The Chase student credit card is an excellent choice for college students who wish to get their credit history off to a good start. Along with rewarding you on every purchase, it provides a good incentive for paying your account on time each month, making it function similarly to a credit-building or starter credit card.
By charging no annual fee and offering a relatively low ongoing APR, the Chase Freedom Student keeps expenses low for students building credit. The card also comes with a decent set of benefits and is an excellent entry point into the lucrative Chase Ultimate Rewards programme, which is one of the most flexible and potentially valuable rewards programmes on the market.
However, while the card’s rewards rate is better than nothing, it is not the best rate available on a student credit card. There are a few student credit cards that offer more than 1% back on every transaction or in particular spending areas.
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Benefits of Chase Student Credit Card
This is one of the most important things you need to know about the Chase student credit card. Unlike the other credit cards, the student credit card is undoubtedly more beneficial, in terms of both rates and exchange rates. Here are some of the best benefits of Chase Bank student credit cards you need to know:
- As this card is designed for students, it may be easier to qualify for than the best rewards cards on the market
- A minor welcome bonus of $50 is given to cardholders who make their first purchase with the card within the first three months after opening their account
- Thanks to the implementation of no annual charges, this card is available to most students on a tight budget who require credit
- A possible line of credit expanses and good-standing bonuses encourage cardholders to utilise credit wisely and pay their bills on time
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Offers Provided by Chase Student Credit Card
Even though the offers provided by the Chase Bank student credit card will depend on numerous things, the offers are more than enough to capture the attention of the students. Continue reading to know some of the best offers provided by the Chase student credit card.
Welcome Bonus
Cardholders who make a purchase with the Chase Freedom Student Unlimited card within three months of opening an account will receive a $50 cash bonus (5,000 Chase Ultimate Rewards points). This incentive is quite simple to obtain because any purchase qualifies – even a pack of gum.
Although it isn’t much money, the Chase Freedom Student card’s $50 bonus and low spending threshold are impressive. A normal rewards card takes at least a few hundred dollars in spending to qualify for a sign-up bonus, and most student credit cards do not offer any sign-up bonus at all.
Rewards
The Chase student credit card, as a flat-rate cash-back card, makes it simple to earn rewards without having to bother about enrolling in bonus categories or keeping track of where, when, and what you buy. Simply use the card for all of your purchases to get consistent cash back.
The Chase Freedom Student card keeps things simple by offering a flat 1% cash-back return on all purchases. However, you will receive Chase Ultimate Rewards points, which may be used in a variety of ways other than cash back.
You can redeem your Chase Freedom Student rewards for cash back in the form of a statement credit, gift cards, travel, or purchases at Chase-partnered shops.
You can also use your points to make Amazon purchases, which works well with a student Amazon account. Through Ultimate Rewards, Apple consumers may redeem points for all Apple purchases.
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How Much the Rewards Are Worth Of?
The value of your Chase student credit card rewards is determined by how you redeem them. While redeeming points for cash back is straightforward, with 1 point equaling 1 cent in cash back, redeeming points for products through Chase may provide less value. Meanwhile, using your points to make purchases on Amazon.com will earn you a paltry 0.8 cents per point.
On the other hand, if you redeem certain gift cards, you can occasionally get more than one cent per point in value for your rewards. This is because Chase Ultimate Rewards offers frequent gift card “sales” in which gift cards are offered at reduced prices.
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Rates and Fees
The Chase student credit card, like most student credit cards, has no annual fee, making it a better option than many credit-building cards offered to non-students.
Unfortunately, the card does not provide an introductory APR on new purchases or balance transfers, so it will not be a suitable option if you’re searching for a means to save on interest while paying off existing debt or chipping away at the cost of a significant purchase over time.
Nonetheless, the card’s continuous variable APR of 19.74 per cent is slightly lower than the current average credit card interest rate. While carrying a load over time might be costly, this rate is a little more forgiving than the APR on comparable student cards.
FAQs
Ans. Yes, Chase has a student credit card called the Chase Freedom® Student credit card. This card has a $0 annual fee and offers 1% cash back on purchases. The Freedom Student card also reports to the three major credit agencies (Equifax, Experian, and TransUnion) on a regular basis and accepts applicants with poor credit.
Ans. The Chase Freedom® Student credit card is an excellent first-time credit card because it is open to consumers with poor credit and gives rewards, including 1% cash back. The annual charge for the card is $0. Responsible use improves credit because the Freedom Student submits account information to the major credit agencies on a monthly basis.18-Jul-2023
Ans. The Chase Freedom® Student credit card has no annual charge, which is standard for most student credit cards. Because the card has a variable APR of 19.74%, it’s better to pay your amount in full every month.
This is everything you need to know about the Chase Bank student credit card. We hope you found this blog informative and helpful. For more information, make sure you visit our website. If you’re looking for a student loan to complete your higher education abroad, make sure you contact Fly Finance.
