Chase Freedom Unlimited Card Review
If you want an amazing cash back credit card that also comes with one of the best rewards programs in the game, you need to know about the Chase Freedom Unlimited credit card. Not only do you get 1.5% cash back on all purchases with a nice $150 signup bonus, when you carry this card plus one of Chase's travel rewards credit cards, the benefits are next-level amazing.
- 0% APR on Balance Transfers and Purchases for 15 Months
- No Annual Fee
- 1.5% Cash Back on Everything
- Cash Back Always on Everything
- No Annual Fee
- 0% APR on Balance Transfers and Purchases
- Lower Cash Back Rate
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Rates & Fees
- Annual Fee$0
- Intro Purchase APR0% for 15 months
- Intro Balance Transfer APR0% for 15 months
- Regular APR16.99% to 25.74%
- Great ForShoppingDiningTravel
- Regular Purchase APR16.99% to 25.74%
- Regular Balance Transfer APR16.99% to 25.74%
- Cash Advance APR26.99%
- Balance Transfer Fee$5 or 3%
- Cash Advance Fee$10 or 5%
- Foreign Transaction Fee3%
This signup bonus on this card is $150 after you spend $500 on purchases in the first 3 months of having the card. If you put your everyday expenses such as gas and food on the card, most people would easily achieve the signup bonus. This breaks down to spending $167 on the card each month for the first 3 months of having it. This bonus is awesome because Chase makes it almost impossible not to get.
In addition to the generous $150 signup bonus, you can get $25 for adding an authorized user to your account. If you are married, add your significant other to the account. This will increase the signup bonus from $150 to $175.
Earning cash back and travel rewards points with this card is extremely simple. You get 1.5% cash back on every purchase that you make. This is not a rotating categories credit card where you earn more cash back for buying items that fall within specific categories. Regardless of whether you purchase a flight, groceries or gas, you always get 1.5% cash back.
If you spend $1,500 on your credit card every month, you will spend $18,000 per year. That means just by putting your ordinary expenses on the credit card, you will be getting $270 back each year. That plus the signup bonus of $150 means that you will have an extra $420 in your pocket each year.
Imagine if you spend $2,500 each month by putting your rent and car payment on your credit card. You would be spending a total of $30,000 per year on the card. This means that you would be earning $450 a year in cash back. Now add the signup bonus of $150 and you will have an extra $600 in your pocket. This pays for a free round-trip ticket to anywhere in the United States or your first 2 nights at the Hyatt in Miami.
Chase Freedom vs. Chase Freedom Unlimited
The key to understanding the Chase Freedom Unlimited card and how to maximize your rewards using it requires us to look at the original Chase Freedom credit card. Unlike the Unlimited version of the card where you earn 1.5% cash back on all purchases in any category, the original Freedom card gives you up to 5% bonuses on certain categories that Chase designates before the year starts.
Imagine that Chase Freedom is giving you a 5% cash back for up to $1,500 spent at grocery stores and wholesale clubs and 1% cash back for all other categories. Whenever you buy gas, for example, you would want to use the Chase Freedom Unlimited card because you will get 1.5% cash back as opposed to 1% cash back. But when you are at the grocery store, you would want to use your Chase Freedom card so that you would maximize rewards with a 5% category bonus.
Seek Tip: It can be a huge advantage to get both the Chase Freedom and the Chase Freedom Unlimited at the same time. When you do this and plan your spending properly so that you use the original Freedom on the bonus categories and the Freedom Unlimited on everything else, you earn at least 1.5% cash back on every purchase and up to 5% cash back for other purchases. The bonuses can get pretty wild!
Insane Bonuses when you have the Chase Freedom Unlimited + the Chase Sapphire Preferred
When you use the Chase Freedom Unlimited card with the Chase Sapphire Preferred card, the rewards are literally insane. You don't just earn 1.5% cash back every time you swipe your Chase Freedom Unlimited but that cash back can also grow your point balance at the rate of 1.5 points per dollar spent.
Suppose you spend $2,000 a month on your Chase Freedom Unlimited. This would earn you 36,000 points. Since you already have a Chase Sapphire Card, those points are added to your Ultimate Rewards point balance. Then you can use the Chase Ultimate Rewards 1:1 points transfer to transfer the points to the World of Hyatt program. Free nights at Hyatt Place and Hyatt House rooms are 8,000 points per night, with this one transfer you have earned 4 free nights.
0% APR for 15 Months on Standard Purchases
This card is one of the best low interest credit cards, coming with a very nice 15-month period where you have to pay 0% APR. This is amazing! Imagine if you need a new computer. The computer costs $1000 to buy.
If you put it on your Chase Freedom Unlimited credit card, you could pay the $1000 back over 15 months. That breaks down to a payment of about $66 per month.
Amazingly, if you bought the computer on your credit card within the first 3 months of opening the account, you would also get the $150 bonus for spending more than $500. That means you could subtract $150 from the $1000 cost of the computer making the total payback amount $850. $850 paid back over 15 months comes out to payments of about $56 per month.
So, get the Chase Freedom Unlimited, put the $1000 cost of your new upgraded Macbook Air on the card, and you would only have to pay $56 a month for 15 months. There is absolutely no interest to worry about as long as you make the minimum payment of $56 a month for 15 months.
0% APR on Balance Transfers for 15 Months
Another huge benefit to getting this card is that it offers 0% APR on balance transfers for 15 months. This means that if you owe, say, $3,000 on a credit card where you are paying a 24% APR, you can transfer the balance to the Chase Freedom Unlimited card and pay 0% APR for 15 months.
Sticking with this example above, with a 24% interest rate on your $3,000 balance, you would need to make payments of $233.48 for 15 months in order to pay off the card. When you transfer that same $3,000 balance to your Chase Freedom Unlimited account, you would only have to pay $200 a month to pay off the card plus a one-time 3% balance transfer fee of $90. The extra $33 you are saving every month can pay for you to have a chai latte from Starbucks every morning. Or it can get you 4 free Uber rides each month.
No Annual Fee
There must be a catch for a credit card where you earn 1.5% cash back on all purchases and get a nice $150 signup bonus, right? Not with the Chase Freedom Unlimited credit card. There are no annuals fees. To get all of these benefits without having to pay an annual fee is unheard of.