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3. Chase Freedom Rise® Credit Card review: A rewards-earning starter card

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Rating: 0 out of 5.

Editors’ Take: Chase Freedom Rise® is a good starter card that helps people build credit from scratch while also earning cash back. There’s no security deposit and no annual fee, which makes this card stand out in the credit-building space.

Annual Fee: $0

The average credit score for members who have matched with this card or similar cards is 669

The average credit limit for members who have matched with this card or similar cards is $2,138

Explore more about this card:

• Pros and cons
• In-depth Editorial review

Here’s the average credit limit of members who matched their Chase Freedom Rise® Credit Card or similar cards.

% of members by credit limit range

The average credit limit for members who have matched with this card or similar cards is $2,138, with $500 being the most common.

Here’s the average credit score of members who matched their Chase Freedom Rise® Credit Card or similar cards.

% of members by credit score range

The average credit score for members who have matched with this card or similar cards is 669, with 746 being the most common. Note this is just one of the deciding factors when it comes to getting approved.

This content is curated by Intuit Credit Karma’s Editorial team using data from members who were approved for this card or similar cards, or who self-matched this card or similar cards. Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse this content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Member stats

Updated daily

36.4%

Average credit utilization (or what percent of the card’s credit limit is being used) of members who matched with this card or similar cards.

30 years

Average age of members who matched this card or similar cards.

$66,297

Average annual income of members who matched this card or similar cards. Note: Income may be estimated for some members by Credit Karma and may differ from members’ actual incomes.

Pros and cons

Image: yes

Earn cash back rewards

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Potential credit limit increase after 6 months

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Credit score tracking

Image: Con

Potentially high APR

Image: Con

Chase checking and savings customers have better chances of approval

Chase Freedom Rise® is a good starter card for people who are building credit and want to bank with Chase. You’ll earn 1.5% cash back on every purchase, and Chase will review your account automatically for credit limit increases.

If you’re considering applying for the Chase Freedom Rise®, keep in mind that this card was designed for students, young adults and other people who are building credit for the first time. It’s not meant for people with poor credit who want to improve their credit after a setback.

Chase Freedom Rise® at a glance

• Annual fee: $0
• Security deposit: None
• Credit limit: $2,138 average for Credit Karma members who matched this or a similar card
• Purchase APR: 18.49% to 27.99% variable
• Penalty APR: 29.99% variable

Chase Freedom Rise® best features

Earn cash back rewards

With the Chase Freedom Rise®, you’ll earn 1.5% cash back on all purchases. That’s a solid rewards rate, particularly since it’s combined with no required minimum to redeem cash back.

Chase also gives you a $25 statement credit if you enroll in automatic payments within three months of opening your account and stay enrolled for at least 90 days.

Potential credit limit increase after six months

When your account has been open for six months, Chase will automatically review it to see if you qualify for a credit limit increase. A higher credit limit makes it easier to keep your credit utilization, the amount of credit you use compared to the total amount available, low.

Credit utilization is one of the most important factors that affect your credit scores, and experts typically recommend keeping it below 30%. If it goes above that threshold, you may start to see a drop in your credit scores.

After a year, you may be eligible for an upgrade to the Chase Freedom Unlimited® card, which offers additional cash back categories. Chase reviews accounts automatically, and the review doesn’t involve a hard credit check, so it won’t affect your credit scores.

Credit score tracking

Chase Freedom Rise® gives you access to your VantageScore 3.0 credit score. You can see when your score changes, by how many points and why. You’ll also receive a personalized plan with recommendations for improving your score.

The card’s identity monitoring feature alerts you if your personal information is compromised in a data breach or found on the dark web. These notifications can prompt you to take steps, such as disputing errors on your credit reports and freezing your credit, to minimize potential damage to your finances.

What are the drawbacks of the Chase Freedom Rise®?

Potentially high APR

With a variable purchase APR of 18.49% to 27.99%, interest charges can add up quickly if you carry a balance from month to month, increasing the amount you owe and your credit utilization rate. Plus, you’ll be charged a penalty APR of 29.99% and a late payment fee of up to $40 after a single late payment.

To keep your balance manageable and your credit utilization low, prioritize paying your bill in full and on time every month. If you can’t pay the total amount due, aim to pay more than the minimum to reduce the interest that accrues.

Chase customers have better chances of approval

You don’t need to be a Chase customer to apply for the Chase Freedom Rise®, but Chase says it’ll improve your chance of being approved. Applicants who have at least $250 in a Chase savings or checking account are more likely to qualify than those who don’t.

How to build credit with the Chase Freedom Rise®

To make the most of your Chase Freedom Rise®, start with small purchases that keep your credit utilization below 30%, and make your payments on time every month. With a positive payment history, you may qualify for a credit limit increase in as little as six months and a card upgrade after a year.

Take advantage of the $25 statement credit Chase offers for setting up autopay. This way, you won’t miss a payment — and you’ll get a bonus. Use the credit score tracking feature to see how your card usage affects your VantageScore 3.0 credit score, and get personalized recommendations for improving your credit.

If you receive an alert from the card’s identity monitoring feature, review your credit reports right away and dispute any errors you find. You may also want to freeze your credit to prevent fraudsters from opening new accounts in your name.

You can check your VantageScore 3.0 credit scores from Equifax and TransUnion for free anytime with your Credit Karma account. You can also get free copies of your credit reports from all three credit bureaus once a week at annualcreditreport.com.

Other cards to consider

• Capital One Quicksilver Secured Cash Rewards Credit Card: This card may be a good alternative for people who don’t bank with Chase and have the cash on hand for a security deposit.
• Capital One Platinum Secured Credit Card: This card may be a good choice if you’re looking to rebuild your credit history after a setback rather than starting from scratch.
• Bank of America® Unlimited Cash Rewards credit card for Students: This card is a good option for college students who want to earn cash back and build credit.

Are Credit Karma Approval Odds accurate?

Credit Karma’s Approval Odds provide a window into credit card and personal loan offers you’re more likely to be approved for. Offers with Outstanding Approval Odds have your highest likelihood of approval for offers on Credit Karma.

Approval Odds are built on advanced models that look at many data points to provide you with a reliable estimate.

To do this, Approval Odds consider …

• Thousands of data points
• Insights from 20+ score versions
• Criteria that lenders actually use
• Your credit profile

Keep in mind that while Approval Odds use statistical analysis, the final approval decision rests with the credit card issuer after you submit a formal application.

*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the card shown, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.