The Chase Freedom Rise℠ card is the best starter credit card available to people with limited or no credit history right now. Chase Freedom Rise℠ is so good because it offers above-average rewards at a lower-than-average cost, giving you 1.5% cash back on all purchases and not charging an annual fee. That combination could save you more than $500 per year. Plus, you can save $25 right away by setting up automatic monthly payments within three months of opening an account. 

Given its rewards and $0 annual fee, the Chase Freedom Rise℠ card is a worthwhile option for most credit newcomers. However, you should not apply if you plan to carry a balance from month to month or use your card abroad. Carrying a balance will result in expensive interest charges that effectively cancel out your rewards. Using Chase Freedom Rise℠ abroad will trigger a 3% of the amount of each transaction in U.S. dollars foreign transaction fee. 

Below, you can learn more about what I like and dislike about this offer. 

What I Like About Chase Freedom Rise℠

1.5% cash back on all purchases

Many starter credit cards have no rewards at all, and those that do reward you for making purchases typically charge annual fees or offer just 1% back. The Chase Freedom Rise℠ credit card is very unique in that it offers about 50% more value than the average rewards card without making you pay extra for such a generous earning rate. 
 

$25 statement credit bonus

This is far from the biggest bonus on the market right now, but it’s among the easiest to earn. All you have to do is set up automatic monthly payments from a bank account within three months of opening your Chase Freedom Rise℠ account. Besides, most credit cards for beginners don’t even offer an initial bonus to begin with. 
 

$0 annual fee

Not having to pay an annual fee saves you $21.58 per year compared to the average credit card offer and allows you to maximize your credit-building efforts as well as use the savings for something more important. You can keep your account open for longer without feeling wasteful when you don’t have to worry about annual fees, which can help extend the length of your credit history and add more positive information to your credit report.  
 

Available to people with little-to-no credit

This card is designed for people who are new to credit, so you don’t need a certain score to get it. That said, the more positive credit history you have, the easier the card will be to get. Plus, if you have at least $250 in a Chase checking account, your odds of being approved for Chase Freedom Rise℠ will be higher. 
 

Reports to the major credit bureaus

Monthly credit-bureau reporting is essential if you want to build credit quickly. You just need to make sure the information being reported is accurate and reflects responsible account management. You can keep track of your credit report and credit score right here on WalletHub as you use the Chase Freedom Rise℠ card to make sure you’re headed in the right direction. 
 

$500+ credit limit

The minimum credit limit for Chase Freedom Rise℠ is $500. The specific limit you’ll be assigned if approved for an account will depend on your credit score, income, debt and other factors. If these things show you have a lot of disposable income and are very trustworthy, you might even get approved for the Visa Signature version of this card with a $5,000+ limit, but don’t count on it.   

You’ll also be evaluated for a higher credit limit as soon as six months after you open your account. You’re most likely to get an increase if you pay your bill on time every month and keep your credit utilization fairly low. 

What I Don’t Like About Chase Freedom Rise℠

26.99% (V) APR 

At 26.99% (V), the Chase Freedom Rise℠ card’s interest rate is higher than the average among new credit card offers right now (22.9%). That’s really saying something, too, as credit card rates are very high in general. 

This doesn’t have to be a major drawback, though. If you pay your bill in full by the due date each month, as you should when starting to build credit, the interest rate won’t affect you. Interest only applies when you carry a balance from month to month. 
 

3% of the amount of each transaction in U.S. dollars foreign transaction fee

If you’re traveling to another country, or just making purchases from merchants located outside of the U.S., you should use a different credit card for those transactions. Limited credit won’t keep you from getting approved for a credit card with no foreign transaction fee.