Chase Freedom Rise Review 2024 (2024)

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The information for the following product(s) has been collected independently by Business Insider: Chase Freedom Rise℠. The details for these products have not been reviewed or provided by the issuer.

Introduction to the Chase Freedom Rise℠

The Chase Freedom Rise℠ is one of the best credit cards for consumers who are just beginning their credit journey. This card doesn't require prior credit history, and allows cardholders to earn rewards while building credit.

No-Annual-Fee Cash Back Card

The Chase Freedom Rise℠ is a simple cash-back credit card with no annual fee. Since the length of your credit history comprises 15% of your credit score, keeping your oldest credit card for the long haul is important. The Chase Freedom Rise℠ doesn't cost anything to maintain, which makes it easy to keep the card open for the sake of your credit.

Emphasis on Building Credit

The Chase Freedom Rise℠ is for consumers still building their credit history. As such, the card requires no prior credit history. That said, to increase your approval odds, Chase recommends opening a Chase checking account and depositing at least $250 within three days of applying for the card.

Part of the Chase Ultimate Rewards® Program

Despite being marketed as a cash-back card, the Chase Freedom Rise℠ earns Chase Ultimate Rewards points. These versatile points can be redeemed for cash back, travel, and gift cards at 1 cent per point.

You can also transfer the points earned on your Chase Freedom Rise℠ to another Chase credit card for additional value, which we'll discuss below in more detail.

Chase Freedom Rise℠ Rewards

The Chase Freedom Rise℠ offers solid rewards for a cash-back card aimed at consumers who don't have any credit history.Earn unlimited 1.5% cash back on purchases.

Here's a closer look at how to earn and redeem rewards with this card:

Welcome Bonus

The Chase Freedom Rise℠ doesn't currently offer a welcome bonus, but cardholders can receive a $25 statement credit for enrolling in automatic payments within the first three months. Most starter cards don't offer a welcome bonus, so the $25 autopay bonus is better than nothing.

How to Earn Rewards with the Chase Freedom Rise℠

The Chase Freedom Rise℠ has a simple reward structure: Earn unlimited 1.5% cash back on purchases. This rate is competitive for a starter credit card, and rewards are earned in the form of Chase Ultimate Rewards points.

How to Redeem Rewards with the Chase Freedom Rise℠

Points earned on the Chase Freedom Rise℠ can be redeemed for travel, gift cards, Amazon purchases, or cash back. Ultimate Rewards points are worth 1 cent each, and there's no minimum or maximum redemption amount.

Note: Points earned from the Chase Freedom Rise℠ can only be transferred to a Chase Freedom Unlimited® card. However, one of the best ways to get the most value out of your Chase Ultimate Rewards points is to upgrade to a premium credit card, such as the Chase Sapphire Reserve®, once your credit score is high enough for approval.

Doing so will unlock far better travel redemption opportunities because Chase travel credit cards such as the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card offer a value multiplier on travel booked throughChase Travel℠ on points. You can also transfer rewards on these cards to Chase Ultimate Rewards points travel partners, and enjoy better rates of redemption through Chase's Pay Yourself Back program.

Chase Freedom Rise℠ Benefits and Features

The Chase Freedom Rise℠ offers numerous practical benefits that provide peace of mind. Whether you're a frequent traveler or merely looking for everyday purchase protections, the card has you covered.

Automatic Evaluation for Higher Credit Limit

One of the most notable benefits of the Chase Freedom Rise℠ is that cardholders will be automatically evaluated for a higher credit limit in six months. After 12 months, your account will be evaluated for an upgrade to the Chase Freedom Unlimited®. This upgraded card has great benefits, including complimentary discounts on DoorDash, Instacart and Lyft, but remains annual fee-free.

Trip Cancellation/Interruption Insurance

Trip cancellation and interruption insurance is a valuable perk that can come handy if things go wrong while you're traveling. Since this benefit isn't even available on some travel rewards credit cards, it's a big selling point for the Chase Freedom Rise℠. Cardholders receive up to $1,500 per person (up to $6,000 per trip) towards pre-paid and nonrefundable travel expenses in case of an emergency.

Purchase Protection

New purchases on the Chase Freedom Rise℠ are covered for up to 120 days against damage and theft. This benefit is limited to $500 per claim and $50,000 per account.

Fraud Protection

Chase Freedom Rise℠ cardholders enjoy peace of mind thanks to a host of fraud protection benefits. The card includes 24/7 fraud monitoring and alerts and zero liability protection for unauthorized charges. The lock/unlock feature allows cardholders to block new account activity if the card goes missing.

No Security Deposit

The Chase Freedom Rise℠doesn't require a security deposit, though you can increase your chances of approval by putting at least $250 into a Chase checking account.

Chase Freedom Rise℠ Fees

The Chase Freedom Rise℠ doesn't have an annual fee, but there are a few others to be aware of.

Foreign Transaction Fees

Cardholders will pay a foreign transaction fee of 3% of the amount of each transaction in U.S. dollars on purchases originating abroad. So if you plan on traveling abroad or shopping online with international purchases, you might be subject to this charge.

Additionally, the card carries a 26.74% variable APR on purchases and charges fees for late payments and return payments.

Who Should Get the Chase Freedom Rise℠?

Ideal For:

  1. People new to credit
  2. Students looking to build credit history
  3. Budget-minded individuals who want a simple cash-back card
  4. Those who value no annual fee

Not Ideal For:

  1. Those seeking premium travel rewards or benefits
  2. People who want a card with rotating bonus categories or generous reward rates

Chase Freedom Rise℠ Card Comparison

There are limited card options available for consumers who are starting out on their credit journey. Most people with low or minimal credit can choose a secured credit card that requires a security deposit, apply for a store card, or become an authorized user on someone else's card.

If you're in the market for a starter credit card, the following cards are also worth consideration. These are our top picks.

Chase Freedom Rise℠ vs. Chase Freedom Unlimited®

If your credit is strong enough to be approved for the Chase Freedom Unlimited®, you should get this card. The Chase Freedom Unlimited® is the upgraded credit card that responsible Chase Freedom Rise℠ cardholders can get after 13 months of timely payment, and offers many of the same benefits — just better.

If you have good credit, this card is better suited to your credit profile and includes a nice welcome bonus of additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year).

The Chase Freedom Unlimited® is nearly identical to the Chase Freedom Rise℠ in that it earns 1.5% cash back on purchases outside of special categories. The no-annual-fee Chase Freedom Unlimited card also earns 3% cash back at drugstores, restaurants, takeout, and eligible delivery services. Cardholders also earn 5% cash back on travel booked through the Chase Travel℠ portal.

The Chase Freedom Unlimited® also has more travel protections than the Chase Freedom Rise℠, including secondary rental car coverage and travel and emergency assistance services.

Read more in our Chase Freedom Unlimited review.

Chase Freedom Rise℠ vs. Discover it® Secured Credit Card

The Discover it® Secured Credit Card card shares some similarities with the Chase Freedom Rise℠. This is a cash-back card issued by a major bank, designed for those with no credit history. If approved, the card requires a minimum security deposit of $200 (or more, in increments of $100 up to $2,500), which may be returned within as little as seven months with responsible usage.

The card earns 2% cash back at gas stations and restaurants (on up to $1,000 per quarter) and 1% cash back on all other purchases. This rewards structure might work out better if the majority of your spending calls into the 2% bonus category. Furthermore, Discover matches all of your rewards at the end of the first year.

The Discover it® Secured Credit Card has the added advantage of waiving foreign transaction fees, making it ideal for international travel.

Read more in our Discover it Secured credit card review.

Chase Freedom Rise℠ vs. Capital One® QuicksilverOne®

The Capital One QuicksilverOne Cash Rewards Credit Card earns unlimited 1.5% cash back on all purchases, just like the Chase Freedom Rise℠. However, the card has a $39 annual fee, which may be offputting for some people (rates and fees).

The Capital One QuicksilverOne Cash Rewards Credit Card can be a good fit if you're rebuilding credit, rather than just starting out. The card is targeted toward those with fair credit, which includes credit scores in the 580-669 range.

Another benefit of the Capital One QuicksilverOne Cash Rewards Credit Card is that it waives foreign transaction fees. Cardholders can also use it to get 50% off drinks at Capital One Cafes.

Read more in our Capital One QuicksilverOne card review.

Consumer Insights on the Chase Freedom Rise℠

In addition to our team's expert assessment of this card, we pulled cardholder feedback from popular online forums such as FlyerTalk and Reddit to see what everyday users think of the Chase Freedom Rise℠.

Attainability

Cardholders like the attainability of the Chase Freedom Rise℠, since it requires no credit history. It's rare to find cards for people with no credit history, let alone a rewarding card from a major bank like Chase.

Simple Rewards

Chase Freedom Rise℠ cardholders appreciate that the card earns 1.5% cash back on all spending. The simplicity of rewards is a significant advantage for people who want a single card for daily use.

Common Complaints

Some consumers complain about the card's low initial credit limit and foreign transaction fee. Others are concerned that the card primarily targets new consumers, sometimes to the exclusion of people who currently have low credit and are working to rebuild it.

Chase Freedom Rise℠ Frequently Asked Questions

Does the Chase Freedom Rise℠ have foreign transaction fees?

Yes, the Chase Freedom Rise℠ charges a foreign transaction fee of 3% of the amount of each transaction in U.S. dollars on purchases originating abroad.

What credit score is needed for the Chase Freedom Rise℠?

You're more likely to be approved for the Chase Freedom Rise℠ if you have a good credit score, but you may be able to qualify with fair credit. A good credit score is in the 670-739 range, while fair credit falls into 580-669.

Can I transfer Chase Ultimate Rewards® points earned with this card?

No, the Chase Freedom Rise℠ does not earn points that can be transferred to airline and hotel partners.

Why You Should Trust Us: How We Reviewed the Chase Freedom Rise℠

We evaluated the Chase Freedom Rise℠ with consumers in mind, evaluating this card against other options for building credit history. We considered several factors, including:

  • Access for consumers with low or no credit
  • Annual fee
  • Rewards for spending
  • Automatic upgrades for better credit cards

While most credit-building cards lack rewards, the Chase Freedom Rise℠ offers generous cash-back rewards with no annual fee. We also considered the benefit of automatically upgrading to the Chase Freedom Unlimited® after a year of responsible use.

While the Chase Freedom Rise℠ offers limited benefits compared to other cards, it provides a solid foundation for establishing a credit history. It's a good option if you're looking to build credit, assuming it aligns with your credit-building goals and spending habits.

Learn more about how we rate credit cards at Business Insider.

Ariana Arghandewal

Ariana Arghandewal is a credit card and reward travel expert and is the founder of Pointchaser. She has worked as an editor at The Points Guy, NerdWallet, and FlyerTalk.Her work has also appeared in Forbes, Fodor's Travel, and U.S. News Weekly.

Angela Fung

Marketing Compliance Manager

Angela Fung is the Compliance Manager for Business Insider'sPersonal Financedivision, overseeing a team that ensures content accuracy and editorial independence so readers are always getting up-to-date and objective financial advice.The compliance team's mission is to maintain reader trust by confirming stories are fact-checked and current so that readers can make informed financial decisions. The team also works to minimize risk for partners by maintaining clear, precise language that is compliant with regulatory and partner marketing guidelines that align with the editorial team.

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Chase Freedom Rise Review 2024 (2024)
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