Chase Freedom Student Card
Developed with the goal of providing access to credit and opportunities for young students, the Chase Freedom Student Card is designed with a variety of benefits and features targeted to meet student needs.
Initially, it offers more modest credit limits and rewards, but as time passes, it provides the chance to access larger limits and more substantial rewards. This allows students to gradually build their credit profile while managing their finances responsibly.
In this way, the Chase Freedom Student credit card offers an additional incentive to cardholders who meet and comply with the credit criteria, promoting an increase in the credit limit after making five on-time payments in the first 10 months after opening the account. Additionally, these cardholders will have unlimited access to their credit score through Chase’s Credit Journey tool, helping them stay informed about their credit health and track their progress.
Furthermore, in addition to this bonus, there are other advantages and rewards during use. See below all the duties acquired when obtaining and using the card:
Chase Freedom Student Card Privileges and Perks:
- $50 bonus after the first purchase is made within the first 3 months from account opening, giving you an immediate reward for your initial spending.
- $20 birthday bonus for accounts in good standing for up to five years, offering a small yet appreciated annual reward.
- Earn unlimited 1% cash back on all purchases, providing consistent rewards for everyday spending.
- Credit limit increase for eligible cardholders after five on-time payments, offering a path to higher credit limits as you demonstrate responsible credit use.
- No annual fee, making it a cost-effective option for students.
- Purchase protection covers new purchases against damage or theft.
- Extended warranty protection extends the manufacturer’s warranty by up to one additional year for eligible items.
Can I redeem my rewards?
The answer is yes! You can redeem your rewards at any time and in any amount, through various ways and resources. When you choose to redeem your rewards, 5,000 points include a value of US$50 in cash back. Additionally, you can choose to make a credit to your account statement, or make a direct deposit into your checking or savings account.
It is important to highlight that your rewards have no expiration date, as long as your account remains open and in good standing. You also have the option of using your rewards while shopping on Amazon, converting them into gift cards, or using them to book trips. Additionally, you may use your rewards for other purchases or charitable donations. However, it is important to note that redemption values may vary and may be less than a cent per point.
It must be remembered that cash back rewards are awarded in the form of Chase Ultimate Rewards points, which provide flexibility and value in various redemption options, enhancing the overall utility of the card.
Interest rates and fees:
- Regular APR: 19.99% variable
- Introductory purchase APR: N/A
- Balance Transfer Intro APR: N/A
- Annual fee: $0
- Balance transfer fee: $5 or 5% of the value of each transfer, whichever is greater.
- Cash advance: US$10 or 5% of the value of each transaction, whichever is greater.
- Foreign purchase transaction fee: 3% of each transaction in US dollars
Other Benefits of the Chase Freedom Student Credit Card:
- Credit limit increase: As stated above, after making five on-time payments during the first 10 months, you may be eligible for an automatic credit limit increase, as long as you meet established credit requirements.
- Zero Liability Protection: You are not held responsible for unauthorized transactions.
- Purchase Protection: Provides protection against damage or theft for recent purchases, with a limit of up to $500 per purchase and a maximum coverage of $50,000 per account for a period of 120 days from the date of purchase.
- Extended Warranty Protection: Extends the manufacturer-provided warranty by an additional year for warranties that normally last three years or less, provided they are eligible.
- Lock/Unlock feature: You can easily activate or deactivate your credit card online or through the Chase mobile app, providing added security and control.
- Free credit score: Get unrestricted access to your credit score and other relevant information through Credit Journey, helping you manage and improve your credit health.
Therefore, keeping in mind and having knowledge of the features of the Chase Freedom Student card, students can easily make their purchases and meet other needs while building their credit history responsibly.
