Increased Sign-Up Bonuses on the Chase Freedom and Freedom Unlimited Cards
Chase has increased the sign-up bonuses on both the Chase Freedom and Chase Freedom Unlimited credit cards.
You can now get $200 cash back which equates to 20,000 Ultimate Rewards points when you spend $500 in the first 3 months from card approval.
The typical sign-up bonus for both the Freedom and Freedom Unlimited is $150 cash back (15,000 Ultimate Rewards points) after spending $500 in the first 3 months.
So, while not a huge change, the extra 5,000 UR points or $50 cash back is nice, and may be just enough incentive for some to submit an application.
Chase’s 5/24 Rule
If you are thinking of applying for either of these cards, keep in mind Chase’s unwritten 5/24 rule.
If you’ve been approved for 5 or more credit cards from any credit card issuer (not just Chase) in the previous 24 months, you will not be approved for a Chase credit card.
Additionally, if you were added as an authorized user on another person’s credit card account in the previous 24 months, that will count as an approved account as well. Although, some have been successful having Chase not consider authorized user accounts by calling in.
Chase Freedom
Sign-Up Bonus
$200 (20,000 Ultimate Rewards points) after spending $500 in the first 3 months from account opening.
Annual Fee
$0
Rewards Earning
Earn 5% cash back (or 5x Ultimate Rewards points) on up to $1,500 in combined purchases in rotating bonus categories each quarter. Bonus categories must be activated to earn the 5%/5x.
Spend outside of the bonus categories and after the $1,500 spend cap is hit earns an unlimited 1% cash back.
Typical cash back bonus categories include: gas stations, grocery stores, drug stores, home improvement stores, and much more.
We publish the Chase Freedom quarterly categories when they’re announced in addition to providing tips on how to maximize that quarter’s cash back/points earning.
You can read more about the Freedom card and apply at the link below.
Chase Freedom Credit Card Link
Chase Freedom Unlimited
Sign-Up Bonus
$200 (20,000 Ultimate Rewards points) after spending $500 in the first 3 months from account opening.
Annual Fee
$0
Rewards Earning
Earn unlimited 1.5% cash back on every purchase.
The Freedom Unlimited is a much easier credit card with which to earn cash back as compared to the Chase Freedom with its quarterly bonus categories.
Depending on your regular spend, though, you may be giving up a significant amount of cash back in exchange for that ease of use.
You can read more about the Freedom Unlimited card and apply at the link below.
Freedom Unlimited Credit Card Link
Cash Back Earning
Both the Freedom and Freedom Unlimited are touted as cash back earning credit cards. And, for those who want to use them as such, they can be somewhat lucrative.
On the face of it, applying for either of these cards and putting the $500 spend on it will provide you $200 back. When looked at in that way, you’re saving 40% on your $500 spend.
And, of course, going forward you’ll be earning cash back on every dollar you put on the card.
But real value can be found when turning the cash back into Ultimate Rewards points and using those points toward free travel.
Ultimate Rewards Points
While cash back is the term for what is earned on the Freedom and Freedom Unlimited, it can also be considered Ultimate Rewards points…Chase’s rewards points program.
You will need a premium Ultimate Rewards earning credit card – Chase Sapphire Preferred, Chase Sapphire Reserve, or the Chase Ink Preferred (business credit card) – to transfer Ultimate Rewards points earned on the Freedom and/or Freedom Unlimited to travel partners to use for free travel.
Utilizing Ultimate Rewards points in this way can prove extremely valuable when booking airfare or hotel rooms.
If you want more information on utilizing Ultimate Rewards points for free travel, read my piece “Why I Love Chase Ultimate Rewards Points and You Should Too.”
Wrap Up
If you’re looking for a decent cash back credit card, or are a casual Miles and Points hobbyist, these increased sign-up bonuses on the Chase Freedom and Freedom Unlimited just might be worth a look.
