New Chase Freedom Rise Card Builds Credit While Earning Rewards

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As of May 2024, a new feature has been introduced for the credit card. Cardholders' accounts will be automatically reviewed on their annual anniversary to see if they are eligible to upgrade to the Chase Freedom Unlimited® card. Terms apply. This option offers the chance to earn more rewards with elevated rates on travel booked through Chase and purchases made at restaurants and drugstores. For more information see our review of the Chase Freedom Rise®.

Building credit can be daunting for those just starting out, but the new Chase Freedom Rise℠ credit card can help ease that process — and make it more rewarding, too.

The latest addition to the Chase Freedom line of credit cards, the Freedom Rise is designed for new-to-credit consumers looking to start building their credit profile. The new card offers:

  • 1.5% cash back on every purchase, with no maximum.

  • $0 annual fee.

  • $25 statement credit when you enroll in automatic payments within the first three months of account opening.

Although online applications are available on its site, Chase says it prefers Freedom Rise applicants to visit a branch to speak with a banker and learn about educational tools that can help improve their financial health. Applicants can increase their chances of approval by having or opening a Chase checking account with a minimum balance of $250 within two days of submitting an application. Once approved, there is no minimum balance requirement, according to Chase.

The card also offers access to credit development resources and Chase Credit Journey, which allows users to track their credit score as it grows.

🤓Nerdy Tip

Though it's touted as a cash-back card, rewards earned come in the form of Chase Ultimate Rewards® points. Points are worth 1 cent each when redeemed as cash back.

Does the card rise to the occasion?

The Chase Freedom Rise joins a relatively short list of cards that don’t charge exorbitant fees and are available for people with no credit history. The 1.5% cash back earnings on all purchases are also solid for a credit-builder card.

You can be evaluated for a credit line increase in as soon as six months. If you're using your card responsibly, having a larger credit limit can help your credit score.

Since the card is part of the Chase Ultimate Rewards® program, you can eventually choose to upgrade to a more lucrative Ultimate Rewards® earning card once you build a credit profile. This will help buoy your credit score by allowing you to keep the same account age on your credit report while avoiding the hard inquiry that comes with opening a new card.

Chase Cards from our Partners
Chase Freedom Unlimited Credit Card

on Chase's website

Chase Freedom Unlimited®
5.0
NerdWallet Rating
Rewards rate

1.5%-5%

Enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

Cashback

Intro offer

Up to $300

Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!

Chase Sapphire Preferred Credit Card

on Chase's website

Chase Sapphire Preferred® Card
5.0
NerdWallet Rating
Rewards rate

1x-5x

5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases.

Points

Intro offer

60,000

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.

Points
Chase Freedom Flex

on Chase's website

Chase Freedom Flex®
5.0
NerdWallet Rating
Rewards rate

1%-5%

Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Earn 5% on Chase travel purchased through Chase Travel®, 3% on dining and drugstores, and 1% on all other purchases.

Cashback

Intro offer

$200

Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.

See more Chase cards

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