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Chase Freedom Rise® is a no-annual fee credit card from Chase, which allows you to accrue highly valuable Chase's Ultimate Rewards® Points for all your eligible spendings, while building your credit.

In this posting, I will describe major features of this consumer credit card, and then will explain one often misunderstood feature of this credit card.

1. Major Features

Chase Freedom Rise® Credit Card has the following major features.

1) 1.5% cash back on all purchases

With Chase Freedom Rise® Credit Card, you will earn 1.5% cash back on all purchases. According to the Program Agreement, you will earn this cash back in the form of 1.5 points for each $1 spent. For example, if you spend $100, you will earn $1.50 in Cash Back rewards, which is equal to 150 points.

2) $25 for enrolling in autopay 

When you sign up for automatic payments within the first three months, you will earn $25 statement credit. A late payment or two are detrimental to your credit history, so it is always a good idea to set up autopay!

One thing to note here: According to Offer Details, “the value of this offer or program may result in miscellaneous income received from Chase and we may be required to send you, and file with the IRS, a Form 1099-MISC (Miscellaneous Information) or Form 1042-S (Foreign Person’s U.S. Source Income Subject to Withholding) for the year in which you participate and are awarded the benefits of the offer/program.)”

3) No annual fee

When it comes to a credit card, you need to think about long-term commitments. In this respect, getting a no-annual fee credit card is a better choice for most consumers, but especially for those who have relatively short credit history.

In this respect, Chase Freedom Rise® Credit Card fits the bill.

2. Did you know? 

Chase Freedom Rise® Credit Card is categorized as a cash back consumer card that offers a cash back based upon your everyday spendings.

But did you know that you actually earn Ultimate Rewards points (Chase's proprietary rewards points) rather than cash?

According to the offer details, “Cash Back rewards are tracked as points and each $1 in Cash Back rewards earned is equal to 100 points.”

Also, according to the Program Agreement, you can “Combine points with other Chase cards with Ultimate Rewards,” moving “your points, but only to another Chase card with Ultimate Rewards belonging to you or one member of your household.”

In other words, you earn Ultimate Rewards Points, which of course has many more (and often more useful) options than a cash redemption.

For example, if you also hold Chase Sapphire Preferred® credit card, you can combine your Ultimate Rewards points from Chase Freedom Rise® Credit Card into those of Chase Sapphire Preferred® credit card. And because Sapphire Preferred® credit card has the feature of transferring points to leading frequent travel programs at full 1:1 value, you can transfer Ultimate Rewards points to Hyatt's World of Hyatt Program at 1:1 ratio.

Hyatt points are valuable, and you can redeem 40K Hyatt points for a one-night stay at Park Hyatt New York, which retails in the range between $800 and $1,000.

In short, Chase Freedom Rise® Credit Card has more potential than a simple cash back credit card.