The Chase Freedom Limitless® gives cash-back rewards with a $0 annual payment, which could attraction to you should you’re cost-conscious. Nevertheless it’s necessary to think about the complete image to verify it is the appropriate card for you.
For example, some $0-annual-fee playing cards is probably not worthwhile if it means lacking out on beneficial rewards or advantages different playing cards could provide. This is a better have a look at what you’ll be able to count on from the Chase Freedom Unlimited® should you’re on the hunt for a brand new cash-back rewards card.
Earn limitless money again
The Chase Freedom Limitless® card gives limitless 1.5% money again on most purchases, 5% money again whenever you buy journey by way of the Chase Ultimate Rewards® portal and three% again at drugstores and eating places, together with takeout and supply.
Add to that two limited-time cash-back promotions:
Proper now, new cardmembers earn 5% money again in grocery shops (excluding Walmart and Goal) on the primary $12,000 spent or till the top of your first 12 months of card membership, whichever comes first.
You may as well earn 5% money again on Lyft rides by way of March 2022. That additionally applies to qualifying Lyft services bought by way of the Lyft app.
The Chase Freedom Limitless® is topic to the 5/24 rule, a Chase coverage to say no your bank card utility should you’ve opened 5 or extra card accounts, with any issuer, within the final 24 months. So think about whether or not this card may put you on the five-card restrict and whether or not that might imply sacrificing a greater possibility down the street.
Snag a large introductory cash-back bonus
Introductory bonus gives could make no-annual-fee cash-back playing cards extra interesting if they arrive with an easy-to-meet minimal spending requirement. The Chase Freedom Limitless® gives the next welcome bonus: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
While you hit the minimal spending requirement, incomes the bonus is actually like getting 40% money again on these purchases. That is on high of the 5% money again you possibly can earn for qualifying grocery purchases, the three.5% money again for Lyft purchases or the limitless 1.5% money again you possibly can earn on all the pieces else.
In comparison with different cash-back rewards playing cards, the Chase Freedom Limitless® has some of the aggressive welcome bonuses.
Get pleasure from versatile cash-back redemptions
One other plus of the Chase Freedom Limitless® is the choices you could have for redeeming cash-back rewards. Rewards earned with this card could be redeemed for:
Direct deposit right into a U.S. checking or financial savings account.
Procuring with factors at Amazon.com.
Reward playing cards for buying, eating and leisure.
Journey by way of Chase Final Rewards®.
To e book journey by way of the Chase Final Rewards® portal, your $200 welcome bonus is transformed into 20,000 factors that you possibly can then redeem for airfare, inns or different journey purchases.
You may get much more worth from these factors if in case you have one other Chase card, such because the Chase Sapphire Preferred® Card. That’s as a result of Chase permits you to switch your factors between playing cards. For instance, transferring factors from the Chase Freedom Limitless® to the Chase Sapphire Most well-liked® Card provides you 25% extra redemption worth whenever you then use the factors for journey within the Chase portal. So transferring the 20,000 factors from the welcome bonus can get you worth equal to 25,000 factors when reserving by way of the portal.
The underside line
The Chase Freedom Limitless® has loads to love should you’re focused on a $0-annual-fee cash-back rewards card. Take into account this card should you:
Wish to earn limitless cash-back rewards with out juggling rewards tiers or rotating bonus classes.
Wish to earn the welcome bonus.
Need versatile methods to redeem your money again rewards.
Have one other Chase card that is eligible for Chase Final Rewards®.
This card is probably not the most effective match if you would like to go away a slot open for an additional Chase rewards card beneath the 5/24 rule. General, nonetheless, the Chase Freedom Limitless® is a stable choose for incomes money again with no annual payment whereas having fun with just a few extra perks alongside the way in which.
If you wish to dive into rotating bonus classes to earn much more factors, nonetheless with a no-fee card, think about the Chase Freedom Flex℠.
Learn how to Maximize Your Rewards
You desire a journey bank card that prioritizes what’s necessary to you. Listed here are our picks for the best travel credit cards of 2020, together with these greatest for: