4.3/5
Chase Freedom Rise®
- Best for: Students and first-time cardholders who can keep $250 in a Chase checking or savings account
- What Sets It Apart: Freedom Unlimited’s 1.5% rate with no security deposit, a $25 autopay credit and an automatic yearly review for an upgrade
- Cost: $0 annual fee; 3% foreign transaction fee; 18.24% to 27.74% variable rate with no intro period; balance transfer fee 5% ($5 minimum)
- Features: 1.5% cash back on all purchases; 3% on dining for the first 6 months on up to $6,000; $25 statement credit for enrolling in autopay; credit line increase review in as soon as 6 months; yearly upgrade review; free Credit Journey score tracking; purchase protection and extended warranty; rewards never expire
- Pros: No deposit; same rate as Freedom Unlimited; $25 for a habit worth building anyway; a path to a better card
- Cons: 3% foreign transaction fee; no intro rate; approval leans on a Chase deposit; dining bonus is temporary
Chase Freedom Rise is the no-annual-fee Visa Chase built for people with little or no credit history. It suits students and first-time cardholders who would rather earn rewards than post a security deposit, and it sets its own bar for graduating to a better card.
Key Features
- $0 annual fee and a 3% foreign transaction fee, with a variable rate of 18.24% to 27.74% and no intro period
- 1.5% cash back on every purchase, plus 3% on dining for the first 6 months on up to $6,000, a limited-time offer
- $25 statement credit for enrolling in automatic payments within 3 months and staying enrolled for 90 days
- At least $250 in a Chase checking or savings account raises your approval odds, and a credit line increase review comes in as soon as 6 months
- Automatic yearly review for an upgrade to Freedom Unlimited after 12 months of on-time payments to every lender
Pros
- A $250 Chase balance raises approval odds, and there’s no security deposit to tie up
- The 1.5% rate matches Freedom Unlimited, so building credit costs nothing in rewards
- The 6-month dining offer is worth up to $90 extra by our math, on top of the $25 for autopay
- Purchase protection of $500 per item for 120 days and free score tracking through Credit Journey
Cons
- No intro rate, so a carried balance costs 18.24% or more from the first statement
- 3% foreign transaction fee rules it out for spending abroad
- The $250 must sit in the Chase account within 4 days of applying, and Chase says it is neither a requirement nor a guarantee
- The dining bonus ends after 6 months, and the upgrade is a yearly review, not a promise
Open Chase Freedom Rise® if you have $250 to park at Chase and no credit history to speak of, then set up autopay for the $25 and let the yearly review move you to Freedom Unlimited. If you already qualify for Freedom Unlimited, skip the starter and take its 3% dining and 15 months at 0% instead.
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