Chase Freedom® Student

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👍 The Good Stuff (Existing Holders)

✅ Good Standing Reward: Get $20 (2,000 points) every account anniversary for up to 5 years.
✅ Upgrade Path: Easiest way to build a relationship with Chase for future Sapphire cards.
✅ DoorDash: 3 months of complimentary DashPass membership (Activate by 12/31/2027).
✅ Credit Limit Increase: Automatic account review after 5 on-time payments.

👎 The Bad Stuff

❌ Discontinued: You cannot apply for this card anymore.
❌ Low Rewards: Earns only 1% cash back, while the new Freedom Rise earns 1.5%.
❌ Foreign Fees: 3% fee on international transactions (Bad for study abroad).

The Deep Dive

The Chase Freedom Student was once the “backdoor” entrance into the Chase ecosystem for students with thin credit files. While it offered a modest 1% cash back, its real value was building a history with Chase. However, Chase has officially retired this card for new applicants and replaced it with the superior Chase Freedom Rise.

For Existing Cardholders: Should You Keep It?

Yes. There is no annual fee, so keeping it open helps your average age of credit. Plus, you get a $20 Good Standing Reward every year for your first 5 years. That’s free money just for having the card.

The “Lyft” Benefit

Existing cardholders can still earn 2% total cash back on Lyft rides through September 30, 2027. While not as high as the Sapphire Reserve’s 10x, it’s better than the standard 1%.

The Replacement: Chase Freedom Rise

If you are a student looking for a Chase card today, you want the Freedom Rise. Here is how they compare:

Freedom Student (Old): 1% Cash Back, $20 Annual Bonus.
Freedom Rise (New): 1.5% Cash Back, $25 Autopay Bonus.
The Winner: The Freedom Rise is mathematically better for spending.

The Strategy: The “Product Change”

If you have held the Freedom Student card for at least 12 months, you may be eligible to upgrade it. Call the number on the back of your card and ask if you can Product Change to the Chase Freedom Unlimited® (which earns 1.5% to 3%) or the Chase Freedom Flex® (which earns 5% in rotating categories). This lets you keep your credit history while getting a better card.