The Chase Freedom® Student Card is a good starter credit card for credit-building college, university or trade school students. Its perks are limited, but it can guarantee you minimum cash back of 1% for all purchases made while you manage expenses and build your credit. MoneyGeek's Chase Freedom® Student Card review examines the card's features, perks and other features to help you determine if it's appropriate for you.
MoneyGeek’s Take
Chase Freedom® Student Credit Card Review
Updated: September 10, 2024
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Chase Freedom® Student credit card
Rewards Summary
Earn 1% – 5% cash backEarn 1% cash back on all purchases. Earn 5% cash back on Lyft rides (through March 31, 2025)
APR
19.99% VariableAnnual Fee
$0Recommended Credit
670-850 (Good to Excellent)Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
Chase Freedom® Student Credit Card Overview
In addition to cash back benefits and a low APR, Chase's Freedom Student Credit Card boasts a few other noteworthy advantages.
- Rewards rate: Earn 1% cash back on all spending, and 5% cash back on Lyft rides (through March 31, 2025)
- Welcome offer: Earn a $50 bonus by making your first purchase within the first three months
- Regular APR: 19.99% (variable)
- Annual fee: $0
- Intro APR offer: None
Important Card Details
Before committing to a credit card, it's essential to evaluate its features to help you select a card that aligns with your spending habits and financial goals.
No Annual Fee
This card has no annual fee. That means you can focus on building credit history and learning about responsible credit usage without the burden of an additional cost each year.
Lackluster Rewards Rate
You can earn unlimited 1% cash back on this credit card (with 5% on Lyft rides through March 31, 2025). It's great to get rewarded for purchases you're going to make anyway, but it's worth noting that this is a pretty standard base rate among credit cards and you might earn more rewards with another card.
Modest Welcome Offer
A $50 bonus is far from the highest welcome offer around, but it's probably one of the easiest, simply requiring that you make one purchase within the first three months. Most welcome offer requirements specify a particular spending threshold to earn a reward - this one doesn't. You could buy a mobile app or a can of soda to qualify, as long as you purchase it on your new credit card.
Regular APR
The annual percentage rate (APR) for the Chase Freedom® Student credit card is 19.99% (variable). That's not outrageously high, but is slightly above the average for student credit cards. As you start out with a credit card, you should prioritize paying your balance off on time and in full each month to avoid accruing interest at all.
How the Chase Freedom® Student Credit Card Compares
The Chase Freedom® Student credit card has several key advantages, like unlimited rewards, an attainable welcome bonus and no annual fees. Here's how it compares to another popular student credit card.
How This Card Compares
Chase Freedom® Student credit card
- Rewards rate: Earn 1% cash back on all spending, and 5% cash back on Lyft rides (through March 31, 2025)
- Welcome offer: Earn a $50 bonus by making your first purchase within the first three months
- Regular APR: 19.99% (variable)
- Annual fee: $0
- Intro APR offer: None
- Best For: simple unlimited rewards
Capital One Quicksilver Student Cash Rewards Credit Card
- Rewards rate: Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024. Earn unlimited 1.5% cash back on every purchase, every day
- Welcome offer: Earn a $50 bonus after spending $100 within the first three months
- Regular APR: 19.99% to 29.99% (variable)
- Annual fee: $0
- Intro APR offer: None
- Best For: students traveling abroad
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.