Chase Freedom Student Card Coming in June
Chase has a new version of its popular Freedom card in the works. Thew new card is called Freedom Student and should be launched on June 9th. It’s not a very exciting product, but should be an easier option for those with lesser credit.
Doctor of Credit posted the details of this new card. This is a card for students 18 or older only and it’s a regular credit card, not a secured card. Here’s what we can expect:
- $50 signup bonus after first purchase within 3 months
- Good Standing reward of $20 (2,000 Ultimate Rewards points) for 5 years at the account anniversary date, as long as the card is open in good standing
- No annual fee
- 1% cashback on all purchases (no rotating categories like the regualar Chase Freedom card)
- If you graduate or stop going to school, you’ll continue receiving all the same benefits as before
- Automatic credit limit increase after 5 on-time payments within the first 10 months
This is a decent card for students that comes with a $50 bonus, and a $20 annual bonus for the first five years. That’s a total of $150 or 15,000 Ultimate Rewards points. Not huge, but it’s something for student that probably do not have many credit card options at first. Sadly Chase is not offering 5% rotating categories on this card.