Chase freedom unlimited vs bank of america cash rewards

Q: Is Chase Freedom Unlimited hard to get?

Is Chase Freedom Unlimited hard to get? Youll need good to excellent credit to qualify for the Chase Freedom Unlimited®. Generally speaking, this is defined as a credit score of 690 or better. But a credit score alone isnt enough to qualify for any credit card.

Q: Is Chase Freedom Unlimited being discontinued?

If you have the Freedom card, your card wont be canceled, but you do have a few options about what you want to do. Current Freedom cardholders can continue to use their cards without any changes, or they can request a product change to another Chase card.

While they’re both $0-annual-fee cards, but the Chase Freedom Flex℠ and Bank of America® Customized Cash Rewards differ substantially in their reward structure. Chase’s card offers 5% cash back in quarterly rotating categories upon activation — on up to $1,500 in combined purchases per quarter, then 1%. BofA’s card offers 3% to 3% cash back in various everyday categories on up to $2,500 in combined bonus purchases each quarter, then 1%.

Table of Contents Show

Is Chase Freedom Unlimited hard to get?
Is Bank of America rewards worth it?
Is Chase Freedom Unlimited being discontinued?
Is Chase Freedom Unlimited a good card for travel?

It’s a little tough to compare these cards directly since their reward structures are quite different. Which you choose will ultimately come down to your spending habits. At the moment, the Chase card is a safer pick if you frequently shop at grocery stores since you can benefit from the 5% grocery category up to the cap during your first year. You also earn 5% back on Lyft rides until March 31, 2022. This is on top of the other 5% categories that rotate each quarter.

On the other hand, the Bank of America card may offer a long-term value because of its constant 3% cashback rate on select categories beyond the first year of card membership. But with the frequent reward program changes, there’s no guarantee that the long-term value will hold.

	Chase Freedom Flex℠ Terms apply, see rates & fees	Bank of America® Customized Cash Rewards Terms apply, see rates & fees
Finder rating
Finder rating	★★★★★ 4.7 / 5.0	★★★★★ 4.6 / 5.0
Best for
Best for	Long intro APR period and cash back in rotating categories	Best for flexibility of cashback categories
Welcome offer
Welcome offer	$200 after spending $500 in the first 3 months	$200 after spending $1,000 in the first 90 days
Rewards
Rewards	5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. 5% cash back on travel purchased through Chase Ultimate Rewards® 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, 1% cash back on all other purchases.	3% cash back on a chosen category and 2% at grocery stores and wholesale clubs for the first $2,500 each quarter combined, then 1% after that and on everything else
Purchase APR
Purchase APR	0% intro APR for 15 months, and then 17.99% to 26.74% variable	0% intro APR for 18 billing cycles, and then 16.99% to 26.99% variable
Annual fee
Annual fee	$0	$0
Balance transfer APR
Balance transfer APR	0% intro APR for 15 months (then 17.99% to 26.74%) $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days variable	0% intro APR for 18 statement closing dates (then 16.99% to 26.99%) variable
Cash advance
Cash advance	APR: 27.99% variable Fee: $10 or 5% of the transaction, whichever is greater	APR: 19.99% to 24.99% variable Fee: $10 or 5% of the transaction, whichever is greater
Foreign transaction fee
Foreign transaction fee	3% of each transaction	3% of each transaction
Late payment fee
Late payment fee	Up to $40	Up to $40
Additional cardholder fee
Additional cardholder fee	$0	$0
Interest-free period
Interest-free period	21 days	25 days
Minimum interest
Minimum interest	$0	$1.50
Minimum credit score
Minimum credit score	670	670
Card type
Card type	Credit	Credit
Learn more
Learn more	Read review

Steven Dashiell is Senior Writer, Personal Finance at Finder specializing in all things credit cards. With more than 300 articles under his belt, he aims to help readers embrace credit cards and maximize their rewards. Steve is studying to become a Certified Educator in Personal Finance, and is a frequent face on Finder’s YouTube channel, offering the latest in credit card hacks and advice. His expertise has been featured on numerous outlets, including U.S. News & World Report, NASDAQ, Time, CBS, Fox Business, Lifehacker, Martha Stewart Living and more.

More guides on Finder

Is Chase Freedom Unlimited hard to get?

Is Chase Freedom Unlimited hard to get? You'll need good to excellent credit to qualify for the Chase Freedom Unlimited®. Generally speaking, this is defined as a credit score of 690 or better. But a credit score alone isn't enough to qualify for any credit card.

Is Bank of America rewards worth it?

If you spend a lot on general purchases or have a lot of travel spending, Bank of America Preferred Rewards paired with a Bank of America credit card can absolutely be worth it. Earning 2.62% cash back on general purchases and 3.5% cash back on travel purchases are some of the highest cash-back earning rates available.

Is Chase Freedom Unlimited being discontinued?

If you have the Freedom card, your card won't be canceled, but you do have a few options about what you want to do. Current Freedom cardholders can continue to use their cards without any changes, or they can request a product change to another Chase card.

Is Chase Freedom Unlimited a good card for travel?

Yes! The Freedom Unlimited card is a great card. With no annual fee and rewards of 5% back on travel through Chase Ultimate Rewards, 3% back on dining and drugstores, and 1.5% cash-back on all other purchases. Plus, the rewards it earns are credited as Ultimate Rewards points.