THE CHASE FREEDOM STUDENT CREDIT CARD
A College Student’s Review of the Chase Freedom Student Card
Features:
- No Annual Fee
- 1% Cashback (in the form of Chase Ultimate Rewards Points)
- Automatic Credit Raise After 6 Months
- $20 on the Anniversary of Opening the Card
No annual fee:
For a student opening their first or second credit card, a card with no annual fee is a must. Most starter credit cards have this feature and the Chase Freedom Student is no different, making it a low risk card as long as you make your payments on time.
1% Cashback (in the form of Chase Ultimate Rewards Points):
The cashback percentage is where this card is slightly lacking. Cards like the Discover it Student offer 1% back on all purchases plus 5% back on rotating quarterly categories. Despite this, Chase Ultimate Rewards points are considered some of the strongest out there and the free $20 at the end of the year can make up the deficit particularly if you’re a lower spender.
Chase Ultimate Rewards points can be used for cashback, travel, and more!
Automatic Credit Raise After 6 Months
When I first got this card I was mildly disappointed at the low credit limit provided to me, however this is a consequence of all student credit cards. My recent automatic credit limit raise wasn’t massive but gave me more wiggle room, especially because I have been closely following the 30% rule, limiting the amount of money I put on the card.
$20 Each Anniversary of Opening the Card
As a student card it shouldn’t be expected that this is going to be a credit card held for a long time, however the free $20 at the end of the year is a nice little boost to the card.
Overall:
Overall I am very satisfied with the Chase Freedom Student credit card. It checks all the necessary boxes of a student credit card and allows me to start building up a relationship with Chase. Chase is known to value long term customers particularly when it comes to new credit card applications for their higher tiered cards.
I will likely try to apply for the Chase Freedom Unlimited in the coming months in an effort to earn the 1.5% cashback it offers and gain a higher credit limit.
Thanks for reading!