When looking for a credit card that offers excellent rewards and flexibility, the Chase Freedom Unlimited® stands out as an attractive option. It provides unlimited cashback, a 0% introductory APR period, and no annual fee, making it ideal for everyday purchases and travel expenses.
With a variety of benefits, including higher cashback rates on specific categories and no expiration on rewards, this card is designed to maximize value. If you are considering a new credit card, understanding its features, advantages, and how to apply can help you decide if it’s the right fit.
Key information about the credit card
How does the annual fee work?
The Chase Freedom Unlimited® comes with a $0 annual fee, which is a significant advantage for cardholders who want to avoid unnecessary costs. Many credit cards require an annual payment to maintain access to benefits, but with this card, you can enjoy all its rewards without paying a yearly fee. This feature makes it a cost-effective option for those who want to maximize cashback without additional expenses.
How is the credit limit determined?
The credit limit for the Chase Freedom Unlimited® is determined based on several factors, including your credit score, income, and existing debts. Chase evaluates your creditworthiness to establish a suitable limit that aligns with your financial profile. Unlike secured or prepaid cards, where the user deposits funds to set their limit, this is a traditional unsecured credit card, meaning the bank decides the limit based on financial analysis.
Advantages of the credit card
- Unlimited cashback: Earn 1.5% cashback on all purchases, with no caps or restrictions.
- Higher rewards on select categories: Get 5% cashback on travel booked through Chase TravelSM, 3% on dining and drugstores, and 1.5% on everything else.
- No expiration on rewards: Your cashback never expires as long as your account remains open.
- 0% introductory APR: Enjoy 0% APR for 15 months on purchases and balance transfers.
- No annual fee: Keep your card without worrying about yearly maintenance costs.
- Sign-up bonus: Receive a $200 bonus after spending $500 in the first 3 months.
- Referral bonus: Earn up to $500 per year by referring friends who get approved for Chase Freedom® credit cards.
Standout advantage
One of the biggest highlights of the Chase Freedom Unlimited® is its enhanced cashback structure. Unlike many other credit cards that limit cashback to specific categories or impose spending caps, this card offers at least 1.5% on every purchase with higher rates for travel, dining, and drugstore expenses. This makes it an exceptional choice for everyday spending and planned expenses, ensuring you maximize your rewards with every transaction.
Disadvantages
- High APR after the introductory period: Once the 15-month 0% APR period ends, the variable APR ranges from 19.49% to 28.24%.
- Foreign transaction fee: Charges 3% on international purchases, which may not be ideal for frequent travelers.
- No bonus categories beyond travel, dining, and drugstores: Some cards offer rotating categories with higher cashback rates.
- Balance transfer fee: While balance transfers are allowed, there is a fee for each transfer, which could reduce potential savings.
A standout disadvantage
One of the main drawbacks of the Chase Freedom Unlimited® is its foreign transaction fee. When making purchases outside the United States, you’ll be charged 3% per transaction, which can add up quickly if you travel frequently. For international travelers, a card with no foreign transaction fees would be a better option to avoid additional costs on purchases made abroad.
Who can apply for this card?
To apply for the Chase Freedom Unlimited®, you need to meet certain requirements. Applicants must be at least 18 years old (or 19 in Alabama and Nebraska). A good to excellent credit score (typically 670 or higher) is recommended for approval, as Chase assesses applicants’ financial backgrounds to determine eligibility.
The card is not available for those who have received a Chase Freedom Unlimited® new cardmember bonus in the last 24 months. Additionally, Chase considers your credit history, income level, and debt-to-income ratio to decide approval. While the card is not designed for people with bad credit or no credit history, individuals with an established financial record have a higher chance of approval.
How to apply for the Chase Freedom Unlimited® Credit Card
For the website
To apply for the Chase Freedom Unlimited® card online, visit the official Chase website and locate the application page for this card. Once there, you’ll need to provide personal and financial details, including your full name, Social Security number, date of birth, address, income information, and employment status. Chase will also ask for housing details, such as whether you rent or own your home, along with your monthly housing payment.
After submitting the application, Chase will review your financial history and make a decision. If approved, you’ll receive a confirmation email, and your new card should arrive within 7 to 10 business days. Some applicants receive an instant approval or denial, while others may need to provide additional documentation before a final decision is made.
Through the app
For those who prefer mobile banking, Chase allows applications through its official mobile app. To get started, download the Chase app from the App Store or Google Play, then sign in or create an account. Navigate to the credit card section and select Chase Freedom Unlimited®.
The application process is similar to the website, requiring you to fill out your personal and financial details. One benefit of applying through the app is that you can track your application status in real-time. If you are already a Chase customer, the app may auto-fill certain details to speed up the process. Once your application is reviewed and approved, your card will be mailed to you within 7 to 10 business days.
At the branch
If you prefer an in-person application, you can visit a Chase branch to apply for the Chase Freedom Unlimited® card. Bring a government-issued ID, proof of income, and any other required documents. A Chase representative will guide you through the process, explaining the benefits of the card and answering any questions you may have.
Applying in person allows you to receive immediate assistance if you need clarification on any part of the application. Additionally, if you already have an account with Chase, the representative might provide personalized recommendations based on your financial profile. After completing the application, you’ll be notified of your approval status, and if approved, your new credit card will arrive in the mail within 7 to 10 business days.
