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Attention students: there’s a credit card that can earn rewards, increase your credit, and build your relationship with a top card issuer. The Chase Freedom® Student credit card is one of the latest cards Chase has added to its lineup. There’s also a bonus offer to earn on this no annual fee card.
The Chase Freedom Student Credit Card
As mentioned above, the Chase Freedom® Student credit card has a $0 annual fee. It is also a contactless card.
Cardholders can earn:
- 1% cash back on all purchases
So, you can earn 1% cash back rewards for every $1 spent, regardless of the purchase.
Cash Back rewards are tracked as points. Each $1 in Cash Back Rewards that you earn is equal to 100 points.
$20 Good Standing Rewards
Cardholders can also earn $20 Good Standing Rewards after each account anniversary, for up to 5 years. They’ll earn 2,000 points which can be redeemed for $20 after each account anniversary for the first 5 years.
To earn the Good Standing Rewards, the account must be open and in good standing (not in default).
$50 Bonus Offer
New Chase Freedom® Student credit card cardholders can earn a $50 bonus after making their first purchase, so long as it is made within the first 3 months from account opening.
You will receive 5,000 bonus points with this bonus offer, which can be redeemed for $50 cash back.
However, note that Chase states that “this product is not available to either (i) current cardmembers of this credit card, or (ii) previous cardmembers of this credit card who received a new cardmember bonus for this credit card within the last 24 months.”
Credit Limit Increase
Chase Freedom Student Credit Card cardholders can also earn a credit limit increase after making 5 monthly payments on time within 10 months from account opening and meeting credit criteria.
Note that only one payment per billing cycle can qualify. Payments must be at or above the minimum due amount to qualify. In regards to this offer, a zero balance will not qualify as an on-time payment. Late payments within the 10 month period will disqualify you from this offer.
You can also get free credit score management with Chase Credit Journey. Credit Journey provides you with personalized insights to help you build, monitor, and protect your credit health.
The annual fee for the Chase Freedom Student credit card is $0.
However, there is a 3% foreign transaction fee (3% of each transaction in U.S. dollars).
So, if you’re studying abroad, you may want to consider another option. The best credit cards for international travel may be a good place to start, though it may be harder to get one of the cards listed.
How To Use Your Points
Your points can be redeemed in several ways, including:
- Gift cards
- Products and services made available through Chase
Cash back can come in the form of a statement credit or direct deposit into most U.S. checking and savings accounts.
Cardholders can also redeem cash back rewards to pay for part or all of their eligible Amazon.com purchases (including tax and shipping fees). To do this, simply link your Chase Freedom Student Credit Card to your Amazon.com account.
There is no minimum needed to redeem for cash back. Your points won’t expire so long as your account remains open, active, and in good standing.
Related: Best Cash Back Credit Cards
Should you get the Chase Freedom® Student credit card? If you can earn the bonus and make the payments to earn the Good Standing Rewards and credit limit increase, consider this card. Plus, Chase has some of the best credit cards you can have in your wallet.
Having the Chase Freedom Student Credit Card and staying in good standing can help you build a positive relationship with Chase. This may open the doors to some of the best Chase credit cards available.
- The Best Contactless Credit Cards for Your Wallet
- 8 Best Credit Cards for Everyday Spending
- Chase Slate Edge Perks
Chase Sapphire Preferred® Card
- 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 Ultimate Rewards®.
- Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.