Welcome Bonus
Chase Freedom Unlimited® has a different bonus than most cards. You'll earn an extra 1.5% cash back on everything you purchase, up to $20,000 a year. This could potentially earn you as much as an extra $300, assuming you put $20,000 on the card.
Blue Cash Preferred® Card from American Express earns you a $250 statement credit after you spend $3,000 on your new card in the first 6 months.
The Chase bonus has the potential to earn slightly more money, but $20,000 is a significant amount to put on a credit card. You only need to spend $3,000 to get the bonus for the Blue Cash Preferred® Card from American Express, so it gets the win here.
Cash Back Rewards
Since Chase Freedom Unlimited® offers the elevated cash back for the first year, you get 6.5% cash back on travel booked through Chase Ultimate Rewards®; 4.5% cash back on drugstore purchases and dining; and 3% cash back on everything else. Note that this is only for the first year and only up to $20,000 in purchases. After that, you'll earn 5% cash back on travel, 3% on drugstore purchases and dining, and 1.5% cash back on everything else.
The Chase Freedom Unlimited® earns Chase Ultimate Rewards®. You can transfer your points to a Chase card that offers a bonus on these points, such as the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®, or transfer them to Chase's travel partners for even bigger rewards.
One of the most compelling reasons to get the Blue Cash Preferred® Card from American Express is its 6% cash back on groceries. This is an industry-leading cash back amount, even with the cap of $6,000 a year. You also get 6% cash back on select streaming services and 3% cash back on gas and transit. This includes tolls, ride share, parking, bus fares–almost anything associated with ground transportation. You also get a $7 monthly credit with an eligible Disney Bundle subscription, which includes Disney+, Hulu, and ESPN+.
Which card is a better choice for you is pretty subjective. Where do you spend the most money, and which card offers a better value? If you travel often, the Chase card might be a better fit. But if you spend more on groceries and spend your evenings streaming the latest hits, Blue Cash Preferred® Card from American Express might be a better value.
Here are the details for each card.
Chase Freedom Unlimited®
Rewards:
Blue Cash Preferred® Card from American Express
Rewards:
Rates and Fees
Both cards have a 0% introductory APR offer.
Chase Freedom Unlimited® offers 0% on both purchases and balance transfers for the first 15 months. After that, your rate will be 19.49% - 28.24% variable, depending on creditworthiness.
Blue Cash Preferred® Card from American Express offers 0% on purchases for the first 12 months. After that, your rate will be 18.49% - 29.49%, variable, depending on creditworthiness.
You get a longer period of time to enjoy the introductory rate with the Chase card, even if you transfer a balance, so this is a win for Chase.
Also, the Blue Cash Preferred® Card from American Express has an annual fee of $95, even though it's waived for the first year. The Chase card does not have an annual fee.
Chase Freedom Unlimited® has a slightly higher foreign transaction fee: 3% of the amount of each transaction in U.S. dollars. vs. 2.7% of each transaction after conversion to US dollars. You wouldn't want to take either card anywhere internationally because there are cards out there that don't have foreign transaction fees. We list several credit cards with no foreign transaction fees in our list of best travel credit cards.
Who the Chase Freedom Unlimited® is Best For
If you travel even once a year and don't want a card with an annual fee, you may find the Chase Freedom Unlimited® a good addition to your wallet. You may also decide to get a more premium Chase card later, such as the Chase Sapphire Preferred® Card. Then you can transfer your points to the Preferred card and get 25% more value for your points when you use them to book travel through Chase. Or you can transfer the points to a travel partner for possibly even more value.
You also get the elevated rewards on dining and drugstore purchases, so those who either eat out or order take out frequently will appreciate those benefits. And there's no annual fee, which is great.
Who the Blue Cash Preferred® Card from American Express is Best For
People who spend $6,000 a year on groceries (which is only $500 a month), and who have more streaming services than they can count will love the Blue Cash Preferred® Card from American Express. This card is also great for people who spend on gas, parking, train fares, or rideshares. Unlike the grocery category, cash back for gas and streaming is uncapped. It does have an annual fee, but it's not terrible, and it's waived for the first year.
You could always give it a try to see if it works for you and if you're not happy with it, you can cancel it or downgrade to a card with no annual fee, such as the Blue Cash Everyday® Card from American Express.
Also, check out our comparison of the Blue Cash Preferred® Card from American Express vs. Blue Cash Everyday® Card from American Express as these two cards do pair well with each other.
Approval Odds
The credit score data listed below comes from publicly available information in a number of forums. The accuracy of the information cannot be verified. Keep in mind that credit card issuers consider more than an applicant’s credit score and that underwriting standards change over time.
Chase Freedom Unlimited®
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 03/04/2022 | TransUnion | ||
| Approved | 03/04/2022 | Experian | ||
| Approved | 02/16/2022 | Experian | ||
| Approved | 02/16/2022 | TransUnion | ||
| Approved | 02/16/2022 | Equifax | ||
| Approved | 03/02/2022 | TransUnion | ||
| Approved | 06/07/2021 | Experian | ||
| Approved | 08/01/2021 | Equifax | ||
| Approved | 08/01/2021 | Experian | ||
| Approved | 08/01/2021 | TransUnion | ||
| Denied | 09/16/2019 | Equifax | ||
| Denied | 09/16/2019 | TransUnion | ||
| Denied | 06/13/2019 | Experian | ||
| Denied | 06/13/2019 | TransUnion |
Blue Cash Preferred® Card from American Express
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 05/17/2021 | Experian | ||
| Approved | 04/09/2022 | Experian | ||
| Approved | 04/09/2022 | TransUnion | ||
| Approved | 12/17/2021 | Experian | ||
| Approved | 12/17/2021 | TransUnion | ||
| Approved | 03/20/2022 | Experian | ||
| Approved | 07/21/2021 | Experian |
The Blue Cash Preferred® Card from American Express may entertain lower credit scores than the Chase card. Also, while all banks may look at opening multiple cards in a short time with some askance, Chase is well known for having an unwritten 5/24 rule. The rule means you likely won't be approved for a Chase card if you've opened five credit cards in the past 24 months. So, if you're thinking of applying for both cards, you may want to apply for the Chase card first.