Chase Freedom Unlimited® Review: Is It Worth It?

If you’re looking for a card with a lucrative welcome bonus, generous 0% APR account opening period, and no annual fee, the Chase Freedom Unlimited^® card may be right up your alley.

Plus, with complementary Visa Concierge service, a roadside assistance network (albeit one that you pay for), and travel protection, there are tons of side perks that make this card a traveler’s dream.

Bonus if you’re a frequent traveler familiar with the Chase travel purchase network!

No, really – the Chase Freedom Unlimited^® card rewards the highest cashback on travel purchased through Chase.

Let’s see what else this card has to offer.

Chase Freedom Unlimited^® Pros and Cons

Pros:

• No annual fee
• 0% introductory APR for 15 months
• Competitive welcome bonus with low bar to earn
• Unlimited cashback potential and no minimum to redeem
• Complimentary Visa Signature concierge service

Cons:

• Highest rewards limited to travel spending purchased through Chase
• 3% foreign transaction fee
• Requires Good to Excellent credit to qualify
• High cash advance fees
• Subject to the Chase 5/24 rule (automatic rejection if you’ve applied for more than 5 cards in the past 24 months)

What is the Chase Freedom Unlimited^® Card?

The Chase Freedom Unlimited^® card is a cashback offering from Chase designed to reward you primarily for travel purchased through Chase.

Though you can earn higher-than-average cashback on restaurant and drugstore purchases, too.

As part of the Chase pocketbook, you can transfer points among other cards in the Chase Ultimate Rewards^® network.

As such, adding this card to your wallet can provide another layer of flexibility in how and where you redeem your rewards.

That said, combining so many options with varying rewards rates makes the Chase Freedom Unlimited^® card one of the more complex offerings on the market.

If you’re great at organization (or at least writing down when to use which card), you’re in luck!

But at 1.5% cashback on all purchases and 3% at drugstores and restaurants, this card is likely to be top of the rewards pile in your wallet, anyway.

How Does the Chase Freedom Unlimited^® Card Work?

To get started with Chase, all you have to do is apply via the Chase web portal. Once you’re approved, your card will be shipped to you in the mail.

Once it’s in your hands, you can activate and use it immediately.

Tap to pay, insert the chip, or go for the good, ole magnetic swipe – however a Visa-accepting merchant takes your payment, this card can do it all. Including, of course, online transactions.

But before you start spending, be sure to understand how (and how much) you can earn cashback rewards with this card, as some purchases offer bonus points.

Chase Freedom Unlimited^® Review

• Annual Fee: $0
• Regular APR: 0% for the first 15 months, then 14.99% to 23.74% variable APR
• Rewards: 5% on travel purchased through Chase, 3% on drugstore and restaurant spending, and 1.5% on all other purchases
• Foreign Transaction Fee: 3%
• Signup Bonus: $200 after you spend $500 on purchases in the first 3 months

Chase Freedom Unlimited^® Rewards

While the Chase Freedom Unlimited^® card is technically listed as a cashback card, you earn rewards in the form of points.

As such, understanding how you earn – and redeem – your “cashback” is crucial to making full use of the card.

Earning Rewards

On its own, earning rewards with the Chase Freedom Unlimited^® card is easy.

• 5% cashback on travel purchased through Chase Ultimate Rewards^®
• 5% back on qualifying Lyft services purchased through Lyft’s app through 31 March 2022
• 3% cashback on drugstore and restaurant purchases (including delivery and takeout)
• 1.5% cashback on all other purchases

Redeeming Rewards

When it comes to redeeming your Chase rewards, the process is a little more complex.

For instance, you can transfer eligible Chase Ultimate Rewards^® points between your Chase cards.

This provides flexibility in how you spend your cashback – and can even increase your rewards, depending on the composition of your credit wallet – but also imbues an extra layer of difficulty.

Assuming that you keep your rewards on your Chase Freedom Unlimited^® card, once you’re ready to redeem, your points are automatically calculated at 1.5% to 5% cashback, depending on the category of your purchase. You can redeem points for:

• Statement credit or direct deposit at 1 cent per point
• Travel booked through Chase at 1 cent per point
• Gift cards at 1 cent per point
• Amazon purchases for 0.8 cents per point
• Charitable contributions at 1.25 cents per point

Chase Freedom Unlimited^® Features and Benefits

Generous Signup Bonus

Chase Freedom Unlimited^® comes with a hefty signup bonus compared to the low spending hurdle: $200 back for spending $500 in the first three months.

While it’s not the largest bonus in the business – especially for cashback or points-and-miles cards – the low bar means that even light spenders will hit the mark quickly.

0% Introductory APR

Aside from a generous signup bonus, new Chase Freedom Unlimited^® users can enjoy 0% APR on purchases made in the first 15 months.

After that, the card switches to its variable rate.

Easily Transfer Points Between Chase Cards and Other Loyalty Programs

One of the most compelling reasons to get the Chase Freedom Unlimited^® card is to round out a portfolio of Chase cards.

If you have multiple cards on the Chase network, you can transfer your Chase Ultimate Rewards^® points between the new Chase trifecta to maximize your dollars.

Technically, the Chase Freedom Unlimited^® is marketed as a cashback card. That said, you actually earn rewards in the form of Ultimate points, which you can then transfer between other cards such as the Ink Business Preferred^® Credit Card or the Chase Sapphire Preferred^® Card.

Both of these options let you redeem points for 1.25 cents on travel purchase through Chase.

Plus, with Chase Sapphire Reserve^®, your points jump to 1.5 cents per when redeemed on travel through Chase.

Plus, each of these three cards allow you to transfer points 1:1 to multiple hotel and airline loyalty programs, such as Marriott, Hyatt, Southwest Airlines, and United Airlines.

Extended Warranty

With Chase Freedom Unlimited^®, any purchase you make with the card comes with extended warranty protection to add an additional year to any eligible manufacturer’s 3-year (or less) warranties.

Hello, new television!

Purchase Protection

In addition to extended warranties, all transactions come with 120-day purchase protection to cover stolen or damaged items.

You can receive up to $500 per claim and up to $50,000 per account.

Rental Car Insurance

As part of the Visa network, your Chase card comes with rental car insurance in the case of damage due to collision or theft.

All you have to do is decline the rental company’s in-house coverage and use your card to cover the entire rental cost.

Trip Cancellation/Interruption Insurance

If you use your card to book a cruise, plane ticket, or other travel cost, you can be reimbursed up to $1,500 per person (maximum $6,000 per trip) for prepaid, nonrefundable fares in the case that your trip is cancelled or cut short by sickness, severe weather, or other covered situations.

Lucrative Bonus Categories

This Chase card comes with three tiers of cashback rewards, rather than the standard 1-2% on all purchases offered by some cashback cards.

You can earn 5% on travel purchased through Chase and qualifying Lyft services (for a short time), 3% on drugstore and restaurant purchases, and 1.5% on everything else.

How Does Chase Freedom Unlimited^® Compare?

#1. Chase Freedom Unlimited^® vs. Chase Freedom Flex^TM

The Chase Freedom Flex^TM card is another Chase offering that comes with a $0 annual fee and lucrative cashback rewards.

The primary difference is where you earn rewards. With Chase Freedom Flex^TM, you earn 5% cashback on rotating categories (that you activate) every 3 months and 1% on everything else.

Additionally, the Unlimited^® card runs on the Visa network, while Flex^TM runs on the Mastercard network.

While this makes little difference in terms of acceptance, each payment processor confers their own benefits.

#2. Chase Freedom Unlimited^® vs. Citi^® Double Cash Card

The Citi^® Double Cash Card offers a slightly more limited rewards alternative, but with more flexibility than some other competitors.

You can earn unlimited 2% cashback – 1% when you make a purchase, and 1% when you pay your bill.

Potentially giving you the chance to earn a little cashback as consolation if you carry your balance and get slapped with interest.

The downside is that there are no bonus categories for extra earnings.

However, the Citi^® Double Cash Card does offer the ability to move your rewards to another premium Citi card to increase your points value.

Plus, Citi offers an 18-month balance transfer offer on this card.

#3. Discover it^® Cash Back vs. Chase Freedom Unlimited^®

Like the Chase Freedom Unlimited^® card, Discover it^® is a tiered cashback card. With this option, you can earn 5% cashback in rotating quarterly categories on up to $1,500 in purchases, as well as 1% cashback on all other purchases.

Discover it^® Cash Back also comes with 0% introductory APR for 14 months on both purchases and balance transfers, a $0 annual fee, and cashback match on every dollar earned in your first year.

#4. Chase Freedom Unlimited^® vs. Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card is a more limited cashback alternative to Chase Freedom Unlimited^®.

To start, the card comes with a $0 annual fee, no foreign transaction fees, and unlimited rewards.

You earn 1.5% cashback on all purchases, but there are no bonus categories and rewards are available as cashback only.

Moreover, your rewards cannot be transferred or combined with other rewards.

Frequently Asked Questions

Is the Chase Freedom Unlimited^® Card Worth It?

Chase Freedom Unlimited^® comes at 1.5% cashback on all purchases, plus bonus cashback on travel, restaurant, and drugstore purchases.

And, for a limited time, you can earn cashback on rides booked through the Lyft app, too.

Plus, you can move your points around in the Chase network to maximize your dollars and spend them where you want.

In other words: the Chase card is worth it if you’re a frequent traveler, high spender at your favorite restaurants, or just want the flexibility to redeem your points where you want.

Is the Chase Freedom Unlimited^® Card a Good Credit Card?

Chase Freedom Unlimited^® earns unlimited cashback at both standard and above-standard rates compared to many competitors.

Plus, you have variable options on how and where to redeem – and your points never expire, so you can save them for that much-needed Caribbean vacation in three years.

Does the Chase Freedom Unlimited^® Card earn Ultimate^® Rewards?

Yes! Chase Freedom Unlimited^® earns Ultimate^® rewards on every purchase at varying cashback rates. (Depending on where you spend your money.)

Does the Chase Freedom Unlimited^® Card Have Travel Insurance?

Yes! Chase Freedom Unlimited^® will reimburse you up to $6,000 per trip in the case of cancellation or interruption due to sickness, severe weather, or other covered situations.

Does the Chase Freedom Unlimited^® Card Have Foreign Transaction Fees?

Unfortunately, yes. This card charges a 3% fee on foreign transactions.

Bottom Line: Chase Freedom Unlimited^® Review

The Chase Freedom Unlimited^® card is a fantastic card for travelers, high spenders, and those already enmeshed in the Chase credit card network.

With a sky-high signup bonus, generous 0% APR intro offer, and tiered cashback and redemption values, it offers great rewards on a slightly more complex framework than its competitors.

Still, if you’re seeking versatility and flexibility in how you earn and redeem, this is an ideal credit card to add to your wallet.