The Chase Freedom Rise℠
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The information for the Chase Freedom Rise℠ has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
is a cash-back card designed for those starting to build a credit history. It earns above-average rewards on everyday spending and you don’t need prior credit to be approved.
Chase Freedom Rise basics
- Annual fee: $0.
- Welcome bonus: Earn a $25 statement credit after enrolling in autopay in the first three months of account opening.
- Rewards: 1.5% cash back on all purchases.
- APR: 26.74% variable APR.
- Other perks and benefits: Access to Chase Credit Journey for credit score monitoring; financial education resources; 24/7 fraud monitoring; purchase protection; extended warranty protection; trip cancellation/interruption insurance.
- Does it report to all three credit bureaus? Yes.
- Does the issuer offer a preapproval tool? No.
- Recommended credit score: New to credit / limited credit history.
About the Chase Freedom Rise
The Chase Freedom Rise Card is a new credit card designed for consumers who are just starting out on their credit journey. The card offers a pathway to credit approval for those who typically might not qualify due to thin credit files: Applicants who open a Chase checking account with a $250 balance within two days of card application will improve their chances of getting approved for a card.
Beyond the initial $250, there is no minimum balance requirement. Chase has many different checking accounts, some with no monthly service fees.
While the card doesn’t offer a traditional welcome bonus, cardmembers are eligible for a $25 statement credit after enrolling in autopay in the first three months of account opening. The lack of a welcome bonus is somewhat typical for credit cards with no annual fee, but especially for cards targeted towards building credit.
Those who are approved for the Freedom Rise will also have their account reviewed starting as soon as six months after account opening to see if they qualify for a credit line increase. A higher credit limit can lead to a better credit score, as the amount you owe on your card vs. the maximum limit you can charge (called credit utilization) is one of the main factors impacting your score.
With tools like free credit monitoring and educational resources, the Freedom Rise can be a way to build credit history with an established bank that provides services well beyond just credit cards and checking accounts. By building a relationship with Chase early, you might improve your chances of getting an auto or home loan with the bank down the line. You might even be able to eventually upgrade your card to one of Chase’s impressive rewards credit cards.
Want to understand how credit utilization works? Here’s everything you need to know.
Pros
- Accessible to those new to credit: The card is aimed at consumers who are just starting to build credit. Plus, those who open a Chase checking account increase their odds of approval for this credit card.
- Autopay bonus: Cardmembers can receive a $25 statement credit after enrolling in autopay in the first three months of account opening.
- No annual fee: The card has no annual fee, making it easy to hold on to long term without worrying about the cost.
- Earns above-average rewards: The card earns 1.5% cash back on all purchases, which is a great rate for someone with a thin credit profile. While there are flat-rate 2% cash-back cards, they typically require good to excellent credit.
Cons
- No welcome bonus: The card currently has no traditional welcome bonus.
- Not available to those rebuilding credit. If you have a blemished credit history, this is not the card for you, as it’s designed for those new to credit.
- High APR: At 26.74% variable APR, this card’s interest rate is on the high side. However, that’s typical of cards meant for consumers without prior credit history. As long as you pay your card off in full every billing cycle, you can typically avoid incurring interest charges thanks to your credit card’s grace period.
Not sure where your credit stands? Here’s what constitutes a poor credit score.
Chase Freedom Rise rewards
The Chase Freedom Rise card earns unlimited 1.5% cash back on all purchases, with no minimum redemption amount. This is a generous earn rate, considering most other starter credit cards offer just 1% cash back.
Using government data and other publicly available information, we estimate that a household in the U.S. that would be in the market for the Freedom Rise has $12,544 in expenses they are likely to be able to charge to a credit card. Here’s a breakdown of how much you could earn from credit card spending based on that:
The cardholder in this example earns a grand total of $188.16 cash back annually. Considering the lack of fees and relative accessibility, getting this card can be worthwhile if you charge your recurring expenses to this card. You can put the cash back you earn into an interest-bearing savings account, CD or other investment to grow your balance for a rainy day.
Just be aware, paying your balance in full every month is important so you don’t incur interest charges that negate the value of your cash-back rewards.
Perks
The Chase Freedom Rise offers some nice perks for a starter card, including:
- Purchase protection: Coverage for your purchases up to $500 per claim or $50,000 per account. This feature provides added peace of mind and could save you hundreds of dollars in case of theft or damage.
- Extended warranty protection: This extends the time period of the U.S. manufacturer’s warranty on eligible items you purchase with your card by an additional year, on eligible warranties of three years or less.
- Trip cancellation/interruption insurance: Get up to $1,500 per person and $6,000 per trip for pre-paid, non-refundable passenger fares, if your trip is canceled or cut short by sickness, severe weather or other eligible situations.
- My Chase Plan℠: This payment plan provides some flexibility for those just starting out on their credit journey. Through this program, you can break up qualifying purchases of $100 or more into monthly interest-free payments for a fixed monthly fee.
Credit-building features
The Chase Freedom Rise offers several credit-building benefits. For starters, the card is specifically targeted toward customers who are building their credit history. So, you may qualify for this card even if you haven’t had a credit card before.
You can also boost your odds of getting approved by opening a Chase checking account with a $250 balance within two days of applying. Considering Chase offers several types of checking accounts with no monthly fees (or at least with options for getting monthly fees waived), this is an easy extra step that won’t necessarily cost you anything.
You won’t have to maintain a minimum balance in this checking account to keep your Chase Freedom Rise card open. It’s a great way to access a credit-building card without paying a security deposit like you would with a secured credit card.
Besides being accessible to those who don’t have much in the way of credit history, the Chase Freedom Rise comes with access to educational resources so cardholders can make better-informed financial decisions. As an added perk, cardholders get access to My Chase Plan, which allows them to pay off purchases of $100 or more in fixed monthly payments (as opposed to paying interest).
How the Chase Freedom Rise compares to other credit cards
Chase Freedom Rise vs. Chase Freedom Flex℠
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The information for the Chase Freedom Flex℠ has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
On the surface, the Chase Freedom Flex℠
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The information for the Chase Freedom Flex℠ has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
appears fairly similar to the Freedom Rise. It earns 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on dining and drugstores and 1% cash back on all other purchases.
Plus, the Freedom Unlimited offers a 0% intro APR for the first 15 months on purchases and balance transfers, then a variable APR of 20.24% to 28.99%. There is an intro balance transfer fee of either $5 or 3% of each transfer, whichever is greater, in the first 60 days. Then the fee is the greater of $5 or 5% of each transfer. And if you have one of Chase’s premium Ultimate Rewards-earning credit cards, you can pool your rewards and use them to book travel at an elevated value through Chase’s portal or transfer them 1:1 to popular airline and hotel partners.
The card also offers a welcome bonus of $200 bonus after spending $500 on purchases in the first three months of account opening. But unlike the Freedom Rise, the Freedom Unlimited requires good to excellent credit (defined by FICO as a 670 or higher). Getting approved for this card will be more challenging than the Freedom Rise.
Chase Freedom Rise vs. Petal® 2 “Cash Back, No Fees” Visa® Credit Card
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The information for the Petal® 2 “Cash Back, No Fees” Visa® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
The Petal 2 (issued by WebBank) is similar to the Chase Freedom Rise card in that it’s an unsecured card designed for those with limited credit. The card has no annual fee and earns 1% cash back back right away and up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments. Plus, earn 2% to 10% cash back at select merchants.
The card also doesn’t carry foreign transaction fees, meaning you can use it abroad without added costs. It’s also unique in not requiring a security deposit and offering the chance for a relatively low starting APR. And the Petal 2 has no late fees, though you should still always pay on time, because late payments can severely damage your credit score.
The downside to the Petal 2 Card is that it’s not established by a major bank like Chase. That may be limiting if you want to do business with a bank that offers more than just credit cards.
Chase Freedom Rise vs. Discover it® Student Cash Back
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The information for the Discover it® Student Cash Back has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
If you’re a college student looking to start your credit journey, the Discover it® Student Cash Back
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The information for the Discover it® Student Cash Back has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
is a great option. The card requires no credit score, so virtually any student has a chance of getting approved.
It earns 5% cash back at different places each quarter up to the quarterly maximum once activated and 1% cash back on all other purchases. The best thing about this card is that Discover will automatically match all the cash back earned at the end of the first cardmember year.
The card has no annual or foreign transaction fees, making it an excellent choice for budget-conscious students who want to build their credit.
Should you get the Chase Freedom Rise?
Considering the low barrier to entry, the Chase Freedom Rise Card is an excellent first card for anyone who wants to establish and build credit history. This is an excellent alternative if you don’t qualify for a student credit card and want to avoid the security deposit required for a secured card. The Freedom Rise is already targeted towards the new-to-credit demographic, but opening up a Chase checking account can further improve your chances of approval.
When embarking on your credit journey, building a long-term relationship with an established bank is often ideal. Chase is a major financial institution that offers an array of top-ranked credit cards, mortgages, auto loans and everything in between. The Freedom Rise Card provides a great opportunity to build credit and a relationship with a major bank.
The card also has no annual fee or security deposit requirement, meaning you don’t have to consider recurring costs for keeping it open (as long as you always pay in full to avoid interest).
The Chase Freedom Rise may not be a great fit for those with a more established credit history who want a rewarding credit card. While the cash-back rate is great for a starter card, there are better options for those with established credit. For example, the Chase Freedom Flex℠
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The information for the Chase Freedom Flex℠ has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
earns 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on dining and drugstores and 1% cash back on all other purchases.
Chase Freedom Rise Card summary
Frequently asked questions (FAQs)
The Chase Freedom Rise card’s credit limit will be decided by the issuer at the time your application is approved and will depend on various factors, such as your income and credit score.
Anyone with limited or no credit history can be eligible for a Chase Freedom Rise. You can increase your odds of approval by opening a Chase checking account. That said, as with any credit card, approval is never guaranteed.
Probably not. The Chase Freedom Rise is geared toward those who are new to credit, not those who are rebuilding from poor or fair credit. If that’s your situation, take a look at our recommendations for the best cards for bad credit instead.
If you’re not sure where your credit falls, here’s how to check your credit score and the different tiers it can fall into with the FICO and VantageScore credit scoring models.
