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Chase, the consumer and commercial banking division of JPMorgan Chase & Co. in the United States, has launched Chase Freedom Rise, a credit card aimed at consumers with no credit history.
Cardholders earn 1.5% cash back on every purchase, pay no annual fee, and have no minimum threshold for redeeming rewards. In addition, cardholders enrolling in autopay within the first three months of opening an account receive $25.
Chase recommends applicants have a Chase checking account with a minimum balance of $250 when applying for the card or open a properly funded checking account within two days of applying for the card. Consumers can apply for the card in a Chase branch.
To help cardholders build their credit history, Chase is enabling cardholders to check their credit score for free and will provide access to educational and credit-development resources.
“We know that customers are looking for options when they begin their credit journey, so we want to help make it more accessible to them,” Brent Reinhard, general manager of Chase Freedom, says in a statement. “Chase Freedom Rise is built so that customers can improve their chances of getting approved by simply having or opening a Chase checking account. We’re also giving them the opportunity to begin building their financial credit.”
Chase Freedom Rise expands the banking giant’s existing portfolio of Chase Freedom credit cards, including the Chase Freedom Unlimited and the Chase Freedom Flex cards, both of which offer cash back on purchases. Both will be available digitally in early 2024.
