Chase Freedom Unlimited® Review 2024
Updated January 29, 2024 at 4:08 pm
Our Methodology Understanding the value of cash back is simple, but valuing airline miles or points redeemable for travel requires digging a bit deeper. At Newsweek, we’ve developed a common language to talk about the value of points and miles: our valuations.
Our valuations translate points into dollars and cents in a way that reflects reality. They are based on actual data across a balance of accessible redemption options, not just the aspirational first and business class redemptions that require a PhD in miles and points to book. The upshot is that our valuations help you understand the actual value you can easily get from your miles and points.
The Chase Freedom Unlimited® offers a number of bonus categories and 1.5% cash back on all other purchases, making it an exceptional card for everyday spending.
Expert take: The Chase Freedom Unlimited® offers something for everyone with its lack of an annual fee, an intro APR offer for purchases and balance transfers and its surprisingly generous rewards structure. This card earns you 5% cash back on travel booked through Chase Travel℠, plus 3% back on dining at restaurants, including takeout and eligible delivery service, and drugstore purchases and 1.5% cash back on all other purchases.
Pros
- No annual fee
- Earn generous rewards in several categories
- Minimum of 1.5% cash back
- Flexible redemptions for rewards
- Intro APR offer
Cons
- Available to those with good to excellent credit
- Charges foreign transaction fees
Vault’s Viewpoint on the Chase Freedom Unlimited
The Chase Freedom Unlimited makes sense for almost anyone who wants to earn cash back with no annual fee due to its broad bonus categories and a minimum of 1.5% cash back on all purchases. Getting to earn 5% cash back on travel purchased through Chase Travel and 3% cash back on dining at restaurants and drugstore purchases can help consumers increase their rewards balance fast. This card also comes with 5% cash back on qualifying Lyft products and services purchased through the Lyft mobile app through March 31, 2025.
The lack of an annual fee and the card’s intro APR offer also make the Freedom Unlimited a solid choice for individuals who want to keep costs down, especially at first. New cardholders get a 0% APR on purchases and balance transfers for 15 months from the date of account opening, followed by a variable APR of 20.49% – 29.24% after. Cash back rewards do not expire either, and redemptions for flexible options like cash back and statement credits can be made in any amount. Chase Freedom Unlimited rewards can also be redeemed for merchandise, gift cards or travel with Chase, so there’s a plethora of redemption options to choose from.
Chase Freedom Unlimited Highlights
Annual fee: $0
Welcome bonus: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year). That’s 6.5% cash back on travel purchased through Chase Travel, 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year). This intro offer is worth up to $300 cash back.
Earning Rewards With the Chase Freedom Unlimited
The Chase Freedom Unlimited has a lucrative rewards structure that can make sense for a broad range of consumers with different spending styles. Not only does it earn an elevated cash back rate in popular spending categories people can actually use, but it earns a higher minimum cash back rate on all other purchases.
- 5% cash back on travel purchased through Chase Travel
- 5% cash back total on qualifying Lyft rides (through March 31, 2025)
- 3% cash back on dining at restaurants (including takeout and eligible delivery service) and drugstore purchases
- 1.5% cash back on all other purchases
Redeeming Rewards
This card makes it easy to redeem the cash back you earn with flexible options like a statement credit or direct deposit into most U.S. checking and savings accounts. There’s also gift cards, merchandise and redemption for travel through Chase Travel.
While the Chase Freedom Unlimited doesn’t offer transferable points on its own, Chase lets users pool all their Chase points in one account for better redemptions. Ultimately, many people pair the Chase Freedom Unlimited with a travel credit card like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve® to get better value for travel redemptions through Chase or the ability to transfer points to Chase airline and hotel partners.
Rates and Fees
The Chase Freedom Unlimited doesn’t have a ton of extra fees to worry about, but some fees can catch you off guard if you’re not careful. Here are the main fees and charges you’ll want to avoid or plan for with this card.
- Annual fee: $0
- Intro APR: 0% APR on purchases and balance transfers for 15 months from account opening (20.49% – 29.24% variable APR after)
- Variable APR: 20.49% – 29.24%
- Balance transfer fee: 3% (minimum $5) for balance transfers made within 60 days of account opening; 5% fee (minimum $5) thereafter
- Foreign transaction fees: 3% of the amount of each transaction in U.S. dollars
- Late fee: Up to $40
- Penalty APR: Up to 29.99%
- Cash advance fee: 5% (minimum $10)
- Cash advance APR: 29.99% variable
Chase Freedom Unlimited Benefits
The Chase Freedom Unlimited comes with a surprising number of benefits for a no-annual-fee cash back credit card, including some travel-related perks.
- Purchase protection: This card comes with purchase protection against damage and theft for the first 120 days from new purchase. This coverage is good for up to $500 per claim and up to $50,000 per account.
- Extended warranties: Items purchased with the card that come with an eligible manufacturer’s warranty of three years or less get an extra year of extended warranty protection.
- Trip cancellation and interruption insurance: Pay for a common carrier fare with this card and get trip cancellation and interruption coverage that reimburses up to $1,500 per person and up to $6,000 per trip.
- Secondary auto rental coverage: This card comes with auto rental collision damage waiver coverage that is secondary to your own insurance. Decline the rental company’s collision insurance and charge the entire rental cost to your card with coverage for theft and collision damage provided for most cars in the U.S. and abroad.
- Travel and emergency assistance services: Access a 24/7 hotline for help with legal and medical referrals and other issues when you’re traveling away from home. You have responsibility to the costs.
- DoorDash DashPass: Get three months of complementary DoorDash DashPass membership that comes with $0 delivery fees on eligible orders and reduced service fees when you activate by December 31, 2024.
Who Is the Chase Freedom Unlimited Best For?
The Chase Freedom Unlimited is an excellent all-around cash back credit card for people who want to earn a solid rate of cash back on everything they buy. Being able to earn 5% back on travel booked through Chase Travel and 3% back on dining at restaurants and drugstore purchases makes it easy to earn plenty of cash back in a hurry. Add in the fact this card offers a minimum rewards rate of 1.5% cash back on all other purchases, and you can see where it makes sense for a broad swath of consumers.
The card’s intro APR also makes it a good choice for people who want to avoid interest for more than a year. This could apply to anyone who wants to make a large purchase and pay it down over time or consumers who just want some breathing room to carry a balance without having to worry about exorbitant interest charges for a limited time.
Finally, people who want the most flexibility with their rewards possible should consider the Chase Freedom Unlimited. Cash back rewards can be redeemed for a statement credit or direct deposit into most U.S. checking and savings accounts in any amount, so even small rewards balances can be redeemed with ease.
Who Should Consider an Alternative to the Chase Freedom Unlimited?
There are so many top cash back credit cards on the market today that everyone should consider at least a few cards before they decide. This is especially true among people who might spend more in different bonus categories than the Chase Freedom Unlimited offers, as well as those who might prefer to earn a higher flat rate of cash back on all purchases instead of rewards in bonus categories.
People who want to earn Chase points that transfer to airlines and hotels will also need to consider premium credit cards like the Chase Sapphire Preferred® and Chase Sapphire Reserve®. While the Chase Freedom Unlimited does let users book travel through the Chase Travel directly with their points, it does not allow point transfers to Chase airline and hotel partners on its own.
How Does the Chase Freedom Unlimited Stack Up to Competitors?
Before you sign up for the Chase Freedom Unlimited, consider how a few other similar rewards credit cards could leave you better off.
Chase Freedom Unlimited vs. Wells Fargo Active Cash® Card
The Wells Fargo Active Cash Card is worth considering for people who want to earn one flat rate of rewards on all purchases for no annual fee. This card earns an 2% cash rewards back on purchases, giving you an extra .5% cash back on general purchases compared to the Freedom Unlimited.
Similar to the Freedom Unlimited, new cardholders can enjoy an intro APR on both purchases and qualifying balance transfers. This card also comes with cellphone protection worth up to $600 (subject to a $25 deductible) when you pay your monthly bill with the card.
Chase Freedom Unlimited vs. Capital One SavorOne Rewards Credit Card
Maybe you want access to a different list of bonus categories altogether. In that case, you may want to consider the Capital One SavorOne since it offers an unlimited 3% cash back on dining, entertainment, popular streaming services and purchases at grocery stores.
This card also doesn’t charge an annual fee and features an intro APR offer on purchases and balance transfers.
If you frequently travel internationally, the SavorOne may be a better option as it doesn’t charge foreign transaction fees (unless you have other cards in your wallet that skip these fees).
Chase Freedom Unlimited vs. Chase Freedom Flex®
The Chase Freedom Flex® should also be on your radar, particularly if you like the bonus categories on the Chase Freedom Unlimited or have a Chase travel credit card and want to earn rewards you can pool in one account.
The Chase Freedom Flex earns 5% cash back on up to $1,500 spent in activated categories that rotate each quarter (then 1% back), 5% back on travel through Chase Travel, 5% back on Lyft rides (through March 31, 2025), 3% back on dining and drugstore purchases and 1% back on other purchases. A similar intro APR offer also applies, which can make this card a good one for paying down large purchases interest-free for more than a year.
Is the Chase Freedom Unlimited Worth It?
Since the Chase Freedom Unlimited offers impressive rewards with no annual fee, it’s definitely worth it. It’s just a matter of whether you use this card as your only rewards credit card or decide to pair it with another card for maximum rewards potential.
The fact is, many people pair this card with the Chase Freedom Flex to take advantage of its rotating 5% back categories but still earn a minimum of 1.5% back on all other purchases. Many rewards enthusiasts also pair either of these cards with premium travel credit cards from Chase to get better redemptions for travel, including point transfer options to airlines and hotels.
No matter whether you choose the Chase Freedom Unlimited as your only card or one of a few you use regularly, this card’s ongoing rewards, benefits and lack of an annual fee make it a useful card for your wallet.
Vault’s View Point: Our Thoughts on the Chase Freedom Unlimited’s Value
Cash back earned with the Chase Freedom Unlimited is worth 1 cent per point in value, which is pretty standard among cash back credit cards. You can get a better rewards rate with premium credit cards from Chase and other issuers, although you’ll typically need to pay an annual fee to do so. If you pool your points with the Chase Sapphire Preferred or Sapphire Reserve, though, you can get 25% to 50% more value for your points, respectively, when you redeem for travel through the portal for Chase.
Frequently Asked Questions
Does Chase Freedom Unlimited Charge Foreign Transaction Fees?
Yes, the Chase Freedom Unlimited charges foreign transaction fees. Cardholders are charged a fee of 3% of the amount of each transaction in U.S. dollar when they use this card for purchases outside the United States.
What Credit Score Do You Need for the Chase Freedom Unlimited?
The Chase Freedom Unlimited does not list a minimum credit score for applicants. However, this card is geared toward individuals with good to excellent credit (or a FICO Score between 670 and 850).
Can You Pool Points With the Chase Freedom Unlimited?
If you have several Chase credit cards, the card issuer will let you pool all your points in one account for convenience or better redemptions. Chase also lets household members pool their points together into each other’s accounts.
Editorial Note: Opinions expressed here are author’s 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. We may earn a commission from partner links on Newsweek, but commissions do not affect our editors’ opinions or evaluations.
