Chase Freedom Unlimited and Bank of America Cash Rewards are both cash back cards with attractive bonuses and 0% introductory APRs. Which is the better card depends on one’s preference between flat-rate rewards and rewards rates that vary by purchase category. Freedom Unlimited offers 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). Bank of America Cash Rewards gives 3% cash back in a category of your choice and 2% back at grocery stores and wholesale clubs (up to $2,500 spent quarterly), plus unlimited 1% cash back on all other purchases.
Bank of America Cash Rewards has a slightly higher first-year bonus. It gives $200 to people who spend $1,000 within the first 90 days of opening an account. Freedom Unlimited offers an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back. But their intro APR terms are similar. Each card has a 0% intro rate on purchases and balance transfers. It’s also worth noting that neither card is an ideal travel companion, as there’s a 3% foreign transaction fee on all international purchases.
If you have excellent credit, you have the luxury of picking whichever of the two cards has the best terms for the types of transactions you’re trying to make. But people with “just” good credit may only be able to get Chase Freedom Unlimited.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines
. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.