bank by assets, with more than 4,800 domestic branches. is the largest credit card issuer on the market, according to market tracker Nilson. The Chase Sapphire Preferred® card, for instance, has 5% cash back for travel booked through Chase, but it also offers 2% cash back on travel booked via other platforms, along with 3% cash back on a grab bag of other categories-dining, online grocery shopping (excluding big-box and warehouse stores) and popular streaming services-and 1% on other purchases. Road warriors and jet-setters might want to consider if they would get more mileage out of a dedicated travel rewards credit card. Travel junkies who get their kicks ferreting out deals from online travel agencies or via direct booking with a hotel or airline company might find the requirement of booking through Chase to be a drawback-and Freedom Unlimited also charges a 3% foreign transaction fee. For instance, if your assumed annual spending of $36,000 only includes $5,000 worth of travel, rewards in a typical year would add up to $715-a few bucks less than the $720 you would earn with our top cash back pick, the Wells Fargo Active Cash. Homebodies, though, might be better off with a straightforward cash back card. Although Freedom Unlimited offers 3% on drugstore and restaurant purchases, its top rate for travel is what makes this card stand out. With a 5% cash back rewards rate for travel booked through the Chase Ultimate Rewards portal, people itching to hit the road again after Covid can rack up some impressive rewards, especially in the first year, when you can earn an additional 1.5% cash back on up to $20,000 in purchases, for a total of 6.5% cash back on travel booked through Ultimate Rewards. You can be reimbursed up to $1,500 per person and $6,000 per trip for prepaid, nonrefundable passenger fares if your trip is canceled or cut short by sickness, severe weather and other covered situations.Subsequent balance transfers are charged a fee of 5% ($5 minimum).Afterwards regular 20.24% to 28.99% variable APR applies. 0% APR for 15 months on new purchases and balance transfers, but with a 3% balance transfer fee ($5 minimum) for balances transferred within the first 60 days of opening the account.Here are some other key points to keep in mind about Chase Freedom Unlimited: While Buy Side from WSJ judges cash-back credit cards primarily based on their cash-back offers, it’s important to understand all the terms and conditions. While the Freedom Unlimited base rewards rate of 1.5% is still decent, it’s lower than the 2% offered by our Best Cash Back Credit Card pick, Wells Fargo Active Cash®. If you don’t plan to book a lot of trips-or don’t want to use the Chase Ultimate Rewards portal to do so-a card with a higher base rewards rate might suit you better. If you spend $3,000 a month-typical among Wall Street Journal readers who use credit cards-and assuming that you spend $10,000 over the course of the year on travel, you will earn $1,190 in cash back rewards in your first year with the card, and $890 in subsequent years. The current sign-up promotion gives you an extra 1.5% cash back on all spending up to $20,000 in your first year-a bonus worth up to $300 if you max it out. It offers 5% cash back on travel booked through Chase, 3% on restaurant and drugstore spending, and 1.5% on most other spending. The potential rewards can be big, especially if you have big travel plans.
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The Chase Freedom Unlimited card has no annual fee, so you won’t pay to use the card at all if you pay your balance in full every month. Nonetheless, the card’s hard-to-beat rewards rate when you book through Chase makes it Buy Side from WSJ’s pick for Best Cash Back Card for Travel. But there is a 3% foreign transaction fee, making it less than optimal for international trips. In addition, there are accelerated rewards for a couple of other categories of spending-3% back each on dining (including takeout and delivery) and drugstore purchases.Ĭhase Freedom Unlimited has no annual fee. Sign-up bonus: Additional 1.5% cash back on spending up to $20,000 in the first year.Bonus rewards: 5% on travel booked through Chase, 3% on dining and drug stores.
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