Posted by William Charles on March 13, 2016
Credit Cards

Published on March 13th, 2016 | by William Charles

38

Chase Freedom Unlimited Now Available – Should You Apply/Product Change?

According to an anonymous source, the Chase Freedom Unlimited is now available for sign ups in branch and over the phone (backed up by this exchange PointsCentric had). You should also be able to product change an existing Chase branded personal card (Chase Slate, Chase Freedom, Chase Sapphire or Chase Sapphire Preferred) into this new card. It should also become available online sometime during April (most likely April 8th) when Chase launches it’s official advertising program for the card.

Card Details

  • 150 sign up bonus after $500 in spend within three months
  • $25 bonus for adding an authorized user and them making their first purchase
  • 1.5% unlimited cash back on all purchases
  • 0% Introductory APR for purchases and balance transfers for 15 months

Should You Apply/Product Change?

Keep in mind that if you want to apply for this card, you’ll be subjected to the Chase 5/24 rule. Basically meaning you won’t be approved if you’ve got five credit cards in the past two years (from any issuer, not just Chase). Because of this, most people will be looking at this as a product change option rather than an apply option, but basically the reasoning behind both decisions is pretty much the same.

  • You shouldn’t product change if you don’t have a card with the ability to transfer to Chase’s travel partners (e.g Chase Sapphire Preferred or Chase Ink Plus). The Freedom Unlimited (Chase FU card) earns 1.5% cash back (really 1.5 Chase UR points), but you can only transfer those points to travel partners with one of these annual fee cards. There are cards that earn 2%+ cash back, so downgrading doesn’t make sense if you just want a cash back card.
  • You need to value Ultimate Rewards points at 1.34¢ a piece otherwise you’d be better off putting that spend on a 2%+ cash back card.
  • You need to look at how much spend you’d be able to put on a regular Chase Freedom’s 5% categories. The regular Chase Freedom offers 5% back in rotating categories (with a cap of $1,500 in spend per quarter). Let’s say you max out those categories every year (unlikely for most people, but just making a point) you’d earn a total of 30,000 Chase UR points on $6,000 in spend. You’d need to spend $20,000 on the Chase Freedom Unlimited to earn the same amount of points.

I have a couple of regular Chase Freedom’s, I don’t max out all of the quarters anymore but I do probably earn ~15,000 Chase UR per card. My breakeven would be $10,000 a year on the Chase FU card, I do value Chase UR at more than 1.34¢ a piece but at the moment I don’t have that much non-category spend that isn’t put towards meeting minimum spend requirements on other cards, so I’m not going to bother product changing to the new Chase FU card.

For others that don’t utilize the 5% rotating categories or do have a lot of non category bonus, non minimum requirement spend then this card is a pretty good option. Let me know what your plans are in regards to the Chase FU card in the comments and also if you were able to successfully product change or apply.



38 Responses to Chase Freedom Unlimited Now Available – Should You Apply/Product Change?

  1. Mh says:

    I have 2 Freedoms, last year using 2 quarters including the Amazon 10% I got 45k UR points.

    Won’t be PCing to the Unlimited

  2. Credit says:

    I have one freedom and I don’t use it at all. What’s the fuss about?

  3. Iz says:

    According to phone rep, no signup bonus for product change; only for new apps.

  4. Miles says:

    Can I product change any Chase card?

  5. Frugalman says:

    also curious whether a product change would forfeit the potential of getting sign up bonus of the product type (Freedom Unlimited here) you change to in future. My guess is that it should not since you don’t get sign up bonus when you do the switch now.

  6. raj says:

    i have 1 freedom and 1 for my spouse. Both will try to max out the 5% for gas (current quarter )and grocery (next) and then will PC both the card and planning to do MS on that. Restaurant and Amazon have other ways to get max benefit

    As of now dont have CSP or Ink plus . But my spouse is having 4 new cards so she will be apply for 5th one as CSP after 6 or 7 months. (She was previously denied because of new credit profile for CSP).

  7. adrift says:

    I have a Chase Sapphire Preferred. It’ll soon get hit with an annual fee. If I Product Change it to this card, will that act add to the 5/24 count for future Chase applications?

  8. JohnnyS says:

    Just called in to chase and my application for freedom unlimited is pending.

  9. Ian says:

    Between this card and Capital One Quicksilver, I’d rather have the Capital1 because it has no foreign transaction fees.

  10. Mohammad M says:

    Does PC prevent potential sign up bonus on this card?

    • Chase usually won’t approve you if you apply for a card you already hold, so yes unless you PC’d it to a different product first.

      • Mohammad M says:

        I have a regular Sapphire that I never use. I don’t have a CSP/Ink but I’m at about 0/24. So it makes sense to PC now and rack up points that I transfer out when I get Ink/CSP.

  11. AB says:

    On a side note, Freedom Q2 is Groceries and Wholesale Clubs. Costco switches over to Visa June 1. I’ll probably max it there in June.

    Kind of odd that groceries aren’t easy to max any longer…

    On that note, does GoBank take KATE?

    • Don’t think they switch June 1st. Just sometime in June, think the change over will be June 19th. Also Costco usually posts as wholesale store, so won’t work for groceries anyway.

      • AB says:

        The categories are groceries and wholesale clubs. It explicitly includes Sams Club and BJs but excludes Walmart and Target.

    • Adrian says:

      What Ive been doing is buying cash cards online for and load a few hundred dollars (~$300) with my Freedom card. Costco online allows for purchases using Visa cards. Thats a hidden way to get the 5x bonus when Costco stores have yet to accept Visas.

  12. Kevin says:

    I sent a secure message to chase for my wife to product change her sapphire which we had downgraded from the sapphire preferred when the annual fee hit. They did it no problem. Here is the message they sent.

    Hello, my name is XXXXXXX. Thank you for contacting
    Chase to change the product to a Freedom Unlimited for
    your account ending in XXXX. It is my pleasure to assist
    you today.

    Let me share that I am pleased to inform you that the
    account is eligible to switch to a Freedom Unlimited card.

    Earning points:
    ? Unlimited 1.5% (per $1 spent) cash back on every
    purchase
    ? Points are earned when purchases of products and
    services are made
    ? Returns and refunds: Points will be deducted from
    customers point balance

    Accelerated earnings:
    ? Earn an extra 5 to 15% cash back when you shop online
    with Shop through Chase

    Redemption minimum:
    ?No minimum point requirement to redeem points

    Rewards expiration:
    ? No expiration on points earned as long as account is
    open

    Further the annual percentage rate (APR) and account
    number will remain the same.

    Discontinued offers:
    *Sapphire 2015 First Friday Dining offer. Earn one
    additional point on all dining purchases, totaling 3X, on
    the First Friday of each month through 2015. Additional
    point is displayed as First Friday Dining Bonus under
    Rewards Summary on statement.

    *Sapphire Dining First Friday – cardmembers will earn one
    incremental point for a total of 3X points on dining
    transactions on the First Friday of each month. Offer will
    start on 5/3 and end on 12/6. Sapphire customers are
    automatically enrolled in offer. There are no

    Please review the following information before we process
    your request:
    -Any promotional balances attached to the old account will
    transfer to your new account based on terms of the
    original promotion.
    -If you have previously been excluded from receiving
    solicitations, you will continue to be excluded going
    forward.
    -If any of the terms of your account have changed, you
    will receive a letter in the mail explaining the changes
    and your right to reject them.
    -Please note that the expiration date and signature panel
    code will change. if you have automatic charges billed to
    this account, you will want to inform those merchants of
    the new expiration date once you receive your new cards.

    If you wish to continue with this request, please reply
    using the Secure Message Center. We’re not able to process
    your request unless we receive your confirmation.

    If you need any other assistance, you can send us a secure
    message. We appreciate your business and thank you for
    choosing Chase.

    Thank you,
    XXXXXXXX

  13. Credit says:

    I have cap I want to pc. Should I get a sapphire or a freedom unlimited.

    Also got denied for ink+. Who says 5/24 is starting in march. I applied in Feb and they took one month to reject. It already started for me I will call them tomorrow. What should I say?

    Finally my csp # was stolen. They think kohl’s dB was hacked. Who knows.

  14. kraja says:

    Possible to change chase amazon card to freedom unlimited

    • Bill says:

      There are two questions to ask first:
      1. Do you have more than 5 new cards in 24 months? If yes, then you’ll have to PC.
      2. Do you have other uses for the inquiries, such as another card you want, or keeping your inquiries low prior to a major purchase? Again, if yes, then you may want to PC.

      If you’re not worried about #1 or #2, you could apply for the Chase Freedom Unlimited, collect the bonus, and decide what to do with the Amazon Visa later. The Amazon Visa earns 3% year-round, without requiring a Prime membership.

    • P says:

      I asked them about this and they said no. I have the Amazon visa – my oldest card and rarely used now.

  15. Big ugly says:

    I don’t use the gas category on my existing Freedom, and I have a SM MC for Amazon and groceries year-round. So if I PC my CSP, it would be to the Freedom Unlimited probably. I may just cancel, though, since I would almost never use a CFU (except for possibly COSTCO) and give myself a better chance at getting approved for some Chase apps next year when I have a fresh 24 months.

    • Jonathan says:

      I have similar case, I only use less than $150 on gas on my two existing Freedoms this quarter since I have a lot of 15% off gas card( Shell, BP, Chevron, or Exxon) or I usually get $1 off per gallon from Kroger gas station. I also have a SM MC for Amazon, gas, and groceries year-round.

      I only spend full $1500 each from my two Freedoms when the bonus category is grocery since I spend a lot from Kroger/Walmart each month.

      I am still wondering if I want to PC one of my Freedoms to Freedom unlimited after I spent $1500 grocery bills next month. I have a 2.625% BoA travel. I am not sure if a Freedom unlimited minus a Freedom will be better than BoA travel with no foreign transaction fees.

  16. Sam says:

    Thinking about making a huge purchase at Costco using my Chase Freedom. Will Costco be included in the warehouse category?

  17. P says:

    My sister successfully product change her Chase Sapphire (not Preferred) into the Chase Freedom Unlimited. Should be very nice for all our Costco expenses later on.

  18. Carlos says:

    Guys look and if anyone needs proof let me know.
    I dont know what this Chase 05/24 rule but from what im reading I dont think its accurate.
    For example and I said some of this in another post.
    I have the United, Freedom, Amazon, Disney, Marriot, and have had them all under 12 to 15 months.
    Applied for the Freedom unlimited in branch and approved.
    I credit the Doc site with getting 6 other citi banks, 1 BBVA, and have applied probably in upwards of many other cards this year alone, cant really give an amount but its a ton this year, a ton last year.
    My point is I dont get declined, I get approved for every one, started recently not getting instantly approved but I get them with a generous credit line and its not relocated.
    My relationship with Chase is huge and im a bank private client.
    Do they pick and choose who they apply the 05/24 rule because they are exempting me.

    My wife on the other hand has 2 slates, and a United of which I am also authorized on those and she gets declined for opening to many accounts.
    Can someone please elaborate on wether they pick and choose on this please?

  19. J.C. says:

    They are applying 5/24 to at least some phone applications.

    App’d on the phone. Instantly shot down. Called to inquire reason and analyst stated elevated number of new accounts. Asked if they could take a second look considering my overall excellent Chase relationship, but he said in this case their hands are tied.

    • Only works for instant approvals, just let it process naturally and hope it goes through.

    • Ken says:

      In Feb. I called in to apply for the 80k IHG offer and applied online for Hyatt same day. Hyatt card was instantly approved with 20k limit (highest CL ever!). Waited out on the IHG and it took 3 weeks to process and got denied. Called recon and they mentioned how many new cards I have and told me that its “too excessive.” Same thing happened in Jan. when I applied for the Marriott business card…I received the mailer for 80k and went for it and got shut down with the same “excessive” verbiage. Sad times…but I guess you cant win ’em all 🙂

      • Jonathan says:

        Not sure how many new cards you got. I had 15 new cards for the past two years. I got approved for 80k IHG, 50k SW premier, and 50k SW business within 40 days. IHG & SW premier got instant approved for 30K CL each. SW business took a day to be approved for 32K CL without calling recon.

        One trick is each time I got approved on one card, I always SM Chase to reduce the credit line to 7-8K within one week.

        I still debate myself if I want to apply Freedom unlimited after IHG, SW premier & business this year. I just got approved SW business three days ago.

  20. zjts says:

    Are there 2 separate cards Chase{forums-storename-auto-links} freedom & Chase{forums-storename-auto-links} freedom unlimited? Or was the freedom changed to the freedom unlimited?

    above
    states the unlimitd has 1.5% unlimited cash back on all purchases while the original freedom has the 5% rotating categories

    On https://creditcards.chase.com/credit-cards/home I do not see the original Freedom card, does it even exist anymore?

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