Chase Freedom Unlimited Credit Card Review

The Chase Freedom Unlimited is a great card for non-travelers and people who want an easy way to earn rewards on all their purchases. Those who are new to rewards credit cards who don’t have the credit to qualify for one of Chase’s higher-tiered credit cards will find the Chase Freedom Unlimited an easy way to start earning. Because of Chase’s 5/24 rule, you should avoid applying for this card if you’ve opened more than five credit cards in the past 24 months.

• No annual fee: The Chase Freedom Unlimited doesn’t charge an annual fee which is a must-have on a simple rewards card.
• High cash-back bonus in the first year: Rather than offer a traditional sign-up bonus, Chase gives you a higher cash-back rate in the first year. New cardholders can a lot of value from this card in the first year.
• Long introductory no-interest period: This card offers a 15-month, 0% APR period on both balance transfers and purchases. This makes it easier to finance a large purchase or move a balance from a card with a higher interest rate. You have the freedom to pay over time without the additional cost.

• Cap on first-year bonus rewards: The higher reward rate is only offered on up to $20,000 in purchases. That’s $600 in cash rewards ($300 more than you’d normally get), but really heavy spenders will see a limit on this benefit.
• Potentially high APR: Your final APR depends on several aspects of your application, including your credit score. Depending on where your credit stands, you could potentially qualify the higher end of the APR range. Even if you qualify for a lower APR, be sure to pay your balance in full after the promotional period ends, so you can avoid expensive finance charges.
• Foreign transaction fee: Using this card abroad wipes out your rewards because of the 3% fee on purchases made in other countries. Pair this card with one with travel rewards, or check out a card with a flat rewards-earning rate and no foreign transaction fee, like the Capital One Quicksilver Rewards or the Bank of America Travel Rewards.

In the first year, you’ll earn 3% cash back on all your purchases, but only on up to $20,000 in purchases. That’s $600 in cash rewards—$300 of that from the bonus rate—if you spend $20,000 on purchases in the first year of having your card. 

The Chase Freedom Unlimited makes it easy to earn cash rewards on all your purchases. After you’ve spent $20,000 in the first year, you’ll earn 1.5% cash back on all your purchases (1.5 points per $1 spent).

You’ll earn rewards whenever you or an authorized user makes purchases on your credit card. The simple, flat-rate reward structure means you don’t have to enroll in higher rewards rate (like you do with cards with rewards categories that change every quarter), plus there’s no need to alter your spending to take advantage of higher earning categories. 

Points don’t expire as long as your account is open and in good standing.

Cash rewards are tracked as points—100 points is equal to $1 when redeemed.

• For Cash Back: You can redeem your rewards for cash back at any time for any amount—there’s no minimum redemption limits or increments. Rewards can be redeemed as a statement credit to your credit card account or as a direct deposit to your checking or savings account. 
• For Travel Purchases: Use Chase Ultimate Rewards to book your travel and apply your rewards to your purchase. Booking through Chase’s online booking tool allows you to access competitive rates and gives you flexible ways to pay for your travel. 
• For Gift Cards: Finally, you can redeem your rewards for a gift cards or certificates that can be used for dining, entertainment, shopping, and more.
• On Amazon: Chase also gives you the option to link your Freedom Unlimited credit card to your Amazon account. Once your account is linked, you can use your cash rewards to instantly pay for all or part of your Amazon orders. Cash rewards can even go towards tax and shipping on your purchases.

Since you earn the most rewards in the first year of having this card, you’ll max out your rewards faster by using the Chase Freedom Unlimited exclusively for the first 12 months. That works out to an average of $1,667 in purchases each month. In the second year and beyond, you’ll earn unlimited 1.5% cash back rewards on all your purchases.

If you have one of Chase’s travel rewards credit cards—the Sapphire Preferred or Reserve—you can combine your rewards and redeem for up to 50% more when you redeem through Chase’s online booking tool, the Ultimate Rewards Travel Center. If you don’t have one of those cards, redeeming your rewards for anything other than Amazon purchases is a worthwhile choice.

The Chase Freedom Unlimited comes with a couple of other great features when you use your card for purchases. 

• Insurance for stolen or damaged purchases
• Extended warranty protection

The Chase mobile app allows you to view your account activity and pay your bill, but Chase didn’t score well in J.D. Power’s 2019 U.S. Credit Card Mobile App Satisfaction Study. It received a score of 870 out of a possible 1,000 points—just below the industry average of 872. 

In terms of credit card satisfaction, Chase fares a bit better. It has an above-average score of 807, which was good enough for the fourth slot in J.D. Power’s 2019 U.S. Credit Card Satisfaction Survey.

This card has industry-standard security features, like fraud alerts and $0 fraud liability.

The Chase Freedom Unlimited doesn’t come with a lot of fees, and the fees it charges are in line with industry standards. Chase does charge a foreign transaction fee on purchases made on currencies other than U.S. dollars. However, there’s no penalty rate if you default on your credit card payments.