Chase’s Freedom Unlimited® and Freedom Flex® credit cards stand out as top no-annual-fee options for earning rewards. Currently, the Freedom Unlimited offers a particularly strong welcome bonus, making it a compelling time to apply. Both cards provide flexibility: earn cash back directly, or combine earnings with premium Chase cards like the Sapphire Preferred® for transferable Ultimate Rewards points, significantly increasing their value.
Freedom Unlimited: Elevated Bonus
The Freedom Unlimited card currently offers a $250 bonus after spending $500 within three months – $50 higher than its typical offer. This is a solid deal, though individual spending habits should determine if it’s optimal.
Earning Rates:
- 5% cash back on travel booked through Chase Travel℠
- 3% cash back on dining and drugstores
- 1.5% cash back on all other purchases
Freedom Flex: Rotating Categories, Solid Value
The Freedom Flex offers a standard $200 cash back after $500 spending in the first three months. While reliable, previous promotions have included 5% rotating categories (like groceries or gas) on top of the bonus, making it worth waiting for a potentially better offer.
Earning Rates:
- 5% cash back (up to $1,500/quarter) on rotating categories (activation required)
- 5% cash back on travel booked through Chase Travel
- 3% cash back on dining and drugstores
- 1% cash back on all other purchases
Combining Cash Back with Ultimate Rewards Points
The real power of these cards emerges when paired with a Chase Ultimate Rewards-earning card (Sapphire Preferred, Sapphire Reserve, or Ink Business Preferred). This allows you to convert cash back into transferable points, unlocking higher value through airline and hotel transfer partners like Air France-KLM Flying Blue or World of Hyatt. Chase points are currently valued at around 2.05 cents apiece, making this strategy highly effective for maximizing rewards.
Important Considerations
Both cards impose foreign transaction fees, making them unsuitable for international spending. Additionally, Chase’s application restrictions (including the 5/24 rule) apply, so assess eligibility before applying to avoid wasted credit inquiries.
In conclusion: For existing Chase Sapphire cardholders, now is a strong time to apply for either Freedom card, especially the Unlimited due to its elevated bonus. These cards provide valuable earning potential, and their flexibility makes them essential tools for maximizing your rewards.
