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If you found this card interesting, we have a few other top-rated student cards that might suit your needs.
If you are currently a Chase Freedom® Student credit card cardholder, don't worry. Nothing will change for you at this time. You can continue to use your card as normal, and your services and rewards will stay the same.
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, 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 |
Discover will match all the cash back you've earned at the end of your first year. N/A | 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—automatically. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 18.24% - 28.24% 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 |
Up to $300 cash back Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases. | 1.5% - 5% cash back Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases |
Intro: 0% Intro APR on Purchases and Balance Transfers for 15 months Purchases: 0% Intro APR on Purchases, 15 months Balance Transfers: 0% Intro APR on Balance Transfers, 15 months Regular: 20.49% - 29.24% Variable |
Apply Now for Chase Freedom Unlimited®
On Chase's Secure Website. |
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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 |
75,000 Miles 75,000 Miles once you spend $4,000 on purchases within 3 months from account opening | 2X-5X miles Earn unlimited 2X miles on every purchase, every day. Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. |
Intro: Purchases: N/A Balance Transfers: N/A Regular: 19.99% - 29.99% (Variable) |
This credit card is a good fit for: Students looking for a first credit card with rewards and no annual fee.
The Chase Freedom® Student credit card has a lot going for it, especially for a first card.
One of the top perks of using a credit card for your purchases is the ability to earn rewards. The Chase Freedom® Student credit card earns an unlimited 1% cash back on purchases, with no categories to track or activate. This means you'll earn the same rate on things, from textbooks to late night pizza runs.
Additionally, you won't need to reach an arbitrary minimum rewards amount to redeem your cash back. Any rewards you don't redeem will last forever, as rewards never expire as long as your account remains open.
Read more: Best Cash Back Credit Cards
While some rewards credit cards charge big annual fees, the Chase Freedom® Student credit card isn't one of them. This means you won't need to pay an annual fee each year just for hanging onto your card.
Plus, no annual fees means you can keep the account open after you graduate without worrying about it costing you money. The age of your credit accounts is one of the five factors that go into your credit scores, so it can be good for your credit to keep your student credit card even if you move on to better cards.
See more options: Best No Annual Fee Credit Cards
Credit card sign-up bonuses are lump-sum rewards that you can earn just for using your card. The Chase Freedom® Student credit card, for instance, offers new cardholders a $50 bonus when they make their first purchase (must be made within the first three months of card opening).
This is a modest bonus compared to some options. But the Chase Freedom® Student credit card has no spending requirement, which makes the bonus a breeze to earn. Cardholders can also earn an additional $20 in bonus rewards each year on their anniversary so long as their account remains in good standing.
The credit limit on your credit card tells you how much you can charge with your card. Since most students have limited (or no) credit history, starting credit limits are generally low. But the Chase Freedom® Student credit card offers cardholders a way to boost their spending power when they use their card responsibly.
Specifically, you can get a credit limit increase with your Chase Freedom® Student credit card when you make five on-time monthly payments within the first 10 months. Now, this doesn't mean you can just not use your card; you'll need to actually make a purchase and pay off your balance for it to count as a payment.
The Chase Freedom® Student credit card has a lot of perks, but there are some drawbacks to consider.
While it's nice that the Chase Freedom® Student credit card earns cash back rewards on purchases, that 1% cash back rate doesn't stack up to some other options. In fact, in the student credit card world, 1% back is table stakes among the best offers.
Studying abroad is a long-standing college tradition -- just don't take your Chase Freedom® Student credit card with you. Credit card purchases made in a non-U.S. currency are considered foreign transactions, and the Chase Freedom® Student credit card charges a 3% foreign transaction fee.
Because of this fee, purchases you make in a foreign currency will come with an added surcharge of 3% of the total transaction on top of the purchase amount. It may not seem like a lot on a few small purchases, but the fee can add up fast over the course of a semester abroad.
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
The Chase Freedom® Student credit card is designed for college students, many of whom will be first-time credit card users. As such, you can qualify for the Chase Freedom® Student credit card even if you have no credit history. Since it takes at least six months of credit history to get a FICO® credit score, you won't need a credit score to qualify, either.
One thing to note is that, by law, credit card issuers must be reasonably sure you can make your credit card payments before they approve your application. You'll be asked about your income on the application. Don't lie. Student credit cards have low credit limits, so you won't need a sky-high income to qualify -- but lying about it will definitely get you a rejection letter.
Read more: Best Starter Credit Cards for No Credit
The Chase Freedom® Student credit card is a great way to start building credit. Users can enjoy unlimited cash back rewards while paying no annual fee. What's more, you'll see solid bonuses both as a new cardholder and on every anniversary.
At the same time, other student cards offer better rewards as well as better bonuses. So, while the Chase Freedom® Student credit card is a solid starter card, it's worth taking a look at your other options before committing.
Keep reading: How to Get Your First Credit Card
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.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.