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Good news for those building credit: If you pay your bills on time and develop good credit habits, you can be automatically considered for an upgrade to a better credit card. That's the latest perk Chase is offering on the Chase Freedom Rise®. Here's how this latest feature works.
Freedom Rise Benefits Overview
The Chase Freedom Rise is designed for those new to or building credit. The card has a $0 annual fee and earns 1.5% cash back on every purchase. Cardholders also receive a $25 bonus for enrolling in autopay within three months of opening their account and can increase their application approval odds by having a Chase banking account.
- 1.5% cash back on every purchase
After six months, account holders will be automatically considered for a credit limit raise if they've paid their bills on time and developed healthy credit habits.
New Freedom Rise Benefit: Consideration for Upgrades
Building on that, a new benefit comes a year after opening your account and each year on the account anniversary. Freedom Rise cardholders will be automatically considered for an upgrade to the no-annual-fee Chase Freedom Unlimited®.
Why Upgrade to Freedom Unlimited?
The Chase Freedom Unlimited (Rates & Fees) card earns 5% on travel purchased through Chase Travel℠, 3% on dining at restaurants and drugstores, and 1.5% on other eligible purchases. If you make frequent purchases in those bonus categories, upgrading from Freedom Rise will help you earn rewards faster.
Both cards also offer benefits like purchase protection, extended warranty protection, and trip cancellation and interruption insurance. However, having the Freedom Unlimited could lead to further perks like a higher credit limit and the ability to combine rewards from this card with other Chase cards.
Bottom Line
For those with the Chase Freedom Rise, you've now got another benefit. On top of access to your credit score, credit-building resources, and earning cash back, you'll now be considered for an upgrade to the Chase Freedom Unlimited on your account anniversary each year. That's a solid benefit for moving up to a better card without needing to submit an application or get another inquiry on your credit card along the way.
Looking for more resources about credit? Check out the following:
- A Beginner's Guide to Building Healthy Credit
- How To Check Your Credit Score for Free
- What Teenagers Need to Know About Getting Their First Credit Card
- Can More Credit Cards Help Increase Your Credit Score?
Also, remember that you can access a free copy of your credit report at AnnualCreditReport.com.
For rates and fees of the cards mentioned in this post, please visit the following links: Chase Freedom Unlimited® (Rates & Fees)
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