Last updated on September 6th, 2023
Chase has debuted a new credit card designed especially for those new to credit. Called the Chase Freedom Rise, the new Mastercard offers unlimited cash back, no annual fee, and most importantly – improved credit access to those with no credit history at all.
Chase Freedom Rise Launches
A new credit card for first-time borrowers is launching soon. Chase Freedom Rise officially launched on June 11, 2023, and is available to apply for in-branch at Chase locations nationwide. The new card is tailored explicitly for individuals new to credit and looking to build their credit history. The card is available to both students and non-students alike, providing an opportunity for a wide range of individuals to establish their credit history.
About the Chase Freedom Rise
The Freedom Rise Mastercard earns an unlimited 1.5% cash back rewards on all eligible purchases. That earning rate is the same baseline earning rate found on the Chase Freedom Unlimited and a 50% improvement over the unlimited 1% cash back on the Chase Freedom Student credit card, which the Freedom Rise Card replaces. Like the other members of the Chase Freedom family, there’s no annual fee with the Freedom Rise credit card – a great perk on any credit-building journey.
While 1.5% back isn’t a game-changer, it is a lucrative rewards rate for any $0 annual fee card, let alone one with easier credit qualifications for those new to credit. The cash back takes the form of Chase Ultimate Rewards Points – one of the country’s most lucrative credit card currencies.
Ultimate Rewards offers incredible flexibility in redemption options like statement credits, deposits into attached bank accounts, travel, gift cards, and more. But Ultimate Rewards also transfer to more than a dozen partner brands, including prominent names in airlines and hotels:
| Aer Lingus (AerClub) | Air France/KLM (Flying Blue) | Emirates (Skywards) |
| Air Canada (Aeroplan) | British Airways (Executive Club) | Iberia Plus |
| JetBlue (TrueBlue) | Southwest (Rapid Rewards) | Singapore Airlines (KrisFlyer) |
| Virgin Atlantic (Flying Club) | United Airlines (MileagePlus) | IHG Rewards |
| Marriott Bonvoy | World of Hyatt |
This transferability is Chase Ultimate Rewards’ most significant asset. It provides an enticing – and exciting – prospect for all those rewards you earn while building a positive credit history.
Welcome Offer
New cardholders can earn a $25 statement credit by signing up for automatic payments within the first three months of account opening, offering an extra incentive to manage their account responsibly.
Chase Customers Enjoy Improved Approval Odds
What makes the Freedom Rise a unique offering is that being an existing Chase checking account customer can improve your approval odds. While not required, becoming a Chase checking account holder with a balance of $250 or more can increase the chances of approval for the Chase Freedom Rise card, which can be an exciting proposition if you are an existing Chase banking customer but might not otherwise qualify for a Chase credit card. Here’s a word of caution: make sure you have the $250+ in your eligible Chase checking account at least 48 hours before applying to the Chase Freedom Rise credit card. Doing so will increase your approval odds.
Double Your Line
One of the most popular features of credit builder credit cards is the chance to double your credit line with on-time payments. Getting a credit limit increase was initially a party trick of the Merrick Bank Double Your Line® Mastercard, but in recent years other cards have joined the bandwagon, including the Mission Lane Visa®, Surge® Platinum Mastercard®, and now the Chase Freedom Rise.
As with these cards, paying your bill on time with the Chase Freedom Rise can also help you increase your credit limit with the bank. Make at least the first six monthly payments on time, and you may earn a limit increase. These payments must be for the minimum amount due or more; zero balances don’t count, so you must use the card to qualify.
Check out our comprehensive Chase Freedom Rise credit card review for a more in-depth look at the new card.
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