Chase Freedom Limitless Credit score Card Assessment 2023

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The Chase Freedom Limitless Visa® is an unsecured money again bank card. It offers vital reward charges for normal purchases to cardholders and there aren’t any sign-up necessities for classes. There’s additionally no cap on the amount of money again you may get.

However is the cardboard match for you

Let’s dive in—

This text will present you:

  • What the Chase Freedom Limitless bank card is, and the way it works.
  • Charges, bonuses, and different particulars.
  • Professionals and cons of the Chase Freedom Limitless Visa®.
  • Comparable playing cards that you could be additionally need to think about.
  • If the Chase Freedom Limitless card is sweet for you.

High bank card lists so that you can take a look at:

Chase Freedom Limitless Visa® at a Look

Sort: Money again card

Annual payment: None

Upkeep payment: None

Credit score rating: Good (670+)

Money again: 1.5% on all purchases, 3% on drugstore purchases and eating, 5% on journey 

Intro supply: $200 bonus after spending $500 on purchases within the first 3 months of opening account. 

Advantages: Money again, Visa advantages together with rental automotive protection for collision or theft, no upkeep or yearly charges 

Chase Freedom Limitless Credit score Card—How Does It Work?

The Chase Freedom Limitless Visa® helps customers earn 5% money again on journey booked utilizing Chase Final Rewards, 3% money again on eating and pharmacy purchases, and 1.5% money again on all different purchases. 

It provides a 0% introductory APR on purchases and steadiness transfers for 15 months after account opening. The APR is changeable after that, with charges starting from reg_apr,reg_apr_type. There’s no yearly payment for the bank card. 

Chase Freedom Limitless isn’t the best possibility for everybody, although. It may have a excessive APR, and it requires excellent to glorious credit score. So earlier than making use of, we advise having a rating of no less than 670.

Chase Freedom Limitless Visa® Assessment: General Card Score

Chase Freedom Limitless Visa® Assessment

With 84% of US adults having a bank card in 2021 and round 73% of People needing their first bank card by age 25, the Chase Freedom Limitless Visa® could also be a prime contender for a lot of resulting from its rewards system. 

Right here’s what it’s best to know earlier than you apply—

Professionals

  • No annual payment.
  • 1.5%–5% money again rewards.
  • Intro supply out there.
  • Versatile redeeming choices.

Cons

  • Excessive APR.
  • 3% international transaction payment.
  • $5 or 5% money advance and steadiness switch payment.

Chase Freedom Limitless Visa®—What We Like

No annual payment 

This card is a stable possibility in the event you’re seeking to save on bank card charges. 

The Chase Freedom Limitless® card has quite a bit to supply no matter how a lot or how little you utilize your bank card as a result of it has no annual payment.

Rewards

You may earn 5% on journey expenditures by Chase Final Rewards, 3% on drugstore purchases, eating out, and eating places (together with takeout and certified supply companies), and 1.5% on all different purchases because of the cardboard’s rewards program. 

There’s a max earnings, which means you’ll be able to solely earn money again as much as $20,000 yearly

Introductory supply 

This card has a number of introductory provides, and you should utilize all of them proper now. 

After spending $500 on purchases inside the first three months of opening your account, you’ll obtain a $200 bonus

Moreover, you may get 5% money again on as much as $6,000 in gasoline station purchases within the first yr. 

And if that wasn’t sufficient, you’ll get a 15-month introductory APR of 0% on purchases. 

Versatile redeeming choices

Though the Chase Freedom Limitless card provides money again, the incentives you get are within the type of Chase Final incentives factors

Because of this, calculating the worth of your rewards is a bit more troublesome, as a result of it’s a must to multiply the factors by one cent to be able to work out its worth as a press release credit score, a money deposit, or present card. 

Nonetheless, you’ll be able to switch factors on a 1:1 foundation and use Chase’s journey companions as switch companions, which makes incomes factors extra advantageous than incomes money rewards.

Different perks

There are various different perks with this card, too. This contains a free DashPass membership for Door Sprint for 3 months. For many who take pleasure in ordering in, that is implausible. The deadline for this bonus is December 31, 2024.

Inside 120 days of your buy, the cardboard will cowl broken or stolen items for a most of $500 per declare and $50,000 per account. As well as, three-year or shorter US producer warranties on objects purchased with this card are prolonged by an extra yr.

Insurance coverage for interruptions and cancellations of journeys is one other fascinating characteristic. It’s possible you’ll be entitled to compensation for bought tickets and non-refundable passenger expenses totaling as much as $1,500 per particular person and $6,000 per journey in case your journey is postponed or cancelled resulting from sickness, inclement climate, or different coated causes.

Chase Freedom Limitless Visa®—Issues To Maintain in Thoughts

Excessive APR 

The APR fee rises considerably after the introductory interval. 

For purchases and steadiness transfers, a fee between 19.49% and 28.24% is decided by your creditworthiness. The flat fee for money transfers may be very excessive at 29.49%. 

And in the event you don’t pay the minimal quantity inside 60 days of the due date, Chase expenses you a excessive penalty APR of 29.99%.

Overseas transaction payment

The international transaction cost for the Chase Freedom Limitless® is 3%, which is sort of costly. 

If you wish to journey the world or store at any worldwide retailers, it’s best to look into different journey bank cards.

Money advance and steadiness switch payment

Stability transfers will incur a payment of $5 or 5%, whichever is greater, beginning after the introductory interval. 

You must anticipate paying a payment of $10 or 5% of the full transaction quantity, whichever is greater, in the event you settle for money advances or withdraw cash out of your credit score account.

Chase Freedom Limitless Visa® Credit score Card Charges

Charges

Element

Annual payment

$0

Month-to-month upkeep payment

$0

APR

reg_apr,reg_apr_type

APR for money advances

cash_advance_apr

Stability switch payment

balance_transfer_fees

Money advance payment

cash_advance_fee

Overseas transaction payment

foreign_transaction_fee

Late payment

As much as $40

Minimal curiosity cost

1% of your revolving steadiness, plus curiosity and charges

Returned cost payment

As much as $40 

Chase Freedom Limitless Visa® in Questions and Solutions

What’s the Chase Freedom Limitless credit score rating wanted?

Whereas Chase doesn’t state a particular credit score rating that you simply want earlier than making use of for the Freedom Limitless card, many sources showcase that you want no less than a “good” rating—670 or greater

What’s the Chase Freedom Limitless credit score restrict?

The minimal credit score restrict for the cardboard is $500—however in the event you’re authorized for the Visa Signature® model, you may get no less than $5,000. The utmost restrict is round $40,000. 

How does the cardboard differ from the Chase Freedom Flex Visa® card? 

They’re comparable playing cards—each present 0% introductory APR charges and no annual payment. 

With the Chase Freedom Flex® card, although, cardholders can maximize their quarterly bonus money again primarily based on sure rotating classes. 

It’s because the Chase Freedom Flex® card earns 5% money again in recurring classes which might be activated quarterly after which 1% again on all different transactions, which is the first distinction between the 2 provides. 

As a substitute of rotating bonus classes, the Chase Freedom Limitless® provides a better money again fee of 1.5% on all non-bonus purchases and a unique sign-up bonus construction.

What revenue do you want for a Chase Freedom Limitless card? 

Fortunately for many shoppers, there isn’t a set annual revenue requirement to be eligible for this bank card

Nonetheless, Chase will have a look at different elements, together with your credit score rating, any potential delinquencies you’ve got, your debt-to-income ratio, and/or different onerous inquiries in your report. 

Is it onerous to get the Chase Freedom Limitless Card? 

Some individuals could think about it troublesome to get the Chase Freedom Limitless card. 

This is because of their minimal credit score rating required and different elements that they make the most of to see in the event you qualify for the cardboard. 

Nonetheless, if in case you have a good rating, and may make your funds on time, it’s best to qualify for the cardboard pretty simply. 

Are you able to get the Chase Freedom Limitless Visa® with no credit score?

No, you’d want no less than a “good” credit score rating (670 or greater) to qualify for the cardboard. 

For those who don’t have credit score, there are different playing cards that you could be qualify for—however the Chase Freedom card is best for individuals who have began their credit score historical past. 

Options to the Chase Freedom Limitless Visa®

The perfect alternate options for the Chase card are:

Blue Money Most popular® Card From American Categorical

Bank card

Score

Annual payment

Rewards fee

Intro supply

Blue Money Most popular® Card from American Categorical

4.2/5

4/5

5/5

5/5 

Why we prefer it

The American Categorical Blue Money Most popular® Card provides 6% money again at US supermarkets on as much as $6,000 in annual expenditure (1% afterward), along with 6% on a couple of US streaming companies, 3% at US gasoline stations, 3% on public transportation, and 1% on all different purchases

Whereas the primary yr’s annual payment is free, it prices $95 yearly after that. However this can be a nice alternative for individuals who spend some huge cash on groceries. 

Professionals

  • 6% money again on groceries. 
  • 3% money again on gasoline stations.
  • Money again as much as $20,000 of spending.
  • $250 bonus if you spend $3,000 inside the first six months.

Cons

  • Excessive APR of 18.74%–29.74%.
  • $95 annual payment after introductory interval. 

Citi® Double Money Card

Bank card

Score

Annual payment

Rewards fee

Intro supply

Citi® Double Money Card

4/5

5/5

5/5

3/5

Why we prefer it

The Citi Double Money card is a flat-rate money again bank card. It has no annual cost and provides 2% money again on all transactions (1% if you make the acquisition and 1% if you pay for it).  

It does, nevertheless, have an APR fee that begins at 18.74%—which is sort of excessive. And there are no promotions for spending a set sum all through your trial time period. 

Professionals

  • $0 annual payment.
  • 2% money again on all transactions, with no limits. 
  • 0% introductory APR for 18 months (together with for steadiness transfers).

Cons

  • Comparatively excessive APR of 18.74%–28.74%.
  • No introductory supply or bonus. 

Is Chase Freedom Limitless Credit score Card Good for Me?

If you wish to carry just one card, Chase Freedom Limitless® may help you get monetary savings by providing excessive money again charges on the vast majority of your purchases.

You may additionally profit from the cardboard’s 0% introductory APR if you might want to switch a steadiness or have giant purchases that you simply want to pay down over time.

You gained’t be charged curiosity on purchases or steadiness transfers for fifteen months—so long as you pay the minimal quantity due on time.

For those who proceed utilizing revolving credit score after the promotional time, make an effort to pay it off earlier than the cycle’s due date. 

However total, we’d say that this card is first rate—particularly when in comparison with different commonplace unsecured playing cards.

Chase Freedom Limitless Visa®—Helpful Hyperlinks

FAQ

What’s the Chase Freedom Limitless Factors Worth?

The Chase Freedom Limitless® card—regardless of being marketed as a cashback card—additionally generates Final Rewards factors. Every level is price one cent when transformed to money. In different phrases, it’ll take $75 spent (on common) to earn $1. 

What’s the Chase Freedom Limitless Card Cellphone Quantity? 

There could also be many the reason why you might want to name Chase customer support. Just a few could also be a misplaced or stolen card, needing a brand new card, or needing to replace your data. You may contact chase by way of their quantity 1-800-432-3117 or go to chase.com/customerservice for different chat choices. 

How do you get the Chase Freedom Limitless Visa® steel card?

Chase doesn’t supply a steel model of their Freedom Limitless card, solely their Sapphire model. The Chase Freedom Limitless card is fabricated from plastic.

Is Chase eliminating the Freedom card?

Chase discontinued their unique Freedom card, not the Freedom Ulimited Visa®. However if in case you have an unique freedom card, you’ll be able to cancel it by way of Chase’s customer support in the event you’d wish to.  

Does Chase supply a black card?

Sure, they do. However in contrast to the Freedom Limitless card, Chase’s Black Card comes with a hefty $495 annual payment. 

Sources

See all

Financial Effectively-Being of U.S. Households in 2021 | federalreserve.gov. Retrieved April 25, 2023, from https://www.federalreserve.gov/publications/information/2021-report-economic-well-being-us-households-202205.pdf

Chase Credit score Playing cards | chase.com. Retrieved April 26, 2023, from https://creditcards.chase.com/cash-back-credit-cards/freedom/limitless

Chase Freedom Limitless® | usnews.com. Retrieved April 26, 2023, from https://cash.usnews.com/credit-cards/chase/chase-freedom-unlimited

American Categorical | americanexpress.com. Retrieved April 26, 2023, from https://www.americanexpress.com/us/credit-cards/card-application/apply/prospect/phrases/blue-cash-preferred-credit-card/26129-10-0/

Citi® Double Money Card – 18 month BT supply Assessment | lendingtree.com. Retrieved April 26, 2023, from https://www.lendingtree.com/credit-cards/overview/citi-double-cash-credit-card/ 

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