| Last updated on January 22nd, 2024
Chase Freedom Rise
Chase Freedom Rise
Chase Freedom Rise
- 26.99% variable based on the Prime Rate Regular Purchase APR
- 26.99% variable based on the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
At a Glance
The Chase Freedom Rise Visa is a credit builder card that can help you earn cash back rewards and double your credit line fast. The card works best with an eligible Chase checking account, as having one can greatly improve your approval odds.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 1.5% in cash back for all of your purchases
- Earn a $25 bonus for enrolling in in the first three months
- $0 annual fee
- Increase your credit line with 6 on-time payments
- Regular Purchase APR: 26.99% variable based on the Prime Rate
- Balance Transfer APR: 26.99% variable based on the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
- Penalty APR: Up to 29.99%
- Foreign Transaction Fee: 3% of the amount of each transaction in U.S. dollars.
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- You have a Chase checking account with a $250 balance
- You want to earn unlimited 1.5% cash back on all purchases
- You are new to credit cards
- You don't want to pay an annual fee
In-Depth Review: Chase Freedom Rise
The Chase Freedom Rise Visa is a credit-builder credit card from JP Morgan Chase. The card is an ideal first credit card for the Chase banking customer, as it offers unlimited cash back rewards, no annual fee, and improved approval odds for select Chase checking customers.
Who Is the Freedom Rise Designed for?
What makes the Freedom Rise a unique offering is that being an existing Chase checking account customer can improve your approval odds. The Freedom Rise Visa is designed to help new to-credit Chase customers and provides opportunities to help guide them on a strong path to financial health and building credit.
How to Get the Freedom Rise
The Freedom Rise is unlike most other Chase credit products in that no credit history is required to apply.
Chase Checking Account Increases Odds
While not required, becoming a Chase checking account holder with a balance of $250 or more can increase the chances of approval. Ensure 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, especially if you are new to credit.
Only Available In-Branch
Unlike other Chase credit cards, the Chase Freedom Rise is only available at Chase branches (more than 4,700 across 48 states), where Chase bankers can help guide you through the application process. This in-person application process is old-fashioned but is still regularly required when opening a secured credit card with some smaller credit unions or regional banks.
Chase Freedom Rise Benefits
Simple $25 Welcome Offers
New accounts with the Rise also enjoy a simple, straightforward $25 welcome offer for enrolling in autopay. Enroll in your new Chase Freedom Rise in autopay in the first three months of account opening.
Double Your Credit Line
One of the most popular features of credit builder credit cards is the chance to double your credit line with on-time payments. Make at least the first six monthly payments on time, and you may earn a limit increase. These payments must be for the minimum due or more; zero balances don’t count, so you must use the card to qualify.
How to Earn Rewards with the Freedom Rise
The Freedom Rise earns an unlimited 1.5% cash back reward 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. 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.
How to Redeem Rewards
The value of Chase credit cards comes from the versatility of their rewards. Chase Freedom Rise cardholders can use their rewards (Chase Ultimate Rewards counts cash back as points – 1X points per 1% back) for statement credits or deposits into existing Chase banking accounts.
Additionally, cardholders can use points through the Chase Ultimate Rewards® portal. Redemption options include gift cards, Amazon or Apple purchases, or products through the Ultimate Rewards shopping portal.
Points never expire if the Chase credit card account is open and in good standing.
Other Card Features
The Freedom Rise Card earns additional incentives from Chase partners. These benefits include 5% back on Lyft rides through December 2024. New accounts also qualify for three complimentary months of DoorDash DashPass. DashPass provides free delivery on all DoorDash orders over $12
Visa Platinum protections and benefits, including the following:
| Zero Fraud Liability | Cardholder Inquiry Services | Emergency Card Replacement |
| Roadside Dispatch and Auto Collision Damage Waiver | Lost/Stolen Card Reporting | ID Navigator from Norton |
Comparisons
Looking for a credit card with no credit history? Here is how the Chase Rise compares with other popular offers:
| Chase Freedom Rise Visa® | Mission Lane Visa® | Applied Bank® Unsecured Classic Visa® | |
|---|---|---|---|
| Credit Increase | Potentially get a higher credit line after making your first 6 payments on time | Get a higher credit line after making your first 6 payments on time | Access additional credit with on-time payments and responsible usage |
| Annual fee | $0 | $59 | * See Terms |
| Apply Online? | No | Yes | Yes |
What We Like About the Freedom Rise
Good for Starters
The Freedom Rise is a starter credit card at its heart. And at this task, it performs admirably. It requires no credit history to apply, provides access to potential credit limit increases with financially responsible use, and offers basic cash back rewards on all purchases.
While the card is fairly narrow in its benefits, it is still a Chase credit card, meaning there are excellent opportunities to upgrade to another member of the Chase Freedom family – like the no annual fee Chase Freedom Unlimited®.
No Crazy Fees
Another nice feature of the Freedom Rise is its light fees. There are cash advances, balance transfers, and late and returned payment fees, but those are standard with almost all credit cards. The Rise doesn’t charge an annual fee, a program maintenance fee, or any other one-time charges seen on some other cards. This can help save you money as you establish a strong credit history.
Things to Consider
Checking Account Increases Odds
While the Freedom Rise is a versatile beginner credit card, there are things you should carefully consider before applying. For starters, applicants can improve their odds by opening a Chase checking account and keeping a balance of at least $250. That’s great for those with the funds to do so, but it is a frustrating extra steep for those who currently don’t bank with Chase but want to establish a credit history
Foreign Transaction Fees
The card charges a foreign transaction fee of 3% of each transaction in U.S. dollars. While this fee only applies to purchases made outside of the United States (online or in-store), it is an annoyance missing from other competitive cards. Discover’s student credit cards, for example, charge no foreign transaction fees.
Chase Ratings
How does the Chase Freedom Rise stack up? Here is a selection of expert reviews for the card, as well as an overview of JP Morgan Chase as a bank:
| BestCards | Better Business Bureau | TrustPilot |
|
4.5/5 |
3.5/5 |
2/5 |
Should You Apply for the Chase Freedom Rise Visa?
Is the Chase Freedom Rise worth considering if you are new to credit? If you currently bank with Chase the answer is an unquestioned yes. Chase is one of the best banks for credit cards – so getting in on the ground floor can be a real bonus. And since the card earns rewards in the form of Ultimate Rewards, there’s no limits to where your credit journey with Chase can take you – all the way up to the impressive Chase Sapphire Reserve!
Ultimately, the card only makes sense if you bank with Chase, especially since having an eligible checking account improves your approval odds. But other banks provide similar products, with local credit unions likely having something competitive you might also enjoy.
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