Chase Freedom Rise Review: A Credit Builder With a High Cash Back Rate
Review
Updated
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The Chase Freedom Rise® is perfect for consumers looking for their first credit card. You don't need a credit score or credit history to qualify for it. It also has lots of important features to help you get started with credit cards, including no annual fee, free credit score tracking, and even cash back. Read our full Chase Freedom Rise® review to learn more about it.
Good/Excellent (670-850)
Intro APR
Purchases: N/A
Balance Transfers: N/A
Regular APR
25.99%
Rewards With Chase Freedom Rise®, you can start building credit while earning 1.5% cash back on all purchases. Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
1.5% cash back offer.
Annual Fee
$0
Welcome Offer Earn a $25 statement credit after signing up for automatic payments within the first three months of opening your account. With automatic payments, just pick a date and dollar amount to make sure your Credit Card gets paid on time.
$25 statement credit
This starter credit card is an excellent choice for building credit. It has all the tools you need to learn how to manage your credit and get a high credit score.
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
| Offer | Our Rating | Welcome Offer | Rewards Program | APR | Learn More |
|---|---|---|---|---|---|
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Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Discover will match all the cash back you’ve earned at the end of your first year. | 1% - 5% Cashback Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 18.24% - 27.24% Variable APR |
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|
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$200 cash rewards Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. | 2% cash rewards Earn unlimited 2% cash rewards on purchases. |
Intro: 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers Purchases: 0% intro APR, 12 months from account opening Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers Regular: 19.24%, 24.24%, or 29.24% Variable APR |
|
Apply Now for Bank of America® Travel Rewards credit card
On Bank of America's Secure Website. |
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
25,000 points 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases | 1.5-3 points per dollar Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open. Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center. |
Intro: 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers. Balance transfers may not be used to pay any account provided by Bank of America. Purchases: 0% Intro APR for 15 billing cycles for purchases Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days Regular: 18.24% - 28.24% (Variable) |
Apply Now for Bank of America® Travel Rewards credit card
On Bank of America's Secure Website. |
This credit card is a good fit for: Consumers who don't have their own credit card yet and are ready to start building their credit history.
Even though it has no annual fee, the Chase Freedom Rise® isn't light on features.
The main draw of this Chase credit card is that you don't need a credit history to get it. One of the hardest parts of building credit is getting approved for a credit card. Fortunately, there are starter credit cards like this one available.
You can increase your chances of getting approved by having a Chase checking account with a balance of at least $250. This doesn't guarantee approval, but it helps.
The Chase Freedom Rise® earns 1.5% cash back on purchases. There are several ways to redeem your cash back, including as a statement credit on your credit card bill or a direct deposit to a bank account. Your cash back also never expires. While there are cash back credit cards with higher rates, 1.5% back is excellent for a starter credit card.
You earn a $25 statement credit statement credit after signing up for automatic payments within the first three months of opening your credit card. It's not a huge statement credit, but it's easy to earn. It also encourages you to set up automatic payments. That's a good way to ensure your credit card bill is paid on time and avoid late payments, which result in fees and can damage your credit score.
Many Chase credit cards have partner benefits, and this one is no exception. It offers:
You can check your credit score through Chase Credit Journey. This isn't exclusive to Chase cardholders, as anyone can sign up and use it. Still, it has several useful features, especially for those who are new to credit. Features include:
Chase evaluates you for a credit limit increase in as soon as six months. A higher credit limit is useful because it gives you more spending power. It can also help your credit score by keeping your credit utilization ratio lower. Keep in mind that no matter how high your credit limit is, the best way to use a credit card is to only spend what you can afford to pay back in full.
The Chase Freedom Rise® offers the following complimentary protections on eligible purchases:
There are a couple of areas where this starter credit card from Chase falls a bit short.
Although this card is wonderful for building credit, it's not designed for rebuilding credit. If you have negative items on your credit file, such as late payments or a bankruptcy, this isn't the card for you. Try credit cards for bad credit, instead, as those have the most lenient qualification requirements.
It's nice that the Chase Freedom Rise℠ Credit Card has a $25 statement credit statement credit offer for setting up autopay. However, there are other credit cards with bigger sign-up bonuses, including student cards that also don't require a credit history to open. If you're interested in bonus opportunities, consider exploring more credit card reviews to see what's out there.
The Chase Freedom Rise® doesn't have a minimum credit score requirement. You can potentially qualify for it even if you don't have a credit score. If you want to increase your chances of getting approved, you can do so by having a Chase checking account with a balance of at least $250.
You're looking for your first credit card. If you need to build credit for the first time, the Chase Freedom Rise® is one of the top credit cards for beginners. You won't need to pay an annual fee for it, you'll earn cash back on your spending, and you'll get some useful extras, too.
At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.
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