FREEDOM RISE^®
GET THE CREDIT, KEEP THE CASH BACK

A credit score is a number from 300 to 850 that tells banks how likely you are to pay your debts on time --the higher the number, the better. It's calculated based on factors like your payment history, amount of debt and the length of time you've held credit in your name.

 

Without a good credit score, life becomes more complicated. You can have trouble getting a credit card, renting an apartment and buying or leasing a car. Later on in life, it can get in the way of purchasing a home or making other big investments.

 

Who comes up with the credit score number? Most banks look at three credit bureaus: Equifax^®, Experian^® and TransUnion^®. If you're someone who's never had credit, your credit score is probably pretty low because the credit bureaus don't have any information on you yet. Or, you might not have any record of credit at all. Don't worry, this is normal when you're starting out.

 

How can you establish credit? One of the best ways is to get a card that's designed for people new to credit, like Freedom Rise^®. If you can't get a credit card on your own, you could ask one of your parents to be a cosigner or make you an authorized user on one of their cards.

 

Once you've established credit, make sure that you maintain a good credit score. You can keep an eye on it at chase.com/credit.

A higher credit score lets banks know you're financially responsible. This makes it easier to get approved for a new credit card like Freedom Rise℠, which has no annual fee and lets you earn cash back.

 

When you're ready to make a big purchase, like a car or home, a good credit score means you'll have a better chance of getting a lower interest rate. The lower the interest rate, the lower your monthly payment.

 

There are a lot of ways you can improve your score, but here's where you should start.

• Always pay your bills on time. Your payment history is one of the most important factors in your credit score, so consider setting up automatic payments so you don't forget.
• Watch your credit utilization ratio, which is the amount of credit you're using compared to your total credit limit. Pay down any credit cards where you owe more than 30% of your limit. Also, be careful about canceling credit cards because that could reduce your score.
• Check your credit report regularly. Order a free copy of your credit report from each of the three credit bureaus (Equifax^®, Experian^® and TransUnion^®) at chase.com/credit.

 

To make all this easier for you, Freedom Rise comes with tools that help you manage your credit—including Chase Credit Journey^®.

If you’ve done your research and found a credit card that’s right for you, the next step is applying. But before you do, make sure you’ve really looked at all your options. Applying for a card is easier than ever, but it’s not quite as effortless as grabbing your phone and tapping a “gimme credit” button. There are a few steps you need to follow so that everything goes smoothly.

 

Check your credit history

First, make sure there are no credit issues that could get in your way. Order a free copy of your credit report from each of the three credit bureaus (Equifax^®, Experian^® and TransUnion^®) at chase.com/credit. Banks look at these reports to make sure you’re someone who pays bills on time, doesn’t miss payments and doesn’t already have too many credit cards for your income. If you see a mistake, you can dispute it with the bureaus to get it removed. If the issue is legitimate, the bureaus can give you information on repairing your credit. You should know that if you're new to credit, the bureaus may not have information about you. Don't worry. This is normal for new applicants.

 

Make sure you’ve picked the right card

Don’t apply for a bunch of credit cards all at once because it will lower your credit score. Instead, choose one that really fits your needs. For example: Freedom Rise^® is a great first credit card. It has no annual fee and lets you earn cash back while you build your credit.

 

Gather all the information you’ll need

This will save time and prevent you from getting logged out while you run around looking for stuff.

• Your full legal name—the one that’s on your driver's license, passport or other legal documents
• Your Social Security Number (SSN) and/or Individual Taxpayer Identification Number (ITIN)
• Your mailing address where you want to receive your card and statements—this should match the address on your license, ID or other legal documents
• Your gross annual income—your salary before they take out taxes, plus any money you make from side hustles. This can even include funds you regularly receive from someone else, like money your parents give you to help with rent.
• Your employment status—full time, part time, freelance, etc. You may also need to provide your employer's phone number. Or if you are self-employed, a tax document like your federal or state returns.
• Your rent payment amount
• Your phone number—you might get a call for follow-up requests or questions

 

Stay safe

Before applying online, prevent your personal information from getting in the wrong hands by using a secured Wi-Fi network or your mobile data connection. Also, make sure both your web browser and OS are up to date.

 

Fill out the forms and apply

Most of the time, you’ll know if you’re approved right away, but sometimes it can take a few days. Once you’re approved, your card should arrive in about 7 to 10 days. When you get it, you’ll need to activate your account before you can start using it.

 

Remember: If you’re looking for a card that helps you build credit, plus gives you cash back on purchases, check out Freedom Rise.

If you don't activate your card, you won't be able to use it. Good news: It only takes a couple minutes.

 

Option 1: Give us a call

 

Look for a sticker on the card with a phone number. When you call, we'll ask a few questions to confirm your identity. Then, you'll be ready to go.

 

Option 2: Activate online

 

The sticker on your card also has a site you can visit. Like calling, you'll be asked a few questions to make sure it's really you and then your card will be ready to use immediately.

 

What happens if you don't activate?

 

You won't be able to use your card, but your account will still be open. So if you're really not planning on using the card, you might want to cancel it. Keep in mind, this could affect your credit score. If the card isn't right for you and you'd prefer one where you can earn cash back and pay no annual fee, check out the Chase Freedom Rise^® card.