Is Chase Freedom Rise® a good credit card option for students?
Quick insights
- Freedom Rise is a credit card tailored for those with little to no credit history, such as students, and offers a path to build a financial foundation.
- Cardmembers earn a flat 1.5% cash back on every purchase, providing consistent value without the need to track rotating categories or complex rewards structures.
- Having an established Chase checking or savings account with at least a $250 balance may be considered when reviewing your chances of approval.
Selecting your first credit card is a big decision that can set the tone for future credit opportunities; Chase Freedom Rise may help support your long-term goals. Let’s see how Freedom Rise could help your financial future.
Is Freedom Rise a good option for students?
The Freedom Rise card may be a useful entry-level choice for young adults who are ready to move beyond "training wheels" financial products. The Freedom Rise credit card has a low annual fee and is geared toward starters who want to establish a credit score and credit history.
While some starter credit cards require a security deposit, Freedom Rise is an unsecured card, meaning you can keep your cash in your savings while still building credit. This independence can help students manage their own cash flow without the need for a secured line. The card may also offer a path to more premium Chase products as your score improves over time.
Features of Freedom Rise for student life
This starter credit card provides a broad variety of benefits designed to fit the busy and often unpredictable schedule of a college student. These features include:
- Cash back rewards: You can earn an unlimited 1.5% cash back on every dollar you spend on purchases, turn your purchases (such as textbooks) into rewards.
- Referral bonuses: Current cardmembers can earn a $25 bonus for every friend who is approved for their own account, up to a $250 annual limit.
- Instant Digital access: You can add your new card to a digital wallet after you are approved.
- Automatic credit limit reviews: The issuer may automatically evaluate your account for a credit limit increase after a period of on-time payments. A higher limit may help lower your utilization ratio, which can positively impact your credit score.
Identifying your student credit card options
Before you commit to a specific card, you may wish to evaluate a range of student credit card options to help you make sure that you are getting the best value for your spending habits. Some cards may prioritize "good grade" rewards, while others focus on travel protection or high cash back rates in certain categories.
How to apply for a Freedom Rise credit card
Applying for a Chase Freedom Rise credit card can be completed either in person at a branch or through a mobile app or official website. When applying for your first credit card, you may need a few important things ready, such as your Social Security number (SSN) and current housing information. Below are a few helpful tips to consider before you start the application process:
- Check deposit status: Having a Chase checking account and depositing at least $250 before applying may help improve your chances of approval.
- Provide income proof: Check to see that you are accurately reporting all sources of income, including scholarships, work study, grants and documented financial support from your parents. This total figure helps the lender determine your ability to manage a credit line responsibly.
- Verify personal info: Verify that your address and phone number match your official identification to avoid delays in the verification process. A typo in your SSN, for example, can stall an application.
- Review agreement terms: You may want to read the cardmember agreement to understand your annual percentage rate (APR) as well as any potential fees. Being informed about your legal responsibilities can help you stay in control of your account from day one.
The bottom line
The Chase Freedom Rise card may be a useful option for starters looking to build credit with a flat rewards rate and a low annual fee. By maintaining a Chase deposit account and making consistent on-time payments, you can begin to establish a financial reputation that supports your future goals.
