Chase Freedom® Student Credit Card Review

Best for: students looking to build a higher line of credit

Starting your credit history can be scary, but Chase is here to help. This credit card requires you to apply at a Chase branch, where a professional will review options and help educate you on how to use your credit card. The automatic credit limit increase is also a sought-after feature,  as this type of trust can take years to earn with other credit card issuers.

The Basics of the Chase Freedom® Student Credit Card

  • APR: 17.24% variable 
  • Annual Fee: $0
  • Reward Rates:  1% unlimited cash back on all purchases and there’s no minimum amount for cash back point redemption. 
  • Intro Offer: $50 First Purchase credit that will appear on your account as 5,000 points when you use your card for the first time.

Chase Freedom Student’s Standout Features

  • Good Standing reward. Making on-time payments doesn’t only improve your credit score. When you have this card, it also earns you $20 every year for up to 5 years.
  • Credit limit increase. Chase believes in rewarding responsible credit use, and will automatically raise your credit card limit after five months of on-time payments. Remember that having a higher credit limit doesn’t only give you the ability to buy more, but it can raise your credit score, too.
  • Maximize your reward rates using the Chase Ultimate Rewards Portal.
  • Lock/Unlock feature. Things get misplaced, it happens. This credit card can be locked, freeing you from any purchases made while the card isn’t in your possession. This is ideal if you know you left your card at a restaurant, bar, business, or even a friend’s house.
  • Tap to Pay. With the rising use of skimmers, you can use Tap to Pay wherever it’s accepted. By not swiping your card, you protect yourself from identity theft.

Best way to use the Chase Freedom® Student credit card

Students need a chance to prove that they can handle a credit card. Chase Freedom Student credit card gives them the opportunity to do this. This card even provides a yearly thank you in the form of a $20 bonus on the card’s anniversary for up to 5 years.

Students can also use this card without having to worry about activating quarterly bonuses. Simply make purchases knowing you’ll earn 1% cash back on all purchases. These points can then be exchanged for cash back into your account, applied to your current credit card balance or for one of the many gift cards available at Chase. 

It’s fair to say that students have enough on their plate with classes, tests and cram sessions. That is why Chase has made everything as easy as possible, from earning 1% cash back on all purchases to having countless options on how to spend these points.

In a nutshell

Starting your credit journey should be fun and should have incentives. Chase has you covered with a $50  bonus after you make your first purchase, along with a $20 annual (up to 5 years) thank you bonus when you keep your account in good standing and an automatic credit limit increase after making five on-time payments during the first 10 months of having your card.

Chase is vigilant of your financial safety, which is why it includes the Tap to Pay on this card. This protects you from identity thieves who use skimmers to replicate your credit card. This card also allows you to lock your card if you can’t find it and unlock it once you have it again. Locking your card means that your card cannot be used for anything, and if a purchase does go through when the card is locked then you’re not responsible for it.

Many credit card companies can offer you points, but Chase Freedom Student credit card offers you many more benefits as you start your journey into the credit world.

Dan Marzullo

Personal finance writer and the founder of Marzullo & Associates

Dan lives in Colorado Springs, CO and typically spends his days buried in a booth at a local coffee shop. Ideas flow best with a cup of coffee in one hand and a bagel in the other.