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You are here: Home / Credit Cards / Chase Freedom Unlimited® vs. Blue Cash Preferred® Card from American Express

Chase Freedom Unlimited® vs. Blue Cash Preferred® Card from American Express

March 9, 2023 by Gail Kellner

A "daily driver" credit card provides solid cash back and works well as a card for everyday purchases: the card you reach for most often. Two great options are Chase Freedom Unlimited® and Blue Cash Preferred® Card from American Express. We compare these cards so you can decide which one to apply for, or if you want to apply for both.

Chase Freedom Unlimited®
Chase Freedom Unlimited®

Overall Rating

4.9

Welcome Offer

$200 (terms apply)

Rewards Range

1.5% - 5%

Annual Fee

$0

Regular APR (V)

19.49% - 28.24%

0% Into APR on Purchases

15 months, then a variable rate

0% Intro APR on Transfers

15 months, then a variable rate

Foreign Transaction Fee

3% of the amount of each transaction in U.S. dollars.

Read Review
Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express

Overall Rating

4.5

Welcome Offer

$250 (terms apply)

Rewards Range

1%-6%

Annual Fee

$95

Regular APR (V)

18.49% - 29.49%

0% Into APR on Purchases

12 months, then a variable rate

0% Intro APR on Transfers

None

Foreign Transaction Fee

2.7% of each transaction after conversion to US dollars.

Read Review

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:

5% cash back
Travel
Earn 5% cash back on travel purchased through Chase Ultimate Rewards
3% cash back
Drugstores
Earn 3% on drugstore purchases
3% cash back
Dining
Earn 3% cash back on dining at restaurants, including takeout and eligible delivery services
1.5% cash back
On all other purchases
Earn 1.5% cash back on all other purchases

Blue Cash Preferred® Card from American Express 

Rewards:

6% cash back
U.S. supermarkets
6% cash back on groceries up to $6,000 per year in purchases at U.S. supermarkets, then 1%
6% cash back
Streaming services
6% cash back on select U.S. streaming subscriptions
3% cash back
Gas
3% cash back at U.S. gas stations
3% cash back
Transit
3% cash back on transit, such as taxis, rideshare, parking, tolls, trains and buses
1% cash back
On all other purchases
1% cash back on all other eligible purchases

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 StatusDateCredit ScoreBureauCredit Limit
Approved03/04/2022
724
TransUnion
$13,900
Approved03/04/2022
726
Experian
$13,900
Approved02/16/2022
772
Experian
$18,000
Approved02/16/2022
778
TransUnion
$18,000
Approved02/16/2022
803
Equifax
$18,000
Approved03/02/2022
793
TransUnion
$12,700
Approved06/07/2021
782
Experian
$4,700
Approved08/01/2021
772
Equifax
$13,200
Approved08/01/2021
773
Experian
$13,200
Approved08/01/2021
818
TransUnion
$13,200
Denied09/16/2019
758
Equifax
---
Denied09/16/2019
762
TransUnion
---
Denied06/13/2019
612
Experian
---
Denied06/13/2019
613
TransUnion
---

Blue Cash Preferred® Card from American Express 

App StatusDateCredit ScoreBureauCredit Limit
Approved05/17/2021
675
Experian
$2,000
Approved04/09/2022
780
Experian
$6,000
Approved04/09/2022
787
TransUnion
$6,000
Approved12/17/2021
680
Experian
$1,000
Approved12/17/2021
692
TransUnion
$1,000
Approved03/20/2022
673
Experian
$1,000
Approved07/21/2021
681
Experian
$1,000

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.

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About Allcards.com

Rob Berger founded allcards.com in 2008 to help consumers make data-driven decisions about credit cards and banking. A retired trial attorney, he’s written about credit cards, banking and personal finance since 2007, and is the author of Retire Before Mom and Dad.

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