Chase Freedom UnlimitedSM Credit Card Review

Oct 19, 2016 | Be First to Comment!

chase freedom Unlimited credit card

The newly released Chase Freedom UnlimitedSM is a flat-rate cash back credit card. Customers can earn 1.5% cash back on all purchases. There are no spending limits or rotating categories.

There are many noteworthy features to this card, in addition to the flat-rate cash back. For one, there is a $150 bonus if you spend $500 in the first 3 months from opening the account. Furthermore, the Chase Freedom UnlimitedSM card currently offers 0% introductory APR on purchases and balance transfers within the first 15 months.

Also, you can earn Ultimate Rewards points, which may be used to redeem cash back.  Additionally, the points can be used to redeem gift cards, or for trips through Chase online travel booking portal.

Chase Freedom UnlimitedSM is a suitable card to consider when looking for a flat-rate cash back credit card that has no reward limits. Although there are higher earning flat-rate cards, Chase Freedom UnlimitedSM card does have an advantage with its attractive bonus.

Main Chase Freedom UnlimitedSM Card Highlights

There are various highlights to this card. Obviously, the most notable is the 1% cash back on all purchases.  Your points don’t expire as long as your account remains open and in good standing.

1.5% Cash Back

You earn 1.5% cash back on every dollar spent. The cash back is recorded as points (1.5 points per dollar spent) and each point is worth 1 cent.

The points are stored under the Chase Ultimate Rewards system. Points can be redeemed for cash as either account statement credit or an electronic deposit into a checking or savings account. If you don’t want straight cash, you can also redeem the points for gift cards, merchandise, and more.

If you’re the kind of consumer who does spend heavily in any particular categories, Chase Freedom UnlimitedSM is a good choice to earn solid cash back on all your spending.

Versatility

As part of Chase’s Ultimate Rewards Program, cardholders who also use other Chase credit cards, such as the Chase Sapphire Preferred, have the potential to stack up earnings by pairing them together. Customers can also redeem points for travel through Chase’s online portal.

No Redemption Minimum

Also worthy of a distinguishable mention is Chase Freedom UnlimitedSM card’s access to cash back. There is no minimum to redeem your earnings, unlike many cards. So, whether there is a nickel or a $1 to your rewards account, the money is available to cash out when you’d like.

Incentives to Sign Up

Bonus

Additionally, Chase Freedom UnlimitedSM may have some of the best incentives going right now. There is a sizable bonus in the amount of $150 when you spend $500 in the initial 3 months from account opening. Cardholders can also currently earn a $25 bonus when they add an authorized user to the account in the same time period. They also have to make their first transaction, although no amount is specified. Bonuses do take 6-8 weeks to post to accounts.

0% Intro APR

Also making this card offer enticing is the 0% Intro APR for 15 months on all purchases and balance transfers. However, the balance transfer fee is 5% of the amount transferred, with the minimum being $5. For someone who is looking to consolidate debt, Chase Slate® is likely the better option. Following the initial 15 months, Chase Freedom UnlimitedSM has a variable APR of 14.24%-23.24% for purchases and balance transfers.

Card Protections

Chase Freedom UnlimitedSM card’s chip technology provides cardholders extra protection when used in a chip card reader. There is also zero liability protection when there are unauthorized charges made on the card.

A few other notable protective features include:

  • Purchase Protection: This protects your new purchases for 120 days against damage or theft. This covers up to $500 per claim and $50,000 per account.
  • Price Protection: If there is a price change within 90 days of making a purchase with your card, a Chase Freedom UnlimitedSM cardholder can be reimbursed the difference up to $500 per item and $2,500 per year.
  • Auto Rental Collision Damage Waiver: Cardholders who use their card to pay for a rental service have automatic access to theft and collision damage insurance for most cars in the U.S. and abroad. So, you can kindly decline the company’s collision coverage. The card insurance is still secondary to your primary car insurance, however.

All of these card protections have become the standard for most credit cards.

Final Verdict

The Chase Freedom UnlimitedSM card’s flat-rate cash back is an attractive feature, as well as the versatility the card offers customers.

Whether this card is a suitable option for you or not really depends on how you plan to use the card. Although there is a flat rate of 1% cash back on all purchases, there is no potential to earn more than this. So, if you’re one to generally spend more in a particular category like gas, restaurants, or groceries, you should consider a credit card that offers more cash back on those specific categories.

Also, there are higher flat-rate cash back cards -- Citi Double Cash, for instance. It’s best used when paired with another Chase rewards credit card so that the points can add up faster.

The Chase Freedom UnlimitedSM card is beneficial for cardholders who don’t want the hassle of signing up for rotating categories and requesting cash-back rewards. If you want a card that has options for your earnings, this card has it. This feature is particularly beneficial if you’re already a Chase cardholder, as earnings can really add up.

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