Chase will introduce its very first credit card the following month

Since November, Chase Bank has been testing its first credit card for a limited number of employees and consumers According to BFIA, the bank will begin offering the card to all customers in June

Will its credit offering be as well-liked as its current and savings accounts, which have made the bank popular?

Chase is introducing its first credit card in the UK market as part of its ongoing product expansion.

Is Chase's credit card offering any good? Chase has a reputation for offering some of the best rates on savings accounts, and its cashback has been a popular feature for existing account holders.

Following a pilot with the bank's staff, the digital bank has been quietly testing the credit card since November, inviting over 25,000 current Chase customers to use it.

The BFIA can now disclose that the credit card is undergoing additional testing and should be available to the public by the end of June. The upcoming weeks should see the release of more information.

Its popular current account and savings account will undergo some changes prior to the launch.

Chase lowered the interest rate on its boosted savings account last week, allowing savers to earn only 4.5 percent. It used to be 4 percent, but now it includes a six-month fixed bonus rate of 1 percent.

On May 8, the Bank of England decided to cut the base rate by 25 basis points to 4 percent, which resulted in the rate cut. In February, the Chase Saver rate was also lowered.

However, Chase changed its well-liked cashback offer in April. As a result, current account holders can only receive 1% cashback in specific locations and can only make purchases made in the UK that are paid for in pounds sterling. Cashback used to be given on all purchases made in the UK or abroad.

However, can Chase attract new clients with a credit card offer? We examine the current information regarding Chase's new credit card.

The new credit card from Chase for the UK market.

Chase, a digital bank backed by JP Morgan, is launching its first credit card for the UK market. Chase currently only provides savings and current accounts, but you can also invest through the Chase app with Nutmeg, a division of JPMorgan.

Last November, the bank announced that it was testing a new credit card. Chase stated: "After extensive testing by our colleagues, a limited number of qualified customers can now apply for the new Chase credit card.

"This group will assist us in ensuring that everything functions properly before we invite additional clients to use the Chase app to verify their eligibility.

Without having to wait for the actual card to arrive, customers who are approved for the credit card can begin using it right away through their digital wallet.

"We're thrilled to be able to give a small group of current customers the opportunity to try our first credit card product," stated Kuba Fast, the CEO of Chase UK at the time.

This is a crucial next move in broadening our offer to accommodate client borrowing requirements.

Customers of Chase must currently wait to be invited to apply through the app. It should, however, be prepared for "general availability" starting next month. This implies that anyone with an existing Chase account can apply for the card.

The BFIA is aware that the credit card has no annual fee, no foreign exchange fees, and zero percent interest on purchases.

According to Chase, the information will be verified in the upcoming weeks.

Chase offers a variety of credit cards in the United States, including the well-known "Sapphire" card. You can get "premium dining and travel rewards" for a £95 annual fee. For instance, if they accumulate 60,000 points, they can use Chase Travel to redeem £750 for travel.

In order to broaden its offering, Chase is reportedly planning additional product launches for the third quarter of this year. The Sapphire card will not, however, be available in the UK in 2025.

Every single one of Chase's two million+ customers in the UK has a current account with the bank.