Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.
If you're a college student who isn't ready to throw a graduation cap into the air just yet, take a look at the hat Chase just tossed into the ring.
A few months ahead of the new semester, the issuer has launched Chase Freedom Student, a credit card designed for those still in school. As of June 9, 2019, students can apply for the card, but only at a Chase branch. Chase calls that an effort "to encourage a conversation with students and their parents."
Key features of the card include:
A $0 annual fee.
Unlimited 1% cash back on all purchases. Chase says rewards can also be redeemed for travel through Chase Ultimate Rewards®, or for things like gift cards for shopping, dining and more.
A bonus offer: Earn 5,000 points after making your first purchase within the first three months. That's redeemable for $50 cash back.
A $20 Good Standing Reward, available annually for the first five years if you keep your account current.
Reporting to all three credit bureaus — TransUnion, Equifax and Experian.
Free credit score access through Chase’s Credit Journey, a website that tracks your credit.
An automatic credit limit increase after five on-time payments made within 10 months of opening an account.
An opportunity to upgrade to the Chase Freedom® or Chase Freedom Unlimited® after graduation with a qualifying credit score.
The Chase Freedom Student card is aimed at providing young adults with tools and information that can guide them on a strong path to financial health and independent credit building, a Chase spokesperson said by email.
Chase said the product will have "a low credit limit" and "APRs ordinarily reserved for our most creditworthy customers," but didn't provide specifics.
The card’s 1% cash back rate is decent for a student credit card, although it's possible to find more lucrative offers. The free credit score access, automatic credit limit increase and potential upgrade opportunity all make it a solid option for a newcomer to credit. Keep in mind that what's most important with a student card is using it to establish a positive credit history. Learn more in our guide to choosing a student card.