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Valued Contributor
Posts: 2,013
Registered: ‎08-02-2016
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Lowest Score Acceptable to get Approved for Chase Freedom Unlimited?

I have a friend wanting to app for it.

Profile:

AAOA: 2 Months
3 open cards right now, one with 90% UT ($450/$500)
She got her first card about 6 months ago, she officially has a FICO score as of this month we just checked.

FICO score is 625.

I know the obvious, she could easily increase her score by 30+ points by just paying down the card with high UT, but in the meantime do you think 625 is sufficient for the FU?

Her current cards are:
Discover ($450/$500) 6 months
Victoria's Secret 1 month
Forever 21 1 month
Frequent Contributor
Posts: 442
Registered: ‎09-21-2013
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Re: Lowest Score Acceptable to get Approved for Chase Freedom Unlimited?

Doubt it. But check on creditcard database to see what people's score range from that have been approved or denied.

Total Credit Line- $38,450
Current Score:EX- 672 || TU-688 || EQ-676 || AAoA-2yrs5mo || uti- 29% || 3 baddies || 11 inq
Established Contributor
Posts: 592
Registered: ‎03-07-2007

Re: Lowest Score Acceptable to get Approved for Chase Freedom Unlimited?

50/50 at 660 imho
fico 08 08/01//2017 tu 629 eq 637
ex 611 overstock 0/2250 disc secured 0/ 300 credit one 0/450 navy c rewards 1000/3500 navy plat mc 0/2000 penfed oloc 0/500 x 2 mjc 0/5000 wally world 0/200 carecredit 0/800 eq 05 bankcard 669 if i knew who pulled it
Valued Contributor
Posts: 2,071
Registered: ‎03-03-2015

Re: Lowest Score Acceptable to get Approved for Chase Freedom Unlimited?


Matt4200 wrote:
I have a friend wanting to app for it.

Profile:

AAOA: 2 Months
3 open cards right now, one with 90% UT ($450/$500)
She got her first card about 6 months ago, she officially has a FICO score as of this month we just checked.

FICO score is 625.

I know the obvious, she could easily increase her score by 30+ points by just paying down the card with high UT, but in the meantime do you think 625 is sufficient for the FU?

Her current cards are:
Discover ($450/$500) 6 months
Victoria's Secret 1 month
Forever 21 1 month

Scores are only one part of it. They're going to see the maxed out Discover card and say no. 



Starting scores: 552 EQ, 570 TU, 558 EX Current scores (9/29/17): 746 EQ 721 TU 719 EX
Valued Contributor
Posts: 2,013
Registered: ‎08-02-2016
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Re: Lowest Score Acceptable to get Approved for Chase Freedom Unlimited?

Since the FU is newer there's only like 4 reports for that card on the database I've checked.

Do you think the lending criteria for Freedom Vs. Freedom Unlimited is different? If so which one would have lower standards.

Also, maxing a $500 limit card isn't hard... Smiley Sad

I'd die if my limits were only $500.
Senior Contributor
Posts: 7,043
Registered: ‎04-11-2016
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Re: Lowest Score Acceptable to get Approved for Chase Freedom Unlimited?

Extremely slim chances of approval.  On top of the maxed out utilization on that one card, AAoA of 2 months is about as good as having no history at all, something Chase doesn't like.

Valued Contributor
Posts: 2,013
Registered: ‎08-02-2016
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Re: Lowest Score Acceptable to get Approved for Chase Freedom Unlimited?

BBS - Even for cards like Freedom??

I thought those were for people just starting out. My fiancée got one at 18 with almost no history $500 SL and 24% Apr. Not the best, but she got in without a recon or anything, which is why I'm asking this.
Frequent Contributor
Posts: 479
Registered: ‎04-26-2017

Re: Lowest Score Acceptable to get Approved for Chase Freedom Unlimited?

Freedom is not easy, at least not in my experience.  I applied in April with 720 EX and decent income, I only had 1 CC reporting at the time, a 2.5 yr old Costco Amex/Citi but I do have a mortgage with 14 yrs of perfect payment record.  I had 1 open collection for $50 (copay) that I didn't even know existed until I signed up to CK to check my score for the first time ever in March, I immediately negotiated a payment for removal with the collection agency but it was still on my report at the time when I applied.  I was instantly approved with the same profile by BCE and QS for 10k each but Freedom only gave me 1k and a ridiculous APR, I was barely approved after security verification.  3 days after I applied, the collection came off my EX and it jumped to 825, I called recon and offered another inquiry for new terms but they wouldn't entertain, I ended up closing that account before activation and reapplied a month and a half later, and even with an 800+ score and a clean record though a little thin, they gave me 7k and a middling APR.  When I pulled the trigger a month later for both Amex Simply Cash and Ink Cash, Amex gave me a 20k instant approval and Chase made me jump through hours and hours of recon spread through 2 weeks before begrudgingly approving me for 5k even though my business record is beefier and cleaner than my personal.

 

Chase by far has been the most difficult to obtain in my short experience with credit,

Valued Contributor
Posts: 2,013
Registered: ‎08-02-2016

Re: Lowest Score Acceptable to get Approved for Chase Freedom Unlimited?

Old man - That's because Chase Freedom is designed for people new to credit. Most apps are from 18-24 year olds typical stating limits $500-2.5k with high apr. That's Chase's bread and butter! Smiley Wink

Someone with your profile they don't see any reason to do anything for you on the Freedom they think why isn't this person applying for CSP or a cobranded card? It doesn't make sense. Honestly with your profile after closing it I don't see any rational reason you would reapply a month later for the Freedom card.

Frequent Contributor
Posts: 479
Registered: ‎04-26-2017

Re: Lowest Score Acceptable to get Approved for Chase Freedom Unlimited?

Now I feel young again! Smiley Happy 

 

My goal, besides beefing up my profile, was to assemble a group of cards to take ove my debit card resonsibilities while maximizing cash back, Freedom fits bill.  

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