What is the Freedom Unlimited card?
It is one of the No-Annual fee point earning cash-back cards offered by Chase for which you can apply and get approved as long as you are under the Chase 5/24 rule. For many Chase card holders, this constitutes as one of three in the Chase Trifecta.
Sign-up bonus of $200 (20,000 Bonus Points) on spending $500 in the first three months of receiving the card as well as 1.5X earn rate on spend.
For example, if you spent $500 in the first 90 days, you will receive 750 points (500 x 1.5) plus 20,000 points totalling 20,750 Bonus Points.
Additionally, due to the COVID-19 pandemic, Chase has introduced a 1 year benefit for cardholders on grocery purchases. If you apply using the link above, you will receive 5x points per dollar spent upto $12,000 in grocery (only) expenses for one year from the date of approval
If you max out the $12,000 spend that is earning an additional 60,000 UR points bringing the total to 80,750 bonus points.
The Bonus Points can be directly redeemed for cashback at a 1 BP = ¢1 rate or be transferred to the Chase Sapphire cards for 1.25/1.5X redemption rates towards travel.
Is it for you?
It comes down to how you spend and what you spend on. If you wish to get a universal 1.5x back in everything plus 5x on groceries based on organic spend (money you would be spending otherwise), get this.
Do not stretch yourself by spending more at grocery stores (NOT WALMART/TARGET) unless you know you can pay off the balances immediately.
Why to even bother with the Unlimited card?
1. Huge sign up bonus of $200 back on $500 spend.
2. 5x back on $12,000 grocery expenses.
3. Unmatched Chase Freedom benefits.
4. Flexibility to point pool and transfer to partners (Read Chase Trifecta).
5. Can be product changed to a freedom card after earning bonus if you no longer see value in the 1.5X earn-rate
Choose what’s best for you. We would advise you to plan how you intend to use the card before applying.
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Do not apply for any credit cards card if you are currently experiencing financial constraints or are in debt.