![]() While the Chase Freedom Student card provides a unique opportunity for students to build their credit while earning flexible Ultimate Rewards, it doesn’t have the best earning rate among student cards. How does the Chase Freedom Student compare to other student cards? The APR is low for a student card at 19.99% variable. The Freedom Student card is also a bit easier on the rates and fees than other cards designed for building credit. This helps raise your credit score by improving your available credit and utilization ratio. The Freedom Student card is designed to help students improve their financial health, and one tool to help them along the way is the opportunity for an automatic credit limit increase.Īs long as you make five on-time payments within 10 months of opening your account, it will be automatically reviewed for a larger credit limit. This means you might even be able to boost your rewards value, as some Ultimate Rewards cards offer a points boost when you redeem for travel through Ultimate Rewards. Plus, if you qualify for another Ultimate Rewards card down the line, you can transfer points you earned on the Freedom Student to another card. In addition to the Ultimate Rewards portal, Freedom Student users can take advantage of perks like Chase Offers to earn extra cash back on everyday spending. ![]() Chase Freedom Student redemption options Redemption optionīecause the Freedom Student earns Ultimate Rewards points, it’s a great way for new credit cardholders to try out the program. Just keep in mind that you might not get the same value out of your points, depending on how you use them. Not only are Ultimate Rewards points some of the most valuable credit card points, but cardholders have a wide variety of redemption options.įreedom Student users can redeem their points for travel purchases, cash back, Apple products and more. The Freedom Student card is marketed as earning cash back, but it earns Ultimate Rewards points – a huge benefit for students eager to get started in the rewards card space. Every account anniversary that your account is still open and in good standing (you’ve been making your minimum payments on time), you are eligible for a $20 bonus – for up to the first five years of card ownership. Annual good standing rewardĬhase Freedom Student cardholders can also get rewarded annually for maintaining good habits. You must activate this benefit by December 31, 2024. After that, you’re automatically enrolled in DashPass at 50% off for the next nine months. You can also get a complimentary subscription to DashPass, DoorDash’s subscription services that provides unlimited free deliveries on orders over $12, for three months. While not the most eye-catching offer, this bonus can be a great way to get an influx of extra cash without having to reach a high spend threshold. New cardholders can earn $50 after making their first purchase with the card in the first three months. One perk that comes with the Chase Freedom Student is an intro bonus. ![]() ![]() Unlike the Freedom, the Journey enables cardholders earn 25% bonus points for paying their bill on time, boosting their overall rate to 1.25 points per dollar. The Journey Student Rewards from Capital One*, for example, also offers 1% cash back on general purchases. Unfortunately, cardholders won’t have the opportunity to boost their earnings with an ongoing bonus category or redemption bonus. Additionally, through March of 2025, you get 4% back on Lyft rides. The Chase Freedom Student offers 1% cash back on every purchase, which is a pretty standard rewards rate for a basic student card. Freedom Student cardholders will enjoy the flexible redemption options available in the Ultimate Rewards portal and can even transfer their points to another Ultimate Rewards card if they qualify down the line. Plus, the Freedom Student card is part of the Chase Ultimate Rewards family and can serve as an introduction to one of the most valuable rewards programs. The rewards earning scheme is not the best among student cards, but it is still a good way to bring in a little extra cash back. New credit cardholders can use the card to build their credit without paying an annual fee. The Chase Freedom Student credit card is the bank’s first offering for college students, and it is designed to impart good credit habits and encourage financial health in young adults.
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