Chase Freedom Unlimited Review: Is This the Cash Back Card for You?

Chase Freedom Unlimited review

If you like the stability of a flat-rate rewards card or need some time to pay off a large purchase, then the Chase Freedom Unlimited card might be just the one for you.

The card is one of the best cash back cards on the market because of its high rewards rate, sign-up bonus, and other perks. Check out our Chase Freedom Unlimited review below to learn more.

Chase Freedom Unlimited review

Chase Freedom Unlimited is a solid cash back credit card. With it, you will:

  • Earn unlimited 1.5 percent cash back on every purchase.
  • Get a $150 sign-up bonus after you spend $500 in the first three months.
  • Get an extra $25 when you add your first authorized user and make your first purchase within this same three-month period.
  • Pay an introductory 0% APR for 15 months on purchases and balance transfers.
  • Have maximum redemption flexibility with cash back rewards.
  • No annual fee.

However, the Chase Freedom Unlimited card has its drawbacks. For instance:

  • A 1.5 percent cash back rate isn’t the best you can get.
  • After the 0% APR promotion is over, your interest rate may be above average.
  • If you want to transfer a balance, you’ll either pay $5 or five percent of the amount of each transfer, whichever is greater.
Check Out the Chase Freedom Unlimited Card Today

Chase Freedom Unlimited no-nonsense cash back

Several banks offer credit cards with high bonus rewards rates on certain spending categories. Most fall back to one percent of non-bonus spending. And for most people, that’s the majority of their spending.

With the Chase Freedom Unlimited card, you’ll get 1.5 percent on every purchase every day; no tricks or hacks necessary.

Technically, your rewards will show up as points instead of dollars. That’s because Chase gives you a few different options when redeeming your rewards, such as:

  • Account statement credits
  • Direct deposits to your checking account
  • Gift cards
  • Travel rewards
  • Amazon shopping credits

Just keep in mind you won’t get as much value when you use your rewards for shopping than if you do the other options.

Before you take the plunge with the Chase Freedom Unlimited, check out some other top cash back credit cards. There are some on the list that even pay two percent cash back.

Chase Freedom Unlimited bonuses worth up to $175

If the card’s cash back rate isn’t enough to entice you, consider the upfront incentives it offers. New cardholders will receive a $150 sign-up bonus after they spend $500 in the first three months.

What’s more, if you add an authorized user card and make a purchase during the same three-month period, you get an additional $25.

These bonuses are a great way for people who don’t spend a lot to earn a little extra cash. Many of the cards that offer bigger sign-up bonuses require thousands of dollars of spending rather than hundreds.

Some of the other perks the card offers include:

  • Zero liability fraud protection.
  • Purchase protection in case an item you purchase is damaged or stolen.
  • Price protection in case the price of an item you purchased drops.
  • Return protection in which you can be reimbursed for eligible items a store won’t take back within 90 days of purchase. This applies up to $250 per item, $1,000 per year.
  • Extended warranty protection which extends the time period of a U.S. manufacturer’s warranty by an additional year on items with eligible warranties of three years or less.

Save on interest with the Chase Freedom Unlimited

If you have a large purchase coming up or need to transfer a balance from a high-interest credit card, you’re in luck. With the Chase Freedom Unlimited card, you’ll get a full 15 months with no interest on new purchases and/or a balance transfer.

Just keep in mind that you need to make at least the minimum payment to keep the promotion. It’s also wise to pay off the full balance before the promotion ends. Otherwise, you may get stuck with a high interest rate on the leftover balance.

Review the Chase Freedom Unlimited Card Here

Chase Freedom Unlimited rates and fees

On the perks side of things, the Chase Freedom Unlimited card shines. It also has no annual fee. But if you plan to carry a balance or initiate a balance transfer, the rates and fees will eat into your rewards.

Average-to-high APR

Once the introductory 0% APR promotion is over, the card’s APR jumps to a 15.74% to 24.49% variable APR, depending on your creditworthiness (as of April 2017). In other words, carrying a balance can sting.

If you plan to do a cash advance with the card, know that your APR on those transactions will be 25.74% (as of April 2017). What’s more, there’s no grace period with cash advances like with regular purchases; interest begins accruing immediately.

Balance transfer fee

If you’re looking specifically to do a balance transfer, another card may suit you better. The Chase Freedom Unlimited charges five percent or $5, whichever is greater.

The thing is, most balance transfer cards charge only three percent, and there are a few that don’t charge a fee at all. Check out other top balance transfer cards before you apply.

Other fees

Here are the Chase Freedom Unlimited card’s other fees you should know about:

  • Foreign transaction fee of three percent
  • Cash advance fee of five percent or $10, whichever is greater
  • Late payment fee of up to $37, depending on your late balance amount
  • Return payment fee up to $37

Check to see if you’re pre-qualified

Chase doesn’t share information on its website about the card’s eligibility requirements. But you can check to see if you’re pre-qualified for the card. Chase will run a soft pull on your credit, which won’t ding your credit score.

Keep in mind that pre-qualified offers aren’t necessarily a commentary on your creditworthiness. Even if the card shows up in the results, there’s no guarantee you’ll get approved. And if you don’t see the card on the list, that’s also no guarantee that you won’t get approved.

Essentially, it’s just a way to check to see if you meet certain criteria that give you a good chance at getting approved.

Applying online for the Chase Freedom Unlimited

Chase’s application process for the Chase Freedom Unlimited card is clear-cut. Start by clicking on the “Apply Now” button on the card’s landing page. You’ll then start the application by filling out your name and address.

On the next page, you’ll be asked if you have a checking and/or savings account. Most major credit cards require that you have one or the other.

Other required information includes:

  • Employment status
  • Employer (if applicable)
  • Gross annual income
  • Residence status (own, rent, or other)
  • Monthly housing payment
  • Date of birth
  • Social Security number
  • Phone number
  • Email address

On the last page, you’ll be able to review the information you entered to make sure it’s correct. Once you submit the application, you’ll get one of two responses almost immediately. They’ll either approve your application automatically, or they’ll place the application in a pending status.

The pending status can mean a few different things:

  • The application was denied, in which case they will send a letter with a reason for the denial.
  • You’ve placed a fraud alert on one or more of your credit reports and Chase needs to call you to verify your identity.
  • For some reason, Chase needs to manually review your application. In this case, they’ll typically send a response by mail.

If your application does go to pending status, you can call Chase’s application status line at 1-888-338-2586.

Apply for the Chase Freedom Unlimited Card

Chase Freedom Unlimited customer service reviews

For the most part, current Chase Freedom Unlimited cardholders love the card. Credit Karma users have given it 4.6 out of 5 stars on average.

Several users were pleased with their credit limits and the card’s rewards program. Some users who started with low credit limits, however, noted that it was difficult to get a credit limit increase.

Contact Chase

If you have questions about the Chase Freedom Unlimited card you can reach their customer service team at 1-800-432-3117. If you already have a Chase credit card, you can also call the number on the back of the card.

You can also reach out to Chase’s support team through social media on Twitter @ChaseSupport, or the bank’s Facebook page.

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1 Includes AutoPay discount. Important Disclosures for SoFi.

SoFi Disclosures

  1. Terms and Conditions Apply: SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Finance Lender Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)
  2. Personal Loans: Fixed rates from 5.49% APR to 14.24% APR (with AutoPay). Variable rates from 5.29% APR to 11.44% APR (with AutoPay). SoFi rate ranges are current as of December 1, 2017 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 5.29% APR assumes current 1-month LIBOR rate of 1.34% plus 4.20% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

2 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Personal Loan Rate Disclosure: Fixed interest rates range from 5.99% – 16.24% (5.99% – 16.24% APR) based on applicable terms and presence of a co-applicant. Lowest rates shown are for eligible applicants, require a 3-year repayment term, and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
  2. Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with us at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, student loans or other personal loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate and Annual Percentage Rate (APR) disclosed in the Truth-In-Lending Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  3. Automatic Payment Benefit: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their Citizens Bank Personal Loan during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account two or more times within any 12-month period, the borrower will no longer be eligible for this discount.
7.39% - 29.99%$1,000 - $50,000Visit Upstart
5.29% - 14.24%1$5,000 - $100,000Visit SoFi
8.00% - 25.00%$5,000 - $35,000Visit Payoff
5.99% - 16.24%2$5,000 - $50,000Visit Citizens
5.99% - 35.89%$1,000 - $40,000Visit LendingClub
5.25% - 14.24%$2,000 - $50,000Visit Earnest
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Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.