Join over 6,000 people who are subscribed to receive a once daily email with all of our posts. Never miss out! Click here to subscribe.
Learn how to maximize your points & miles! Join Our Facebook Group!
Chase Freedom Unlimited Information
Over the weekend I covered the rumor of a new Chase Freedom card called the Freedom Unlimited. At the time, the rumor also suggested that the normal Freedom along with its 5X rotating categories was going away. Thankfully that doesn’t seem to be the case. The Points Guy has confirmed with Chase that the original Freedom is staying and both cards will coexist alongside each other.
Freedom Unlimited Details
We now know more information about the new Freedom Unlimited card and it seems to be very good. Here are some of the features of the card as described by Chase to The Points Guy.
- The new Chase Freedom Unlimited card will offer 1.5% unlimited cash back on every purchase.
- There’s no minimum to redeem for cash back—cardholders can redeem any amount, anytime.
- Chase Freedom Unlimited customers will earn points through the Ultimate Rewards program in the same way our Freedom customers do today
- Customers can redeem points for cash back or other redemptions options including gift cards and travel.
Update: You can now apply online.
Based on the quote from Chase, both the old Chase Freedom and new Freedom Unlimited will coexist. That is nice, but the really great news is that the new card will earn Ultimate Rewards! This means that you can earn 1.5X Ultimate Rewards on every purchase as long as you also have a Sapphire Preferred or Ink Plus card to transfer the points to.
Depending on your valuation of Ultimate Rewards, this card could be much better than a standard 2% cashback card. I personally value Ultimate Rewards at about 1.7 cents each based on my past redemptions, so using this card would earn me about 2.55% back based on that. If you are looking to cash in the points earned directly for cash at $.01 each, then cards like the Double Cash from Citi would be better.
Frequent Miler has a good analysis based on mostly correct assumptions about how this card stacks up against the competition. It is definitely worth a read.
Converting Freedom to Freedom Unlimited
While a lot is not known at this point, The Points Guy does say, “Chase has confirmed that you will be able to switch from Freedom to Freedom Unlimited, if that’s something you’d like to do.” This is good news for people like me with multiple Freedoms. While it might sting a bit to lose the 5X categories, it may make sense to switchover a Freedom to have this earning ability.
I am very glad the rumor from this past weekend of the regular Freedom’s demise was wrong. Additionally I am excited that this new card will earn Ultimate Rewards points. While there are still some things we don’t know, it seems the Freedom Unlimited will be a strong addition to the Chase lineup for people who are invested in the Ultimate Rewards program.
This post may contain referral, affiliate or sponsor links that provide Miles to Memories compensation. Thank you for your support.