Chase Freedom Unlimited Offers: $150 + 1.5% vs. 3% Cash Back

The Chase Freedom Unlimited card usually has a signup bonus of $150 after $500 in spend within the first three months, with a flat 1.5% cash back rate. Chase recently released an alternative new offer for the Chase Freedom Unlimited to earn 3% cash back on all purchases within the first year.

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Chase Freedom Unlimited (Normal offer)

  • No annual fee
  • Sign up bonus: $150 after $500 in purchases within the first 3 months of account opening
  • Earn 1.5% cash back on every purchase

Chase Freedom Unlimited (New alternative offer)

Important note: the new alternative offer does NOT come with a signup bonus. 

If you have a Chase Sapphire card, you can transfer the points you earn from the Chase Freedom Unlimited for even better value.

  • Redeem points for 1.25x in travel if you have the Chase Sapphire Preferred
  • Redeem points for 1.5x in travel if you have the Chase Sapphire Reserve

Breakeven Point

Depending on how you value Ultimate Rewards points and if you have a Chase Sapphire card, the breakeven point varies based on the cents per point (CPP) valuation. 

CPP can range from 1-3 depending on:

  • 1 CPP = cash out
  • 1.25 CPP = Chase Ink Preferred or Chase Sapphire Preferred travel portal
  • 1.5 CPP = Chase Sapphire Reserve travel portal
  • 2-3 CPP = Transfer partners


  1. Access the spreadsheet here:
  2. File -> "Make a Copy" OR "Save a Copy."
  3. Enter the amount of annual spend in the TOP RIGHT YELLOW box.

Chase Freedom Unlimited $150 + 1.5% Cash Back Offer

For most people who have normal everyday spend, I recommend going for the regular offer of $150 for $500 in spend. Since it takes $10,000 to breakeven with the new offer, you could easily hit the minimum spend of 2-3 additional cards. 

Chase Freedom Unlimited 3% Cash Back Offer

If you're running a business or have high ad spend, the new alternative offer of 3% cash back is your best bet. 

Typically growth/marketing/user acquisition at early-stage (seed/A/B) startups or ad agencies.

  • Chase Ink Preferred 3x caps off at $150,000/year
  • Amex Business Gold Rewards caps off at $100,000/year

With $1,000,000 in ad spend, you're still left with $750,000 in minimum spend ability.

Why run so many ads?

Imagine if your average customer yielded a lifetime value of $100. If your customer acquisition cost was $10, you just "made" $90 by running ads. Alternatively, you're burning money to find product-market fit.