Chase Freedom Unlimited Review

Earning rewards is where the Freedom Unlimited’s value is realized. With strong earning categories and a flat rate for other spending, it’s great as a beginner card and can play a big role in an advanced multi-card strategy.

Cashback or points: you choose

Before we go any deeper into the Freedom Unlimited’s earning rates, it’s important to check out its most useful quirk: transferable cashback.

As you spend with the card, you’ll earn back a percentage of that figure in cashback. This will be deposited into your account in the form of non-transferable points. For example, 20,000 points equal $200. You can choose to have these points directly deposited into a bank account as cash or use it as a statement credit to lower the balance on your card. It’s also possible to use points to make purchases on Amazon or for gift cards, although I’d advise against this.

If you’re in it for the cashback, check out the rates below and see how much you’d be earning each month.

However, if you also own one of Chase’s Ultimate Rewards cards, you have another option. You can combine the rewards from your Freedom Unlimited card and redeem your cashback as travel points, which can be transferred to travel partners like United Airlines, British Airways, Southwest Airlines, Marriott, Hyatt and more. The earning rate remains the same, but you now have the ability to score much greater value with your rewards.

To do this, you’ll also need to have either the Chase Sapphire Preferred® Card, Chase Sapphire Reserve® or Ink Business Preferred® Credit Card this. If you don’t have any of these products, you’ll be tied to just cashback.

The value of this should be clear. It affords you another way to earn points you may otherwise have been unable to. So, if you find yourself in this category, look at the next section’s percentages as a points figure. 3% cashback = 3x points per dollar, 1.5% cashback = 1.5x points per dollar, etc.

3% cashback on dining and drugstores

The Chase Freedom Unlimited offers cardholders 3% cashback on dining purchases. That covers restaurants, as well as eligible takeout and delivery purchases, too. 

The drugstore category is more specific but still opens up a new category to maximize points. As places like Walgreens and CVS are included, it can be a smart lifestyle switch to grab necessities at these stores. Most of them stock milk, snacks, and other everyday items, so opting to change your habits could pay dividends in the long run. Of course, if it’s more expensive, you’ll want to pass.

1.5% cashback on everything else.

The most interesting earning opportunity of the Freedom Unlimited is its flat-rate 1.5% cashback on all purchases. It’s rare for a card to have bonus spending categories and a high flat-rate option — this alone makes it worth checking out.

Those looking for cashback will find this particularly appealing as it ensures a strong return on every dollar spent. Beginners will enjoy the no-nonsense approach, removing the need to have multiple cards. In many situations, having one card with a catch-all rate can be more lucrative than one or two cards with multiple bonus spending categories.

Those with an eye on points may not be as convinced. Cards like the Capital One Venture Rewards Credit Card offer 2x miles per dollar on all purchases and doesn’t require any other accounts to accrue transferable miles. However, many value Chase Ultimate Rewards points more than Venture Miles. So, it may be a fair compromise for those focused on Chase.

5% cashback on Chase Travel

The Freedom Unlimited also earns 5% cashback on Chase Travel℠. This is a great return that’s seen on several other Chase cards. The downside to using Chase Travel is the lack of price variability: You’re tied to whatever is there and can’t shop around on other platforms that may have better options.