Chase Freedom Unlimited Sign Up Bonus: Extra 1.5% Everything

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The Chase Freedom Unlimited card now offers an additional 1.5% cash back on everything you buy (up to $20,000 spent in the first year). The maximum you can earn from this offer is 30,000 points over the first 12 months of card membership.

This bonus is applied in addition to the card’s regular cash back rates, effectively boosting all rewards for the first year.

Here’s how it breaks down:

• 6.5% cash back (5% + 1.5%) on travel purchased through Chase Travel
• 4.5% cash back (3% + 1.5%) on dining at restaurants, including takeout and eligible delivery services
• 4.5% cash back (3% + 1.5%) on drugstore purchases
• 3% cash back (1.5% + 1.5%) on all other purchases

Additional benefits include:

• No annual fee
• 0% introductory APR for 15 months on purchases and balance transfers (after that, 20.49% – 29.24% variable APR)

The new offer is a nice upgrade from the previous 20,000 bonus points offer.

Get full details of the offer. 

Eligibility Criteria for Chase Freedom Unlimited

Here are a few things to keep in mind in terms of eligibility:

• You should have a credit score above 670 to apply for the Chase Freedom Unlimited. 
• You’re not eligible to receive the bonus for this card if you have received a new card member bonus for Chase Freedom Unlimited within the past 24 months.
• Chase generally does not approve applicants for new credit cards if they have opened five or more credit card accounts with any bank within the past 24 months (known as the 5/24 rule).

Because this card has no annual fee, we list it as one of our favorite starter credit cards. 

How to Maximize the Signup Bonus

Maximizing your signup bonus now revolves around utilizing the additional 1.5% cash back on up to $20,000 spent in the first year. This translates to an average monthly spending of about $1,667.

To fully capitalize on this offer, aim to reach the $20,000 spending limit within your first year. Remember, you’ll earn the most points by focusing on the bonus categories: 6.5% on travel through Chase, 4.5% on dining and drugstores, and 3% on all other purchases.

If the Chase Freedom Unlimited is your only credit card, your redemption options are somewhat limited. In this case, your points are typically worth 1 cent each, redeemable for options like statement credits or gift cards.

However, Chase occasionally offers opportunities to increase the value of your points through special deals and discounts with retail partners. These promotions can make your points worth more than one cent each.

To maximize the long-term value of your Chase Freedom Unlimited card, consider pairing it with a premium card like the Chase Sapphire Reserve. By transferring points from your Unlimited to a Reserve, you can leverage them for travel purchases through the Chase Ultimate Rewards program at a higher value.

For instance, the Chase Sapphire Reserve allows you to redeem Chase Ultimate Rewards points at 1.5 cents per point when used for travel through the Chase Travel Portal. This means the potential points you could earn with the Chase Freedom Unlimited in your first year would be worth 50% more.

You can further enhance the value of your Chase Freedom Unlimited points by combining them with another Chase card that offers access to transfer partners (such as the Chase Sapphire Reserve, Chase Sapphire Preferred, or Chase Ink Business Preferred). This strategy allows for potentially even higher value redemptions – for example, transferring points to Hyatt.

For more on maximizing Chase points with different credit cards, see our post on the Chase Trifecta. And if you’re new to travel rewards, check out our travel hacking series for beginners. 

Pros and Cons of the Chase Freedom Unlimited

Here are the essential pros and cons to help you make an informed decision about whether to apply:

• Enhanced cash-back rates for the first year. Earn an additional 1.5% cash back on everything you buy (up to $20,000 spent in the first year), on top of the regular rates.
• High earning potential. Get 6.5% cash back on travel purchased through Chase, 4.5% on dining and drugstores, and 3% on all other purchases for the first year (up to $20,000 spent).
• No spending caps after the first year. After the initial bonus period, enjoy unlimited 5% on travel through Chase, 3% on dining and drugstores, and 1.5% on all other purchases.
• Introductory 0% APR period. Enjoy 0% APR for 15 months on purchases and balance transfers.
• No annual fee. The card comes without an annual fee, making it a great keeper card to build your credit score.
• Reward flexibility. Cash-back rewards don’t expire as long as the account is open, with no minimum for redemption.

Cons:

• Spending threshold for maximum bonus. To fully capitalize on the offer, you need to spend $20,000 in the first year.
• Balance transfer fee. A fee of $5 or 5% of each transfer, whichever is greater, applies.
• Foreign transaction fees. A 3% fee applies for international transactions.
• Good credit requirement. At least a 670 minimum credit score is recommended before applying.
• Time-limited enhanced rates. The boosted cash-back rates only apply to the first $20,000 spent in the first year.

Frequently Asked Questions

Final Thoughts

I’m a big fan of the Chase Freedom Unlimited card. It’s one of the oldest cards I have, which helps build credit history. Plus, I consistently use it to build my Chase Ultimate Rewards balance, which I primarily transfer to Hyatt (as I also have the Chase Sapphire Reserve). 

It’s an excellent choice as a starter card for building credit and a valuable tool for anyone interested in travel rewards. Of course, consider the Chase 5/24 rule if you’ve recently applied for multiple credit cards.

Click here to learn how to apply.

R.J. Weiss

R.J. Weiss, founder of The Ways To Wealth, has been a CERTIFIED FINANCIAL PLANNER™ since 2010. Holding a B.A. in finance and having completed the CFP® certification curriculum at The American College, R.J. combines formal education with a deep commitment to providing unbiased financial insights. Recognized as a trusted authority in the financial realm, his expertise is highlighted in major publications like Business Insider, New York Times, and Forbes.