Chase Freedom Student Credit Card [Update 2020.4: Now Available Online, Up to 15,000 Points]

Chase Freedom Student Credit Card Review

Key Features

• This card can only be applied for as a student (including international students on F visas and visiting scholars on J visas), and you must be at least 18 years old.
• After graduation or after your student status ends, the benefits on this card do not change.
• You can list income from seasonal jobs, internships, public assistance benefits, investments, etc.
• This card focuses on credit education (so it may occasionally send educational materials).
• During the first 10 months, your credit limit will increase after every five on-time payments.
• You can enter an ITIN when applying for this card. If you do not have an SSN, you may consider applying for an ITIN to get this card. It is also currently the only Chase personal credit card that allows ITIN applications.

My Take

The benefits on this card are fairly average. The 5,000 UR + 10,000 UR (if you keep it for 5 years) is basically about the same as the current Freedom. It also lacks the rotating 5% quarterly categories, so it does not seem especially useful. Of course, Chase likely designed this card to target first-time credit card users. While giving them a credit card, Chase can also provide some basic education, which is a way to attract a group of relatively low-risk customers early on. My guess is that this card may later be eligible for a product change to a regular Freedom card.

In fact, both Discover and Citi already have their own student cards. Discover it Student is the most generous: the benefits and welcome bonus are exactly the same as the regular Discover it, plus it also offers an annual good grades reward. With Citi, the student version usually has a smaller welcome bonus than the regular version. Setting aside the educational features, if students find this card easier to get approved for, then starting out with this card is not a bad idea. After all, going from zero credit history to your first card is the hardest step. Once you use your cards responsibly and pay on time, you can eventually apply for almost any card.

It is still unclear whether this card can be converted to a regular Chase card, such as the more rewarding Freedom or Freedom Unlimited. Feel free to try.

The eligible student category for this card is fairly broad. In other words, Chase or the banker may not strictly verify whether you are truly a currently enrolled student. Visiting scholars holding J visas may also apply, which makes this card suitable for J-1 visitors on short-term academic programs who otherwise may not be able to get a Chase credit card.

Points System

• Point value: The average value is 1.6c/p, so 100 UR = $1.6 (Point Values and Analysis)
• Direct redemption: Cash redemptions are worth 1c; travel redemptions are worth 1c (without a premium card). Premium hotel redemptions or business/first class flights can yield 1.75c (with Ink Preferred or Sapphire Preferred), and 2c with the Sapphire Reserve.
• Point transfers: Transfer 1:1 to United miles (good for China–US economy, domestic US economy, and one-way tickets); transfer 1:1 to British Airways miles (good for China–Japan and short-distance domestic US redemptions); transfer 1:1 to Hyatt points (great for Hyatt hotel stays, with value up to 1.8 cents per point).
• Point features: Ultimate Rewards points can be freely moved among your own cards. They can also be transferred to one designated spouse or partner. To transfer points to airline miles or hotel points, you need support from Ink Preferred, Sapphire Preferred, or Sapphire Reserve. You can also transfer to the mileage or points account of an authorized user.
• My take: UR’s main airline transfer partners are United Airlines, British Airways, Aeroplan, and Air France. UA can book most Star Alliance award tickets, while BA covers some domestic US AA flights. On the hotel side, Hyatt is the best option and can often deliver about 1.6c in value per point, but Hyatt has a relatively small footprint in the US, so your choices may be limited. If you have the Sapphire Preferred or Sapphire Reserve, booking flights, hotels, and activities through Chase Travel can get you 1.25c/1.5c in value, which is one of the best high-value options for beginners. Cash/gift card redemptions are worth 1 cent.
• Detailed analysis: Ultimate Rewards Guide >>

How to Apply

Suitable for students and visiting scholars with no credit history. You can enter either an SSN or an ITIN when applying.

Chase Credit Card Application Guide

• Chase application status check link (login required). Or call: 888-338-2586
• The 5/24 rule: if you have opened more than 5 new cards in the past 2 years (including cards from other banks), you will not be approved for a new Chase card
• You can be approved for at most two Chase credit cards within every 30 days
• If you have received the welcome bonus on this card within the past 24 months (48 months for the Sapphire family), your application will be automatically denied
• You can call the reconsideration line (800-453-9719) to expedite card approval or request a review of a denied application.
• Having a Chase Checking account can help with getting approved for a credit card
• More on applying for Chase credit cards

Application Link

• Chase Freedom Student