Chase Freedom Unlimited Review
The Chase Freedom Unlimited credit card is a good choice for deal-seeking shoppers who want a no annual fee card. This card offers simple cash back rewards for grocery shopping, dining out, drug purchases or travel.
The Chase Freedom Unlimited card is ideal for those with good credit who want a cash-back card that rewards all purchases. It gives a competitive cash back rate on purchases that fit into select bonus categories, such as restaurant bills, grocery shopping and travel purchases. MoneyGeek's Chase Freedom Unlimited review looks at the card's features, benefits and other attributes to help you decide if it's right for your wallet.
Card Details to Know Up Front
- Bonus, Fee or FeatureHas or Not
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Cash Back Rewards
- Travel Rewards
Chase Freedom Unlimited at a Glance
Without charging you an annual fee, the Chase Freedom Unlimited credit card lets you earn cash back on every purchase. You get back 5% of airline tickets purchased through Chase, 5% of grocery store purchases up to $12,000 in the first year, 3% of restaurant and drugstore bills and 1.5% of all other purchases. The highly rewarding card also lets you remain interest-free for the first 15 months on your purchases and balance transfers. However, be prepared to pay a 3% fee on all your foreign transactions.
- Chase Freedom Unlimited
An excellent no annual fee card that lets you earn unlimited cash back
- ExcellentCredit Needed
- $0Annual Fee
- 1.5–5% Cash BackRewards Rate
- 3xRewards Rate on Dining
- 5xRewards Rate on Air Travel
Pros & Cons Explained
The Chase Freedom Unlimited credit card has many perks that make it worth considering. However, it comes with some downsides that may discourage you from considering this card.
- No Annual FeeThis may be the most attractive feature for many new customers. The card's rewards and incentives are highly rewarding for a card with no annual fee.
- 0% Introductory APRThere is no APR during the first 15 months of purchases and balance transfers using this card. That means that you are not required to pay interest in the first year of use, even if you have revolving credit. The 0% APR is valid only if you pay the minimum outstanding amount by the billing due date.
- Good Rewards Rate Across Multiple CategoriesThe card boasts great rewards in the form of cash back. You get 5% cash back when you buy travel tickets through the Chase Ultimate Rewards portal, 3% cash back on restaurant purchases (dine out, take out or order in), 3% on drugstore purchases and 1.5% cash back on all other expenses. Compared to cards with similar features, the minimum 1.5% cash back is exceptional. The cash back doesn’t expire as long as your account stays active.
- Impressive Intro BonusYou do not have to be a high roller to get a $200 bonus on this card. All you need to do is spend $500 in the first three months, which is easily achievable. This is an exceptional promotional bonus for a cash-back card with no annual fee.
- Foreign Transaction FeeA default fee of 3% on overseas transactions can make purchases while traveling abroad extremely costly.
- High APR for Applicable TransactionsWhile there’s no APR for the first 15 months of using the card (as long as you pay the minimum amount due), the rate is considerably high starting on the 16th month. Your creditworthiness decides a rate between 14.99% and 23.74% for purchases and balance transfers. Cash transfers have a high flat rate of 24.99%. Regardless, Chase charges you a very high penalty APR of 29.99% if you fail to make a minimum payment within 60 days of the due date.
- Cash Advance and Balance Transfer FeeFrom the 16th month onwards, balance transfers will be charged $5 or 5%, whichever is greater. If you take cash advances or withdraw cash from your credit account, you can expect a fee of $10 or 5% of the transaction amount, whichever is higher.
MoneyGeek named the Chase Freedom Unlimited credit card one of the top credit cards of 2022 for those with excellent credit. If you have a credit score above 670, you may compare this card to the others on the list to see which one is ideal for you.
Bonuses & Rewards Explained
In addition to the above-mentioned bonuses and rewards, Chase's Freedom Unlimited credit card offers other great features.
Promotional Bonus for New Cardholders
If you spend $500 within the first three months of having the card, you’ll receive $200 cashback.
You can earn $100 in cash back for each friend or family member who obtains a participating Chase Freedom card. This referral bonus is limited to a total of $500 each year.
Guaranteed Reward Rate of 1.5%
With the Chase Freedom Unlimited Credit Card, you are guaranteed at least 1.5 percent cash back on all purchases. Better yet, you can get even bigger rewards for purchases made through the Ultimate Rewards travel portal, drugstore purchases and restaurant meals. Cash back incentives are tracked as points, with one point equaling one dollar.
Easy Rewards Redemptions
Cash back rewards can be redeemed for gift cards, travel purchases or Amazon purchases. Rewards can also be redeemed in the form of a statement credit or a direct deposit to your bank or savings account. Otherwise, you can use points to pay for services and products at participating stores.
Other Features Explained
You may also want to know more about the following features of the Chase Freedom Unlimited credit card. Here are some other perks that are worth noting.
- Card FeatureDescription
- 24/7 Access to Account DetailsThe company provides 24/7 access to credit card data, quarterly reports of your Freedom Unlimited card, statements for up to 24 months and more.
- Account AlertsYou may sign up to get timely alerts in the form of SMS, email or push notifications on payment due dates or questionable transactions.
- Auto Rental InsuranceWhen you charge the cost of an car rental to your credit card, you’re able to refuse the car rental company's insurance. Theft and collision damages on the car's real worth are covered.
"If you’re looking to maximize the Chase Freedom Unlimited Card’s benefits for travel rewards, you’ll want to pair this card with a Chase Sapphire product. You can transfer the cash back money you’ve earned into Ultimate Rewards points to take advantage of some excellent redemptions." - Alene Laney, Credit Card Journalist
Understanding the Fine Print
Besides knowing your credit card user rights, you can also determine whether this card is good for you if you know the cash back rates, fees and interest rates of Chase Freedom Unlimited Credit Card.
The following table presents the Chase Freedom Unlimited Credit Card's fees, interest rates, rewards rates and other statistics.
- Card FeatureAmount or Rate
- Annual Fee$0
- Cash Back Rewards
- Rewards Rate1.5–5% Cash Back
- Airline Benefits
For more information regarding general credit card terms, you can use MoneyGeek's credit card glossary.
This card is not subject to an annual fee.
The Chase Freedom Unlimited Credit Card has a high purchase and balance APR that varies depending on your creditworthiness, ranging from 14.99% to 23.74%. Cash advances have a higher interest rate of 24.99 percent. These APRs change depending on the market’s prime rate.
For the first 15 months, the APR is waived for new cardholders who pay the minimum amount due on time. If you don't make minimum payments, your credit may be subjected to a default APR of up to 29.99%.
Each purchase you make with this card earns you a minimum of 1.5% cash back and a maximum of 5%.
Balance Transfer and Cash Advance Fee
Those who make balance transfers after the 16th month will be charged an additional transaction fee of $5 or 3% of the value of each transfer, whichever is higher, for the first 60 days, and $5 or 5% thereafter. You should expect a fee of $10 or 5% of the transaction amount, whichever is bigger, if you take cash advances or withdraw cash from your credit account.
Foreign Transaction Fee
A 3% surcharge will be applied to all foreign transactions made with the card.
To find a card that suits your use, evaluate multiple cards and analyze each card's annual fee, APR, bonuses and rewards. If you're comparing Chase Freedom Unlimited to one of your cards, check your latest credit card monthly bills or your credit card company's website or mobile app for more details. Additionally, you can look up these details in the credit card agreement database of the Consumer Financial Protection Bureau (CFPB).
Who Should & Shouldn’t Consider Chase Freedom Unlimited?
Other Considerations for Chase Freedom Unlimited
When applying for a credit card, it is necessary to understand its benefits, terms and conditions and downsides. Keep the following factors in mind before applying for a Chase Freedom Unlimited Credit Card. Examine how it works for you if it's the only card you have or if it's one of the add-on cards you're thinking about getting.
Things to Consider if This Will Be Your First or Only Credit Card
With no annual fee for this card, you may love having it as your first or only credit card. As long as you pay the minimum amount due on time, your purchases and balance transfers remain interest free for 15 months. Those keeping revolving credits beyond the introductory period should try to pay off the credit before the billing cycle's due date.
Take care to spend in categories where the card will be really beneficial. To earn the $200 sign-up bonus, you must spend at least $500 within three months of opening this card, which is an unbeatable deal for a card with no annual fee. Additionally, spending a minimum of $12,000 on groceries in the first year (except at Walmart and Target) can earn you an easy $600 cash back.
Things to Consider if This Will Be an Additional Card in Your Wallet
Because of its outstanding cash back rewards and lack of an annual fee, Chase Freedom Unlimited card can be great as an additional card in your wallet. The card is worth combining with other Chase Ultimate Rewards credit cards, especially a cash back card like Chase Ink Business Cash that offers excellent cash back for small business owners. Or you may pair it with a card that multiplies your travel rewards, such as the Chase Sapphire Preferred Credit Card, or a card with no charges for foreign transactions.
MoneyGeek uses a comprehensive ranking system to perform in-depth research on credit cards and companies. Gathering data from the Consumer Financial Protection Bureau's database, standardizing data points for card comparison, estimating average expenditure profiles, factoring annual and introductory incentives of each card and determining the three-year worth of keeping the card are all part of the process. The process also includes monthly re-ranking of the cards and semi-annual revisions to the card list.
How Chase Freedom Unlimited Compares to Other Cards
Because of its high cash back rewards in multiple categories and lack of an annual fee, the Chase Freedom Unlimited credit card performed well in comparison to most other cash back cards. Before you compare the card to its competitors, make sure to evaluate what you are looking for in a card.
In-Depth Credit Card Comparisons:
- Chase Freedom Unlimited vs Chase Freedom Flex
- Chase Freedom Unlimited vs Chase Sapphire Preferred
- Chase Freedom Unlimited vs Wells Fargo Active Cash
Quick Comparison of Chase Freedom Unlimited
Chase Freedom Unlimited
- Annual Fee: None
- Regular APR: 14.99% - 23.74%
- Rewards Rate: 1.5%-5%
- Foreign Transaction Fee: 3%
- Best For: Minimalist deal-seeking shoppers looking for a no annual fee card
American Express Cash Magnet Card
- Annual Fee: None
- Regular APR: 13.99%-23.99%
- Rewards Rate: 1.5%
- Foreign Transaction Fee: 2.7%
- Best For: Those looking for simple cash back rewards without annual fee.
Other Helpful Decision-Making Q&As
If you still have questions about the Chase Freedom Unlimited credit card after reading this review, take a look at the questions we answered below.
Still not sure about this card? Consider these options.
If you're still undecided about getting the Chase Freedom Unlimited credit card, consider some of the other cards that offer substantial benefits. If you don't want a cash back card, a balance transfer or rewards card with no annual fee and limitless rewards on purchase categories other than those covered by the Chase Freedom Unlimited may reap you the best benefits.
Mastercard Titanium Card
Disney Premier Visa Card
U.S. Bank Altitude Connect Visa Signature Card
Credit One Bank Platinum Rewards Visa
Alliant Credit Union Cashback Visa Signature Credit Card
Alliant Credit Union Visa Platinum Card
Upgrade Bitcoin Rewards Visa
Credit One Bank Platinum Visa
Disney Visa Card
Mastercard Black Card
Wells Fargo Business Secured Credit Card
Credit One Bank Platinum Visa for Rebuilding Credit
Capital One Platinum Secured Card
Capital One QuicksilverOne Rewards
Learn more about credit cards in general
- Chase. "Chase Freedom Unlimited Credit Card." Accessed August 27, 2021.
- Chase. "Mobile Banking." Accessed August 28, 2021.
- Chase. "Pricing and Terms." Accessed August 27, 2021.
- J.D. Power. "While Many U.S. Credit Card Issuers Struggle to Meet Evolving Customer Expectations, Some Bright Spots Exist, J.D. Power Finds." Accessed August 28, 2021.
- UpgradedPoints. "How to Check Your Chase Credit Card Application Status." Accessed August 26, 2021.
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