Chase Will Launch Starter Credit Card “Freedom Rise”
Chase currently offers two Freedom credit cards, Freedom Flex and Freedom Unlimited. Both cards are popular no-fee products with good welcome bonuses, especially Freedom Flex which also offers 5% rotating categories.
Now a third Chase Freedom card could be coming later this year. Chase trademarked “Chase Freedom Rise” on February 1st, but at the time there were no other details about the card.
Now we have learned some limited information from JP Morgan Chase Investor Day presentation. Chase revealed that it will launch the newest card in the Freedom family this year.
“Later this year, you’ll see that we’re launching Freedom Rise, a product specifically targeted to this [starter] segment and key to that strategy will be distribution through our branch network”, said Allison Beer, Chief Executive Officer of Card Services and Connected Commerce.
In the presentation we also see an image of the card, which is similar to the other Freedom credit cards.
On page 32 of the presentation Chase says that it will launch Freedom Rise for new-to-credit customers. Then on page 54 it’s noted that Freedom Rise is launching in select channels this year, as Chase leverages the strategic advantage of branches to help new-to-credit prospects.
Freedom Rise seems like a product for customers with no credit history and probably those with bad credit. It’s also possible that the card will initially be available in branches only.
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