Chase Freedom Unlimited card offers $200 bonus and 5X points on groceries

The Chase Freedom Unlimited® announced a revamped sign-up bonus, giving cardholders the opportunity to earn up to 60,000 Ultimate Rewards points.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

woman loading groceries into her car

Editorial note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Credit card issuers have been readily adjusting their credit card products in response to the COVID-19 pandemic. As the pandemic has significantly altered our way of life, our financial habits have quickly changed as well. We are spending less in certain categories such as travel and entertainment and more on groceries and in-home activities.

To reflect that change in spending habits, Chase has revamped its sign-up bonus for the Chase Freedom Unlimited® card, giving new cardholders the chance to earn $200 and up to 60,000 bonus points on grocery purchases in their first year.

Chase Freedom Unlimited® Bonus

Chase Freedom Unlimited®

  • On Chase's Secure Website

$0

14.99 - 23.74% Variable

Excellent

  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
  • Earn unlimited 1.5% cash back on all other purchases.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No annual fee
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
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New Chase Freedom Unlimited® cardholders will Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.

The 5% cash back (or 5X points per dollar) is valid for up to $12,000 in grocery purchases for the year (you will earn 1.5 points per dollar on groceries after that). That gives you a maximum earning of 60,000 bonus Chase Ultimate Rewards® points. If you transfer these points to a premium Chase card, such as the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®, that's worth an estimated $750 to $900 in value when redeemed for travel through Chase Ultimate Rewards.

This bonus for grocery stores gives you a great start to earning Chase Ultimate Rewards.

Chase Freedom Unlimited® Benefits

  • Earn unlimited Earn unlimited 1.5% cash back on all purchases.
  • Complimentary three months of DashPass, DoorDash's subscription service that provides unlimited deliveries for a $0 delivery fee on DoorDash orders over $12.
  • Earn 5% cash back on Lyft rides through March 2022. That's 3.5% cash back in addition to the 1.5% cash back you already earn.
  • $0 annual fee.

Chase Freedom Unlimited® Eligibility

This offer is lucrative, but are you eligible to be approved for the Chase Freedom Unlimited®? Chase, like other card issuers, has restrictions on who can qualify for its products, including its Chase 5/24 rule.

If you have been approved for five credit cards in the past 24 months, you will automatically be declined for any Chase product. This rule was instituted to deter consumers from earning sign-up bonuses to only cancel their credit cards quickly thereafter.

To find out if you are under 5/24, take a look at your credit report to see your last 24 months of activity. If you have fewer than five inquiries, you are eligible to be approved. If you have five or more inquiries, you will need to wait until enough inquiries fall off your report.

Should You Get the Chase Freedom Unlimited®?

The Chase Freedom Unlimited® card is an excellent credit card for those looking to earn rewards with ease. Many credit cards, including Chase credit cards, have spending categories for cardholders to earn more rewards. Spending categories are an excellent way to earn more rewards, but can prove to be a hassle for some. If your spending isn’t focused on one or more specific categories, a card without categories like the Chase Freedom Unlimited® makes sense.

Brett Holzhauer

Brett Holzhauer is ValuePenguin’s travel rewards expert, focusing on credit card rewards maximization, consumer travel trends, and personal finance news. He has earned and burned over 5 million points and miles throughout his travels, saving him roughly $75,000 in travel expenses.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).