The new Chase Freedom Student card is a great introduction to the Ultimate Rewards family for students new to credit card rewards.
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On June 9, Chase announced the launch of a new card tailored toward college students – the Chase Freedom® Student. The card is designed for students to start earning rewards while improving their credit history and financial health. Students over 18 who are approved for the card will enjoy the following benefits:
1 percent cash back on every purchase
Cardholders will earn 1 percent cash back on every purchase they make, with no limit to how much they can earn. Once you’ve earned rewards, you can redeem them for cash back, travel, Apple purchases and much more.
$50 sign-up bonus
New cardholders are eligible to earn a $50 sign-up bonus after making their first purchase on the card within the first three months.
Good standing bonus
On top of a nice sign-up bonus, the Freedom Student card offers a $20 good standing reward on your account anniversary every year for the first five years – as long as your account is still open and in good standing.
Opportunities for credit limit increase
To help students improve their credit, the Freedom Student card automatically reviews accounts for a credit limit increase after five on-time payments in the first 10 months of account opening.
No annual fee
The Chase Freedom Student card will not charge an annual fee, so students can try it out without worrying about the cost.
The new card will be part of a slate of tools from Chase designed to encourage financial independence in young adults.
Chase Freedom® Student
Why should you get this card?
With cash back on every purchase and reasonable interest rates, the Chase Freedom Student card is a great introduction to credit cards for fledgling cardholders.
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A new competitor among student cards
The Freedom Student card is Chase’s debut in the student card space, and it is already set to be a top competitor. While it is not the first student card to offer 1 percent cash back on every purchase, a flexible rewards redemption scheme and automatic review for a credit limit increase set the card apart from the pack.
For students eager to get started in the rewards card realm, the card offers a first step into one of the most valuable rewards programs – Chase Ultimate Rewards. Plus, it encourages new credit cardholders to develop positive habits by rewarding on-time payments and good account standing.
Should you apply for the new Chase Freedom Student now?
For college students over 18 who are eager to start building credit and earning flexible rewards, the new Chase Freedom Student can be a great introduction to credit cards. Plus, you can earn a nice sign-up bonus just for making your first purchase on the card in the first three months.
If you’d like to apply, keep in mind that the Chase Freedom Student card is currently only accepting applications in Chase branches; it is not yet available online.