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Chase has been changing up the reward structures on its credit cards, the most recent of which is the Chase Freedom Unlimited card. Previously, the Freedom's standard bonus was $150 cash back (15,000 points) after spending $500 in the first three months. Now, the Freedom offers 3% cash back on all spending for the first $20,000 during the first year. One way to look at this offer is that in lieu of the original cash back bonus, Chase is simply offering to double all your usual cash back (originally at 1.5%) to 3% during the first $20,000 in spend.

Double that cash back

Chase Freedom Unlimited

Cash back is paid out as points worth a fixed 1 cent each and never expire so long as you keep the account open. The card does not have an annual fee, so there's no reason not to keep it near the top of your wallet for a long time to come. We also love the card's 120-day purchase protection that covers damage or theft up to $500 per claim.

As you may know, the Freedom Unlimited becomes even more potent when paired with another card that earns Chase Ultimate Rewards points, such as the excellent Chase Sapphire Preferred® Card. If you have such a card, you can use your points from the Freedom on the Ultimate Rewards (UR) portal. And since Chase UR points are estimated to be worth 2 cents each versus just 1 cent of the Freedom, you're basically doubling the value of your points with this setup. Thus, imagine you maxed out the welcome offer, earning up to $600 in cash back (60,000 points). If you were able to use them in the UR portal, those same points would bring about $1,200 in value. That's a pretty incredible deal.

If you're someone who already has access to the UR portal and wants to earn more cash back on items like groceries or gasoline, the Chase Freedom Unlimited would be a good way to boost your rewards power. Conversely, if you're new to maximizing credit card points and benefits, the Freedom Unlimited, with this signup offer, would be a good first card to earning a relatively high cash back in your first year of spend. Across the spectrum, this is one of those cards that has a good reason to be in most wallets.

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