Chase Freedom Unlimited Just Launched a $200 Bonus and 5x Points on Groceries

A man pushing a full grocery cart up to the cashier's register.

Image source: Getty Images

The Chase Freedom Unlimited® credit card consistently ranks highly among credit cards. It has an unlimited 1.5% cash back rate on every purchase, plus it includes some great introductory offers and doesn't charge an annual fee.

While it was an excellent cash back credit card before, Chase has just given it a major upgrade. As of July 24, new cardholders get two limited-time bonus offers. Considering the value they offer, these perks are a good reason to consider the Chase Freedom Unlimited® credit card.

What the Chase Freedom Unlimited® credit card offers

Chase has added the following limited-time, new-cardholder bonuses to the Chase Freedom Unlimited® credit card:

  • $200 sign-up bonus: Spend at least $500 on purchases in the first three months from account opening, and you'll get $200 back.
  • 5% back on grocery store purchases: This special rate is valid for up to $12,000 in grocery store purchases, and lasts for one calendar year from account opening. Note that Chase isn't counting Target or Walmart as grocery stores, so purchases at those stores won't qualify for 5% back.

Those are in addition to the card's existing features, which include:

  • 5% back on Lyft rides: Through March 2022.
  • Unlimited 1.5% back: This applies to all non-bonus category purchases.
  • 0% intro APR: This applies to purchases, and lasts for 15 months.

Several credit cards offer 1.5% back on every purchase, but they almost never have bonus categories. This Chase card does, and 5% back on groceries is an extremely high rate in one of the biggest expense categories consumers have.

The Chase Freedom Unlimited® credit card is a leader in several areas and doesn't have any glaring weaknesses. If you want to maximize your rewards, it has one of the top cash back rates and sign-up bonuses. This card also has one of the longest 0% intro APRs on purchases -- perfect for major expenses or big purchases.

It's a tough card to beat, especially since it doesn't cost you a thing. The only complaint (among those who already have the card) is the limit on its 12-month 5% cash back rate at grocery stores: it's only available to new customers.

What you need to get the Chase Freedom Unlimited® credit card

If you want to apply for the Chase Freedom Unlimited® credit card, you'll likely need a good credit score or better to get approved. To put that into numerical terms, a FICO® Score from 670 to 739 is considered good credit.

Chase also has a unique application rule for its credit cards. It's called the Chase 5/24 rule, and it means your application is automatically denied if you've opened five or more credit cards within the last 24 months.

It's the right time to apply

It's not hyperbole to say this is the perfect time to get the Chase Freedom Unlimited® credit card. These are the best bonuses the card has had to date, and they give it a strong combination of valuable perks.

There probably won't be a better offer with this card anytime soon, especially since it already offers so much. But it's a limited-time deal, so it could go away at any moment. If you're interested, it's a good idea to apply soon and take advantage of an offer that doesn't come around often.

Don't pay credit card interest until nearly 2022

The Ascent just released a free credit card guide that could help you pay off credit card debt once and for all. Inside, you'll uncover a simple debt-cutting strategy that could save you $1,863 in interest charges paying off $10,000 of debt. Best yet, you can get started in just three minutes!

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

The Motley Fool

Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Learn More