Advice & Expertise Blog

Review: Is The Chase Freedom Unlimited® Card Right for You?

Review: Is The Chase Freedom Unlimited® Card Right for You?

October 26, 2018

Editorial Disclaimer: Information in these articles is brought to you by CreditSoup. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.

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.

Rewards

The Chase Freedom Unlimited® card has some valuable rewards:

  • Signup bonus: While many cards require you to spend thousands before you can qualify for the signup bonus, the Chase Freedom Unlimited® card has a much lower minimum spend. Spend just $500 on purchases in the first three months of opening the card and get $150 cash back.

  • 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.

Benefits

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.

  • 0%-interest balance transfers: Get 0% APR on balance transfers for up to 15 months. Doing a balance transfer could help you save money and pay off your debt ahead of schedule.

  • Free credit score: Get your credit score for free with Chase 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 APR between 16.99% and 25.74%.
  • Transactions fees:
    • Balance transfer: You’ll pay $5 or 5% of the amount of the transfer, whichever is greater
    • Cash advance: You’ll pay $10 or 5% of the amount of each transaction, whichever is greater
  • Penalties:
    • Late payment: Up to $38
    • Return payment: Up to $38

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.

Chase Freedom Unlimited®

Credit Recommended:
Good/Excellent
Credit Recommended:
Good/Excellent
Intro (Purchases)
0% Intro APR on Purchases 15 months
Intro (Transfers)
0% Intro APR on Balance Transfers 15 months
Annual Fee
$0
Learn More on Chase secure website.
Regular APR
16.99% - 25.74% Variable
Credit Recommended
Good/Excellent
Intro Rewards Bonus
$150 Bonus

Highlights

  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.99-25.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • Unlimited 1.5% cash back on every purchase - it's automatic
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • 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
See additional details for Chase Freedom Unlimited®


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.




Advertiser Disclosure

CreditSoup is an independent, advertising-supported comparison service. The card offers that appear on this site are from companies from which CreditSoup receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditSoup does not include all card companies or all card offers available in the marketplace. CreditSoup may use other proprietary factors to impact card offer listings on the website such as consumer selection or the likelihood of the applicant’s credit approval.

Editor’s Rating

Our editors review each credit card and provide our ratings based on the features the credit card offers consumers including the fees, interest rates, benefits, rewards, and how it compares to other credit cards in its category. Card ratings may vary by category as the same card may receive a different rating based on that category.

CreditSoup.com may be compensated by companies mentioned on our site when a consumer’s application is accepted or approved by the company.