What the Chase Freedom Unlimited card does
The Chase Freedom Unlimited is a cash back card that returns 1.5% on every purchase you make, with no bonus categories to track or rotating quarterly rewards. You earn the same rate whether you're buying groceries, paying for gas, or booking a flight. The card has no annual fee, so the cash back you earn is not offset by membership costs.
Cash back accumulates in your account and can be redeemed as a statement credit, transferred to another Chase account, or deposited directly into a bank account. If you also have a Chase Sapphire Preferred or Sapphire Reserve card, you can transfer your Freedom Unlimited cash back to those cards and use it for travel purchases at a higher redemption value — though that step is optional and not required to use the card.
Key Takeaways
- The card earns 1.5% cash back on all purchases with no annual fee, making it straightforward for people who don't want to track bonus categories.
- Cash back can be redeemed as a statement credit, deposited to a bank account, or transferred to other Chase cards without expiration.
- The card requires good to excellent credit (typically a score of 670 or higher) to be approved, though Chase does not publish exact score requirements.
- An introductory 0% APR period on purchases and balance transfers is available for a limited time after opening the account, after which the regular variable APR applies.
How the cash back earning works in practice
Every dollar you spend earns 1.5 cents in cash back, whether the purchase is $5 or $500. There are no spending caps, no quarterly set up steps, and no categories that earn less. This simplicity is the card's main appeal — you don't have to remember which categories are active this quarter or whether a particular merchant counts as a grocery store or a gas station.
Cash back posts to your account monthly and begins accumulating when ready. You can check your balance in the Chase mobile app or online portal. The cash back does not expire as long as your account remains open, so you can let it build if you're saving toward a larger redemption.
Introductory APR and how it affects your balance
New cardholders receive an introductory 0% annual percentage rate (APR) on purchases and balance transfers for a set period — typically 12 to 21 months depending on the current offer. This means if you carry a balance during that window, you pay no interest on it. Once the introductory period ends, the regular variable APR takes over, and interest accrues on any remaining balance.
The introductory offer is most useful if you plan to transfer an existing balance from another card and pay it down over several months without interest charges. If you carry a balance after the introductory period ends, the interest rate will be higher than many other cards, so paying off the full balance each month is the better financial move.
Annual fee and when it matters
The Chase Freedom Unlimited has no annual fee, which means you can keep the account open indefinitely without paying to maintain it. This is different from some other Chase cards that charge $95 or more per year. The lack of an annual fee makes the 1.5% cash back a genuine gain rather than a net loss after membership costs.
You are not required to use the card regularly to keep it open. Chase may close accounts that show no activity for an extended period (typically two years or longer), but there is no penalty for straightforward holding the card and using it occasionally.
Credit score requirements and approval odds
Chase typically approves applicants with good to excellent credit, which generally means a credit score of 670 or higher. Chase does not publish exact score minimums, and approval depends on your full credit history, not just your score. People with scores in the 700s and above have the highest approval odds.
If you have been denied for a Chase card in the past, you can call the reconsideration line at the number on your denial letter to discuss your process. Chase sometimes approves applicants on a second review if your credit profile has improved or if you can explain a recent missed payment. Having an existing Chase checking or savings account does not may provide approval but may improve your odds slightly.
How this card compares to other flat-rate options
Several other cards also offer flat-rate cash back with no annual fee. The Citi Double Cash card returns 2% cash back (1% when you buy, 1% when you pay the bill) but requires good credit and has a variable APR with no introductory period. The Capital One SavorOne card returns 3% on dining and entertainment and 1% on everything else, also with no annual fee, but is easier to approve for people with fair credit.
The Freedom Unlimited's main advantage is the introductory 0% APR period if you plan to transfer a balance. Its main disadvantage is the 1.5% rate, which is lower than the 2% you'd earn with the Citi Double Cash. Choose the Freedom Unlimited if you value the introductory APR offer or if you already have other Chase cards and want to consolidate your rewards. Choose a different card if you want a higher flat rate and don't need the introductory APR.
How to use your cash back rewards
Cash back appears in your account as "Ultimate Rewards" points, which you can redeem in several ways. The simplest is a statement credit — you log into your Chase account, select the amount you want to redeem, and it reduces your next bill. You can also request a direct deposit to a linked bank account, which takes three to five business days.
If you have a Chase Sapphire Preferred or Sapphire Reserve card, you can transfer your Freedom Unlimited points to that card and redeem them for travel purchases at a higher value. For example, Sapphire Reserve cardholders can redeem points at 1.5 cents per point for travel, meaning your 1.5% cash back becomes worth 2.25% when redeemed through that card. This transfer option is available but not required — you can redeem your points as cash back without ever opening another Chase card.
Frequently Asked Questions
Does the Freedom Unlimited card hurt my credit score when I open it?
Opening the card triggers a hard inquiry, which temporarily lowers your score by a few points. The inquiry typically falls off your credit report after 12 months. The new account itself also lowers your average age of accounts, but this effect fades as the account ages. Most people see their score recover within a few months if they use the card responsibly and pay on time.
Can I transfer my cash back to someone else's account?
No, your cash back can only be redeemed to your own statement, bank account, or transferred to another Chase card in your name. You cannot send cash back to a family member or friend. If you want to give someone money, you would need to redeem the cash back as a statement credit and then send them money separately.
What happens to my cash back if I close the card?
Your cash back does not disappear when you close the card. You can redeem any accumulated points before closing, or you can leave them in your account and redeem them later if you reopen the card. However, if you close the card and do not reopen it within a certain period, Chase may eventually close the rewards account and forfeit the points, so redeem before closing if you want to keep the value.
Is the 1.5% rate better than using a rewards checking account?
A rewards checking account typically returns 2% to 5% APY on balances up to $25,000, but only on money sitting in the account — not on purchases. The Freedom Unlimited earns 1.5% on money you spend. These serve different purposes: a checking account rewards you for saving, while the credit card rewards you for spending. You can use both: earn cash back on the card for everyday purchases, and earn interest on the checking account for money you're not spending.
Do I need to set up the card or register it before using it?
No set up is required. Once your card arrives, you can use it when ready for purchases. You do not need to register it online or call a phone number to start earning cash back. Cash back begins accumulating on your first purchase.