Is the Chase Freedom Unlimited Credit Card worth it? | April 2018

Review: The Chase Freedom® Unlimited™ credit card – April 2018

Get a $150 signup bonus and earn unlimited cash back with this no-annual-fee card.

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  • Get this card if… you’re looking for cash back and no annual fees.
  • Pick something else if…you plan to use your card on frequent overseas trips.
  • Good to excellent credit score of 690 to 850 recommended.

The no-annual-fee Freedom Unlimited Credit Card offers multiple benefits beyond a generous 0% intro APR for the 15 billing cycles that comes with even the basic Chase Freedom card. You’ll also get that card’s $150 signup bonus when you spend $500 in the first three months. But your unlimited cash back for everyday purchases is sweetened to 1.5%.

Product NameThe Chase Freedom® Unlimited™ credit card
Intro APR for Balance Transfer0% Intro APR for 15 billing cycles (with whichever is greater, $5 or 5% balance transfer fee)
Balance Transfer Rate (not intro)16.24% to 24.99% variable
APR for Purchases ( Purchase Rate )16.24% to 24.99% variable
Annual fee$0
Cash Advance Rate26.24% variable
Card TypeVisa
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 21 days
Returned Payment Fee$37
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Minimum Interest$0
Minimum Credit ScoreFair (660-699)
Minimum Age18 years of age
Annual fee$0
Returned Payment Fee$37
Late Payment Fee$37
Cash Advance Fee$10 or 5% of the amount of each transaction, whichever is greater

The Basics

The Chase Freedom Unlimited Credit Card can work well for people who want to earn cash back and pay no annual fees. A 0% intro APR for the 15 billing cycles from account opening applies on purchases and balance transfers, which can lead to further savings. You can redeem your 1.5% cash back on all purchases for statement credit, deposit or even gift cards and experiences through Chase Ultimate Rewards.

The Perks

The Chase Freedom Unlimited credit card gives you good rewards for a no-fee card, with other benefits that work in its favor.

  • $150 signup cash bonus. Spend $500 on purchases in the first three months from account opening, and you’ll get $150. Add an authorized user for spending in the same three-month period, and you could earn an additional $25.
  • Long 0% intro APR. Pay no interest on purchases and balance transfers in the 15 billing cycles from account opening. After the intro period, your APR will vary from 16.24% to 24.99% variable, depending on your creditworthiness.
  • Unlimited cash back. Earn 1.5x cash back rewards on everyday spending, equating to $0.015 for every dollar. Accumulated points don’t expire as long as your account remains in good standing.
  • Cash back redemption options. Redeem your points for statement credits, for bank deposits or through Chase Ultimate Rewards for gift cards, travel and experiences.
  • Security and protection. Chase covers cardholders with zero-liability, extended warranty, and purchase and price protection.

What to watch out for

Chase Freedom Unlimited is a decent no-annual-fee card with just a few elements you’ll want to watch out for.

  • Foreign transaction fees. If you use this Chase credit card to shop overseas, you pay a fee equal to 3% of each transaction.
  • Balance transfer fee. While you won’t pay interest on balance transfers in your first 15 months, you are still on the hook for a fee of whichever is greater, $5 or 5. This means that if you transfer $1,000, you’ll pay $50 in fees.

What you should know before applying

Always consider your options and your financial situation before you apply for a credit card.

You’re eligible to apply for the Chase Freedom Unlimited card if:

  • You’re at least 18 years old.
  • You’re a US citizen or permanent resident.
  • You have a valid Social Security number.

What credit score should I have?

A good to excellent credit score of 690 or higher will increase the chances of your application’s approval.

How do I apply for the Chase Freedom Unlimited Credit Card?

1. Go to the Chase Freedom Credit Card website and click Apply Now.

step 1 Chase Freedom Unlimited Credit Card review
2. Enter your personal contact information and click Next.

step 2 Chase Freedom Unlimited Credit Card review
3. Enter your financial information — including your monthly salary and rental or mortgage payment — and click Next.

step 3 Chase Freedom Unlimited Credit Card review
4. Enter additional details — including your Social Security number and mother’s maiden name — as requested and click Next.

step 4 Chase Freedom Unlimited Credit Card review
5. Review your information and submit your application.

How long will it take for me to be approved?

You typically find out about your application’s status soon after you submit it online. If approved, you’ll get a letter in the mail within 10 business days.

I got the card. Now what?

After reviewing your application, Chase will issue you either a Signature or Platinum card. Once you receive your card, use it responsibly to avoid paying unnecessary fees, penalties or interest.

  • Manage your account online. Register with Chase Online to keep an eye on your spending and payments.
  • Steer clear of penalties. Late payments and returned checks can attract fees of up to $37.00.
  • Limit its use overseas. You pay foreign transaction fees each time you use this card outside the US. Learn more about cards that come with no foreign transaction fees.
  • Contact customer service. Don’t hesitate to contact Chase if you need any account related information.

Bottom line

The no-annual-fee Chase Freedom Unlimited Credit Card’s intro APR offer on purchases and balance transfers can lead to noticeable savings. If you want a card that comes with a more robust rewards program, look into other rewards credit cards you could qualify for.

Common questions about the Chase Freedom Unlimited

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