Review: Chase Freedom Unlimited
Chase has two versions of their Chase Freedom, the Unlimited and the Flex. The Unlimited is the more straightforward of the two and has an incredible signup bonus offer currently. This is a slam dunk if you already have the Chase Sapphire Preferred or the Sapphire Reserve. What makes it even better is there’s no annual fee!
Quick Facts
Signup Bonus:
Earn an additional 1.5% cash back on all purchases up to $20,000 (up to $300 cash back) in the first 12 months
Points Earned: This is a cash back card but where things get interesting and really rewarding is if you have one of their Sapphire cards, either the Sapphire Preferred or the Sapphire Reserve, or if you have the Chase Ink Business Preferred, you can convert all the cash back points into Chase Ultimate Rewards points which you can use for 1.25 cents each toward travel or you can transfer them on a 1:1 basis to their 13 airline and hotel partners which is my preferred way to use them. I value Chase points at 1.7 cents per point. This increases their value by 70%.
Earnings Structure:
5% 6.5% back on travel booked through the Chase Travel Portal.
5% 6.5% back on all Lyft purchases through March 2025.
3% 4.5% back on dining.
3% 4.5% back on drug stores.
1.5% 3% back on all other purchases.
Foreign Transaction Fees: 3% Keep this card at home when you’re traveling abroad as you’ll be hit with this 3% foreign transaction fee.
Annual Fee: $0
The Chase Freedom Unlimited is one of the best no annual fee cards out there, especially considering it earns a minimum of 1.5% back on all purchases and now up to 3% back on all purchases in the first year on up to $20,000 of spending.
Who is Eligible?
You are eligible for this card if you do not currently have this card or have not received a welcome bonus from this card within the last 24 months. Even if you currently have another Chase card, including the other version of this, the Freedom Flex, you can still get one of these great sign up bonuses.
5% back on Travel Booked Through the Chase Travel Portal
While this may sound enticing, there are some drawbacks to booking this way. Eligible purchases include airline tickets, hotels, rental cars, cruises, and vacation rentals. There’s an opportunity cost to not booking directly and going through the portal. Not only is it much easier to deal directly with the company who is actually providing that travel but you also will earn points with their loyalty program and have your elite status recognized. While you’ll earn miles and status with your airline if you enter in your loyalty number in Chase’s travel portal, you generally will not earn any hotel points or status. If you have to change your plans or need to rebook, you must reach out to Chase which can be a pain especially when you’re pressed for time. This is especially relevant with an airline where changing plans can be very difficult through a third party like Chase. They’re acting as a liaison between you and the travel provider. It’s much easier to go straight to the source.
You will earn 1.5% back on all other travel not booked through Chase.
Chase Offers
Similar to Amex Offers, Chase has certain deals you can enroll in at various places to get cash back. While not as many or as exciting as Amex Offers, there are still some additional savings to be had. These offers have more restrictions than Amex Offers in that there’s typically a low maximum cash back you can earn, like with this Jersey Mike’s example.
Chase Offer- Jersey Mike’s Earn 15% back up to a maximum of $4.50
Chase Freedom or Citi Double Cash?
The Chase Freedom and Citi Double Cash are two of the best cards out there for everyday purchases that don’t have an annual fee. On paper the Double Cash is the better card for everyday purchases. However, I think more people are familiar with Chase and are more likely to have one of the other Chase cards that can turn your Chase Freedom cash back into Ultimate Rewards points. Additionally, the Freedom does have a few spending categories where you get a bonus where the Double Cash does not.
Is it Worth It?
Don’t have one of the Sapphire cards or the Business Ink Preferred? No worries, you can always apply later and convert your Freedom points into Ultimate Rewards points down the road.
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