Charles H. Miller
The Chase Freedom Unlimited is a simple cash back card that offers 1.5% cash back on every purchase. It also comes with a 0% introductory APR on purchases and balance transfers for the first 15 months, as well as a sign-up bonus of up to $175. It has no annual fee.
Highlights
- Up to $175 sign-up bonus
- 1.5% cash back on every purchase
- Shopping benefits
- 0% intro APR on purchases and balance transfers for the first 15 months, then 14.24 – 23.24%
- No annual fee
How It Works?
Cash back: The Chase Freedom Unlimited offers a flat rate of 1.5% cash back on every purchase, with no limits of any kind. You can request the cash earned to be deposited into a checking or savings accounts, or redeem it for gift cards, travel, or merchandise.
Sign-up bonus: $150 after spending $500 in purchases within the first 3 months of opening the account, and another $25 when you add an authorized user and make a purchase within the same 3-month period.
APR: 0% Intro APR for the first 15 months on purchases and balance transfers. After that, a variable APR of 14.24%, 19.24%, or 23.24% applies.
Shopping benefits: Including purchase protection for 120 days against damage or theft (up to $50 per claim and $50,000 per account), and price protection that allows you to receive reimbursement of the price difference (up to $500 per item and $2,500 per year).
Costs
- 0% Intro APR for the first 15 billing cycles on purchases and balance transfers; 14.24%, 19.24%, or 23.24% variable APR after that
- 5% Balance Transfer Fee (minimum $5)
- 3% Foreign Transaction Fee
- $0 Annual Fee
Pros
- Easy to understand cash back rewards — 1.5% fixed cash back is much easier to manage than rotating categories.
- Sign-up bonus that is easy to reach — no need to spend thousands to get it.
Cons
- More rewards would be nice. We’ve seen cards offering 2% flat returns. Or if you can manage rotating categories (and it’s really not that hard), you can earn much more with some other card.
- Foreign transaction fee forces you to use another card while travelling outside of the U.S.
Is This The Card For You?
If you’re looking for a simple cash back card, the Chase Freedom Unlimited may be just the right product for you. We do advise you to learn how to manage rotating categories (cause it’s not that hard) and get some other card, instead. Or you may want to combine this card with some other product that is targeting certain purchases, like gas or groceries. In any case, you can hardly go wrong with Chase Freedom Unlimited — you’ll get something in return for every dollar you spend. Plus, you get to benefit from a 0% introductory APR during the first 15 billing cycles.
