Chase Freedom Unlimited Card Review: Unlimited Matched Cash Back for the First Year

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Chase Freedom Unlimited®

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• Our Rating 4.5/5 How our ratings work
• APR20.49% - 29.24% (Variable)
• Annual Fee$0
• Sign Up Bonus Matched Cash BackExtra Cash Back More Info

  SPECIAL OFFER: Unlimited Matched Cash Back. Chase will automatically match all the cash back you earned at the end of your first year! There is no limit to how much cash back you can earn.

We like that the card offers a high flat rewards rate but also provides accelerated rewards on some common everyday spending categories. You’ll also get access to the Chase Ultimate Rewards Travel portal, which allows you to use your cash-back earnings for travel rewards, gift cards and more. If you make this your primary card for most purchases you can quickly rack up a lot of rewards.

A Flexible Cash Back Card with a Valuable Special Offer

The Chase Freedom Unlimited^® card has been one of the top cash-back credit cards since it first came on the scene. The no-annual-fee cash-back card earns high bonus rates in several popular spending categories and a flat 1.5% cash back on everything else. Plus, as a special offer for new cardholders, Chase will automatically match all the cash back you earn on purchases in your first year. It’s a great option for individuals whose monthly budgets include dining out, grocery and drugstore purchases, and travel.

Chase Freedom Unlimited Highlights

• 5% cash back on travel purchased through Chase Ultimate Rewards, 3% cash back on dining and drugstores and 1.5% cash back on all other purchases
• Cash-back rewards never expire as long as your account is open
• Complimentary membership benefits from partners like Lyft, DashPass and Instacart+
• Free credit score monitoring through Chase Credit Journey
• 0% Intro APR for 15 months on purchases and balance transfers, followed by a 20.49% - 29.24% (Variable) APR
• Extended warranty and purchase protections
• Trip cancellation/interruption insurance
• Auto rental collision damage waiver
• Travel and emergency assistance services

Chase Freedom Unlimited is even more special because you earn cash back in the form of points (Chase Ultimate Rewards®), and paired with another annual-fee-earning Chase product, you can get even more value by transferring to partners.

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Special Offer: Unlimited Matched Cash Back for 12 Months

The Chase Freedom Unlimited credit card features a unique special offer for new cardholders. Instead of offering a set bonus amount, Chase will instead match all cash back you earn on purchases at the end of your first year holding the card.

The fact that there isn't a limit on how much matched cash back you can earn with this offer is quite noteworthy. If you're planning on using this card a lot, you could easily earn enough matched cash back to compete with the best credit card bonus offers out there.

For example, if you typically spend $400 a month on dining and drugstore purchases, you'll earn close to $150 in cash back during the first year. Then, if you book a $1,500 vacation through Chase Ultimate Rewards, you'll earn an additional $75 in cash back. Even with no other purchases, you'll earn an additional $225 in matched cash back at the end of your first year with the card.

As usual, this offer is only available if you don't have this card and haven't received a sign-up bonus for this card in the past 24 months. 

Earning Rewards

Chase Freedom Unlimited offers competitive rewards rates in a few distinct categories. It also earns a decent 1.5% cash back on all other purchases, which is more than acceptable for a card with no annual fee.

Here's how rewards spending breaks down with Chase Freedom Unlimited: 

• 5% cash back on travel purchased through Chase Ultimate Rewards
• 3% cash back on dining (including takeout and eligible delivery services)
• 3% cash back on drugstore purchases
• 1.5% cash back on all other purchases

Redeeming Rewards

Rewards earned with the Chase Freedom Unlimited come in the form of points, which are redeemable in several ways: 

• Cash via statement credit or direct deposit to a linked bank account
• Gift cards
• Pay with points through Amazon.com and other select merchants
• Travel booked through Chase Ultimate Rewards

Chase Ultimate Rewards is the card issuer's popular loyalty rewards program. Redemption options within Ultimate Rewards include flights, hotels, rental cars, cruises, and activities. 

Point values vary depending on the redemption chosen. Points earned with Chase Freedom Unlimited never expire as long as your account is open and in good standing. 

Card Benefits and Perks

Credit cards with no annual fee tend to come with fewer benefits than those with a fee. Luckily, Chase Freedom Unlimited isn't ordinary and provides several valuable benefits to get excited about:

• DoorDash: Cardholders get three months of DashPass membership, with $0 delivery fees and reduced service fees. After that, you're automatically enrolled at 50% for the remainder of the year. Activation is required by December 31, 2024.
• Instacart: The card also comes with a complimentary three months of Instacart+, which provides unlimited deliveries with $0 delivery fee and reduced service fees on eligible orders. You must enroll by July 31, 2024.
• Lyft: Lyft rides earn 5% cash back with Chase Freedom Unlimited through March 31, 2025. 
• Trip cancellation/interruption insurance: If your trip is canceled or interrupted due to sickness, severe weather or another covered situation, you can get reimbursed up to $1,500 per person and $6,000 per trip for prepaid, nonrefundable passenger fares.
• Rental car insurance: Decline the rental car company’s insurance and use your card instead for protection against theft or damage. Coverage is secondary, so if you have a personal auto insurance policy, you’ll need to file a claim there first and your card’s coverage will cover the rest, including your deductible.
• Travel and emergency assistance services: Cardholders have access to travel and emergency assistance for legal and medical referrals when traveling. 
• Purchase protection: This covers new purchases against damage or theft for 120 days after purchase, including cellphones and other electronics (limit of $500 per claim and $50,000 per account).
• Extended warranty protection: This benefit gives you an additional year of warranty coverage for eligible purchases. If you buy something with a warranty of three years or less, you’ll be happy to have this coverage as a backup plan.
• Free credit score monitoring: Chase Credit Journey allows you to access your credit score at any time and get no-cost identity restoration services if needed.

Drawbacks

Like any credit card, Chase Freedom Unlimited has some drawbacks. Here are some factors to consider before considering this card:

• Foreign transaction fees: Chase charges a 3% foreign transaction fee on all purchases made outside of the United States. 
• Points aren’t transferable: Unfortunately, you can't transfer points earned with the Freedom Unlimited card unless you pair it with select Chase credit cards.

Annual Fee

Chase Freedom Unlimited has no annual fee, so it’s possible to use it with no costs at all as long as you pay off the balance in full by the due date and avoid certain fee-bearing activities.

0% Intro APR

Chase Freedom Unlimited allows new cardholders to save money with an introductory 0% interest rate on purchases and balance transfers for the first 15 months of account opening. After that, the 20.49% - 29.24% (Variable) APR applies based on your creditworthiness.

Balance transfers carry a fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, the balance transfer fee is either $5 or 5% of the transferred amount, whichever is greater.

Recommended Credit Score

While the credit card issuer doesn’t publicly disclose the credit score needed to qualify for the Chase Freedom Unlimited, this card is designed for people with good to excellent credit scores (690-850). Your credit limit will vary based on your credit history and any existing relationship with Chase.

However, you may not need excellent credit to get the Chase Freedom Unlimited. In fact, many cardholders report getting approved with good credit.

How Chase Freedom Unlimited Compares

Chase Freedom Unlimited is a great option for cash-back rewards but may not be a good fit for everyone. Here's a look at how the popular cash-back card compares to other credit cards. 

^{* Information for the Quicksilver card is not reviewed by or provided by Capital One}

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Chase Freedom Unlimited vs. Chase Freedom Flex

Chase Freedom Unlimited and Chase Freedom Flex℠ both offer cash-back rewards on card spending with no annual fee. Also, both cash-back cards offer the same introductory 0% APR offer. Where they differ is in their rewards structure. 

While Chase Freedom Unlimited earns unlimited 1.5% cash back plus bonus rates in specific categories, Chase Freedom Flex features rotating quarterly bonus categories. You can earn 5% cash back on up to $1,500 each quarter in combined purchases in rotating categories like grocery stores and gas stations. Like Freedom Unlimited, Freedom Flex earns bonus rates on dining, drugstore purchases, and travel booked through Chase Ultimate Rewards. With few differences between the two cards, the best option depends on which rewards structure best aligns with your spending habits. 

Chase Freedom Unlimited vs. Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card is another cash-back card to consider, especially if you're looking for no-frills rewards that don't require tracking spending categories. The card earns unlimited 1.5% cash back on all purchases and 5% cash back on hotels and rental cars booked through Capital One. 

Like Freedom Unlimited, the Capital One Quicksilver Cash Rewards Credit Card offers several travel benefits, including travel accident insurance, concierge access, and 24-hour travel assistance services. And unlike the Chase card, Capital One Quicksilver Cash Rewards Credit Card doesn't charge foreign transaction fees, making it a better choice for interested travelers.

^{* Information for this card not reviewed by or provided by Capital One}

First Year vs. Ongoing Value

With its unique matched cash back special offer, Chase Freedom Unlimited will undoubtedly provide more value in the first year of card ownership. As mentioned, you'll earn unlimited matched cash back on purchases during the first 12 months you hold the card.

Even so, this card is still a powerful earner beyond the first year, especially since it doesn't carry an annual fee. With elevated rewards rates for dining, drugstore and travel purchases, you likely will continue to shop its top cash back categories well into the future. Plus, the Chase Ultimate Rewards Program's flexible redemption options make this card pair excellently with Chase's more premium cards.

A No-Annual-Fee Gem

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Who Should Get the Chase Freedom Unlimited?

Chase Freedom Unlimited is a good option for individuals who want to earn cash back without paying a fee each year or plan to maximize their benefits by pairing it with a Chase Ultimate Rewards-earning card.

It's also a solid option for those who spend considerable money each year on travel and dining out. The card comes with a decent intro APR offer, making it a good choice for people who want to finance large purchases or pay down credit card debt without costly interest charges. For balance transfers, compare transfer fees to your current card's APR to determine if it's worth moving your balance to the Freedom Unlimited. 

With expensive foreign transaction fees, it's not a good card for frequent travelers headed outside of the U.S. You'd be better off bringing a travel credit card instead. It's also not an ideal card if you're not interested in tracking spending categories to ensure you're getting as much value as possible. 

Frequently Asked Questions

• Does Chase Freedom Unlimited have a quarterly bonus?

  Currently, the Chase Freedom Unlimited card doesn't offer a quarterly bonus. However, the Chase Freedom Flex card does have bonus categories, which change each quarter. For each quarter you activate, you can earn 5% cash back on rotating bonus categories, up to $1,500. These categories can include gas stations, groceries, and featured online retailers. 

• Can I change my Chase Freedom Unlimited card to the Chase Sapphire Preferred Card?

  You normally can't change or swap one credit card for another. However, you can have both credit cards, or ask for an upgrade for your Chase Freedom Unlimited card by contacting customer service. Chase rewards points are transferrable across certain cards. 

• Can you have both Chase Freedom Flex and Chase Freedom Unlimited cards?

  Yes, as long as you're eligible you can have both the Chase Freedom Flex and the Chase Freedom Unlimited credit cards. Both cards work with the same programs and travel portals, such as Chase Ultimate Rewards. 

• What credit score do you need for the Chase Freedom Unlimited?

  Chase doesn't publicly disclose credit score requirements. Chase Freedom Unlimited is geared toward individuals with a good to excellent credit score, which is a FICO score of 690 or higher.

• What counts as travel for the Chase Freedom Unlimited?

  Chase Freedom Unlimited earns bonus rewards for travel purchased through Chase Ultimate Rewards, its loyalty rewards program. Cardholders can book flights, hotels, rental cars, cruises and other travel experiences through Ultimate Rewards.

• Can Chase Freedom Unlimited points be transferred to travel partners?

  Points earned with Chase Freedom Unlimited are not transferable to Chase transfer partners. The only way to transfer points earned with the card is by pairing it with select Chase Ultimate Rewards-earning cards with an annual fee.

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