Chase Freedom Unlimited® Credit Card
- Earn unlimited 1.5% cash back on all purchases. Cash back is earned as Ultimate Rewards Points that can be transferred to other Chase accounts.
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- 15 months of 0% intro APR on new purchases.
- No annual fee.
- Rewards don’t transfer to airline miles or hotel points with this card alone.
- Higher interest rate than similar cards that don’t offer rewards.
At first glance, this looks like a typical cash back credit card with no annual fee. But as you’ll see, it has a somewhat hidden feature that can make it extremely valuable. The basics are that you earn 1.5% cash back on all purchases, with no limits. Chase is currently offering new applicants a $200 bonus after spending $500 on purchases in the first 3 months from account opening.
So what’s the hidden feature? Cash back is earned in the form of Chase Ultimate Rewards points, the same rewards that you get from other Chase cards like the Sapphire Preferred and Sapphire Reserve. These other cards allow you to transfer your rewards to airline miles and hotel points or redeem points directly for travel reservations. Since you can combine your points from your Freedom Unlimited with your other Chase cards, it’s a great complement to other cards that only earn one point per dollar on purchases with no bonus rewards. For example, I earn 1.5 points per dollar from my Freedom Unlimited, then transfer them to my Sapphire Reserve where I can redeem those points for 1.5 cents each towards travel reservations. That gives me a fantastic 2.25% return on my spending. If you're a fan of the Chase Ultimate Rewards program, then this card is a must.
