A new welcome bonus has just been introduced on the Chase Freedom Unlimited®, and for many this could prove to be valuable, especially for a no annual fee card.
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Earn an extra 1.5x points with Freedom Unlimited bonus
The Chase Freedom Unlimited is offering a new welcome bonus that’s a bit different than the ones we typically see. With this bonus, you can earn an additional 1.5x points (or 1.5% cash back) on the first $20,000 spent within the first year as a cardmember:
- Given that the card ordinarily offers a minimum of 1.5x points (or 1.5% cash back) per dollar spent, this means that the card would offer a minimum of 3x points (or 3% cash back) for the first $20,000 spent
- In other words, if you spent $20,000 you’d earn a total of 60,000 points (or $600 cash back), which is 30,000 points (or $300 cash back) more than you’d otherwise earn
Chase’s typical application rules apply, including the 5/24 rule. Note that the Freedom Unlimited is considered a separate product from the Chase Freedom FlexSM Credit Card (review), so you’re eligible for the bonus even if you have that card. You’re eligible for the bonus on the Freedom Unlimited as long as you don’t currently have the Freedom Unlimited, and haven’t received a new cardmember bonus on it in the past 24 months.
Why the Freedom Unlimited is awesome
Having the no annual fee Chase Freedom Unlimited should be a no-brainer as part of a bigger Chase Ultimate Rewards strategy. The Chase Freedom Unlimited is the best Chase credit card for everyday spending, as it offers the following:
- 3x points (or 3% cash back) at drugstores
- 3x points (or 3% cash back) at restaurants, including takeout and eligible delivery services
- 1.5x points (or 1.5% cash back) on all other purchases
That doesn’t factor in the welcome bonus, meaning you could be earning 4.5x points at drugstores and restaurants, and 3x points on other purchases.
As you can probably tell, this card is marketed as offering cash back. However, there’s another way I prefer to use the card. In conjunction with the Chase Sapphire Preferred® Card (review), Chase Sapphire Reserve® Card (review), or Ink Business Preferred® Credit Card (review), points earned on this card can be converted into Ultimate Rewards points, and be transferred to the Ultimate Rewards airline and hotel partners.
I value Ultimate Rewards points at 1.7 cents each, which to me increases the value of these rewards by 70%.
Bottom line
The Chase Freedom Unlimited is offering a new welcome bonus of an extra 1.5x points (or 1.5% cash back) for the first $20,000 spent within the first 12 months. If you’re involved in the Chase Ultimate Rewards ecosystem and you can achieve that spending amount, then it could make a lot of sense to pick up this card.
Anyone plan to pick up the Chase Freedom Unlimited with this new bonus offer?
If I do a product change from an existing Chase account (Chase Southwest) to this card, am I still eligible for this bonus?
Generally speaking, you are not eligible for sign up bonuses when product changing.
Also, Chase requires you to stay in the same 'family' of cards, i.e. you could product change from another Freedom card - not from an airline card.