Chase Freedom Unlimited and Freedom Flex 5% Grocery Store Benefit Ends Tomorrow - CNBC

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If you spend significantly on groceries, you may want to consider applying for the Chase Freedom Flex℠ or the Chase Freedom Unlimited® soon. Both cards currently have a welcome offer that includes 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year. That's among the best return you can get from a credit card for spending on groceries.

The promotion will be ending by the end of the day on Jan. 12. So if you're interested, you will need to act quickly to grab this valuable offer.

Here's what you need to know if you plan on applying for either card in the next 24 hours.

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Chase Freedom Unlimited and Freedom Flex 5% cash back grocery store welcome offer

Chase Freedom Flex℠

On Chase's secure site

• Rewards

  Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year, 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 5% cash back on travel booked through the Chase Ultimate Rewards®, 3% on drugstore purchases and on dining (including takeout and eligible delivery services), 1% cash back on all other purchases

• Welcome bonus

  $200 cash back after you spend $500 on purchases in your first three months from account opening

• Annual fee

• Intro APR

  0% for the first 15 months from account opening on purchases and balance transfers

• Regular APR

  14.99% to 24.74% variable

• Balance transfer fee

  Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.

• Foreign transaction fee

• Credit needed

  Excellent/Good

Pros

• No annual fee
• Generous welcome bonus
• Opportunity to earn up to 5% cash back in select categories upon activation
• Rewards can be transferred to a Chase Ultimate Rewards card

Cons

• Bonus categories must be activated each quarter
• 3% fee charged on foreign transactions

• Estimated rewards earned after 1 year: $852
• Estimated rewards earned after 5 years: $2,844

Rewards totals incorporate the cash back earned from the welcome bonus

Chase Freedom Unlimited®

On Chase's secure site

• Rewards

  Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year, 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on drugstore purchases and on dining (including takeout and eligible delivery services), and 1.5% cash back on all other purchases

• Welcome bonus

  $200 cash back after you spend $500 on purchases in your first 3 months from account opening

• Annual fee

• Intro APR

  0% for the first 15 months from account opening on purchases and balance transfers

• Regular APR

  14.99% to 24.74% variable

• Balance transfer fee

  Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.

• Foreign transaction fee

  3% of each transaction in U.S. dollars

• Credit needed

  Excellent/Good

Pros

• No annual fee
• Long intro 0% APR period
• Rewards can be transferred to a Chase Ultimate Rewards card
• Generous welcome bonus

Cons

• Below average 1.5% cash back on non-bonus category purchases
• 3% fee charged on foreign transactions

• Estimated rewards earned after 1 year: $847
• Estimated rewards earned after 5 years: $2,709

Rewards totals incorporate the cash back earned from the welcome bonus

The sign-up bonus for both cards currently offers:

• $200 cash back after you spend $500 on purchases in the first 3 months from account opening.
• 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year

This means that if you were to maximize the grocery benefit, you could earn a maximum of $600 cash back over the course of the year. Additionally, each card also comes with a $200 bonus after you spend $500 in the first three months of card membership. This doesn't even account for each card's respective bonus spending categories, giving cardholders an opportunity to earn serious cash back on a wide variety of their purchases. At a minimum, you could come away with $800 in cash back in the first year if you maximize the welcome bonus.

And what's more is that neither card has an annual fee, making it easier to extract value immediately from the card.

Lastly, if you're looking for spending or borrowing flexibility, both cards come with a 0% intro APR offer on purchases and balance transfers for the first 15 months from account opening. After the intro period, a variable APR of 14.99%–24.74% applies. So if you're eyeing a home renovation project or need to transfer a balance from your holiday spending, either of these cards can help you avoid credit card interest.

Bottom line

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

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Chase Freedom Unlimited and Freedom Flex 5% Grocery Store Benefit Ends Tomorrow - CNBC
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