Chase Freedom® Student credit card

Chase Freedom® Student credit card Review

This is a rewards card issued by Chase Bank. If you're wondering whether Chase Freedom Student is the right card for you, read on.

Key Takeaways

• Signup bonus. Offers a signup bonus of up to $50 within 3 months.
• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 19.24%
• No annual fee. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
• 5% Balance transfer fee. Chase Freedom® Student credit card charges a fee of 5% on balance transfers. For example, a balance of $1,000 could cost $50 in transfer fees. The minimum fee is $5.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Multiple credit card benefits. Includes generous credit card perks, such as identity theft protection, purchase security, trip cancellation and interruption protection, and fraud protection.
• Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still have relatively good approval odds.

Pros & Cons of Chase Freedom Student

The Good

The Bad

$50 Bonus Offer $50 Bonus earned after first purchase made within the first 3 months from account opening. $20 Good Standing Rewards After each account anniversary for up to 5 years. Credit Limit Increase Earn a credit limit increase after making 5 monthly payments on time within 10 months from account opening when meeting credit criteria. No annual fee. Multiple credit card perks. Free access to your credit score. Identity Theft Protection. Trip Cancellation and Interruption Protection. Considers applicants with fair credit. Cardholders can earn rewards on purchases everywhere Chase Freedom® Student credit card is accepted. Chase Freedom® Student credit card reports to multiple credit bureaus.

Higher than average purchase APRs. Charges a foreign transaction fee of 3%. Charges a 5% balance transfer fee

Chase Freedom Student FAQ

Does Chase Freedom Student have a cash back or rewards program?

Chase Freedom Student is a rewards card.

Chase Freedom Student Rewards

Minimum rewards rate	1x
Max rewards rate	N/A
Annual rewards limit	N/A
Signup Bonus ($)	Starting at $50
Signup Bonus Spend Period (months)	3 months
Annual Loyalty Bonus	$20
Annual Loyalty Bonus (Points/Miles)	2000

What are the Chase Freedom Student benefits?

It provides the following benefits:

• Free Credit Score
• Trip Cancellation Insurance
• Zero fraud liability
• Reports to major credit bureaus

What are the relevant APRs for Chase Freedom Student?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has higher than average regular APRs.

Chase Freedom® Student credit card has a variable purchase APR of 19.24%. The card has a variable balance transfer APR of 19.24% . It also has a variable cash advance APR of 29.24% . Note that late payments are subject to an APR of 29.99% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

What are the fees for Chase Freedom Student?

The following fees apply:

• There is no overlimit fee

Chase Freedom® Student credit card Fees

Description
Cash Advance Fee Minimum	$10
Cash Advance Fee (%)	Starting at 5%
Minimum Cash Advance Fee ($)	Starting at $10
Foreign Currency Transaction Fee	3%
No Annual Fee?
Annual Fee	$0
Minimum Interest Charge	$0
Over-Limit Fee	$0
No Interest Grace Period for Late Payment	21 days
Returned Payment Fee	Up to $40
Late Fee Amount	Up to $40

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost rewards card.

Does Chase Freedom® Student credit card report your account activity to credit bureaus?

Yes, Chase Freedom® Student credit card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Chase Freedom Student

• Visit the Chase Freedom Student website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.