Earn a $50 Bonus and 1% Cash Back

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Regular APR

14.99% Variable

Featured Reward

$50 Bonus after first purchase made within the first 3 months from account opening

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  • Pros & Cons
  • Details

  • Pros
    • $20 Good Standing rewards (2,000 points) after each account anniversary year for the first five years
    • Potential to earn a credit limit increase after making on-time payments
    • Solid benefits for a no-annual-fee student card, including purchase protection, extended warranty, and trip cancellation/interruption insurance
    Cons
    • Only earns 1% cash back on most purchases
    • Foreign transaction fees
    • Some student cards offer a higher welcome bonus
    • $50 Bonus after first purchase made within the first 3 months from account opening
    • Earn 1% cash back on all purchases
    • No annual fee
    • $20 Good Standing Rewards after each account anniversary for up to 5 years
    • Earn a credit limit increase after making 5 monthly payments on time within 10 months from account opening when meeting credit criteria
    • No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
    • Free credit score with Chase Credit Journey

    Review: Is the Chase Freedom Student card the best credit card for you?

    There are plenty of parts of college that may feel hard: studying for exams, dealing with the odd hours of your new roommate, and feeling overwhelmed while trying to plan ahead for the rest of your life, to name a few. However, one piece of the puzzle can feel easy with the Chase Freedom® Student credit card. 

    The card’s sign-up bonus is the most simple and achievable offer on the planet: $50 Bonus after first purchase made within the first 3 months from account opening. The card also comes with an annual $20 Good Standing reward payout. Each year, you’ll earn an extra $20 as long as you are paying your bill on time.

    Finding the right credit card, however, is about more than one-time and once-a-year perks, and this card doesn’t pack a big punch for your everyday spending. The Chase Freedom® Student credit card earns 1% cash back on all your purchases. That rewards rate isn’t much to celebrate compared with other student credit cards that have recently hit the market.

    Read more: The best student credit cards

    For example, the Bank of America® Unlimited Cash Rewards Credit Card for Students
    earns 1.5% cash back on all your spending, and the Capital One SavorOne Student Cash Rewards Credit Card offers 3% cash back on dining, entertainment, popular streaming services, and at grocery stores.

    One other downside to the Chase Freedom® Student credit card is the 3% foreign transaction fee. If you’re planning to travel outside the US for a vacation or thinking about spending a semester abroad, you’re better off with any of Capital One’s student credit cards or the Discover it® Student Cash Back. None of those charge additional fees for transactions outside the country.

    While other card offerings can make your spending during college more rewarding, the Chase Freedom® Student credit card is worth your consideration if you have no credit history. You can use Chase’s Credit Journey tool to monitor your FICO score. Plus, you’ll score a credit limit increase — a key piece of boosting that score — by making five monthly payments on time.

    The card also comes with a surprisingly good range of benefits for a student credit card, including purchase protection, trip cancellation/interruption insurance, and extended warranty.

    Comparison: Chase Freedom Student card vs other Chase Freedom cards

    The Chase Freedom® Student credit card is the only student credit card available from Chase. However, the bank does have a wider line of Freedom-branded cards that are designed for customers with more established credit. While Chase doesn’t publish specific credit score requirements, the other Freedom cards are much more rewarding if you can qualify for one of them.

    And if you can’t meet the requirements for one of these (which is highly likely if this is your first card), consider these more lucrative benefits a source of inspiration to build your credit and take advantage of one of them down the road.

    Chase Freedom Student card vs other student credit cards

    How to earn rewards with the Chase Freedom Student card

    Earning rewards is straightforward with the Chase Freedom® Student credit card. You’ll earn 1 Chase Ultimate Rewards point for each dollar you spend, with no bonus categories to worry about.

    Read more: How to earn, redeem, and maximize Chase Ultimate Rewards points

    You can also earn bonus points by shopping through the Chase portal.

    How to use Chase Ultimate Rewards points

    You don’t have to redeem the Chase Ultimate Rewards points you earn from the Chase Freedom® Student credit card for cash back (although that’s the simplest method). Here are your redemption options:

    • Cash back (1 cent per point)
    • Gift cards (1 cent per point)
    • Airfare, hotels, car rentals, and more through the Chase Ultimate Rewards travel portal (1 cent per point)
    • Apple purchases (1 cent per point)
    • Pay Yourself Back (1.25 cents per point toward eligible charities through December 31, 2022) 
    • Amazon purchases (0.8 cents per point)

    Paying with points at Amazon checkout should be avoided — you’re better off paying for an Amazon purchase with your card, then after the charge posts to your account, using points at 1 cent apiece for a statement credit.

    There are no minimum requirements for redemption.

    Benefits and features

    Student credit cards don’t typically have an expanded set of perks, but there are a few notable add-ons for having the Chase Freedom® Student credit card in your wallet.

    $20 annual Good Standing Reward

    Each year on your Chase Freedom® Student credit card account anniverary, you’ll receive a $20 Good Standing Reward (2,000 Ultimate Rewards points). In order to qualify, your account must be open and not in default, and you can receive the reward for the first five years of account opening.

    5% back on Lyft rides

    Through March 2022, you’ll earn 5% back (5x points) on all your Lyft rides. So, if you’re constantly shifting loyalty between Lyft and Uber, you’re better off sticking with Lyft through the beginning of the spring with this card.

    3-month DashPass subscription

    DoorDash’s DashPass waives delivery fees on orders more than $12. You’ll be able to enjoy this service for free for three months. If you like it, you can get 50% off a subscription for nine months (activation is required by December 31, 2021).

    Read more: The best credit cards for food delivery

    Automatic credit limit increase

    As long as you make five monthly payments on time within the first 10 months of opening your account, you’ll be eligible for a credit limit increase.

    Trip cancellation/interruption insurance

    The Chase Freedom® Student credit card offers some peace of mind when you’re traveling: You can be reimbursed up to $1,500 per person and $6,000 per trip for pre-paid, non-refundable fares if your trip is cut short by sickness, bad weather, or other qualifying situations.

    Read more: The best credit cards with travel insurance

    Purchase protection

    There is some additional peace of mind when you’re at home, too. When you pay for a new, eligible item with the Chase Freedom® Student credit card, you can be covered against damage or theft for 120 days (up to $500 per claim and $50,000 per account).

    Read more: Chase credit cards offer purchase protection if a new item is damaged or stolen — here’s how to file a claim

    Extended warranty

    Eligible items you purchase with the Chase Freedom® Student credit card with a manufacturer’s warranty of three years or less can qualify for an additional year of extended warranty coverage.

    Regular APR

    14.99% Variable

    Featured Reward

    $50 Bonus after first purchase made within the first 3 months from account opening

    Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Pros & Cons
  • Details

  • Pros
    • $20 Good Standing rewards (2,000 points) after each account anniversary year for the first five years
    • Potential to earn a credit limit increase after making on-time payments
    • Solid benefits for a no-annual-fee student card, including purchase protection, extended warranty, and trip cancellation/interruption insurance
    Cons
    • Only earns 1% cash back on most purchases
    • Foreign transaction fees
    • Some student cards offer a higher welcome bonus
    • $50 Bonus after first purchase made within the first 3 months from account opening
    • Earn 1% cash back on all purchases
    • No annual fee
    • $20 Good Standing Rewards after each account anniversary for up to 5 years
    • Earn a credit limit increase after making 5 monthly payments on time within 10 months from account opening when meeting credit criteria
    • No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
    • Free credit score with Chase Credit Journey

    Fees and costs

    There is no annual fee for the Chase Freedom® Student credit card, which is the norm for most student credit cards. If you wind up carrying a balance (which you should avoid at all costs), the card charges a 14.99% Variable APR.

    Read more: The best credit cards with no foreign transaction fees

    The major downside with the card is a 3% fee on all foreign transactions. If you’re planning on traveling outside the US at all during your college term, this isn’t the card to use on those adventures. If you’re staying stateside, though, it’s worth considering.

    Featured credit cards from our partners

    Featured Reward

    125,000 bonus points and 1 free night award (value up to 50,000 points) after spending $5,000 on purchases in the first 3 months from account opening

    Featured Reward

    $200 after spending $500 on purchases in the first three months from account opening

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