Why we like this card: The Chase Freedom RiseSM is a great starter credit card that allows those who are new to managing credit build a good score and earn rewards on their spending.
Pros
- No credit history required
- No annual fee
- $25 bonus for setting up autopay
Cons
- No welcome bonus
- No introductory APR
- Foreign transaction fee
Chase Freedom Rise: Overview
APR
- Intro: N/A
- Purchase: 26.99% variable
- Balance transfer: 26.99% variable, plus a fee of either $5 or 5% of the amount of each transfer, whichever is greater
- Cash advance: 29.99% variable (plus a fee of either $10 or 5% of the amount of each transaction, whichever is greater)
- Penalty: N/A
Annual fee: $0
Foreign transaction fee: 3%
Late payment fee: up to $40
Prospective cardholders who haven’t built up a credit history often find it difficult to qualify for a traditional credit card. The Chase Freedom Rise is a cash back card designed for those who are looking to build a credit score from scratch while earning rewards on their spending.
For applicants with no credit history, you can improve your approval odds by having a Chase checking account with a balance of at least $250. Additionally, as a Chase cardmember, you'll be evaluated for a credit line increase in as soon as six months.
Chase Freedom Rise: Rewards
The Chase Freedom Rise has a simple rewards structure: earn an unlimited 1.5% back on purchases.
Now through March 31, 2025, cardholders also earn 5% cash back on Lyft rides. That's 3.5% cash back in addition to the 1.5% cash back you already earn.
New cardholders can also earn a $25 statement credit after signing up for automatic payments within the first three months of opening an account.
How to redeem Chase Freedom Rise rewards
There are a few different ways to redeem your cash back rewards.
Get straight cash
The most straightforward option for getting cash back is to have your rewards direct deposited to your checking or savings account, or to receive a statement credit. There is no minimum to redeem cash back this way.
Shop with Points at Amazon
Another convenient option for using cash back rewards: link your Chase Freedom Rise card to your Amazon.com account and instantly redeem cash back to pay for part of all of eligible Amazon.com orders at checkout, including tax and shipping.
Redeem for gift cards
Chase offers a variety of gift cards and certificates for shopping, dining and entertainment, and more, which you can purchase using cash back rewards.
Book travel
Cash back rewards can also be used to book your travel with Chase Ultimate Rewards for competitive rates and flexible ways to pay.
Additional benefits
In addition to earning cash back, cardholders also enjoy these perks and benefits:
- Purchase protection: New purchases are covered against damage or theft for 120 days up to $500 per claim and $50,000 per account.
- Extended warranty protection: Extends the time period of the U.S. manufacturer's warranty by an additional year, on eligible warranties of three years or less.**
- Trip cancellation/interruption insurance: If your trip is canceled or cut short by sickness, severe weather, or other covered situations, you can get reimbursed up to $1,500 per person and $6,000 per trip for your pre-paid, non-refundable passenger fares.
- Complimentary DashPass: Receive three months of free DoorDash membership, which provides unlimited deliveries with $0 delivery fee and reduced service fees on eligible orders on DoorDash and Caviar. After that, you are automatically enrolled in DashPass at 50% off for the next nine months. You must activate this offer by December 31, 2024.
- Complimentary Instacart+: Receive three months of free membership to Instacart+, which provides unlimited deliveries with $0 delivery fee and reduced service fees on eligible orders. After that, you will be automatically enrolled in an annual Instacart+ membership unless you cancel. You must enroll in this offer by July 31, 2024. Once enrolled, you can also earn up to $10 in statement credits each quarter through July 31, 2024 when they make eligible Instacart purchases with your Chase Freedom Rise card.
Is the Chase Freedom Rise right for you?
There are several cash back cards on the market that offer comparable rewards and perks to the Chase Freedom Rise card. This credit card is ideal for those who don’t have a well-established credit history yet and are looking to qualify for a traditional cash back card.
Credit cards similar to the Chase Freedom Rise
If you’re looking to open a new credit card, it’s a good idea to compare a few options first. Here are a couple of alternatives to the Chase Freedom Rise to consider.
Capital One Platinum Card vs. Chase Freedom Rise
If your credit isn’t in the best shape, another credit card to consider is the Capital One Platinum card. This card is available to applicants with fair credit. And though it doesn’t pay cash back like the Chase Freedom Rise, it does come with a few extra perks, including $0 Fraud Liability, emergency card replacement, credit score tracking with CreditWise, no annual fee, and no foreign transaction fees.
Discover it Chrome for Students vs. Chase Freedom Rise
Another great card for those just starting out with managing credit is the Discover it Chrome for Students. Like the Chase Freedom Rise, there is no credit score required to apply for the Discover it Chrome for Students. The card also comes with generous cash back rewards: 2% back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, plus unlimited 1% back on all other purchases. Additionally, during the first year, Discover will match your cash back earnings dollar-for-dollar with no cap.
Frequently asked questions
Is the Chase Freedom Rise a good card?
The Chase Freedom Rise credit card is a good option for those who want to build good credit while earning a competitive flat cash back rate on their purchases.
Is it hard to get approved for Chase Freedom Rise?
The Chase Freedom Rise card is not difficult to qualify for, even if you have limited credit history. However, those with a poor credit score who are attempting to rebuild their credit may not be a good fit.
What is the Freedom Rise Chase card?
The Freedom Rise card from Chase is a credit-building card that also pays cash back.
Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.
