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August 22, 2017

Chase Freedom Unlimited Credit Score: What You Need to Know

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Chase Freedom Unlimited usually requires a good credit score (680+). But this is not the only deciding factor. Find out how to improve your odds.

How to Get Approved for Chase Freedom Unlimited

The Chase Freedom Unlimited is a great everyday cash back card to have in your wallet.

You get an unlimited 1.5% cash back on all purchases, with no rotating categories and no annual fee.

How easy is it to get?

We break down the different factors Chase will usually consider, and what you can you do to maximize your chances.

What is the Best Chase Credit Card Promotion for 2017?

Credit Score Needed for Chase Freedom Unlimited

Fortunately, the approval requirement for Chase Freedom cards is not as strict as for the Chase Sapphire credit score requirements. This card is generally for those with "Good to Excellent" credit.

There are multiple "credit scores" from different credit bureaus. But in general, 680 is considered a good score. Most Chase Freedom Unlimited cardholders have "good" scores around 680 or higher. Some people have even gotten approved with a credit score as low as 650.

But it doesn't mean you will be automatically denied if your score is under 680. And sometimes, even people with scores in the high 700s don't get approved.

The credit score is not the only thing that Chase considers when reviewing your application. They will look at other factors as well. We go over what they are next.

Factors That Chase Considers

Many things are taken into account during the decision process. Consider these factors to help improve your Chase Freedom Unlimited approval odds:

  • Your credit score: Chase will usually pull your credit report from a couple of the three credit bureaus (Equifax, Experian, and TransUnion). Your scores may be different across each bureau. So banks will usually look at more than one to get a more complete overview.

  • Your total open cards: A lot of open cards could mean that you're not good at handling your money. Or that you open a lot of cards for the sign-up bonuses. Chase is looking for loyal customers, so they may not want to invite you into their family.

    On the other hand, if this is to be your first credit card, then you don't have any other open cards. Chase will have limited information to judge your ability to responsibly use a credit card.

    Tip: Chase has a 5/24 rule. If you've opened 5 credit card accounts in the past 24 months, your Chase application will not be approved. This applies to cards with any bank (not just with Chase).

    This is the main reason people with high credit scores get rejected. So make sure you prioritize this application over any others.

  • Your total credit limit: If you have too high of a credit limit from your other cards, you may not be approved either. That would come off as a red flag - that you're asking for more credit. This leads to the next factor.

  • Your credit utilization: This means how much of a balance you're carrying compared to your total limit. Ideally, you should never go over 30%. A high percentage is a signal that your income does not support your spending.

    It's best if you apply for the Chase Freedom Unlimited after you have paid off your balance on your other cards. Let's say you have a month where you made a few large purchases. Wait to apply until after you've paid them off.

  • Your recent hard inquiries: People have reported being rejected because there were too many inquiries on their credit recently. This tells banks that you're desperate for credit. If you're very interested in this card, apply for it first before other card applications.

If you think you may not meet any of these factors, it doesn't mean you can't get approved. Read on.

What Can You Do If You Don't Get Approved?

If you get a rejection, it may not be the end. Here are a couple of things you can do.

  • Call the reconsideration hotline: If you believe you have great credit and meet the criteria, you can talk to a representative. Chase has a line where you can explain your situation. This can help them better understand you and possibly reconsider the decision. Here are some tips:

    • Be polite and ask if there's any more information you can provide.
    • Be ready to explain any recently opened credit accounts or credit inquires. Maybe you took out a mortgage or just switched to a new cell phone provider.
    • Explain why you want the card. Don't just talk about the sign-up bonus. For example, maybe you want to join the Ultimate Rewards family.
    • Most of all, be courteous. Don't seem desperate for credit.

    The reconsideration number is 1-888-270-2127.

  • Work on building your credit: If you still get denied, or you know you're not quite there yet, then just work on building your credit.

    • Work on paying off the balances on your other credit cards. Don't miss or be late with any payments.
    • You can ask for credit limit increases on your other cards, which will 1) help with the credit utilization ratio, and 2) show Chase that you can be trusted with credit.
    • Refrain from opening new credit accounts, unless it's for something other than a credit card (like a mortgage or car loan).

Remember, you don't only have one chance. You can apply again after your credit has improved.

Bottom Line

The Chase Freedom Unlimited is not the hardest card to get, as long as you have proven that you can manage credit. But just having an excellent credit score does not mean guaranteed success. There are many factors that go into the final decision. If you want this card, prioritize it, as opening too many other cards will go against you. Good luck.

Chase Freedom Unlimited
Apply for Chase Freedom Unlimited
At Chase's Secure Site
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
0% for 15 months
0% for 15 months
15.99% - 24.74% Variable
$0

Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Chase. This site may be compensated through the Advertiser's affiliate programs.

Disclaimer: This content was first published on August 22, 2017. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check Chase website for updated information.

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Chase Freedom Unlimited
Apply for Chase Freedom Unlimited
At Chase's Secure Site
  • Unlimited 1.5% cash back on every purchase — it's automatic
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99-24.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • No annual fee
  • Go to issuer's official application, terms, and details
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
0% for 15 months
0% for 15 months
15.99% - 24.74% Variable
$0

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