Our evaluations and opinions are not influenced by our advertising relationships, but we may earn a commission from our partners’ links. This content is created independently from TIME’s editorial staff. Learn more.
The card_name has abandoned its old, tired, traditional welcome bonus for something more exciting. The caveat is that you’ll have to wait a year before you earn it.
Chase Freedom Unlimited®
Chase Freedom Unlimited®
Pros & Cons
Pros:
- SPECIAL OFFER: Unlimited Matched Cash Back. Chase will automatically match all the cash back you earned at the end of your first year! There is no limit to how much cash back you can earn.
- 1.5% cash back on all purchases.
- No annual fee.
- 0% intro APR on purchases and balance transfers for 15 months.
- Additional 5x cash back on travel purchased through the Ultimate Rewards program, 3x on dining, and 3x on drugstore purchases.
- Extra 1.5% earned the first year up to $20,000.
Cons:
- 5% cash advance and balance transfer fees.
- 3% foreign transaction fee.
- Only available for cardholders with a good credit score.
This no-annual-fee-credit card currently offers unlimited matched cash back during your first year. This can translate into several hundred dollars more than the card’s previous bonus of $200 after meeting minimum spending requirements. The more you spend on the card, the more bonus rewards you’ll earn—up to 10% for select expenses.
Here’s everything you need to know about this unprecedented new bonus.
Chase Freedom Unlimited offers (potentially) its best bonus ever
The card_name was already an excellent no-annual-fee rewards credit card with solid benefits and an above-average earning potential (read our Chase Freedom Unlimited review for the full details). Now, with this new bonus, you can receive twice the regular earning rate during the first 12 months of card membership. Here’s what you’ll get:
- 10% back for travel purchases through the Chase Travel Portal (normally 5%).
- 6% back on dining and at drugstores (normally 3%).
- 3% back for all other eligible purchases (normally 1.5%).
Keep in mind that your earnings won’t be matched until after the first 12 months. For example, let’s say you spend an average of $350 per month on dining, $300 per month on travel, and $1,200 per month on all other expenses.
You’d earn $43.50 per month, followed by a whopping $522 bonus at the end of 12 months.
Pair the Chase Freedom Unlimited with other Chase cards to unlock your rewards potential
It’s worth noting that, while Chase advertises the card_name as a cash back credit card, it actually earns Chase Ultimate Rewards® points, not cash. You can redeem these points in myriad ways, such as for cash at a rate of 1 cent each, for gift cards at a rate of 1 cent each (usually), or on your Amazon cart at a rate of 0.8 cents each.
However, you can also transfer the points you earn with the card_name to airline and hotel loyalty programs for free travel if you’ve also got one of the following Ultimate Rewards–earning cards:
For example, you could transfer 25,000 Chase points to Hyatt for five nights at a low-level Hyatt hotel, which often costs more than $100 per night. This would net you more than $500 for your points—twice the value you’d receive if you had simply redeemed those 25,000 points for cash.
Do you qualify?
This cash-back match is only available for new applicants. If you’ve already got the card, the rewards you earn won’t be doubled. However, it’s possible to apply for the card again by “product changing” your current card_name to another card, such as the Chase Freedom Flex℠ or the card_name. Then, after waiting a few days, you can apply for a new card_name to access this current bonus.
Additionally, Chase enforces an application restriction known as the “5/24 rule.” If you’ve opened five or more credit cards from any bank in the past 24 months (excluding most small business credit cards), you won’t be eligible to open the card_name.
Alternative cards
If you don’t qualify for the card_name—or if the card just doesn’t sound like your cup of tea—you still have other options.
The no-annual-fee Chase Freedom Flex earns 5% cash back on rotating bonus categories (up to $1,500 in spending each quarter, then 1%) after you activate. Currently, the card’s bonus categories are PayPal, wholesale clubs, and select charities. You’ll also earn:
- 5% back on travel purchased through the Chase Travel Portal.
- 3% back on dining and at drugstores.
- 1% back for all other eligible purchases.
The card also comes with a $200 welcome bonus after you spend $500 on purchases within the first three months from account opening.
Even better, the Chase Freedom Flex earns the same rewards currency as the Chase Freedom Unlimited: Chase Ultimate Rewards points. So if you hold an eligible Ultimate Rewards–earning card (such as the Chase Sapphire Preferred), you can convert your spoils into airline miles and hotel points for huge value.
TIME Stamp: Double your reward points for a year with Chase Freedom Unlimited’s new welcome bonus
The card_name comes with its most generous bonus ever: It’ll match the cash back you earn during your first 12 months (in the form of Chase Ultimate Rewards points). Depending on how much you spend, this could result in several hundred dollars in bonus rewards—or even thousands of dollars if you know the best ways to use the points.
Chase Freedom Unlimited®
Chase Freedom Unlimited®
Pros & Cons
Pros:
- SPECIAL OFFER: Unlimited Matched Cash Back. Chase will automatically match all the cash back you earned at the end of your first year! There is no limit to how much cash back you can earn.
- 1.5% cash back on all purchases.
- No annual fee.
- 0% intro APR on purchases and balance transfers for 15 months.
- Additional 5x cash back on travel purchased through the Ultimate Rewards program, 3x on dining, and 3x on drugstore purchases.
- Extra 1.5% earned the first year up to $20,000.
Cons:
- 5% cash advance and balance transfer fees.
- 3% foreign transaction fee.
- Only available for cardholders with a good credit score.
The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.