PhotoChase is now advertising a new credit card, the Chase Freedom Unlimited Card, a companion to its Chase Freedom Preferred.

While the Preferred pays 1% cash back on most purchases, and 5% on rotating categories, the Unlimited, as its name implies, pays 1.5% cash back on an unlimited amount of everything, with no annual fee.

The card has four main features that make it attractive. First, the aforementioned 1.5% cash back on every purchase. Other cards usually have caps.

You can redeem for cash back at any time, and the rewards you rack up don't expire, assuming your account remains active.

Bonus cash

The card also pays a $150 bonus after you spend $500 during the first three months the account is open. If you add an authorized user, you earn another $25 reward, if that user also makes a purchase during the first three months.

The Unlimited also has a 15 month introductory rate of 0% APR on purchases. That would allow you to finance a significant purchase and pay for it over 15 months without paying any interest.

If you want to transfer a balance from another card, you get the same 15 month introductory period at 0% interest. However, there is a 5% balance transfer fee.

After the 0% introductory period, the variable interest rate on both purchases and balance transfers is 14.24%, 19.24%, or 23.24%, depending on creditworthiness.

Consumer protections

Like many credit cards, the Unlimited comes with some consumer protections. In case of fraud, the cardholder has zero liability. It also allows you to decline a rental car company's collision damage waiver, providing replacement coverage at no extra charge, as long as you use the card to pay the entire cost of the rental car.

There is also an insurance policy of sorts on new purchases. The Unlimited's Purchase Protection feature covers your new purchases for 120 days against damage or theft up to $500 per claim and $50,000 per account.

Its price protection feature can make sure you always get the best price. If a card purchase made in the U.S. is advertised for less in print or online within 90 days, you can receive the difference, up to $500 per item and $2,500 per year.

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