One of the very popular credit cards that is almost always mentioned amongst the top credit cards in the market is Chase Freedom Unlimited®. It is unique in its features with an almost perfect blend of rewards and simplicity. The card is such that it can suit an individual with a good credit score as well as someone who may just be starting out in the credit market.
This credit card offers a flat 1.5% cashback on all purchases, with the points never expiring as long as the account remains open and in healthy condition. For any individual who uses the card regularly, these rewards can be significant. For example, let’s say you use $3,000 per month on your credit card. That amounts to $36,000 for the year. That shall give you a total of 54,000 points or $540 in cash value. But you get more than that. You get an additional 1.5% cashback on drugstore purchases or dining purchases and an additional 3.5% cashback on purchases through Chase TravelSM. So, you definitely do get the opportunity to stack up the points. This becomes even more valuable if you were to combine this with a Chase Sapphire Reserve® or Chase Sapphire Preferred® Card, because you can combine the points for the cards through their Ultimate Rewards Points program to get a higher value for your points. In the example above, you could get up to a $810 value for the same number of points.
You also get a welcome bonus of $200 after spending $500 in purchases in the first 3 months of account opening!
With this credit card, you also benefit because it is relatively inexpensive. You don’t have to pay any annual fee for a start. This is especially beneficial if your usage of the card is relatively less. That is because if you earn a certain amount in cashback but then have to pay an annual fee which offsets the rewards, it becomes net loss in that scenario. This is why this credit card is beneficial for a wide variety of consumers.
You also get a 0% APR promotion for 15 months on both Purchases and Balance Transfers followed by a variable APR of 19.49% - 28.24%(Rates and Fees). This is a huge benefit if someone wants to make a large purchase or transfer a high interest balance to this credit card and then pay over the course of 15 months without paying any interest.
If you compare the features of this credit card, you have multiple credit cards in the market which offer almost similar features and sometimes even better. But the simplicity of this card is certainly appealing. You don’t have to worry about the categories where you might earn more or a timeline before you can use the rewards.
So, who is it good for?
If you are an existing Chase customer with other Chase credit cards, you can add Chase Freedom Unlimited® to your wallet, as it will certainly add value in that scenario. You can use the Ultimate Rewards Points to collect points and get elevated value for your points.
If you have a checking or savings account with Chase and are just starting out in the market, Chase Freedom Unlimited® is a very good card to start with. The reason is, it’s an easy card to maintain, earns fair rewards and is inexpensive, which are all the good characteristics when you are starting out. It would also be easier for you to manage all the banking accounts in one place.
If you have a fair credit profile with some credit on file, this credit card will be a good addition for the same reason as above. You can earn good rewards without having to pay exorbitant fees.
Who is it not good for?
If you have very good credit scores with higher value credit cards, then Chase Freedom Unlimited® may not add much value to you. You wouldn’t earn very high rewards compared to what you may already have.
If you are looking for a high value travel card, then again this may not fulfil your requirements. While you do get some good rewards through Chase TravelSM, it is very limited compared to some other travel cards in the market.
All information about Chase Freedom Unlimited® credit card has been collected independently by Credit Ready. This credit card is no longer available through Credit Ready.