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Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Chase offers some of the most popular credit cards on the market and because the issuer’s card benefits are generally top-notch, qualifying for the best Chase cards will typically require good to excellent credit. We recommend double-checking your credit score and reviewing your credit history before applying. Comparing Chase’s offerings against other banks is also a smart idea. How To Check Your Credit ScoreChecking your credit score can be accomplished in several ways—most of which are free. Though your credit score is not on your credit reports and shouldn’t be conflated, free reporting and monitoring websites provide credit scores and monitoring for most anyone who signs up. Credit reporting agencies also typically allow consumers to sign up to receive scores. Usually, no fees are charged to sign up and receive score updates, but some offer additional services for a price. Major credit card lenders offer credit monitoring and regularly updated credit scores as well. Some institutions may even go so far as to provide a short history of your score and factors affecting your current score, such as the recent number of late payments or hard pulls on your credit history. A credit counselor can also help cardholders monitor credit scores and provide financial advice like setting up a budget or lowering credit card debt. How Is a Credit Score Calculated?A credit score provides lenders a general overview of a person’s credit history. It shows how risky it may be to loan money to a loan, mortgage or credit card applicant. We generally recommend consumers pay regular attention to credit scores and make sure it remains at an acceptable level. The information found on your credit report affects your credit score. Understanding which factors carry the most weight is vital to maintaining a good score. Here’s a breakdown of categories impacting credit scores and roughly how much each factor contributes to the overall scoring:
Payment history and amounts owed are the two most important factors cardholders should monitor most frequently. Payment history shows whether cardholders pay bills on time or late. Every cardholder should make it a priority to make on-time payments each month. One late payment from ten years ago may not have a huge impact on your credit score anymore, but a recent late payment—or multiple late payments in a short time—can drastically reduce a credit score and repeated late payments may be a turn-off to lenders (especially if a payment has ever been overdue past 30 days). Making the minimum payment every month is acceptable, but this comes with several other major financial disadvantages. Ideally, cardholders should pay off every balance in full every month. Balances owed make up the second largest factor affecting a credit score and are measured using a credit utilization rate. We recommend cardholders use less than 30% of available credit across accounts. Paying off a card balance every month (or most of it) will ensure a low credit utilization rate. The fewer debts cardholders owe, the better credit scores will be. Credit Scores Needed For Chase CardsChase’s credit cards are typically sought after for lucrative rewards and welcome bonuses. Card lenders like Chase use credit scores to form a general picture of a card applicant’s credit history and financial responsibility. We suggest aiming for a good to excellent credit score before applying for Chase’s best, highest-yield rewards cards. The Chase Freedom® Student credit card is designed for students, who generally have little to no credit history, making it a solid option for students looking to build good credit. Here’s a list of Chase cards and suggested credit scores: Credit scores are divided into ranges including Good, Poor, Fair and Excellent. There are two primary credit score calculation models, called VantageScore and FICO, and each has its own set of ranges. Chase doesn’t specify which model it references when reviewing a credit card application, but there is an ideal range card applicants can strive for when applying for a Chase card. Featured Partner OffersWhat is a good credit score for Chase?Applicants with a good or better credit score are more likely to qualify for some of Chase’s best cards. No credit score is a guarantee of approval. VantageScore:
FICO:
Anyone applying to a sought-after Chase card like Chase Freedom Unlimited will likely have a better chance of approval with a score of at least 670, but higher is always better. A score of 670 or above doesn’t guarantee approval in the same way having a score lower than 670 doesn’t guarantee a rejection. What is an excellent credit score for Chase?Applicants with an excellent credit score have a better chance of approval for a Chase credit card than those applicants without an excellent score. Let’s look at the breakdown between Excellent and Exceptional credit scores for VantageScore and FICO: VantageScore:
FICO:
Scores over 800 do not equate to a guaranteed approval for a card like the Chase Sapphire Reserve. Other Chase RequirementsWhen applying for a Chase credit card, be prepared with personal and financial information to help fill out an application. Have your name, address and Social Security number ready. Financial questions may require your primary source of income, gross annual income, type of residence and total monthly bill payments. Make sure you haven’t received approval for five or more credit cards from any lender within the last 24 months. Take a look at your credit score to see if it’s in an acceptable range. Research other card offers before applying for a Chase card. Every submitted application will result in a hard credit check, which can reduce your credit score by a few points. Ensure you’re applying for your top-choice card when you start applying to reduce the number of hard inquiries you make. Chase Pre Approval: How To Increase Your ChancesChase offers a Card Finder tool to help consumers figure out which card is a best fit. The bank does not currently offer a pre-approval tool, but it has in the past. Credit card pre-approval can be a great way to review your chances of getting approved for a credit card without a hard credit inquiry. Some card lenders offer pre-approval or pre-qualification applications to tell potential applicants which credit cards they’re most likely to qualify for. Keep in mind that pre-approvals are not final–a potential cardholder will still have to submit a complete application to receive a final decision. Chase 5/24 RuleThe Chase 5/24 rule suggests if applicants have been approved for five or more credit cards from any lender in the last 24 months, they’ll automatically be declined for any new Chase card. The 5/24 rule prevents “churning and burning” credit cards by applying for multiple credit cards in short periods of time to earn the welcome bonus and rewards, then immediately canceling the cards before the annual fees are due. Churning presents a problem for large credit lenders like Chase that profit from annual charges and other fees with card usage, like late fees, interest on purchases, cash advances and balance transfers but spend money by incentivizing new accounts with welcome bonuses. Most credit cards issued by Chase are governed by the 5/24 rule. Finding out if you’re affected by the rule is easy: view your credit report and count the number of new accounts opened in the last 24 months—if it’s fewer than five, you won’t be automatically denied a new Chase card. New credit accounts include accounts on which you are either primary cardholder or an authorized user, plus any business or retail credit cards listed on your personal credit report. What If I Get Rejected For a Chase Credit Card?Getting rejected for a Chase credit card can be discouraging but it isn’t the end of the line. The Equal Credit Opportunity Act requires lenders to send statements detailing reasons a card application was denied. Reasons may include high credit card balances or too many late payments. Look into the reasons provided and improve the indicated part of your credit history. Try applying for a Chase card again three to six months later. If you feel Chase’s decision was unwarranted, you can try contacting Chase’s reconsideration line to speak to a representative. Come prepared with a specific argument why your application should have been accepted. Review your credit report if there is something unusual Chase picked up, like potential fraud or an incorrect credit listing. Be polite and willing to negotiate. How To Improve Your Credit ScoreImproving your credit score is a great way to improve the odds of approval for a Chase credit card. Several routes toward better credit are available:
The Best Chase Credit Cards Of 2022Find the best Chase credit card for your needs. Bottom LineChase Bank offers a solid selection of credit cards for the average consumer. Because the cards have high reward potential, consumers have a better chance of approval for a card with a Good to Excellent credit score. If you don’t have aspirational credit, try improving your score first before applying. Make sure you haven’t been approved for more than five cards from any lender 24 months before applying for a Chase card. Frequently Asked Questions (FAQs)Which credit bureau does Chase pull?Self-reported consumer data indicates Chase primarily draws reports from Experian. The bank also appears to lean on Equifax and more rarely upon TransUnion for reports, as well, though which credit agency the bank reports to may vary significantly by state. How long does it take to get approved for a Chase card?Online applications may be approved or denied immediately, while mail-in applications could take some time. Card issuers are required to respond to all applications within 30 days. What is the easiest Chase card to get approved for?Which Chase card you’ll be most likely approved for depends on your financial situation. Someone with plenty of income and stellar credit may find top cards are easy to receive approval for, but someone without much credit history may find it more difficult. Does Chase make a hard pull for existing customers?Chase will likely conduct a hard credit inquiry for any new credit card with a formal application. Why did I get declined for a Chase card?Check the rejection letter issued by Chase to see why you were rejected for a Chase card. Card lenders are required to inform applicants of the reasons for a decision. What is the credit limit on Chase cards?Credit limits depend on your credit history and financial information. Can you get a Chase Freedom card with a 650 credit score?For the most part, you'll need decent credit (a score of 680+) to be approved for most Chase cards, with the more premium cards requiring good to excellent credit (a score of 725+).
Can I get a Chase credit card with 640 score?Most Chase credit cards are intended for consumers with good to excellent credit scores (FICO® Score of 670 or higher). A score above 700 is even better and gives you a strong chance at approval.
What credit score do you need to open Chase Freedom?You'll want to have a FICO credit score of at least 670 before applying, but a higher credit score doesn't guarantee approval while a lower credit score doesn't guarantee a decline. If you've opened 5 or more new credit cards in the past 24 months, Chase will automatically decline you for new credit card applications.
Can I get a Chase credit card with a 550 credit score?Most Chase cards require a score of at least 600, which is about the dividing line between fair and poor credit.
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What credit score do you need for chase freedom unlimited
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