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Is The Chase Freedom Unlimited Worth It?
August 30, 2024
Are you in the market for a new cash back card that also offers valuable travel benefits? The Chase Freedom Unlimited® might just be the perfect fit. In this comprehensive review, we'll take a closer look at what makes this Chase card stand out from the crowd.
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What is the Chase Freedom Unlimited?
The Chase Freedom Unlimited is a popular reward credit card that allows you to earn cash back on every purchase, with no annual fee and a generous welcome bonus. But unlike some other cash back credit cards, the Freedom Unlimited also allows you to convert your rewards into Chase Ultimate Rewards, which can be redeemed for travel via Chase Travel℠. You can also redeem rewards for cash back or git cards as well.
How does the Chase Freedom Unlimited earn rewards?
One of the biggest selling points of the Chase Freedom Unlimited is its simple and straightforward rewards structure.
Here's how it breaks down:
- Earn 5% cash back on travel purchased through Chase Travel℠
- Earn 3% cash back on dining, including takeout and eligible delivery services
- Earn 3% cash back on drugstore purchases
- Earn 1.5% cash back on all other purchases
There are no rotating categories to keep track of and no limit to how much you can earn. Plus, new cardholders can earn an additional 1.5% cash back on everything they buy (on up to $20,000 spent) in the first year. That's worth up to $300 cash back!
To maximize your rewards, try to focus your spending in the Chase Freedom Unlimited's bonus categories whenever possible. For example, if you're booking a trip, make sure to book through Chase Travel℠ to earn 5% back. And if you're picking up essentials at the drugstore, use your Freedom Unlimited to get 3% back.
If you really want to supercharge your rewards earning, consider pairing the Unlimited with another Chase card, like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®. These cards also earn Chase Ultimate Rewards, but at an even higher rate! You may have heard of the "Chase Trifecta." This refers to a combination of three Chase cards that, when used together strategically, can help you maximize your rewards on every purchase. The key to making the Chase Trifecta work is to use each card for its specific bonus categories.
What are the benefits of the Chase Freedom Unlimited?
In addition to its impressive earning potential, the Chase Freedom Unlimited comes loaded with valuable perks and benefits that can save you money and make your life easier:
- No annual fee
- 0% intro APR on purchases and balance transfer for the first 15 months (then a variable APR of 19.99% - 28.74%)
- Complimentary 3 months of DashPass, DoorDash's membership that provides unlimited deliveries with $0 delivery fee and reduced service fees on eligible orders on DoorDash and Caviar. After that, you are automatically enrolled in DashPass at 50% off for the next 9 months. Activate by December 31, 2024
- Access to Chase Credit Journey to monitor your credit score
Additional Advantages
The Chase Freedom Unlimited also offers some incredible perks, especially for a card that doesn't carry an annual fee:
- Purchase protection: covers new purchases for 120 days against damage or theft, up to $500 per claim and $50,000 per account
- Extended warranty protection: adds an additional year to eligible U.S. manufacturer's warranties of three years or less
- Trip cancellation/interruption insurance: covers you and your family if your trip is disrupted by sickness, severe weather, and other covered situations
- Auto rental collision damage waiver: provides primary coverage if you decline the rental company's collision insurance and charge the entire rental to your card
Be sure to familiarize yourself with these benefits before making major purchases or traveling. That way, you'll know what's covered and how to file a claim if needed.
What credit score is needed for the Chase Freedom Unlimited?
To have the best chance of approval for the Chase Freedom Unlmited, you'll generally need a good to excellent credit score (670 or higher). However, keep in mind that credit scores are just one factor that Chase considers when evaluating applications. Your income, debt-to-income ratio, and other elements of your credit history will also play a role.
If you're not sure where you stand, it's always a good idea to check your credit score and report before applying.
How does the Chase Freedom Unlimited compare to other rewards cards?
Chase Freedom Unlimited vs. Chase Sapphire Preferred® Card
The Chase Freedom Unlimited and Chase Sapphire Preferred are both excellent rewards credit cards, but they cater to different types of folks. The Freedom Unlimited is ideal for those who want a simple, no-annual-fee card that earns solid cash backon every purchase, while the Sapphire Preferred is better suited for those who enjoy traveling and are willing to pay a $95 annual fee to earn bonus points on travel and dining purchases.
Not sure which card to get? Kudos can help you navigate this process and find the best card offers through CardMatch.
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Chase Freedom Unlimited vs. Citi Double Cash
Though both solid cash back offerings, the Chase Freedom Unlimited offers higher cash back rates in certain categories, while the Citi Double Cash earns a flat 2% cash back on all purchases (1% when you buy, 1% when you pay). Both have no annual fee, but the Chase Freedom Unlimited offers an intro 0% APR on purchases, while the Citi Double Cash only offers it on balance transfers.
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Chase Freedom Unlimited vs. Capital One Savor Cash Rewards Credit Card Cash Rewards Credit Card
The Capital One Savor Cash Rewards Credit Card offers a generous 3% cash back on dining, entertainment, popular streaming services, and grocery stores (excluding superstores like Walmart® and Target®), making it ideal for individuals who spend heavily in these categories (see rates & fees).
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Chase Freedom Unlimited vs. Chase Freedom Flex®
The Chase Freedom Flex® provides 5% cash back on rotating quarterly categories (up to $1,500 in combined purchases) and 5% on travel purchased through Chase Travel℠, offering potentially higher rewards for those who can maximize the bonus categories.
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Ultimately, the best card for you will depend on your specific spending habits and goals. If you spend a lot in the Chase Freedom Unlimited's bonus categories (travel, dining, drugstores), it could be a great fit. But if you prefer a simpler earning structure or more flexible rewards, one of these other options might be a better choice.
How do you apply for the Chase Freedom Unlimited?
If you've decided that the Chase Freedom Unlimited is right for you, applying is a quick and easy process.
Here's what you'll need to do:
- Click "Learn More" and fill out the online application with your personal information, income, and housing costs.
- Review and accept the terms and conditions, then submit your application.
- Wait for a decision, which is often immediate but could take up to 30 days in some cases.
If approved, you'll typically receive your new card within 7-10 business days. From there, you can start using it to earn rewards on every purchase.
Final thoughts on the Chase Freedom Unlimited
The Chase Freedom Unlimited is a standout rewards card that offers a compelling combination of cash back, travel rewards, and valuable perks. Its simple earning structure, generous welcome bonus, and lack of annual fee make it an excellent choice for anyone looking to maximize their everyday spending. Of course, as with any financial product, it's crucial to consider your own unique circumstances before applying. But if you have good credit and want a cash back card that also offers travel benefits, the Freedom Unlimited is definitely worth a closer look.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
