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Chase Freedom Unlimited® is a no-annual fee credit card from Chase, which allows you to accrue highly valuable Chase's Ultimate Rewards® Points for all your eligible spendings (again, without any annual fee).
In this posting, I will describe major features of this business credit card, and then will explain one often misunderstood feature of this credit card.
1. Major Features
Chase Freedom Unlimited® Credit Card has the following major features.
1) Initial Offer: Additional 1.5% up to $20,000 spent
In the first year of your card membership, you will earn an additional 1.5% on all purchases up to $20,000 spent.
For example, if you use $20,000 in the first year of your account opening for the non-bonus category, you will get additional $300 cash back in addition to the regular $300 (=1.5% cash back.)
(But as I will explain in a moment, this $600 cash back will be in the form of 60,000 Ultimate Rewards Points, which then can be redeemed for $600 cash.)
For bonus categories (such as 5% cash back on travel purchased through Chase Travel), you will get extra. So, for example, you will get 6.5% cash back on travel purchased through Chase Travel (on up to $20,000 spent in the first year).
2) 5% cash back on travel purchased through Chase Travel
After your first year or $20,000 spent, you will enjoy 5% cash back on travel purchased through Chase Travel.
3) 3% cash back on drugstore purchases and dining at restaurants
After your first year or $20,000 spent, when you use your card at drugstores and restaurants (including takeout and eligible delivery service), you will earn total 3% cash back on your eligible purchases.
4) 1.5X earning on all purchases
For all other eligible purchases, you will earn 1.5% cash back (=1.5 total points) per dollar spent.
Sure, there are cards out there that will get you more points for certain specific categories. But do you have time to think through all available options in the market?
Put all your charges on Freedom Unlimited® Credit Card and focus on your more important tasks of the day. Over time, you will have better outcomes.
5) No annual fee
When it comes to a credit card, you need to think about long-term commitments. In this respect, getting a no-annual fee credit card is a better choice for most consumers, but especially for those who have relatively short credit history.
In this respect, Chase Credit Journey is also useful, for it helps you monitor your credit with free access to your latest score, real-time alerts, and more.
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2. Did you know?
Chase Freedom Unlimited® Credit Card is categorized as a cash back consumer card that offers a cash back based upon your everyday spendings.
But did you know that you actually earn Ultimate Rewards points (Chase's proprietary rewards points) rather than outright cash?
According to the offer details, “Cash Back Rewards” are actually “Ultimate Rewards points.”
In other words, you earn Ultimate Rewards Points, which of course has many more (and often more useful) options than a cash redemption.
For example, if you also hold Chase Sapphire Preferred® credit card, you can combine your Ultimate Rewards points from Chase Freedom Unlimited® card into those of Chase Sapphire Preferred® credit card. And because Sapphire Preferred® credit card has the feature of transferring points to leading frequent travel programs at full 1:1 value, you can transfer Ultimate Rewards points to Hyatt's World of Hyatt Program at 1:1 ratio.
Hyatt points are valuable, and you can redeem 40K Hyatt points for a one-night stay at Park Hyatt New York, which retails in the range between $800 and $1,000.
In short, Chase Freedom Unlimited® Credit Card has more potential than a simple cash back credit card.
