Get Cash Back for Every Purchase: Chase Freedom Unlimited Review
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Chase's latest offering is a cash back card that offers unlimited 1.5% cash back on every purchase. If you're looking for a simple credit card from an established issuer, the Chase Freedom UnlimitedSM is definitely worth considering.
Why We Like This Card
- $150 Bonus
- Unlimited 1.5% cash back
How This Card Works
This card awards unlimited 1.5% cash back on every purchase - it's automatic! If you find managing quarterly rotating categories or special purchase categories to be a hassle, you’ll appreciate the convenience of a flat rate cash back card like this one. There is no annual fee for this card.
See also: Best Cash Back Credit Cards
Cash Bonus offer. Earn a $150 bonus after you spend $500 on purchases in your first 3 months from account opening.
See also: Best Cards Offering Sign-Up Bonus Cash
0% Intro APR for 15 months. You also get 0% Intro APR for 15 months from account opening on purchases and balance transfers. After the intro period, a variable APR of 15.49%-24.24% applies. The balance transfer fee is 5% of the amount of each transfer or $5 minimum.
You can request your cash back at any time, without any minimum requirements for statement credit or electronic deposit into a checking or savings accounts. There are also opportunities to redeem for gift cards, travel, or merchandise.
Purchase protection. Purchases you make with the card are covered for 120 days against damage or theft up to $500 per claim and $50,000 per account.
Price protection. If your purchase is advertised in the U.S. in print or online within 90 days at a lower price, you can receive reimbursement of the price difference, up to $500 per item, $2,500 per year.
- $0 Annual Fee
- 0% Intro APR for 15 months on purchases and balance transfers. After the intro period, a variable APR of 15.49%-24.24%.
- Balance transfer fee is 5% of the amount transferred, $5 minimum
- 3% Foreign Transaction Fee
Low rate of rewards. Although the flat rate of 1.5% cash back is convenient and easy, if the majority of your spending falls into a specific category like gas or groceries, you can earn more rewards with cards that focus on those specific categories. For example, the Blue Cash Preferred Card from American Express offers 6% cash back on purchases at U.S. supermarkets (up to $6,000 in purchases per year), and 3% cash back at U.S. gas stations. (See also: Best Credit Cards for Groceries and 5 Best Gas Rewards Credit Cards)
Foreign transaction fee. There is a foreign transaction fee of 3%, which is going to add up if you frequently travel outside of the United States and cancel out any cash back you earn from your purchases. If you need a card for foreign transactions, you’re better off with a credit card that does not charge a foreign transaction fee. (See also: Best Credit Cards without Foreign Transaction Fees)
Barclaycard CashForward: The Barclaycard CashForward™ World MasterCard® offers 1.5% unlimited cash back on every purchase. They have a bonus offer for $100 after spending $500 within the first 90 days. Cardholders also get a 5% redemption bonus (to use toward the next redemption). Minimum redemption amount is $50. There is no annual fee.
Capital One Quicksilver: The Capital One® Quicksilver® Cash Rewards card offers unlimited 1.5% cash back as well, with a one-time $100 cash bonus after spending $500 within 3 months of approval. Rewards don't expire and can be redeemed in any amount. This card has no annual fee and no foreign transaction fees.
Who This Card Is Best For
This card is best for those who prefer to avoid the hassle of changing categories or special purchase requirements and value the opportunity to easily earn and redeem a flat rate of cash back when using the card. It has a nice cash bonus for new cardholders as well as a long 0% APR for purchases and balance transfers. It is also best if your purchases vary from month to month and, because of the 3% foreign transaction fee, are primarily domestic.