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3.8/5.0 from 753 Offer Ratings
Foreign Transaction Fee
3% of each transaction in U.S. dollars
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Cash Advance Fee
Either $10 or 5% of the amount of each transaction, whichever is greater
The Chase Freedom Unlimited® is a decent option for people who want to use their card for more than a balance transfer or large purchase. You can benefit from a 0% intro period that provides you with a good amount of time to pay off your debt, in addition to a cash-back program that will earn you money on new purchases. People who want to maximize rewards early on can also take advantage of a sign-up bonus to earn more cash back.
This card isn’t designed for people who want to earn high flat-rate cash back, since the cash-back rate is below average. You can earn a higher cash-back rate from a variety of competing cash-back cards. Also, if you’re someone who needs a long period of time to complete a balance transfer or pay off a large purchase, you’re better off with a different card. Other balance transfer cards have intro periods as long as 18 or 21 months that can provide you with the time you need to rid yourself of debt.
The Chase Freedom Unlimited® offers a cash-back program: Unlimited 1.5% cash back on every purchase. This is an added perk on top of the balance transfer offer that can earn you rewards on new purchases. There is a sign-up bonus that can increase your rewards in the months after account opening. Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening. Most balance transfer cards don’t offer such bonuses, therefore this is a great feature of this card and a good way to earn more cash back. Plus, you only need to spend a small amount to attain the bonus.
This card charges a balance transfer fee: Either $5 or 5% of the amount of each transfer, whichever is greater. Although most balance transfer cards charge a transfer fee, you can find cards with more favorable fees like the Chase Slate® or BankAmericard® Credit Card, potentially allowing you to save hundreds of dollars. Regarding its rewards program, this card offers a low rate for purchases — Unlimited 1.5% cash back on every purchase. You can easily find other cash-back cards that offer a higher rewards rate, even paired with a longer 0% intro period, like the Citi® Double Cash Card – 18 month BT offer.
The Chase Freedom Unlimited® has few additional card benefits:
To benefit most from the Chase Freedom Unlimited®, make sure to transfer your balance within 60 days from account opening. Once your transfer is complete, make regular on-time payments with the goal of paying off your balance before the intro period ends. Do the same for any large purchases you may make. This way you successfully use the 0% intro APR to avoid interest. If you plan to use this card to earn rewards, don’t let the prospect of those rewards lure you into overspending. Be aware that the purchase APR is 16.49% - 25.24% variable once the 0% intro period ends. To take advantage of the sign-up bonus, make sure to spend the required amount in the given time period. Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
The total amount of your balance transfer request including fees and interest charges cannot exceed your available credit or $15,000, whichever is lower. Your balance transfer must be completed within 60 days from account opening in order to take advantage of the $0 intro balance transfer fee and 0% intro APR period.
To complete your balance transfer online, after logging in, click on “Accounts,” then the Chase balance transfer card listed. Click on the “Things you can do” drop-down menu in top right corner, choose “Transfer a balance” and select the Chase balance transfer offer you have been approved for. From there, enter your transfer information and review and submit. Your transfer may take one to three weeks, depending on how quickly the payee processes the transferred amount.
This card has a decent rewards program that will earn you a consistent rate: Unlimited 1.5% cash back on every purchase. Cash back earned can be redeemed for a statement credit, direct deposit, travel and gift cards, and to shop with points at Amazon. The rewards program doesn’t have rotating categories, so you don’t have to worry about activating rewards — you’ll earn the same rate on every purchase, every time you use your Chase Freedom Unlimited® card. There is also a great sign-up bonus: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening..
The Chase Freedom Unlimited® is different from the Chase Slate® in two key ways — the balance transfer fee and the rewards. If your primary goal is to complete a balance transfer, then the Chase Slate® shines. Chase Slate® offers an intro balance transfer fee: Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater. Meanwhile the Chase Freedom Unlimited® charges a transfer fee — Either $5 or 5% of the amount of each transfer, whichever is greater. The fee can cost you a good chunk of money, especially if you transfer a large balance. Therefore, people who want to complete a balance transfer are better off with the Chase Slate®.
On the other hand, people who plan on using their card for more than a balance transfer may benefit more from the Chase Freedom Unlimited®. This card offers a rewards program, while the Chase Slate® does not. If you’re someone who wants to earn rewards on new purchases and can accept the balance transfer fee, this card is the better option. See below for a breakdown of the key elements of both cards.
|Chase Freedom Unlimited®||Chase Slate®|
|Balance Transfer Terms||0% Intro APR for 15 months||0% Intro APR on Balance Transfers for 15 months|
|Balance Transfer Fee||Either $5 or 5% of the amount of each transfer, whichever is greater||Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.|
|Ongoing APR||0% Intro APR for 15 months||16.49% - 25.24% Variable|
|Transfer Period||60 days from account opening||60 days from account opening|
|Rewards||Unlimited 1.5% cash back on every purchase||Non-rewards card|
The Chase Freedom Unlimited® is an OK option for people looking to complete a balance transfer with the added perk of earning cash back. However, you can do better with competing cards that offer longer balance transfer periods, waive the transfer fee and have more robust cash-back programs.
Editorial Disclaimer: This content is not provided by the bank advertiser. Opinions expressed here are author's alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer. This site may be compensated through the issuer's Affiliate Program.
Unlimited 1.5% cash back on every purchase
$0 Fraud Liability
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753 Total Ratings