Skip to content
Reviews

2021 Review: Chase Freedom® Student Credit Card

Published Mar 08, 20214 min read

Advertiser Disclosure

Credit Card Insider is an independent, advertising supported website. Credit Card Insider receives compensation from some credit card issuers as advertisers. Advertiser relationships do not affect card ratings or our Editor’s Best Card Picks. Credit Card Insider has not reviewed all available credit card offers in the marketplace. Content is not provided or commissioned by any credit card issuers. Reasonable efforts are made to maintain accurate information, though all credit card information is presented without warranty. When you click on any ‘Apply Now’ button, the most up-to-date terms and conditions, rates, and fee information will be presented by the issuer. Credit Card Insider has partnered with CardRatings for our coverage of credit card products. Credit Card Insider and CardRatings may receive a commission from card issuers. A list of these issuers can be found on our Editorial Guidelines.

Chase Freedom® Student credit card

Min Credit Level Limited Credit History
Annual Fee $0
Regular APR 14.99% Variable
At a glance

The Chase Freedom Student is a solid offer for young students with limited or no credit history. For no annual fee, it offers 5% cash back for Lyft and 1% elsewhere, with a $20 anniversary bonus and automatic credit line increase.

Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.

Our Rating: 5 Out of 5 Stars

Why We Like It

  • 5% cash back for Lyft, 1% back everywhere else
  • Incentives for being a responsible cardholder
  • $20 anniversary bonus when your account is in good standing, for up to five years
  • Automatic credit limit increase after five on-time monthly payments in the first 10 months
  • Three-month complimentary DoorDash membership
  • Access one of your VantageScore credit scores whenever you’d like
  • Contactless payment technology
  • No annual fee

Why It Could Be Better

Chase Freedom® Student credit card

Our rating
Min. credit levelLimited Credit History
Details
Annual Fee$0
Regular APR14.99% Variable

Insider Advice: Getting the Most Out of Your Card

  • Use it for everything: As a student you’ll probably only have this one credit card, so use it for everything from books to beer to earn some cash back.
  • Practice responsible credit habits: A student credit card is a good opportunity to develop financial habits that’ll serve you well in the long run. Treat your credit card like a debit card: Commit to not spending more than you can pay off each month, and be sure to pay the full statement balance each month. This will let you avoid interest, help keep you out of credit card debt, and boost your credit scores.
  • Get more for being a good cardholder: You can earn an easy $20 reward every year for five years, just by paying your card on time. The reward will be issued after your cardmember anniversary, as long as your account is in good standing.
  • Earn a higher credit limit: Most young people with limited or no credit will get fairly small credit limits, but Chase will up your limit if you make five on-time monthly payments in your first 10 months. Since you should always pay on time, this should be a quick and easy way to get a higher limit. Each payment has to be at or above the minimum amount due, and any late payments will disqualify you.
  • Enroll with DoorDash for free delivery: Chase provides a free three-month DashPass subscription with this card, giving you a way to save money with $0 delivery fees and reduced service fees for orders over $12. But after those three months you’ll be automatically enrolled for the next nine months, at a 50% discount, so you may want to cancel at that point.
  • Keep tabs on your credit: Anyone new to credit should take a keen interest in what goes into your credit reports and what affects your credit scores. Chase’s Credit Journey tool shows you your VantageScore 3.0 credit score, based on your TransUnion credit report, along with tips on how you can improve.
  • Get it for keeps: You need to be a student to apply for the Freedom Student, but don’t close the card when you finish school. Since it has no annual fee, you can keep it open indefinitely at no cost, and it can continue to help your credit by reducing your credit utilization and increasing your average age of accounts.

The Rewards

Spending Rewards
  • 5% cash back on Lyft rides (through March 2022)
  • 1% cash back on all other purchases
Introductory Bonus
  • $50 bonus after your first purchase within 3 months of account opening

The Benefits

The Chase Freedom Student comes as a Visa Signature if your starting credit limit is $5,000 or more. Otherwise, you’ll receive a Visa Platinum. The shopping and travel protections you get may differ between card types.

  • $20 Good Standing Rewards: Get a $20 reward (in the form of 2,000 points) every year for five years, after each account anniversary. Your account must be in good standing (not in default) to qualify.
  • Three-month DoorDash membership: Enroll to get a complimentary three-month DoorDash membership (a DashPass). A DashPass provides $0 delivery fees and reduced service fees on orders over $12. After those three months you’ll be automatically enrolled for nine months at a 50% discount, unless you cancel.
  • Automatic credit line increase: Get easy access to a higher credit line by making five on-time monthly payments in your first 10 months. Payments must be at or above the minimum amount due, and any late payments will be disqualifying.
  • Free credit score: Access one of your VantageScore 3.0 credit scores, based on your TransUnion credit report, via Chase Credit Journey.
  • Purchase Protection: Eligible purchases are covered for accidental damage and theft for 120 days, up to $500 per claim and $50,000 per account.
  • Extended Warranty: Get up to one extra year added to eligible manufacturer’s warranties of three years or less.
  • Trip Cancellation/Interruption Insurance: If your trip is cancelled or cut short for an eligible reason, like sickness or severe weather, you can be covered up to $1,500 per person and $6,000 per trip.

The Terms & Fees

Purchase APR Balance Transfer APR Cash Advance APR
14.99% Variable 14.99% Variable 24.99% Variable
Annual Fee Foreign Transaction Fee
$0 3% of each transaction in U.S. dollars
Balance Transfer Fee Cash Advance Fee
Either $5 or 5% of the amount of each transfer, whichever is greater Either $10 or 5% of the amount of each transaction, whichever is greater
Penalty APR Late Fee Returned Payment Fee
See Terms Up to $39 Up to $39

How Do I Apply for the Chase Freedom Student Card?

Click the “How to Apply” button below to start your application.

Chase will usually give you an answer immediately, either approved or denied. Some applicants may need to wait for a decision, and in some cases Chase will ask for more information.

What Credit Scores Do You Need to Get the Chase Freedom Student Card?

The Chase Freedom® Student credit card is designed for students who haven’t built up much credit history yet, so it’s accessible to those with limited or no credit. Having a thin credit file shouldn’t hold you back.

Qualifications and Requirements

  • Must be a student enrolled in college, university, career, or trade school to apply
  • Must be 18 to apply
  • Personal information: Name, date of birth, Social Security number, student enrollment status
  • Address and contact information: Home address, phone number, email address
  • Financial information: Total annual income, income source

Chase Freedom® Student credit card

Our rating
Min. credit levelLimited Credit History
Details
Annual Fee$0
Regular APR14.99% Variable
Was this helpful?
Written by

Brendan Harkness

Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.

Do you have a correction, tip, or suggestion for a new post? Contact us here.

The responses below are not provided or commissioned by bank advertisers. Responses have not been reviewed, approved or otherwise endorsed by bank advertisers. It is not the bank advertisers' responsibility to ensure all posts are accurate and/or questions are answered.