Freedom Rise credit limit increases

Quick insights

• Freedom Rise^® cardmembers may be eligible for a credit limit increase in as few as six months.
• A credit limit increase may be a good option for some cardmembers providing they can pay off their balance in full each month.
• Every 12 months, Freedom Rise cardmembers are evaluated for an upgrade to a Freedom Unlimited^® Credit Card.

Increased purchasing power and an improved credit score are just a few of the potential benefits of requesting a credit limit increase. If you’re looking for a Chase Freedom Rise credit limit increase, you may want more opportunities to earn 1.5% cash back on every eligible purchase. A higher credit limit may be within reach if you meet certain criteria.

Let’s unpack how you could potentially get a Freedom Rise credit limit increase.  

Understanding the Chase Freedom Rise credit card

The Freedom Rise Credit Card is considered a starter credit card. That means it’s designed to be a first credit card to help people get on a path to building credit.

Here are just a few of the perks and benefits that come with being a Freedom Rise cardmember:

• Low annual fee
• 1.5% cash back on eligible purchases
• $25 one-time statement credit for setting up automatic payments for your card
• Potential for a Freedom Rise credit card limit increase after six months

How Freedom Rise credit limit increases work

A credit limit is the maximum amount the credit card issuer allows you to spend with your credit card. How to increase your credit limit can vary.

In some cases, Chase may automatically give eligible cardmembers a higher credit limit. Typically, Chase evaluates Freedom Rise cardmembers for an increase after six months. You may also contact Chase via the phone number on the back of your Freedom Rise card to request an increase.

Steps that could increase your odds of qualifying for a Freedom Rise credit limit increase include:

• Making on-time payments
• Paying more than the minimum payment
• Paying your balance in full when possible

Keep in mind that many variables go into determining eligibility for a credit limit increase, and the increase is not guaranteed.

When to request a credit limit increase

A credit limit increase can be a strategic financial move. Here are some scenarios where you may want to consider requesting a higher credit limit:

• Your income increased. The greater financial security that comes with a raise may better equip you to pay your balance in full each month after the issuer raises your credit limit. As your income usually affects your credit limit, you may consider notifying the card issuer when you get a raise.
• Your creditworthiness improved. Creditworthiness—an assessment of your ability to pay back debt—is a factor credit card issuers consider when determining your eligibility for a higher credit limit.
• You have a history of on-time credit card payments. The credit card issuer may consider your payment history on the card when determining whether to raise the credit limit.
• You want to lower your credit utilization ratio. Your credit utilization ratio—the money you owe on your credit cards divided by your total credit limit—is one factor that goes into calculating your credit score. Generally, a lower credit utilization ratio is preferable. A higher credit limit may help lower this ratio providing you keep your credit card balance low.
• You need to make a large purchase with a credit card. If you need to make a large purchase that requires a credit card, such as an expensive hotel stay or car rental, that could be a reason to request a higher credit limit as long as you can afford to pay off your balance in a reasonable time frame.

Potential drawbacks of credit limit increases

A credit card limit increase may not be the right choice for everyone. There are some disadvantages that could result from a higher credit limit. In some cases, requesting an increased credit limit results in a hard inquiry on your credit report. Multiple hard inquiries may have a negative impact on your credit score.

Additionally, a credit limit increase could lead to more spending as a result of the expanded credit availability. That may not be a concern if you can afford to pay your balance in full every month. However, if you have trouble paying off the balance, that could lead to interest charges and fees, which could result in a lower credit score.

Alternatives to Freedom Rise credit limit increases

If a credit limit increase on your Freedom Rise credit card isn’t an option, there may be other ways to improve your access to credit.

Upgrade to a Chase Freedom Unlimited Credit Card

Each 12-month period, Freedom Rise cardmembers are automatically evaluated for an upgrade to a Chase Freedom Unlimited Credit Card. Here’s the criteria Chase may use to determine eligibility:

• Your Freedom Rise account is open.
• You’ve made a purchase on the card in the past 12 months.
• You’ve made on-time payments to all financial lenders in the past 12 months.
• None of your Chase accounts are suspended.

If you are upgraded to the Freedom Unlimited card, it’s possible you’ll have a higher credit limit. Freedom Unlimited cardmembers earn 1.5% cash back on all eligible purchases, plus additional rewards on eligible dining, drugstore and travel purchases.

Open another credit card account

If you need an additional line of credit, you could apply for a new credit card. Having multiple credit cards may help you build credit, but having multiple cards comes with more potential for overspending. More credit cards mean more payment dates, credit card terms and rewards programs to keep track of.

In summary

If you have a Chase Freedom Rise Credit Card, you may be eligible for a credit limit increase after six months. This could help improve your credit utilization ratio, allow you to make big purchases that require a credit card and put you on a path toward building your credit. A credit limit increase may be a good idea if you’re still able to pay off your Freedom Rise card in full each month.

Freedom Rise cardmembers are evaluated for an upgrade to a Freedom Unlimited Credit Card every 12 months, and this upgrade could potentially improve a cardmember’s access to credit.