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Chase has launched a valuable new offer on one of its most popular rewards cards, the Chase Freedom Unlimited®.
Instead of an upfront cash bonus, the card now offers an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
When you account for the card's normal earning rate of 1.5% on purchases, that translates to a minimum 3% return on spending during the first year for new cardmembers. After you reach the $20K spending threshold, the earning rate reverts to the standard 1.5% cash back on every dollar spent.
- INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
- Enjoy 6.5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 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).
- After your first year or $20,000 spent, enjoy 5% cash back on Chase travel purchased through Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49% - 25.24%.
- No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
- Earn 5% on travel purchased through Chase
- Earn 3% on dining at restaurants
- Earn 3% on drugstore purchases
- Earn 1.5% on all purchases
If you value simplicity, Freedom Unlimited is an ideal choice because it gives you a great return on every purchase—without having to worry about whether you're using the best card for gas, groceries, dining, etc.
However, the Freedom Unlimited works best as a companion to one of the premium Ultimate Rewards cards:
If you don’t have one of the above cards already, the points earned with the Freedom Unlimited are worth less when you redeem for travel, and they can't be transferred to Ultimate Rewards partners. (More on that below.)
In short, if you're open to the idea of having two Ultimate Rewards cards in the long term, we recommend applying for the Sapphire Preferred—which currently features a welcome bonus of 60,000 points—before getting the Freedom Unlimited.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
- Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
- 5X points on Lyft rides through March 2022
- 5X points on travel purchased through Chase
- 3X points on dining at restaurants worldwide
- 3X points on eligible streaming services
- 3X points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
- 2X points on all other travel
- 1X point per dollar spent on all other purchases
Here’s how the numbers stack up:
- 60,000 points after $4,000 spend
- $95 annual fee
- Points worth 1.25¢ each through the Chase Travel Portal and you can transfer them to airline and hotel partners for potentially much higher redemption values
- 60,000 points after $20,000 spend
- $0 annual fee
- Points worth 1¢ each as cash back or through the Chase Travel Portal
That is not to say that you shouldn’t get the Freedom Unlimited. Long-term, we see the Freedom Unlimited as one of the most valuable cards you can hold for non-bonus spending when integrated into an Ultimate Rewards earning combo of cards. And if you already hold a premium Ultimate Rewards earning card, this offer will allow you to earn 3X points on all purchases in the first year up to $20K spend, and then 1.5X points after that. Ongoing, you're earning 50% more points for every dollar that doesn’t hit a category bonus than if you don’t hold this card.
As a standalone rewards card, the Freedom Unlimited earns points that can be redeemed for 1 cent each as cash back or travel. However, if you pair it with the Sapphire Reserve, Sapphire Preferred, or Ink Preferred, those points are worth 1.25-1.50¢ per point when used for travel. You can also gain the ability to transfer them to Chase’s stellar list of airline and hotel partners, including high-value programs like United MileagePlus, Southwest Rapid Rewards, Virgin Atlantic Flying Club, Singapore KrisFlyer and World of Hyatt.
Freedom Unlimited Application Strategy
Our take on the new Freedom Unlimited offer:
- If you don’t currently hold a premium Ultimate Rewards card that allows you to transfer points to travel partners, and you are under 5/24 – get the Sapphire Preferred first (or the Sapphire Reserve if you can max out the additional travel perks).
- The 60,000 bonus requires just $4,000 spend as opposed to the $20K needed to get less points on the Freedom Unlimited. Plus, you must have a premium Ultimate Rewards earning card to transfer points to partners.
- If you currently hold a premium Ultimate Rewards earning card, or, for whatever reason, you don’t think you can hit the $4,000 minimum spend in 90 days on the Sapphire Preferred, applying for the Freedom Unlimited can provide a ton of value.
- Earning 3x Ultimate Rewards points on non-bonus spending is a fantastic return by anyone's standards, and for folks that can hit the $20K spend over the first year, this offer is an opportunity to capitalize on household expenses that don’t fall within traditional bonus categories.
Keep in mind both the Freedom Unlimited and Sapphire Preferred are subject to Chase’s 5/24 policy, so if you’ve opened 5 or more new credit cards in the previous 24 months, there is almost no chance you’ll qualify for either of these cards.
The new offer on the Chase Freedom Unlimited® could land you a significant balance of Ultimate Rewards points over the first 12 months. And, looking long-term, it's a card you want in your Ultimate Rewards stable of cards, as you receive 50% more points on non-bonus spending than any other consumer UR earning card. But, if you don’t hold a Sapphire Preferred, Sapphire Reserve, or Ink Preferred, you are almost guaranteed a better return by applying for one of those cards first so you can unlock the heavy-weight features that make Ultimate Rewards so valuable; the ability to transfer points to partners, and higher fixed-value redemption options through the Chase Travel Portal.
- Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information
- Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
- Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- 3X points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year
- 1X point per $1 on all other purchases
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