By now you know that Chase offers some of the most lucrative credit cards on the market, and now the lender is offering an even more amazing card. The Chase Freedom Unlimited was just announced; and it looks to be a good card for those who like to enjoy the benefits of cash back on purchases without the hassle of dealing with revolving categories. The Freedom Unlimited card is not slated to replace the Chase Freedom card. It is merely designed to offer a bit more to consumers. What’s the difference, you ask?
The Chase Freedom card is one of the leading cash back credit cards on the market offering 1% cash back on all purchases plush an additional 5% cash back on as much as $1,500 each quarter spent on revolving categories. The new Chase Freedom Unlimited simplifies things a bit for those who like to shop but want a flat rate without the stress of remembering where to do their shopping every quarter; that rate is 1.5%. Let’s look at it this way. With the Chase Freedom, you could spend $50,000 per year on your card, maxing out the $1,500 5% reward every quarter. On those $6,000 worth of purchases, you’re earning $300 cash back. That leaves $44,000 worth of purchases at 1% cash back for an additional $440 cash back throughout the year. That’s $740 cash back; not bad at all.
With the Chase Freedom Unlimited, you can spend $50,000 throughout the year and earn 1.5% cash back for a total of $750 cash back. That’s only $10 more, but if you can’t reach the quarterly 5% earnings every quarter, you’re not going to get as much. Do the math; what works best for you and your spending habits? The new Chase Freedom Unlimited also offers an additional $150 cash back bonus if you are able to spend $500 in three months, making your cash back bonus even more significant.
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