Chase Freedom® Student Credit Card Review [2024]

CREDIT CARDS - STUDENT CREDIT CARDS
The Chase Freedom Student card allows you to earn 1% cash back on every purchase you make.
Updated April 9, 2024
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Editor's note
The Chase Freedom® Student credit card has been discontinued. Check out the Best Credit Cards for Students to explore other options.

If you have poor credit or no credit at all, qualifying for a credit card can feel impossible. But if you’re a college student, you have a unique opportunity to get access to a credit line and boost your credit score: student credit cards.

With a basic rewards structure, you can use the Chase Freedom® Student credit card for your routine purchases and earn valuable cash back. In this Chase Freedom Student card review, find out how the card works and how you can maximize your rewards.

Who should get this card?

The Chase Freedom Student card is perfect for college students who want a simple, easy-to-use card. It’s an excellent first credit card, helping you build good credit habits while you earn cashback rewards.

If you spend a lot of money in certain categories — such as gas or Amazon purchases — you may be better off applying for another student credit that has rotating spending categories rather than a flat reward structure.

Card basics

Card Type Student
Card Issuer Chase
Recommended Credit Score Fair
Foreign Transaction Fee 3%

Top card benefits

  • Cashback rewards: Many student credit cards don’t offer rewards, but the Chase Freedom Student card does. You’ll earn 1% cash back on all purchases.
  • $20 annual reward: For the first five years that your account is in good standing, meaning you’re current on your payments and not in default, Chase will give you a $20 Good Standing Reward each year after your cardmember anniversary.
  • Credit-limit increase: When you’re first approved for a student credit card, your credit limit is typically low. But with the Chase Freedom Student card, you may qualify for an automatic credit-limit increase after you make five monthly payments on time within 10 months from account opening.
  • Free credit score: As a Chase Freedom Student cardmember, you have access to Credit Journey, a free feature that allows you to monitor your credit score.
  • Discounted Lyft rides: In addition to the 1% cash back on all purchases, Chase Freedom Student cardholders also earn 5% cash back on Lyft rides.
  • Doordash benefit: Cardholders get 3 months of free DashPass (after activation), plus zero delivery fees and reduced service fees on eligible orders over $12.
  • Instacart benefits: Receive three free months of Instacart+ and $10 per quarter in statement credits toward Instacart purchases. You must join Instacart+ with your eligible card to receive these benefits.

Earning & redeeming

The Chase Freedom Student card has a very simple rewards structure: You’ll earn unlimited 1% cash back on all purchases, with one exception — this card will net you 5% cash back on Lyft rides. As long as your account is open, your points never expire.

Best ways to earn

As a college student, you want to build your credit, but it’s important to avoid costly credit card debt. The best way to earn rewards without building up an unnecessary balance is to use your card for ordinary expenses — such as gas, groceries, ridesharing, or school supplies — and then pay off the balance in full each month.

For example, you can earn rewards just by paying for your textbooks with your credit card. According to The College Board, textbooks cost $1,240 per year, on average. If you used your card to buy them and earned 1% cash back, you’d earn $12.40 in rewards just for using your credit card.

Maximizing your redemptions

You can redeem your rewards in a number of ways, including statement credits, gift cards, Amazon purchases, and travel. How much your rewards are worth can vary depending on your redemption method.

FAQs

Do I need good credit or a job to qualify for a student credit card?

When it comes to how to get a credit card as a student, options designed specifically for students, like the Chase Freedom Student card, typically have less stringent requirements for income and credit score. Even if you have poor credit or no credit at all, you may still be able to qualify.

However, you do need to be at least 18 and a current college student to be eligible for a card. And you’ll need to have some source of income, such as a part-time job or paid internship.

Do my Chase points expire?

With the Chase Freedom Student card, your rewards never expire as long as your account remains open.

Other cards to consider

While the new Chase Freedom Student card has some excellent perks, it’s not for everyone. If you’re looking for a higher rate of return on your purchases, consider these credit cards as alternatives.

  • Discover it® Student Cash Back: Unlike the Chase Freedom Student card, which has a flat rewards structure, with the Discover it® Student Cash Back you can earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically. Also, Discover will match all the cash back you’ve earned at the end of your first year. You can also apply for the card online.
  • Bank of America®️ Travel Rewards Credit Card for Students: The Bank of America Travel Rewards for Students card has a $0 annual fee. You earn 1.5X points per dollar spent on all purchases. You can apply for the card online.

Author Details

Kat Tretina Kat Tretina is a personal finance expert focusing on practical financial matters, including student loans, debt repayment, side hustles, insurance, and healthcare. Drawing from her personal experience, she aims to simplify complex financial topics and provide individuals with the information they need to make informed decisions.

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