Chase Freedom Unlimited Review: A Potential One-Card Solution
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5.0
The card's rewards structure isn't the easiest to remember. But its useful bonus categories, flexible rewards and outstanding welcome offer make it a top contender among cash-back cards.
Pros
No annual fee
Intro APR period
High rewards rate
No minimum redemption amount
Cons
Requires good/excellent credit
on Chase's website
Compare to Other Cards
Annual fee$0 | Annual fee$0 | Annual fee$0 |
Regular APR19.74%-28.49% Variable APR | ||
Intro APR0% intro APR for 15 months on purchases and balance transfers | Intro APR0% intro APR on Balance Transfers for 18 months | Intro APR0% intro APR for 15 months on purchases and balance transfers |
Recommended Credit Score |
Recommended Credit Score |
Recommended Credit Score |
Detailed review: Chase Freedom Unlimited®
The Chase Freedom Unlimited® offers a compelling combination of valuable rewards, flexible redemption options, a lengthy 0% introductory APR period and a sign-up bonus that’s worth more than most cash-back cards offer — all for an annual fee of $0.
The Chase Freedom Unlimited® earns 3% cash back on restaurants and drugstore purchases, 5% back on travel booked through Chase and 1.5% back on other purchases. Put that together and you have a card that can really pile up the cash back. And if you carry other credit cards that also earn Chase Ultimate Rewards® points, it packs even more value.
But all those different rewards rates make the card more complicated than competitors that offer a simpler 1.5% back on everything. One remedy: Make the Chase Freedom Unlimited® a top-of-wallet card for every purchase, and you’ll be sure to score those bonus rewards without having to think much about it.
It’s why this card makes a compelling case to be a one-card solution among cash-back credit cards.
Chase Freedom Unlimited®: Basics
Card type: Cash back.
Annual fee: $0.
Sign-up bonus: 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! (NOTE: This offer is available when you apply through NerdWallet. If you apply directly with Chase or through a different website, you may not be eligible for this offer.)
Rewards:
5% back on travel purchased through Chase Ultimate Rewards®.
3% back at restaurants, including takeout and eligible delivery services.
3% back on drugstore purchases.
Through March 31, 2025, 5% back on qualifying Lyft services purchased through the Lyft app.
1.5% cash back on everything else.
With the bonus offer currently in effect on the Chase Freedom Unlimited® through NerdWallet, the rewards rates listed above get boosted by 1.5% for the first $20,000 in total spending in the first year. Categories that usually earn 5% cash back will instead earn 6.5%. Categories that usually earn 3% cash back will instead earn 4.5%. And all other purchases will earn 3%.
Interest rate: 0% intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 19.74%-28.49% Variable APR.
Foreign transaction fee: 3%.
Chase Ultimate Rewards® points
Although the Chase Freedom Unlimited® is marketed as a cash-back card, your spending actually earns Chase Ultimate Rewards® points. Points are worth a penny apiece when redeemed for cash back, thus you get 1.5% cash back or more depending on the category of your purchase. Points may also be redeemed for:
Gift cards at 1 cent per point.
Travel booked through Chase at 1 cent per point.
Amazon purchases at 0.8 cent per point.
The Chase Freedom Unlimited® is an excellent card on its own, but it's even better as a companion to other cards that earn Chase Ultimate Rewards® points. More on that below.
Chase Freedom Unlimited® vs. Chase Freedom Flex
If you're looking at the Chase Freedom Unlimited®, it's logical to wonder how it compares with the similarly named Chase Freedom Flex℠.
Both Freedom-branded cards have an annual fee of $0, and both offer lucrative ways to earn cash back.
The choice mostly comes down to rewards: 5% quarterly rotating categories on the Chase Freedom Flex℠ or the 1.5% “everything else” (instead of 1% everything else) of the Chase Freedom Unlimited®.
A quick evaluation:
Chase Freedom Flex℠: The 5% cash back is enticing but complicated. Bonus cash back is also capped at $1,500 per quarter in spending before reverting to 1% back. Category activation is required; all other purchases earn 1% cash back.
Chase Freedom Unlimited®: The 1.5% back on everything else is less exciting but simpler and way more flexible.
Which is more valuable will depend on how well the rotating bonus categories of the Chase Freedom Flex℠ match your spending. It also depends on how much you spend overall. Big spenders might get more value from 1.5% on everything else because it’s unlimited.
The Chase Freedom Unlimited® runs on the Visa payment network, while the Chase Freedom Flex℠ is a Mastercard. In terms of acceptance, it doesn't matter much if you carry a Visa or a Mastercard. But Visa and Mastercard do offer some differing side perks.
The table in the dropdown menu below highlights the differences in rewards between the two cards and the older Chase Freedom®, which is no longer accepting applications and has been effectively replaced by the Chase Freedom Flex.
For more information on which of these Freedom credit cards is right for you, see our full comparison story.
Benefits and perks
As a cash-back card, the Chase Freedom Unlimited® delivers a great treat for new cardholders followed by high ongoing value at a low cost. Its best features include:
Potentially rich sign-up bonus
Unlike a standard credit card bonus, which pays you a lump sum once you hit a specific spending amount, the bonus on the Chase Freedom Unlimited® comes in the form of higher reward rates in the first year, which, depending on how much you spend, can really add up: 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! (NOTE: This offer is available when you apply through NerdWallet. If you apply directly with Chase or through a different website, you may not be eligible for this offer.)
Comparable no-fee cash-back cards nowadays offer bonuses of around $200. To earn that much in extra rewards on the Chase Freedom Unlimited®, you'll have to spend $13,333 in the first year, or $1,111 per month.
Useful bonus categories
The bonus rewards categories are useful and lucrative:
3% back at restaurants, including takeout and eligible delivery services.
3% back on drugstore purchases.
5% back on travel purchased through Chase Ultimate Rewards®.
Through March 31, 2025, 5% back on qualifying Lyft services purchased through the Lyft app.
Restaurants and drugstores are especially useful rewards categories for many households. Spend $3,000 a year combined in those categories, and you’ll earn $90 annually.
And if you book travel through Chase, 5% can add up quickly on pricey travel itineraries. Vacation travel costing $6,000 gets you back $300, for example.
1.5% on 'everything else'
Cash-back credit cards with bonus categories, like 3% back on restaurants, typically offer 1% cash back on “everything else.” The Chase Freedom Unlimited® offers 1.5% back on everything else.
While 0.5% more doesn’t seem like much, it adds up for big spenders because it has no limit. And many big-ticket expenses seldom fall neatly into typical bonus categories — think medical bills, car tires and furnace repair.
For those who spend a lot, say $5,000 per month on “everything else,” the extra 0.5% rate on the Chase Freedom Unlimited® means an extra $300 a year in cash back, compared with its typical competitors.
Point transfers to maximize value
Because Chase allows you to transfer its points among cards that earn them, the Chase Freedom Unlimited® can be a cornerstone of a strategy to get maximum value out of every dollar you spend. If you have multiple Chase cards, you can:
Earn more points by splitting your spending between this card and the Chase Freedom Flex. By using the Chase Freedom Flex for purchases in the 5% bonus categories and the Chase Freedom Unlimited® on all other spending, you'd boost your overall rewards earnings significantly.
Get more value per point by transferring rewards to a card with elevated redemption values. Points earned with this card are usually worth a penny apiece. But several Chase cards give you more value per point when you use them to book travel through Chase's online portal, operated by Expedia:
With the Chase Sapphire Preferred® Card and the Ink Business Preferred® Credit Card, each point is worth 1.25 cents when redeemed for travel through Chase.
With the Chase Sapphire Reserve®, points are worth 1.5 cents apiece when redeemed for travel through Chase.
These three cards also allow you to transfer points at a 1:1 ratio to about a dozen airline and hotel loyalty programs, including United Airlines, Southwest Airlines, JetBlue, Marriott and Hyatt. Depending on how you use transferred points, you could reap even more value.
» MORE: What is the 'Chase trifecta'?
Drawbacks and considerations
It’s complicated
The 1.5% flat rate is easy enough to understand, but the mix of reward rates in other spending categories is head-spinning — especially for cash-back lovers, who tend to value simplicity. Add in the extra 1.5% in the first year, and things get even more ... interesting.
If you don’t want to carry around a rewards cheat sheet to optimally use a credit card and you’re just interested in cash-back rewards — not necessarily Chase Ultimate Rewards® — the Citi® Double Cash Card is one of the best flat-rate cards on the market. It offers 2% cash back — 1% back on every dollar spent, and 1% back on every dollar paid off — and not just for a limited time.
It’s the choice for satisficers: people who are happy to settle for a good-enough option without feeling regret.
Better rates available in specific categories
Cards with rewards bonus categories are most valuable when you spend a significant amount in those categories.
Alternative options include:
The Blue Cash Preferred® Card from American Express pays an industry-leading 6% cash back at U.S. supermarkets on up to $6,000 a year in spending (then 1%), plus 6% on select U.S. streaming subscriptions, 3% at U.S. gas stations, 3% on transit and 1% on all other spending. Terms apply (see rates and fees). It comes at a cost, though: A $0 intro annual fee for the first year, then $95. Terms apply. This is an ideal card for high grocery spenders.
The Bank of America® Customized Cash Rewards credit card pays 3% in a category of your choice (gas, online shopping, dining, travel, drugstores or home improvement/furnishings) and 2% at grocery stores and wholesale clubs, on up to $2,500 in combined choice-category/grocery-store/wholesale-club spending per quarter. All other spending earns 1% cash back.
You can find out more about how this cash-back credit card compares versus the competition by visiting our list of best credit cards to get.
How to decide if it's right for you
The Chase Freedom Unlimited® is a great deal for consumers — especially for those who already have the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®.
It comes with a potentially rich sign-up offer, useful bonus rewards categories and plenty of options for cashing in rewards. It’s not as simple as a flat-rate cash-back card, but its versatility and value make it a strong choice.
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on Chase's website
