Chase Freedom Rise® is a good credit card for people who are new to credit. It offers above-average rewards at a lower-than-average cost, giving 1.5 - 3% cash back on purchases without charging an annual fee, so it’s worth owning as long as you avoid interest charges. This card can also help you build a good credit score if you use it responsibly.  

What I Like About Chase Freedom Rise

1.5 - 3% cash back on purchases

The Chase Freedom Rise® credit card normally offers 1.5% cash back on purchases. That's nearly 30% more value than the average rewards card in WalletHub’s database of 1,500+ offers. To sweeten the deal, for a limited time, it also offers 3% cash back on dining purchases at restaurants (including takeout and eligible delivery services) during the first 6 months, on up to $6,000 spent.

That is a very generous earning rate, and the fact that you don’t need to pay an annual fee or prove yourself as a borrower to qualify makes the offer even more impressive. Most rewards cards for newcomers give about 1% back on purchases. Those with higher reward rates usually charge annual fees. 
 

$25 statement credit bonus

This is far from the biggest bonus on the market right now, but it’s among the easiest to earn. All you have to do is set up automatic monthly payments from a bank account within three months of opening your Freedom Rise account. This will help you build credit, too, as your payment will be made even if you forget. 
 

$0 annual fee

Not having to pay an annual fee saves you $28.25 per year compared to the average credit card offer, according to WalletHub’s Credit Card Landscape Report. This allows you to maximize your credit-building efforts as well as use the savings for something more important.

You can keep your account open for longer without feeling wasteful when you don’t have to worry about annual fees,. That can help extend the length of your credit history and add more positive information to your credit report.  
 

Available to people who are new to credit

This card is designed for people who are new to credit, so you don’t need a lot of experience to qualify. Plus, if you have at least $250 in a Chase checking or savings account, your odds of being approved will be higher. So, this is an especially good starter card for Chase banking customers. 
 

Reports to the major credit bureaus

Monthly credit-bureau reporting is essential if you want to build credit quickly, and this card has that part covered. You just need to make sure the information being reported is accurate and reflects responsible account management. Most importantly, you need to pay the bill by the due date each month as well as avoid using up too much of your credit limit. 

You can keep track of your credit report and credit score right here on WalletHub to make sure you’re headed in the right direction as you use the Chase Freedom Rise card.
 

$500+ credit limit

The minimum credit limit for Chase Freedom Rise® is $500. The specific limit you’ll be assigned if approved for an account will depend on your credit score, income, debt and other factors.

If these things show you have a lot of disposable income and you're very trustworthy, you might even get approved for the Visa Signature version of this card with a $5,000+ limit, but don’t count on it.   
 

Credit limit increase opportunities 

You’ll be evaluated for a higher credit limit as soon as six months after you open your account. You’re most likely to get an increase if you pay your bill on time every month and keep your credit utilization fairly low. 

What I Don’t Like About Chase Freedom Rise

High APR 

At 18.24% - 27.74% (V), the Chase Freedom Rise® card’s interest rate can be higher than the average among new credit card offers right now (22.11%), according to our research. The exact rate you get will depend on your credit history and other factors. That’s really saying something, too, as credit card rates are currently very high in general. 

This doesn’t have to be a major drawback, though. If you pay your bill in full by the due date each month, the interest rate won’t affect you. Interest only applies when you carry a balance from month to month. 
 

3% of the amount of each transaction in U.S. dollars foreign transaction fee

If you’re traveling to another country, or just making purchases from merchants located outside of the U.S., you should use a different credit card for those transactions. Limited credit won’t keep you from getting approved for a credit card with no foreign transaction fee, and using a card that charges such fees would really cost you. 

Bottom Line: Is Chase Freedom Rise a Good Credit Card?

Chase Freedom Rise is a very good credit card for building credit. If you’re new to credit and not a student, it’s one of the best options available to you. 

Not only can it help you build credit history, but it can also help you save money in the process, via attractive rewards and a lack of membership fees. That combination could save some cardholders more than $500 per year, per our calculations. Plus, you can save $25 right away by setting up automatic monthly payments within three months of opening an account. 

However, you should not apply if you plan to carry a balance from month to month or use your card abroad. Carrying a balance will result in expensive interest charges that effectively cancel out your rewards. Using this card abroad will trigger a foreign transaction fee of 3% of the amount of each transaction in U.S. dollars.