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Chase announces changes to Chase Freedom Unlimited® cashback offer
You'll find bigger earnings with this new offer.
Hot on the heels of their updates to the Chase Sapphire Preferred® Card, Chase has made changes to the Chase Freedom Unlimited® on April 5, 2019.
Our pick for a first-year cashback offer
Chase Freedom Unlimited®Read more
Now, when you sign up for the Chase Freedom Unlimited®, you’ll earn 3% cash back on all purchases in your first year up to $20,000 spent. After that, you’ll earn 1.5% cash back on all purchases.
|Old offer||New offer|
|Signup bonus||$150 cash back after you spend $500 on purchases within your first three months of account opening.||3% cash back on all purchases up to $20,000 in total purchases within your first year, then 1.5%.|
Is the new signup bonus a better value?
Yes. Maxing out the total $20,000 in spending will result in $600 cash back or 60,000 points. However, even if you fall short of the max value this offer is still better than before, and better than what most comparable cashback cards offer.
Is this card worth signing up for?
Yes. Cashback offer aside, this Chase card has many benefits, including no annual fee and an introductory balance transfer and purchase APR of 0% for the first 15 months, before reverting to a 16.99% to 25.74% variable.
This card also has strong long-term value when it comes to its Ultimate Rewards program, especially when paired with other Chase cards.
However, the new offer requirements mean you might need a little planning to make the most of its potential value. To earn the equivalent cash back of the old signup bonus, you’ll need to spend $10,000 within the first year. That’s $150 cash back you would earn off the base cashback bonus and $150 from the additional 1.5% cashback offer.
Considering you have a full year to take advantage of this offer, this is pretty reasonable. Any purchases you make after that $10,000 is a pure upgrade over the prior signup bonus.
Rather than trying to earn the welcome offer as quickly as possible, measured and planned spending can help you get the most out of the offer without breaking the bank.
Alternate signup bonus options
If you’re looking for a welcome offer with similar earnings at a faster pace, consider the Chase Sapphire Preferred® Card. You can earn the same number of points as the Chase Freedom Unlimited® when you spend $4,000 within the first 3 months of account opening.
The Chase Freedom Unlimited® remains a solid choice for savings thanks to a flat cashback rate and an intro APR on balance transfers and purchases. If you’re a prudent spender, the upcoming changes to the cashback offer mean you’ll have new earning opportunities as well.
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