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Chase Freedom Unlimited® Credit Card: Earn 3% Cash Back on All Purchases (Up to $600 Cash Back)

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Chase Freedom Unlimited® [chase.com] is offering a 3% cash back on all purchases up to $20,000 spent (on purchases within the first 12-months of your account opening). Earn up to $600 cash back in your first year.



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Joined Dec 2010
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#2
wow, that's an awesome offer. I assume no way to get it if you already have a Freedom Unlimited?
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Joined Feb 2008
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#3
Quote from Topper59
:
wow, that's an awesome offer. I assume no way to get it if you already have a Freedom Unlimited?

I doubt it, although Discover did something similar and gave it to current card holders for the first year (when they did the 2x yearly rewards thing).
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Joined Feb 2009
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Original Poster
#4
Quote from Topper59
:
wow, that's an awesome offer. I assume no way to get it if you already have a Freedom Unlimited?
This deal is way too lucrative to be offered to current card holders Roll Eyes (Sarcastic)
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Joined Apr 2011
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#5
Not that lucrative

$150 is normal bonus

This gets you $300 with a much higher spend....
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Joined Mar 2013
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#6
With no sign up bonus, break-even point is $10,500.
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Joined Feb 2011
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#7
wait isnt 3% of 20,000 = 600$?
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Joined Sep 2009
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#8
Quote from giantbruin
:
With no sign up bonus, break-even point is $10,500.

Nope...sounds like you are comparing the $150 signup to the "extra" 1.5% of 10.5k?

Can't look at it like that though.

At 1.5% it never made sense to use this card in the first place.

You'd need to compare it to the 2% or better cards out there.

For example compared to the Fidelity or Citi cards that give 2% on everything (no cap either) you're only earning 1% more.

So you'd need to spend $15,000 to match the $150 sign-up bonus.

And that's $15,000 only in categories where you can't already earn 3-6% cash back on other cards already.



The only time this deal would offer decent value compared to the previous signup is if you actually don't do cash back, and instead use the UR points for travel- where you can potentially get a lot more than 1 cent a point out of the rewards.

And even then you'd need to come up with something over $10,000 spend that you can't already get 3x or 5x on with other Chase cards to make it worthwhile.




Quote from Kensic
:
wait isnt 3% of 20,000 = 600$?
Yes, but ignores the opportunity cost of putting 20k spend on this fairly mediocre deal compared to earning a ton more putting that spend elsewhere.
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#9
Quote from Knightshade
:
Nope...sounds like you are comparing the $150 signup to the "extra" 1.5% of 10.5k?

Can't look at it like that though.

At 1.5% it never made sense to use this card in the first place.

You'd need to compare it to the 2% or better cards out there.

For example compared to the Fidelity or Citi cards that give 2% on everything (no cap either) you're only earning 1% more.

So you'd need to spend $15,000 to match the $150 sign-up bonus.

And that's $15,000 only in categories where you can't already earn 3-6% cash back on other cards already.



The only time this deal would offer decent value compared to the previous signup is if you actually don't do cash back, and instead use the UR points for travel- where you can potentially get a lot more than 1 cent a point out of the rewards.

And even then you'd need to come up with something over $10,000 spend that you can't already get 3x or 5x on with other Chase cards to make it worthwhile.






Yes, but ignores the opportunity cost of putting 20k spend on this fairly mediocre deal compared to earning a ton more putting that spend elsewhere.
Yeah I was doing an "all things equal" comparison. Of course things change if you add the opportunity cost of not using other cards. Found this analysis on reddit:

A. 1.5x + $150 Bonus
15,750 after $500 spend
23,250 after $5000 spend
30,750 after $10000 spend
31,500 after $10500 spend
B. 3x Promo
1,500 after $500 spend
15,000 after $5000 spend
30,000 after $10000 spend
31,500 after $10500 spend
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Joined Aug 2009
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#10
Quote from giantbruin
:
Yeah I was doing an "all things equal" comparison. Of course things change if you add the opportunity cost of not using other cards. Found this analysis on reddit:

A. 1.5x + $150 Bonus
15,750 after $500 spend
23,250 after $5000 spend
30,750 after $10000 spend
31,500 after $10500 spend
B. 3x Promo
1,500 after $500 spend
15,000 after $5000 spend
30,000 after $10000 spend
31,500 after $10500 spend
I think for most people the extra 1% for one year isn't as good of an offer as the $150 signup bonus they normally have. You need to spend $15k in the first year just to make back the $150 they'd normally give you (assuming you already have a 2% CB card like Citi DoubleCash or Amex Fidelity). Even then, 3% CB is capped at $20k, so you'd make $600 back on $20k spent compared to the $400 back you would have made on a 2% card.

Effectively it's a $200 sign up offer (best case scenario, if you spend $20k in the first year), assuming you already have a 2% card.
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Joined Jun 2017
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#11
Quote from Knightshade
:
Nope...sounds like you are comparing the $150 signup to the "extra" 1.5% of 10.5k?

Can't look at it like that though.

At 1.5% it never made sense to use this card in the first place.

You'd need to compare it to the 2% or better cards out there.

For example compared to the Fidelity or Citi cards that give 2% on everything (no cap either) you're only earning 1% more.

So you'd need to spend $15,000 to match the $150 sign-up bonus.

And that's $15,000 only in categories where you can't already earn 3-6% cash back on other cards already.



The only time this deal would offer decent value compared to the previous signup is if you actually don't do cash back, and instead use the UR points for travel- where you can potentially get a lot more than 1 cent a point out of the rewards.

And even then you'd need to come up with something over $10,000 spend that you can't already get 3x or 5x on with other Chase cards to make it worthwhile.






Yes, but ignores the opportunity cost of putting 20k spend on this fairly mediocre deal compared to earning a ton more putting that spend elsewhere.
Regular spend on the CFU beats 2% cashback cards since it is 2.25% minimum for travel when paired with CSR. I'm not saying this is a good deal, just that you need to compare it to itself not DC or Fido
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Joined Sep 2009
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#12
Quote from TheTaxman_Cometh
:
Regular spend on the CFU beats 2% cashback cards since it is 2.25% minimum for travel when paired with CSR. I'm not saying this is a good deal, just that you need to compare it to itself not DC or Fido

Man, if only my post had specifically called out the difference between using the card for cash back vs travel.

Oh, wait...it did. You even quoted me doing it.
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Joined Feb 2006
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#13
The 3% for the first year is now available in-branch and via referral. If anyone is looking for a referral, shoot me a PM.
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Joined Aug 2009
L5: Journeyman
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#14
They dropped the $150 bonus that was previously offered on this card. I think the bonus is more valuable than the 3% for 1 year.
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Joined Feb 2009
L3: Novice
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Original Poster
#15
Quote from addiboy
:
They dropped the $150 bonus that was previously offered on this card. I think the bonus is more valuable than the 3% for 1 year.
Oh snap, at the time when I wrote this thread the $150 sign up bonus offer was still offered.
Now the bonus offer is replaced with this 3% offer.

RIP to $150 Sign up bonus EEK!
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Last edited by Hanger April 8, 2019 at 12:51 PM.
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