Chase Freedom Rise Credit Card Launching Later This Year
Update: Chase Freedom Rise is expected to launch on June 11, 2023. Here are the details of the card, as first shared by Doctor of Credit:
- No annual fee
- Earn 1.5% cash back on all purchases. Features Chase Ultimate Rewards, which can be redeemed for cashback, travel, gift cards, and more
- Welcome Bonus of $25 statement credit after signing up for automatic payments within the first three months of account opening
Some other details about the card:
- Becoming a Chase checking account holder with a checking balance of $250+ will increase your chances of getting approved.
- This is a card aimed at customers with no credit history.
- Cardholders cab be evaluated for a credit limit increase in as soon as six months
- Chase Freedom Student card is being discontinued for new applicants on June 11, 2023.
Chase filed a new trademark earlier this year for “Chase Freedom Rise“. Then this week, during the 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.
On page 32 of the presentation Chase says that it will launch Freedom Rise for new-to-credit customers. Then on page 54 it says that Freedom Rise is launching in select channels this year, as Chase leverages the strategic advantage of branches to help new-to-credit prospects.
No exact details have been revealed about the new Freedom Rise card. But this is clearly a card for customers with no credit history and probably those with bad credit. So I wouldn’t expect this new credit card to come with tons of perks and benefits, if any at all.
