Review: Is The Chase Freedom Unlimited® Card Right for You?
October 26, 2018
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If you’re looking for a valuable rewards credit card you can use to earn cash back, the Chase Freedom Unlimited® card might be for you. Boasting a high cash back rate and a nice signup bonus, you can start building valuable rewards quickly.
However, there are some downsides to keep in mind, especially if you like to travel internationally. Below, learn about the pros and cons of the Chase Freedom Unlimited® card and whether or not it’s a smart option for you.
The Chase Freedom Unlimited® Card
Noted for its cash back rewards, the Chase Freedom Unlimited® card has a number of valuable rewards and benefits for cardholders.
The Chase Freedom Unlimited® card has some valuable rewards:
Extra cash back: While many cards offer you a flat cash back reward percentage, you can also earn 3% cash back on all purchases in your first year up to $20,000 spent with the Chase Freedom Unlimited® card.
Unlimited cash back: You can earn 1.5% on all of your purchases, with no limitations. Use it for your routine spending, like on gas, groceries, and regular purchases, and the cash back rewards will add up quickly.
No redemption minimum: Many credit cards do not allow you to redeem your cash back bonuses until you hit a set minimum. The Chase Freedom Unlimited® card works differently. There is no minimum, so you can redeem your rewards whenever you want.
Redemption options: You can redeem your rewards for cash, gift cards, travel, or merchandise through Chase’s partners.
Beyond the valuable cash back rewards the Chase Freedom Unlimited® card offers, you’ll receive other benefits, too.
Low introductory APR: Get 0% APR on new purchases for 15 months after your account opening. After that 15-month period ends, a variable APR of 17.24%-25.99% applies.
0%-interest balance transfers: Get 0% APR on balance transfers for up to 15 months. After that 15-month period ends, a variable APR of 17.24%-25.99% applies. Doing a balance transfer could help you save money and pay off your debt ahead of schedule.
Free credit score: Get your free credit score, updated weekly with Credit Journey℠.
Zero liability protection: You won’t be held responsible for unauthorized charges made on your card.
Purchase protection: New purchases are covered for up to 120 days from theft or damage up to $500 per claim and $50,000 per account.
Extended warranty: Chase will extend the manufacturer’s warranty by one year on eligible purchases.
Terms & Fees
Unlike many rewards credit cards, the Chase Freedom Unlimited® card has no annual fee, so you don’t have to worry about hitting certain numbers to offset the cost of having the card.
However, the Chase Freedom Unlimited® card does have a 3% foreign transaction fee, which could add to your costs if you travel internationally.
Other fees to keep in mind include:
- Purchase APR: Depending on your creditworthiness, you might qualify for an variable APR between 17.24% and 25.99%.
- Transactions fees:
- Balance transfer: You’ll pay $5 or 3% of the amount of each transfer, whichever is greater
- Cash advance: You’ll pay $10 or 5% of the amount of each transaction, whichever is greater
- Late payment: Up to $39
- Return payment: Up to $39
How to apply for the Chase Freedom Unlimited® Card
To qualify for the Chase Freedom Unlimited® card, you’ll need to have good to excellent credit. If you’re not quite there yet, focus on improving your credit score and reapply once your score has increased.
You can apply for the card online; the process takes just a few minutes. You’ll need to provide personal information like your name, address, phone number, Social Security number, income, and the source of that income.
Most people will get a decision right away. However, if the company needs to verify any of your information, the process can take a few days to a few weeks.
- Credit Recommended (660-850):
- Intro (Purchases)
- 0% Intro APR on Purchases 15 months
- Intro (Transfers)
- 0% Intro APR on Balance Transfers 15 months
- Annual Fee
- Regular APR
- 17.24% - 25.99% Variable
- Rewards Rate
- 3% cash back offer
- Credit Recommended
- New Offer! Double Cash Back: Earn 3% cash back on all purchases in your first year up to $20,000 spent. After that earn unlimited 1.5% cash back on all purchases.
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 17.24-25.99%. Balance transfer fee is 3% of the amount transferred, $5 minimum
- 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℠
- No annual fee
The Bottom Line
If you have good to excellent credit and are looking for a rewards credit card that offers significant cash back, the Chase Freedom Unlimited® card is a good choice. However, the card is not for everyone. Those with poor to fair credit will not qualify for it, and international travelers will likely want a card that does not charge foreign transaction fees.
Looking for more rewards credit cards? Check out the best credit cards of 2018.