diff --git a/charts/redis/Chart.yaml b/charts/redis/Chart.yaml
index a0c8fe857a6f5f37b4445dbb3d0de03775805a9e..abbf24f98598ff30b11f48301a8af699889ab993 100644
--- a/charts/redis/Chart.yaml
+++ b/charts/redis/Chart.yaml
@@ -8,7 +8,7 @@ maintainers:
   - name: groundhog2k
 
 # This is the chart version
-version: 0.4.12
+version: 0.5.0
 
 # This is the version number of the application being deployed.
-appVersion: "6.2.7"
+appVersion: "7.0.0"
diff --git a/charts/redis/README.md b/charts/redis/README.md
index fd27e8d945d13ac81e90c0d06a1ca5ffccc1ccee..bf4113a75a5dc227d458e19aa254700194cd0ec1 100644
--- a/charts/redis/README.md
+++ b/charts/redis/README.md
@@ -1,6 +1,6 @@
 # Redis
 
-![Version: 0.4.12](https://img.shields.io/badge/Version-0.4.12-informational?style=flat-square) ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat-square) ![AppVersion: 6.2.7](https://img.shields.io/badge/AppVersion-6.2.7-informational?style=flat-square)
+![Version: 0.5.0](https://img.shields.io/badge/Version-0.5.0-informational?style=flat-square) ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat-square) ![AppVersion: 7.0.0](https://img.shields.io/badge/AppVersion-7.0.0-informational?style=flat-square)
 
 ## Changelog
 
diff --git a/charts/redis/RELEASENOTES.md b/charts/redis/RELEASENOTES.md
index abf67d85360ef9ebc72fb4a134d8445c34b8bb63..68ceabf3e738a57984a9ce90f70974b7ead42c8c 100644
--- a/charts/redis/RELEASENOTES.md
+++ b/charts/redis/RELEASENOTES.md
@@ -5,4 +5,5 @@
 | 0.4.10 | 6.2.6 | Implemented startupProbe support |
 | 0.4.11 | 6.2.6 | Implemented support for extra secrets and advanced configuration capabilites |
 | 0.4.12 | 6.2.7 | Upgraded to Redis 6.2.7 |
+| 0.5.0 | 7.0.0 | Upgraded to Redis 7.0.0 |
 | | | |