Update 1/4/24: It’s been brought to our attention that this uncapped Chase Freedom Unlimited offer will be ending soon. If it sounds tasty, best to put it on the menu soon.
Chase recently released a brand new, and very enticing, welcome offer on the no annual fee Chase Freedom Unlimited card. It doubles all cashback on the card for the first year, including the bonus categories of drugstores and restaurants. Using this, a new Freedom Unlimited cardholder would get 3x everywhere, 6x on dining and drugstores and 10x on purchases through the Chase Travel portal…with no annual fee. Wowza.
This offer is exciting for those with big spend, as it offers 3x everywhere and doesn’t put any cap on the total amount of cashback that you can earn in the first year. Because of that, we’ve put it on our Best Offers page.
However, as good as 12 months of 3x everywhere sounds, some folks might actually be better served by the older (and still existing) offer of 20k points after $500 spend and 5x on grocery and gas for one year. We’ll quickly compare and contrast each one below.
Offer and Card Details
|Card Offer and Details
20K points + 5% on gas and groceries for a year ⓘ Friend-Referral
Earn 20,000 points (worth $200 cash back) after spending $500 in the first 3 months + 5% cash back on combined gas station and grocery store purchases (not including Target or Walmart) on up to $12,000 spent in the first year.No Annual Fee
This card is likely subject to Chase's 5/24 rule (click here for details).
Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy.
Recent better offer: Unlimited Double Cash Back for 12 month (expired 1/11/24)
FM Mini Review: Great for 3x categories and 1.5X everywhere else. Excellent companion card to Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred. Click here for our complete card review
Earning rate: 5x travel booked through Chase ✦ 5X Lyft through March 2025 ✦ 3x dining ✦ 3x drugstores ✦ 1.5X everywhere else
Card Info: Visa Signature or Platinum issued by Chase. This card imposes foreign transaction fees.
Noteworthy perks: Free DashPass for up to 3 months upon activation ✦ $10 quarterly Instacart credit ✦ 3 months free Instacart+
See also: Chase Ultimate Rewards Complete Guide
Comparing both Chase Freedom offers
First off, let’s point out that, regardless of which of the two offers that you take, the Freedom Unlimited will give you:
- 5x at Chase Travel
- 3x at restaurants
- 3x at drugstores
- 1.5x everywhere else
Given that, let’s break down what each of the two available welcome offers will provide new cardholders during the first year of card membership:
Offer “A” – Unlimited Double Cashback for first year
- Additional 5x at Chase Travel
- Additional 3x at restaurants
- Additional 3x at drugstores
- Additional 1.5x everywhere else
Offer “B” – 20k points after $500 spend + 5x on gas and grocery for first year
- 20,000 Ultimate Rewards (worth $200 without a card that enables transfers to partners)
- Additional 3.5x on grocery and gas on up to $12,000 total combined spend (or an additional 2x when compared to the 3x everywhere on offer A)
As mentioned, that extra 1.5x from offer A turns the Freedom Unlimited into a 3x everywhere card, which is incredible. But, you also miss out on 20,000 easy points. In order to break even, you’d need to spend ~$13k at 3x to get the 20,000 bonus points that you’d have after $500 spend with offer B (because you’re getting 1.5x everywhere regardless of which offer you pick).
The bonus categories are close as well. Remember that the “double cashback” offer A adds an additional 3x on restaurants and drugstores to make the total 6x in the first year. Offer B gets you an additional 2x on up to $12k spend on gas and grocery when compared with offer A. Let’s say that you spend $1k/month on fuel and groceries, so you’d max out the $12,000 limit and earn 60,000 points/$600, or an additional 24,000 point when compared with doing the same $12k at 3x on Offer A. In order to make that up with the additional 3x on dining and drugstores, you’d need to spend $8k in those two categories. That’s going to be easy for some folks and a lot of toothpaste for others.
So, which offer is better? That depends entirely on your spending patterns.
Are you a big spender, eat out a ton, do a lot of spending in drugstores and/or salivate at maximizing the potential of a full year of 3x Ultimate Rewards everywhere, uncapped? Offer A is for you.
Are you a moderate spender that’s looking for a one-card solution that bonuses spending on dining, groceries, gas and drugstores with no annual fee? Then, Offer B could be better.
We debated the pluses and minuses of each one as a team and decided to list the new offer with double cashback as the best offer, simply because of the potential with the uncapped earnings. But, we’re also listing the older offer as an alternate because it could actually serve some folks better.
The double cashback offer is via affiliate channels, so we’ll see it all over the interwebs during the next few days. It’s a great deal on a no annual fee card that will give you a ton of value in the first year. However, it’s worth remembering that the older offer is still out there and running the numbers to figure out which one is best for you.