Chase Freedom Unlimited Credit Card Review 2023

The Chase Freedom Unlimited Visa® is an unsecured cash back credit card. It provides significant reward rates for regular purchases to cardholders and there are no sign-up requirements for categories. There’s also no cap on the amount of cash back you can get.

But is the card a good fit for you? 

Let’s dive in—

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Chase Freedom Unlimited Visa® at a Glance

Type: Cash back card

Annual fee: None

Maintenance fee: None

Credit score: Good (670+)

Cash back: 1.5% on all purchases, 3% on drugstore purchases and dining, 5% on travel 

Intro offer: $200 bonus after spending $500 on purchases in the first 3 months of opening account. 

Benefits: Cash back, Visa benefits including rental car coverage for collision or theft, no maintenance or yearly fees 

Chase Freedom Unlimited Credit Card—How Does It Work?

The Chase Freedom Unlimited Visa® helps users earn 5% cash back on travel booked using Chase Ultimate Rewards, 3% cash back on dining and pharmacy purchases, and 1.5% cash back on all other purchases. 

It offers a 0% introductory APR on purchases and balance transfers for 15 months after account opening. The APR is changeable after that, with rates ranging from 19.74% to 28.49%. There’s no yearly fee for the credit card. 

Chase Freedom Unlimited isn’t the ideal option for everyone, though. It can have a high APR, and it requires outstanding to excellent credit. So before applying, we advise having a score of at least 670.

Chase Freedom Unlimited Visa® Review: Overall Card Rating

Chase Freedom Unlimited Visa® Review

With 84% of US adults having a credit card in 2021 and around 73% of Americans needing their first credit card by age 25, the Chase Freedom Unlimited Visa® may be a top contender for many due to its rewards system. 

Here’s what you should know before you apply—

Pros

Cons

Chase Freedom Unlimited Visa®—what we like

No Annual Fee 

This card is a solid option if you’re looking to save on credit card fees. 

The Chase Freedom Unlimited® card has a lot to offer regardless of how much or how little you use your credit card because it has no annual fee.

Rewards

You can earn 5% on travel expenditures through Chase Ultimate Rewards, 3% on drugstore purchases, dining out, and restaurants (including takeout and qualified delivery services), and 1.5% on all other purchases thanks to the card’s rewards program. 

There’s a max earnings, meaning you can only earn cash back up to $20,000 every year. 

Introductory Offer 

This card has multiple introductory offers, and you can use all of them right now. 

After spending $500 on purchases within the first three months of opening your account, you’ll receive a $200 bonus. 

Additionally, you can get 5% cash back on up to $6,000 in gas station purchases in the first year. 

And if that wasn’t enough, you’ll get a 15-month introductory APR of 0% on purchases. 

Flexible Redeeming Options

Although the Chase Freedom Unlimited card offers cash back, the incentives you get are in the form of Chase Ultimate incentives points. 

As a result, calculating the value of your rewards is a little more difficult, because you have to multiply the points by one cent in order to figure out its value as a statement credit, a cash deposit, or gift card. 

However, you can transfer points on a 1:1 basis and use Chase’s travel partners as transfer partners, which makes earning points more advantageous than earning cash rewards.

Other Perks

There are many other perks with this card, too. This includes a free DashPass membership for Door Dash for three months. For those who enjoy ordering in, this is fantastic. The deadline for this bonus is December 31, 2024.

Within 120 days of your purchase, the card will cover damaged or stolen goods for a maximum of $500 per claim and $50,000 per account. In addition, three-year or shorter US manufacturer warranties on items bought with this card are extended by an additional year.

Insurance for interruptions and cancellations of trips is another desirable feature. You may be entitled to compensation for purchased tickets and non-refundable passenger charges totaling up to $1,500 per person and $6,000 per trip if your journey is postponed or cancelled due to illness, inclement weather, or other covered reasons.

Chase Freedom Unlimited Visa®—things to keep in mind

High APR 

The APR rate rises significantly after the introductory period. 

For purchases and balance transfers, a rate between 19.49% and 28.24% is determined by your creditworthiness. The flat rate for cash transfers is very high at 29.49%. 

And if you don’t pay the minimum amount within 60 days of the due date, Chase charges you a high penalty APR of 29.99%.

Foreign transaction fee

The foreign transaction charge for the Chase Freedom Unlimited® is 3%, which is quite expensive. 

If you want to travel the world or shop at any international retailers, you should look into alternative travel credit cards.

Cash advance and balance transfer fee

Balance transfers will incur a fee of $5 or 5%, whichever is higher, starting after the introductory period. 

You should anticipate paying a fee of $10 or 5% of the total transaction amount, whichever is higher, if you accept cash advances or withdraw money from your credit account.

Chase Freedom Unlimited Visa® Credit Card Fees

Chase Freedom Unlimited Visa® in Questions and Answers

What is the Chase Freedom Unlimited Credit Score Needed?

While Chase doesn’t state a specific credit score that you need before applying for the Freedom Unlimited card, many sources showcase that you need at least a “good” score—670 or higher. 

What is the Chase Freedom Unlimited Credit Limit?

The minimum credit limit for the card is $500—but if you’re approved for the Visa Signature® version, you can get at least $5,000. The maximum limit is around $40,000. 

How does the card differ from the Chase Freedom Flex Visa® card? 

They are comparable cards—both provide 0% introductory APR rates and no annual fee. 

With the Chase Freedom Flex® card, though, cardholders can maximize their quarterly bonus cash back based on certain rotating categories. 

This is because the Chase Freedom Flex® card earns 5% cash back in recurring categories that are activated quarterly and then 1% back on all other transactions, which is the primary distinction between the two offers. 

Instead of rotating bonus categories, the Chase Freedom Unlimited® offers a greater cash back rate of 1.5% on all non-bonus purchases and a different sign-up bonus structure.

What income do you need for a Chase Freedom Unlimited card? 

Luckily for most consumers, there isn’t a set annual income requirement to be eligible for this credit card. 

However, Chase will look at other factors, including your credit score, any potential delinquencies you have, your debt-to-income ratio, and/or other hard inquiries on your report. 

Is it hard to get the Chase Freedom Unlimited Card? 

Some people may consider it difficult to get the Chase Freedom Unlimited card. 

This is due to their minimum credit score required and other factors that they utilize to see if you qualify for the card. 

However, if you have a decent score, and can make your payments on time, you should qualify for the card fairly easily. 

Can you get the Chase Freedom Unlimited Visa® with no credit?

No, you’d need at least a “good” credit score (670 or higher) to qualify for the card. 

If you don’t have credit, there are other cards that you may qualify for—but the Chase Freedom card is better for those who have started their credit history. 

Alternatives to the Chase Freedom Unlimited Visa®

The best alternatives for the Chase card are:

Blue Cash Preferred® Card from American Express

Why we like it

The American Express Blue Cash Preferred® Card offers 6%cash back at US supermarkets on up to $6,000 in annual expenditure (1% afterward), in addition to 6%on a few US streaming services, 3% at US gas stations, 3% on public transportation, and 1% on all other purchases. 

While the first year’s annual fee is free, it costs $95 every year after that. But this is a great choice for people who spend a lot of money on groceries. 

Pros

Cons

Citi® Double Cash Card

Why we like it

The Citi Double Cash card is a flat-rate cash back credit card. It has no annual charge and offers 2% cash back on all transactions (1% when you make the purchase and 1% when you pay for it).  

It does, however, have an APR rate that starts at 18.74%—which is quite high. And there are no promotions for spending a set sum throughout your trial term. 

Pros

Cons

Is Chase Freedom Unlimited Credit Card Good for Me?

If you want to carry only one card, Chase Freedom Unlimited® can help you save money by offering high cash back rates on the majority of your purchases. You could also benefit from the card’s 0% introductory APR if you need to transfer a balance or have large purchases that you wish to pay down over time.

You won’t be charged interest on purchases or balance transfers for 15 months as long as you pay the minimum amount due on time. If you continue using revolving credit after the promotional time, make an effort to pay it off before the cycle’s due date. 

But overall, we’d say that this card is decent—especially when compared to other standard unsecured cards.

Chase Freedom Unlimited Visa®—Useful Links