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- Bank of America® Cash Rewards credit card
- Chase Freedom®
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The bottom line: You can find options that pay higher rewards rates, but this card's simplicity, flexibility and versatility make it a champ in the 1.5% cash-back game.
- Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- Earn unlimited 1.5% cash back on all purchases.
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49 - 25.24%.
Pros & Cons
High rewards rate and no minimum redemption
No annual fee
Intro APR period on Purchases and Balance Transfers
Has foreign transaction fee
No bonus rewards categories
Requires good/excellent credit
Alternate Pick: Bonus cash back
Compare to Other Cards
16.49% - 25.24% Variable APR
13.99% - 23.99% Variable APR
0% on Purchases and Balance Transfers for 15 months
0% on Balance Transfers for 18 months
Recommended Credit Score
Recommended Credit Score
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The Chase Freedom Unlimited® offers a compelling combination of easy-to-earn rewards, flexible redemption options, a solid sign-up bonus and a lengthy 0% introductory APR period — all for an annual fee of $0.
Although the card has done away with its splashy 3% introductory rewards rate, its other features still put it at the top of the class among 1.5% cash back cards. And if you carry other credit cards that earn Chase Ultimate Rewards® points, it packs even more value.
Chase Freedom Unlimited®: Basics
Card type: Cash back.
Annual fee: $0.
Sign-up bonus: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening. .
Rewards: 1.5% cash back on all purchases.
Interest rate: 0% APR for 15 months on purchases and balance transfers, and then the ongoing APR of 16.49% - 25.24% Variable APR.
Balance transfer fee: In the first 60 days, 3% of the amount transferred, or $5, whichever is greater. After 60 days, 5% or $5, whichever is greater.
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. For each $1 you spend, you get 1.5 points; points are worth a penny apiece when redeemed for cash back, thus you get 1.5% cash back. 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 cents 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®
If you're looking at the Chase Freedom Unlimited®, it's only natural to wonder how it compares with the original Chase Freedom®.
Both of the Freedom-branded cards give you cash back, but how you earn it is markedly different. The Chase Freedom Unlimited® pays a flat rate on every purchase, regardless of what you buy or where. The Chase Freedom® pays 5% cash back in bonus categories that change every three months — things like gas stations, grocery stores and restaurants. The 5% is good on up to $1,500 per quarter in spending. All other purchases earn 1% cash back. Plus, it offers a cash sign-up bonus — and a fairly-easy-to-earn one at that.
Which is better for you depends on your spending. If you spend a lot in common household categories like gas and groceries, the Chase Freedom® is probably a more valuable card for you. But if your spending is all over the place, the Chase Freedom Unlimited® could be the stronger option. For a more thorough breakdown of the differences, read NerdWallet's comparison of the two.
Why you might want the Chase Freedom Unlimited®
As a flat-rate cash-back card, the Chase Freedom Unlimited® delivers high ongoing value at a low cost. Its best features include:
With no categories to keep track of and no limits on how much you can earn, the Chase Freedom Unlimited® is ideal for people who want to earn solid rewards with minimal effort. Just make sure to earn the sign-up bonus — the low spending requirement makes that easy to do.
No minimum redemptions
With this card, you can redeem for cash back in any amount — even for as little as 1 cent. Many cash-back cards impose a redemption minimum of $20 or more, which can require you to put thousands of dollars on the card before you're able to access the rewards you've earned. The lack of a minimum means you can redeem every cent you earn.
An EXCELLENT 0% APR period
The card also comes with a better-than-average introductory APR period for a rewards card: 0% APR for 15 months on purchases and balance transfers, and then the ongoing APR of 16.49% - 25.24% Variable APR.
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®. By using the Chase Freedom® for purchases in the 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 your rewards to a card with elevated redemption values. As mentioned, the 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 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 used your transferred points, you could reap even more value.
Drawbacks of the Chase Freedom Unlimited®
Not the highest flat-rate cash-back card
If you’re just interested in cash-back rewards — and not necessarily Chase Ultimate Rewards® — the Citi® Double Cash Card – 18 month BT offer 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. That ongoing, year-after-year rate beats the ongoing 1.5% rate on the Chase Freedom Unlimited®.
No bonus categories
The whole point of a flat-rate cash-back card, of course, is to increase your rewards earnings across the board, not just in one category. But for those who do a lot of spending in one area — say, groceries — a card with bonus categories may offer more overall value. And there's no reason you couldn't use both types of cards: a flat-rate card for everyday purchases, and a card with tiered rewards for purchases within a certain category. Among popular options:
The Blue Cash Preferred® Card from American Express pays a best-in-class 6% cash back at U.S. supermarkets on up to $6,000 a year in spending (then 1%), 6% on selected streaming subscriptions, 3% at U.S. gas stations, 3% on transit and 1% on all other spending (terms apply). It comes at a cost, though: The annual fee is $95.
The Bank of America® 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. Annual fee: $0.
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 apply for.
Chase Freedom Unlimited®: Is it worth getting?
The Chase Freedom Unlimited® is a good deal for consumers — especially for those who already have the Chase Sapphire Preferred® Card, Chase Sapphire Reserve® or Chase Freedom®.
With no minimum redemptions and plenty of options for cashing in on rewards, it offers more flexibility than we’ve seen in other Chase cards. It doesn't come with the highest ongoing flat-rate cash-back rate, but its versatility and value make it a super-strong choice.
on Chase's website
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