You should get the Chase Freedom Unlimited card if you want cash back rewards that cover broad spending categories and a chance to finance your purchases. On the other hand, the Amazon.com Credit Card makes for a good option if you’re a Prime member and your Amazon and Whole Foods purchases make up a significant chunk of your spending.
Both cards are currently issued by Chase and come with a $0 annual fee. But there are distinct differences between the two when it comes to earning rewards.
Chase Freedom Unlimited vs. Amazon.com Credit Card: How They Compare
Chase Freedom Unlimited
Amazon.com Credit Card
$50 Amazon.com gift card upon approval ($100 for Prime members)
5% cash back on travel through Chase, 3% back at restaurants and drugstores, and 1.5% back on all other purchases (plus an additional 1.5% cash back on everything, up to $20,000 spent the first year)
3 points per $1 spent at Amazon.com and Whole Foods Market, 2 points per $1 spent at gas stations, restaurants and drug stores, and 1 point per $1 spent on all other purchases (5 points / $1 on Amazon.com and Whole Foods purchases for Prime members)
Purchase Intro APR
0% for 15 months
15.24% - 23.99% (V)
14.49% - 22.49% (V)
$0 (to get the Prime version of the card and benefit from the 5 points / $1 rate, cardholders must be enrolled in a Prime membership
It's worth noting that the "cash back" rewards you earn with either card come in the form of points. Amazon.com Credit Card points are worth 1 cent apiece when you redeem them for travel, cash back, gift cards or Amazon.com purchases. On Chase Freedom Unlimited, cash back rewards are tracked as points that are worth 1 cent apiece when redeemed for cash back, gift cards or travel. They're worth up to 1 cent each toward Amazon.com purchases using the Pay with Points feature. In addition, because Chase Freedom Unlimited is an Ultimate Rewards card, you can transfer points to other Ultimate Rewards cards (like the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve®) to get more value toward travel.
You can get the best Chase Freedom Unlimited approval odds if you have a credit score of 700 or better. This means that this card requires at least good credit for high chances of approval. While your credit score is one of the most important factors, there are also various other factors that determine your Chase Freedom Unlimited approval odds.… read full answer
What You Need for Good Chase Freedom Unlimited Approval Odds
Good credit or better
Steady income that exceeds your existing financial obligations by a healthy amount
Low debt compared to income
Low housing costs compared to income
S. mailing address
Age of 18+
Social Security Number or Individual Taxpayer Identification Number
Keep in mind that many of these are guidelines rather than requirements. For example, you may have a low annual income but no debts and still get approved.
The Amazon.com Credit Card approval odds are good if you have at least a good credit score. Generally, the higher your credit score, the better your odds of approval are. However, your credit score is just one part of your creditworthiness. On its own, it does not guarantee approval.
If you have less than good credit, your approval odds are better for the Amazon.com Store Card. You’ll only need a fair credit score to have a reasonable shot at getting the card.
The tradeoff is that unlike the Amazon.com Credit Card, which you can use anywhere Visa cards are accepted, the Amazon.com Store Card is limited to purchases on Amazon.com and at retailers that accept Amazon Pay. And you’ll only get rewards from the store card if you’re a Prime member, unlike the Amazon.com Credit Card.
What you should know about the Chase Freedom Unlimited upgrade:
You can upgrade to Chase Freedom Unlimited once the Chase Freedom account has been open for at least 12 months.… read full answer
It should take just a few minutes to receive a decision, and it won’t hurt your credit score because there’s no hard inquiry.
If you’re approved for an upgrade from Chase Freedom to Chase Freedom Unlimited, you will not be eligible for the initial bonus. You will, however, benefit from the 1.5 - 5% cash back earn rates on your purchases 1 to 2 days after the product change.
The card number and APR will remain the same. But the new Chase Freedom Unlimited card will come with an updated 3-digit security code, so you will need to activate the card before you can use it.
To increase the odds of getting an upgrade, make sure your Chase Freedom account is in good standing. That means you should have a clean payment history and a low utilization ratio, preferably less than 30 percent of your overall credit limit.
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