New Chase Freedom Rise Card Builds Credit While Earning Rewards

» Update

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.

» MORE: Best starter credit cards for no credit

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.