides is a variable rewards program depending on the credit limit of the card. For approved credit limits of over $5,000, cardholders will be given slightly better benefits, travel discounts, and concierge services.

Citi Double Cash Card

A great alternative to the Chase Freedom Unlimited is the Citi Double Cash Card. The card also features no annual fee and a variable APR of15.49% -25.49%; however, the cash-back program is a bit more rewarding. Citi rewards its cardholders when they pay back their purchases and offers a 2% cash-back split program. Cardholders will receive 1% cash back when they make a purchase and 1% cash back whey they pay those purchases off. The Double Cash card also features a competitive introductory rate of 0% APR for the first 18 months on balance transfers with a go to rate of 15.49% – 25.49%. Citi Double Cash Cards also allow cash-back rewards to be converted to ThankYou points. These points can be transferred over to airline partners affiliated with Citi with increased values, potentially doubling total cash-back percentages up to 4%.

The Final Word

A major drawback of many credit card rewards programs is that they are too complex to manage and make it difficult for cardholders to earn and redeem the rewards they want. The Chase Freedom Unlimited is different in that it features an easy-to-use program structure that offers 1.5% cash back on all purchases made without having to worry about bonus-category eligibility. With a lower flat cash-back rate, another great benefit of the Chase Freedom Unlimited is that it features no annual fee, helping customers maximize their rewards potential year over year with no expiration date. Another benefit to the card is that the Ultimate Rewards program by Chase allows cardholders to transfer their cash-back rewards to other programs that offer better rewards values. There are, however, considerations to make before choosing to use the Chase Freedom Unlimited. The card doesn’t offer the highest cash-back rewards when compared to other options and does have higher-than-usual regular APR percentages. Overall, however, the Chase Freedom Unlimited is still a great cash-back payment solution that’s worth taking advantage of for its simplicity and its impressive introductory offers.

Josh Nadeau

Personal Finance Contributor

Josh Nadeau is a seasoned sales operations and financial services writer with years of experience working in manufacturing, software, Fintech, and managed services. He uses his first-hand industry knowledge and technical expertise to help businesses and consumers alike make better financial decisions now and in the future.