Chase Freedom Rise®

Pros

✅ No annual fee

✅ Introductory promotional offers with fixed APRs for certain durations

✅ At least 21 days grace period to avoid interest on new purchases if the balance is paid in full

✅ No minimum interest charge

✅ Fixed monthly fee for "Pay Over Time" with no interest

✅ Transparent terms and conditions with detailed disclosures

✅ Military Lending protections capping APRs at 36% for Armed Forces members

Cons

❌ High purchase APR

❌ High cash advance APR of 29.24% and fees (either $10 or 5% of the transaction amount)

❌ Penalty APR up to 29.99% that can remain indefinitely for late or returned payments

❌ Balance transfers are subject to fees (either $5 or 5%, whichever is greater) and may not be eligible for all accounts

❌ Foreign transaction fee of 3%, making it less suitable for international use

❌ Late and returned payment fees up to $40

❌ No rewards or cashback program mentioned

❌ Monthly fee of up to 1.72% for using the Chase Pay Over Time feature

❌ Variable terms based on creditworthiness, potentially leading to less favorable terms

❌ Complex fee structures, including multiple layers of transaction and plan fees