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Chase Freedom Unlimited Credit Card Review 2023 – Eligibility & How to apply, Pros & Cons

Chase Freedom Unlimited Credit Card Eligibility –

  1. The applicant must have good or excellent credit when applying for this card.
  2. A FICO credit score of at least 670 is required before applying.
  3. A higher credit score would not guarantee approval. Lower credit also would not guarantee and decline.
  4. If the applicant has opened 5 or more credit cards in the past 2 years, then Chase will automatically decline the application for a new credit card. This rule is known as the 5/24 rule.
  5. If the applicant has an 800 credit score but has opened 6 new credit cards in the last 2 years, their application will be declined. So take care before applying.

How to Apply for Chase Freedom Unlimited Credit Card –

  1. Log on https://creditcards.chase.com/cash-back-credit-cards/freedom/unlimited
  2. Then a new webpage would be opened. There are two options available. Sign in if you are an existing customer. A new page would open. Enter the user name and password and then click on Sign in.
  3. The second option is to Apply as a guest. Click on the same button.
  4. Enter your personal info.
  5. Enter your middle name, first name, and last name.
  6. The suffix column is optional.
  7. Enter your date of birth.
  8. Enter your Mother’s maiden name.
  9. Enter the Tax type id type.
  10. Enter the Social Security Number.
  11. Then you need to enter the contact and address details.
  12. Enter the email address.
  13. Then tick to check one of the boxes to give the electronic signature.
  14. Then choose the type of residence.
  15. Select the Employment status.
  16. Enter the Total gross income.
  17. Then you can go paperless.
  18. If you want to add an authorized user, click Yes; else, click No.
  19. If you want to transfer the balance, click Yes; else, click No.
  20. Then go through the pricing and terms very carefully.
  21. It has very important information, so take time to read it carefully before proceeding further
  22. Click on the tick box if you are in agreement with all the terms.
  23. Click on submit button.

Chase Freedom Unlimited credit card – Pros

The Chase Freedom Unlimited Credit Card is fairly hard to get because it requires at least good credit for approval. If we talk in some languages, it means a minimum credit score of 700. The person who applies for this has an unlimited need for an annual income that demonstrates an ability to make at least the card’s minimum payment every month.

It has a credit limit, and they offer a $500 minimum credit limit, but it is at least $5000 if users approve of the Visa signature version of the cards. This card organizer also provides plenty of opportunities to earn cash back.

There are two types of cards, chase freedom cards and chase unlimited freedom cards; now, the difference between them is chase freedom cards offer 5% back on categories that rotate each quarter up to $1500 in spending but chase unlimited freedom offers 1.5% back on every dollar spent.

The Chase Freedom Flex Cards have to fix some categories, but the unlimited cards organizer offers no matter the category and with no spending limits on rewards. Yes, the unlimited freedom card is a great card with no annual fees and is very good for travel because users can get back a lot of rewards, such as cash back. There are many benefits when users use it, and it never has any disadvantages. If someone has a goal and wants to maintain a good credit score, they should have two or three credit card accounts.

If we talk about the US, these cards are accepted everywhere in the US, so don’t worry about this issue. It can be used by millions of merchants both nationwide and internationally. They have cards during these times to have a status symbol because the government and people believe in a cashless society. It’s quite easy to carry, and users can easily go anywhere. The chase freedom unlimited card has a fantastic earn rate for a card with no annual fee, and users will earn 5%cash back on travel.

This is a generous welcome offer for annual fee card holders. It’s very attractive for a beginner in the world of credit cards and very easy to start out with, and it has a good return on your spending. It’s just not a card. It’s a powerful tool in the arsenal of any person who is a points collector.

Chase Freedom Unlimited credit card – Cons

Chase Freedom Unlimited card might not be ideal for consumers with poor credit scores, those who want to earn extra reward points on groceries and other gas purchases, or those who prefer a flat earnings rate.

  • Stricter approval guidelines

This card is designed for users with good or excellent credit above 670. So, the applicant must ensure that they meet those qualifications before applying. They also have very strict guidelines regarding the number of accounts that one can open, and they hold applicants to the 5/24 rule. According to some, if the applicant has opened five or more credit cards with any of the issuers in the previous 24 months, they would most likely be rejected.

  • Not a travel-friendly option

Users would be able to earn big when they book travel through the Chase Ultimate Rewards with their card but using the same for purchases during overseas travel would not be the most cost-effective as they charge a 3% foreign transaction fee which means with every charge that would make overseas they will get additional 3% fee added on top of it. It is a fee that would prove costly in the long run. So one needs to have other cards that they can use for purchases on their trip, which would not add this extra cost.

The users would require to use the Chaser Ultimate Rewards portal when they are looking to earn their cashback rates. Otherwise, they would have to flat rate of 1.5% rate. The card is not ideal for those who want to earn bonus cash back rewards in categories such as gas, grocery stores, and online shopping.

It is also not ideal for those who prefer flat-rate cash back instead of the bonus category cashback for the maximum rewards. So these are some of the cons associated with the Chase Freedom Unlimited card. Applicants need to review these thoroughly before going ahead with their application.

Featured Image Credit: Moore With Miles

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Harish

Harish is the editor at howto Finance. Here we publish high quality trending news topics on Business, Finance, Loans and Credit-Cards etc. Our editorial includes worldwide topics.
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