This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. What is written in the article is the editor's opinion.
- I’m dumping the Chase British Airways Visa – and you should, too
- Loving Citi More Than Ever – Time to Cancel Other Cards?
- Update: Denied for Chase Freedom Unlimited – DIAF!
UPDATE 3/31: I was denied. 🙁
Chase will soon (in April 2016) extend their restrictive 5/24 rule to all their card offerings, including co-branded and small business credit cards. And presumably to the new Chase Freedom Unlimited card when it launches online.
The 5/24 rule means if you’ve opened 5+ cards within the previous 24 months, you’ll be instantly denied for a new Chase card. I’m suddenly no longer their target market.
It’s the last week of March, which means this is my last crack at opening up that Chase Marriott Premier card or a Chase Ink Cash, for example.
Instead, I went with the Chase Freedom Unlimited, which will be available for online applications on April 7th, 2016.
However, you can apply in-branch or over the phone right now. (Or at the bottom of this page.)
So today, I strolled over to the Chase bank 2 blocks away on my lunch break (I still haven’t grocery shopped since getting back from Vipassana) and applied in-person for the new Chase Freedom Unlimited.
I love how the acronym for this card is, endearingly, FU.
Why I applied for the Chase Freedom Unlimited (FU)
- Link: Apply for Card Offers
1.5 Chase Ultimate Rewards points for all purchases, with no cap!
And, the points transfer 1:1 to Chase Ultimate Rewards transfer partners like United and Hyatt, if you have the Chase Sapphire Preferred, Chase Ink Plus, or Chase Ink Bold.
That’s the best earning rate on non-bonus spend of any card that earns Chase Ultimate Rewards points.
I’d value that earning rate for the long-term above any current (one-time) sign-up bonus because of how flexible Chase Ultimate Rewards points are.
Because I always make sure each of my points are worth at least 2 cents each, so that’s equal to 3% back to me. Which is great for a card with no annual fee.
Even better, it seems that phone and online applications for the Chase FU are immune – for now – from the 5/24 rule. But I fully expect this rule to be enforced by the time it launches online April 7th, 2016.
So if you’re interested, apply in the next couple of weeks!
Not instantly approved
The Chase banker I met with was very up-to-date about the new Chase FU card.
He was, of course, more than happy to process my application.
I’ve heard of many peeps getting approved instantly in-branch, which gave me hope.
But, I was told I’d hear back in 7-10 days regarding a decision. Drat!
I did, however, confirm the sign-up bonus of 15,000 Chase Ultimate Rewards points ($150) after spending $500 within the 1st 3 months.
I was really hoping for an instant approval so I wouldn’t have to worry about it. Plus, it’s a Freedom card, which doesn’t require an excellent credit score – and mine is well over 750 at the moment. So theoretically, I should’ve been a shoo-in.
I called the reconsideration line to see if I could usher this toward approval, and the rep was ice cold. Told me the same line about “wait for a decision.” Which is probably better, because at least they didn’t deny me.
Chase really does seem to be tightening up fast.
With that thought, I do believe right now is your best chance to get this card if you’re interested. Call a Chase rep from one of your current cards, or visit a branch to apply. They are definitely aware of this card, and of the new rules.
Chase is erecting a wall a mile high. AMEX has a once per lifetime rule on all cards now. And even with Citi, I had no luck getting a $350 annual fee on Citi Prestige by applying in-branch.
I’ll let you guys know if I end up getting the Chase Freedom Unlimited card – cross your fingers for me!
Either way, this last dance with Chase is aptly named, for both of us: FU.
FU, too, Chase. I love Ultimate Rewards, but this is just getting gross.
Let me know if you have’ve had any experiences with Chase lately, or the new Chase FU card! And here’s the link if you want to apply.
BEST Current Credit Card Deals
- Amex Starwood Small Business Card - 35,000 Starwood points - My review of this offer.
- Chase Sapphire Reserve - 50,000 Ultimate Rewards points - My review of this card.
- Discover it® Cashback Match™ Card - $50 after 1st purchase within 3 months of account opening - Why I love this card!
- Hilton Surpass Amex - 85,000 Hilton points - Why I picked up this card.