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Attention students: there’s a new 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.

freedom student credit card
Use the Chase Freedom® Student credit card to earn rewards on purchases at popular shops, like Target. Part of the new USC Village, Target’s small-format store just opened at the base of a new retail development, under residential student apartments and across the street from campus. Credit: Target

The Chase Freedom Student Credit Card

As mentioned above, the Chase Freedom® Student credit card has no annual fee.

Cardholders can earn:

  • 1% cash back on all purchases
  • 4% Cash Back on qualifying Lyft rides through March 2022

So, you can earn 1% cash back rewards for every $1 spent, regardless of the purchase.

To earn the 4% additional cash back (5% cash back total) rewards for every eligible $1 spent, you’ll need to use the Lyft mobile application and have your card connected as payment. Qualifying Lyft products and services include rides taken in Classic, Shared, Lux, or XL modes, bike and scooter rides, and subscription and membership products. This is a great card for Lyft.

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

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.

Related: Best Places to Get Free Credit Score Checks Without Affecting Your Credit


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:

  • Cash
  • Gift cards
  • Travel
  • Products and services made available through Chase

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, use Lyft, 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.

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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.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 03/31/22.
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.

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