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Chase Freedom Unlimited Rewards Credit Card: BiggerPockets Review
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The Chase Freedom Unlimited credit card is a no-fuss rewards card that offers 1.5 percent cash back on all purchases. Rewards are easy to access and never expire, which makes it a great option even at the basic level. In addition, a hefty sign-up bonus for new cardholders—up to $800 cash back—makes this card even more attractive.
In addition, investors may want to sign up for a Chase Freedom Unlimited card if they intend to use Chase mortgage services in the future. Currently, Chase product customers (including credit card holders) may be eligible for a Chase Closing Guarantee. With this guarantee, Chase ensures an on-time closing, or a $2,500 credit is awarded to the mortgage applicant. (Restrictions apply.)
Quick facts
- APR: Zero percent for the first 15 months; variable 14.99 to 23.74 percent thereafter
- Annual fee: None
- Balance transfer fee: $5 or five percent, whichever is greater
- Cash advance fee: $10 or five percent, whichever is greater
- Foreign transaction fee: Three percent, based on the U.S. currency conversion
CREDIT REQUIREMENTS
Good or excellent credit is a requirement for acceptance with Chase Freedom Unlimited. Typically, that means a credit score of 680 or higher would be necessary, though some outlying reports indicate that cardmembers have been accepted with a score as low as 620. Creditworthiness has implications on APR rates following the introductory period.
PROS
- Simple, flat 1.5 percent cash back rewards on all purchases
- Five percent cash back on groceries for the first year (within limits)
- No annual fee
- Rewards can be combined with other Chase cards
- Zero percent APR introductory offer
CONS
- Limited timeframe for the five percent cash back deal
- Somewhat high foreign transaction fee
- After fifteen months, lower APR rates can be found elsewhere
The rewards
- Cash back
- Gift cards
- Travel booked through Chase
- Program-sponsored offerings made available to cardholders
- Amazon purchases (though each point is only worth .8 cents here)