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Chase has quietly introduced a new iteration of its Freedom card lineup, with the Chase Freedom Student card now available in Chase branches across the US. The Freedom Student card carries no annual fee and offers unlimited 1% cash back on all purchases, which can be converted to valuable Chase Ultimate Rewards points later on if paired with a Chase Sapphire Preferred Card or Chase Sapphire Reserve.

Redeeming Chase Ultimate Rewards for Maximum Value

Based on reports at NerdWallet and Doctor of Credit, the Freedom Student is available to applicants now, though only in-branch. It’s designed for college students who are looking to build credit. There’s no annual fee, a $50 welcome bonus after you make a single purchase within 3 months from account opening and a $20 “Good Standing Reward” — a gift of 2,000 Ultimate Rewards points — after each account anniversary year for the first 5 years.

It doesn’t appear that this card has the lucrative rotating 5% cash back categories that you’ll find on the standard Chase Freedom card. It’s also only available to current students, though if you graduate or cease attending school, you’ll continue to receive the same benefits.

Perhaps the biggest reason to select this card over other college-oriented products is the ability to eventually squeeze even more value from the 1% you’ve collected while in school. When it comes time to redeem Ultimate Rewards points, if you also have a Chase Sapphire Reserve, you can actually transfer all your points to your Sapphire Reserve account and get 1.5 cents per point versus 1 cent (if you book through the Chase travel portal).

And don’t forget to investigate the top ways to get great value from your UR points by transferring them to Chase’s travel partners.


Featured image courtesy of Apple.


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2018 TPG Award Winner: Mid-Tier Card of the Year
Chase Sapphire Preferred® Card



CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

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More Things to Know
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred named "Best Credit Card for Flexible Travel Redemption" - Kiplinger's Personal Finance, June 2018
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
Intro APR on Purchases
Regular APR
18.24% - 25.24% Variable
Annual Fee
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
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