If you’re a college student who isn’t ready to throw a graduation cap in the air just yet, take a look at the hat Chase just threw in the ring.

A few months into the new semester, the issuer launched Chase Freedom Student, a credit card designed for those still in school. As of June 9, 2019, students can apply for the card, but only at a Chase branch. Chase calls it an effort “to encourage conversation with students and their parents.”

The main features of the card include:

  • Unlimited 1% cash back on all purchases. Chase says the rewards can also be redeemed for travel through Hunt the Ultimate Rewards®, or for things like gift cards for shopping, dining, and more.

  • A bonus offer: Earn 5,000 points after making your first purchase within the first three months. It’s redeemable for $ 50 cash back.

  • A $ 20 Reputable Reward, available annually for the first five years if you keep your account up to date.

  • Reports to the three credit bureaus – TransUnion, Equifax and Experian.

  • Free credit score access through Chase’s Credit Journey, a website that tracks your credit.

  • An automatic increase in the credit limit after five one-off payments made within 10 months of opening an account.

  • An opportunity to switch to Freedom Hunt® or Chase Freedom Unlimited® after graduation with a qualifying credit score.

The Chase Freedom Student Card aims to provide young adults with tools and information that can guide them on the path to good financial health and independent credit, a spokesperson for Chase said via email.

Chase said the product will have “a low credit limit” and “APRs normally reserved for our most creditworthy customers,” but did not provide details.

The card’s 1% cash back rate is decent for a student credit card, although it is possible to find more lucrative offers. Free credit score access, automatic credit limit increase, and the potential upgrade opportunity all make this a solid option for a newcomer to credit. Keep in mind that the most important thing about a student card is using it to establish a positive credit history. Find out more in our guide to choose a student card.