Chase Freedom Rise®

The Chase Freedom Rise® is a credit card designed for those new to credit or looking to build their credit history. It offers a simple rewards structure and features aimed at helping cardholders establish good credit habits, making it an attractive option for credit beginners.

Key Features

• Annual Fee: $0
• Rewards Rate: 1.5% cash back on all purchases
• Welcome Bonus: Earn a $25 statement credit after signing up for automatic payments within the first three months of opening your account. With automatic payments, you pick a date and dollar amount to ensure your Credit Card gets paid on time.
• APR: 26.99% variable

Rewards and Benefits

The Chase Freedom Rise offers a straightforward rewards program:

• Cash Back Earning: Cardholders earn unlimited 1.5% cash back on all purchases, with no category restrictions or quarterly activations required. This simplicity can be particularly appealing for those new to credit card rewards.
• Redemption Options: Cash back can be redeemed as a statement credit or direct deposit into a Chase checking or savings account. There's no minimum redemption amount, allowing cardholders to access rewards whenever they want.
• No Expiration: Cash back rewards do not expire if the account remains open and in good standing.
• Credit Building Focus: The card is specifically designed to help those new to credit establish a positive credit history. Responsible use of this card can contribute to building a solid credit foundation.
• Credit Line Increase: Chase evaluates cardholders for a credit line increase in as little as 6 months. This can improve credit utilization ratios and overall credit scores.
• Free Credit Score: Cardholders get access to Chase Credit Journey, which allows them to track their credit score and receive alerts about changes to their credit report.
• Automatic Payments: The card encourages setting up automatic payments, which can help ensure on-time payments – a crucial factor in building good credit.

Additional Features

• Zero Liability Protection: Cardholders are not responsible for unauthorized charges made with their card or account information.
• Purchase Protection: Covers new purchases for 120 days against damage or theft 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.

Who Should Consider This Card?

The Chase Freedom Rise is particularly well-suited for:

• Individuals new to credit or with limited credit history
• Students or young adults looking to establish credit
• Those who want a simple rewards structure without the complexity of rotating categories
• People who prefer a no-annual-fee card while building credit

Considerations

While the Chase Freedom Rise offers many benefits, there are some factors to consider:

• The 26.99% variable APR is relatively high, which could be costly for those with a balance.
• The card lacks some of the premium benefits of other Chase cards, such as travel insurance or purchase protection.
• Approval may be easier for those with a Chase checking account with at least $250, though this is not a strict requirement.

The Chase Freedom Rise is an excellent option for those starting their credit journey who want to earn rewards while building credit. Its straightforward cash back structure and lack of annual fee make it an attractive choice for beginners. However, those with established credit may find more value in other cards with higher rewards rates or more extensive benefits.