Chase Freedom Unlimited does not have transfer partners, unlike many other popular credit cards. Chase Freedom Unlimited rewards are redeemable only for cash back, gift cards, travel, purchases at Amazon.com, or a statement credit and cannot be transferred to another loyalty program.
Yes, the Chase Freedom Unlimited® is good for travel in the U.S. because it offers 5% on travel purchased through Chase and has a $0 annual fee. The Chase Freedom Unlimited Card also comes with travel benefits like rental car insurance, trip cancellation insurance, a travel emergency hotline and more.
What you should know about Chase Freedom Unlimited before traveling abroad… read full answer
The Chase Freedom Unlimited Card is not a good card to use for traveling abroad, though, because it charges a foreign transaction fee of 3% of each transaction in U.S. dollars. A better choice for international travel would be the Chase Sapphire Preferred® Card.
So, the bottom line is that the Chase Freedom Unlimited Card should meet the casual domestic traveler’s needs quite well. But if you travel internationally, you’re better off getting a card that has no foreign transaction fee. You may also want to consider cards with unique travel perks such as free checked bags and hotel room upgrades.
Yes, closing credit accounts can hurt your credit score in the short term, depending on how old the accounts are and how much other credit you have. But canceling a credit card account might also benefit your credit score in the long run if you manage the rest of your finances better as a result of having one fewer account to worry about.… read full answer
Here’s what happens to your credit score when you cancel a credit card:
Credit score drops: Your credit score often goes down because the average age of your open accounts decreases and your overall utilization increases (since you have less available credit).
Scores bounce back: Your credit score should rebound within 3-6 months of canceling your credit card account. Make sure to have at least one open credit card remaining and pay all your bills on time.
What happens if you don’t cancel: A credit card that is in good standing will continue to help your credit score. Even if you don’t make purchases with it, it will still report positive information to the credit bureaus each month. This is definitely worth considering if your card does not charge an annual fee.
Age matters: Closing newer accounts won’t have as much of an impact as closing older ones.
Limit matters: Closing low-limit accounts won’t do as much damage as closing high-limit ones.
When score drops matter: If you don’t need the best score possible for the 3-6 months it usually takes credit scores to bounce back after credit card cancelation, the temporary drop shouldn’t cost you anything.
Bottom Line: Avoid canceling your oldest card and your card with the highest credit limit. That will mitigate the amount of credit score damage. And if you have to close your oldest or highest-limit card, make sure you do it at a time when you don’t need your credit score to be at its best.
Chase Freedom Unlimited’s benefits include rental car insurance, roadside dispatch, trip cancellation/interruption protection, extended product warranties, and purchase protection. Both the Visa Platinum and Visa Signature versions of the Chase Freedom Unlimited card have those benefits. Chase chooses whether each Chase Freedom Unlimited applicant gets the Signature or Platinum version of the card based on the applicant’s credit history and ability to pay.… read full answer
Top Chase Freedom Unlimited Benefits:
Rental car insurance: Provides secondary coverage for up to 31 consecutive days against damage and theft, up to the actual cash value of rental vehicles paid for with the Chase Freedom Unlimited card. You’ll have to decline the rental agency’s insurance coverage to qualify, as well as file any claim within 60 days of theft or damage occurring.
Roadside dispatch: Includes 24/7 towing, tire changes, jump starts, fuel delivery and lockout service. $59.95 per service call.
Extended warranty: Extends U.S. manufacturer’s warranties on items purchased with Chase Freedom Unlimited by 1 year. Maximum coverage of $10,000 per claim, $50,000 per account. The original warranty can’t be longer than three years.
Purchase protection: Reimburses cardholders up to $10,000 per claim ($50,000 per account) for items purchased with the Chase Freedom Unlimited card that are damaged or stolen within 120 days of purchase.
Trip cancellation/interruption insurance: Pays up to $6,000 per trip cut short by sickness, severe weather or other covered events. Applies to travel expenses paid for with Chase Freedom Unlimited.
Other Chase Freedom Unlimited benefits include 24/7 fraud alerts and a $0 fraud liability guarantee, which protects you from having to pay for unauthorized charges to your account.
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