Chase Freedom Rise Review: A Credit Builder With a High Cash Back Rate

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.

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.

Top perks

Even though it has no annual fee, the Chase Freedom Rise℠ isn't light on features.

No credit history required

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.

Unlimited 1.5% cash back

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.

$25 statement credit statement credit welcome offer

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.

Partner benefits with DoorDash, Instacart, and Lyft

Many Chase credit cards have partner benefits, and this one is no exception. It offers:

• 5% cash back on Lyft rides. That's an additional 3.5% back on top of the 1.5% back you already earn. This rate lasts through March 31, 2025.
• Complimentary three months of DashPass. DoorDash's membership provides unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders through DoorDash and Caviar. After the three months end, you're automatically enrolled in DashPass at 50% off for the next nine months unless you cancel. Must activate by Dec. 31, 2024.
• Complimentary three months of Instacart+. This provides unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders. After the three months end, you're automatically enrolled in an annual Instacart+ membership unless you cancel. Must activate by July 31, 2024.
• Earn up to $10 per quarter in statement credits on qualifying Instacart purchases. Must activate your complimentary Chase Instacart+ membership to be eligible. This offer is available through July 31, 2024.

Credit score monitoring

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:

• Credit score tracking, updated monthly
• Free identity monitoring with alerts if your information is exposed
• Information on the factors that affect your credit score
• A personalized plan to improve your credit based on your score goal

Get a credit limit increase in as soon as six months

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.

Purchase and travel protections

The Chase Freedom Rise℠ offers the following complimentary protections on eligible purchases:

• Purchase protection for 120 days against damage or theft (up to $500 per claim and $50,000 per account)
• Extended warranty protection that extends the time period of the U.S. manufacturer's warranty by an additional year, on eligible warranties of three years or less
• Trip cancellation/interruption insurance that reimburses up to $1,500 per person and $6,000 per trip for your prepaid, nonrefundable passenger fares, if your trip is canceled or cut short by sickness, severe weather, and other covered situations

What could be improved

There are a couple of areas where this starter credit card from Chase falls a bit short.

Not for rebuilding credit

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.

Small welcome offer

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.

Our credit card methodology

At The Motley Fool Ascent, 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 The Ascent rates credit cards.