You also have the option to use Freedom Unlimited points to pay for travel in the Chase Ultimate Rewards portal. If you want to use your points for cash back, you can redeem them for either a statement credit or direct deposit into your bank account. Once you’ve earned rewards, the Chase Freedom Unlimited is extremely flexible in how you redeem them, giving you plenty of different redemption options without any minimum to redeem for cash back. As you can see, this new introductory offer is aimed more at cardholders who spend substantially in the first year and ultimately rewards more. The card’s previous offer provided new cardholders the chance to earn a $200 sign-up bonus for spending $500 in the first three months of card membership. If you meet the $20,000 spending limit, this offer is valued at $300. The Chase Freedom Unlimited card comes with a unique introductory offer, allowing new cardholders to earn an additional 1.5% cash back on all purchases (up to $20,000) in the first year. Of course, you could earn even more if you spend heavily in the card’s bonus categories.
With an average spend of $15,900 per year, a consumer should earn around $328 per year in cash back with the Chase Freedom Unlimited, about $100 more per year than we’d expect with the card’s traditional cash back program. Based on the average consumer’s spending habits, we estimate that the Chase Freedom Unlimited now carries a terrific average rewards rate of just over 2% back. This new rewards earning scheme is unique, as most cards that offer bonuses in specific spending categories limit you to a 1% cash back rate on general purchases. Through March 2025, you’ll also earn 5% cash back on Lyft purchases.
The Chase Freedom Unlimited is on track to be an ideal choice for cardholders who want the best of both worlds: Not only do you earn 1.5% cash back on general purchases, but you’ll also get 5% back on travel purchased through the Chase Ultimate Rewards portal, 3% back on dining and on drugstore purchases, and an additional 1.5% in each category for the first year, on up to $20,000 worth of purchases. Earn cash back on general purchases and bonus categories Why you might want the Chase Freedom Unlimited CardĮven for those who don’t have any other Chase cards, the Chase Freedom Unlimited can still be a fantastic addition to your wallet due to its impressive cash back rewards, attractive welcome bonus and decent introductory APR offer. You are required to use the Chaser Ultimate Rewards portal when booking to earn your cash back rates, otherwise you will only earn the flat 1.5% rate.The card isn’t ideal for use when traveling abroad since it charges a 3 percent foreign transaction fee.It requires applicants to have good or excellent credit, so it may be difficult to be approved if your credit score is low.
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