Credit Card Center Advertiser Disclosure

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

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

Really??? How does Freedom fit the bill? It's designed with young cardholders in mind.

First:

CSP Sign Up Bonus 50k UR (significantly better than Freedom).

Then: 2x points on all dining and travel expenses.

If not CSP then a Co-Branded card such as Southwest, or even the Freedom Unlimited.

Also the Discover It is the same as the Chase Freedom in terms of the 5% categories except your first year it's effectively 10% with the categories and 2% everywhere else.

It just makes no sense for someone with your profile to pick the Chase Freedom because of how it's designed, which is to give low limits and high apr which are typically for younger cardholders.
Frequent Contributor
Posts: 491
Registered: ‎04-26-2017

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

It fits the bill because it has a 5% category, simple as that, and all Freedom will ever get from me is the 5% category besides the initial push to for the spending bonus.  I have Discover IT as well and although it's effectively 10% and happens to have the same restaurant category as Freedom (seldom happens), many of the local mom and pop establishments I frequent still don't accept Discover, I have actually charge 3X more on Freedom than IT since the category started a month ago (not by choice).  I'm waiting for Amex to offer me upgrade bonus to BCP which will boost my groceries to 6% and department stores to 3%, I have a Citi that gives me 4% gas and 3% rest, my 2% PenFed covers everything else, Freedom definitely fits in nicely.  

 

I don't travel much other than occational West Coast trips to visit relatives, but now that I know more about credit cards, I definitely plan to grab one of the huge bonus travel cards before the next trip.

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

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

So now that you think about it and your experience with Chase Freedom would you say (when comparing it to other cards) that's it's more designed for people with great credit or more geared towards those with lower credit scores/profiles (people who wouldn't qualify for say CSP)? Smiley Happy
Frequent Contributor
Posts: 491
Registered: ‎04-26-2017

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

[ Edited ]
No not really, because they gave me even harder time for Ink Cash which by no means a low end card.  I think if anything, my experience demonstrates and reaffirms the popular belief that Chase really dislikes thin revolving profiles.
Valued Contributor
Posts: 2,013
Registered: ‎08-02-2016
0 Kudos

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

Haha I would have to disagree, speaking solely in regards to the Freedom/Freedom Unlimited I'm sure I could provide statistics showing the average cardholder's age and score for these cards which would show it's usually 18-24 year olds applying and being approved.

As far as business cards they give Everyone a hard time getting their first business card with them, it's not just you.

Also I would classify Ink Cash as "low end" because there's really only 2 Chase Branded business cards they have that you can apply for, Ink Cash and Ink Preffered. I have both Smiley Happy

Frequent Contributor
Posts: 491
Registered: ‎04-26-2017

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

I'm a practical man, prestige means very little to me.  Other than the sign up bonus, Ink Cash offers much better rewards for my business than Ink Preferred, it's a much better card in my eyes.  
Senior Contributor
Posts: 7,078
Registered: ‎04-11-2016

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

I'm nearing 40 years old and the Freedom card would make more sense to me than the CSP.  I applied for the CSP a few months back simply because of the 50k sign on bonus, which I already hit and I have full intentions of a PC to the Freedom around Month 11 just before the first AF hits.  For someone that doesn't need a travel card, there's no reason anyone would pick the CSP over the Freedom aside from the sign on bonus.  I'm a perfect example of that.  I don't think the Freedom is any more geared to younger people.  It's just NOT geared toward those that travel.  Rotating categories such as gas, groceries, home improvement stores, etc. don't cater any more to 18-24 year olds than they do to 30-50 year olds. 

 

Getting back to the original question at hand, an AAoA of 2 months IMO is very questionable for a Chase app.  Even if you want to make the argument that the card you're apping for is more for people with limited credit history (which I don't agree with) you also have another adverse factor coming into play, which is a maxed out credit card.  I personally would recommend staying away from such an app until AAoA of at least 6 months was achieved.

Established Contributor
Posts: 932
Registered: ‎05-14-2017

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

Freedom is not like a Cap1 card.

Def not geared as a starter.

Not sure where that info comes from.

Chase in general, is a stickler with their cards/limits/APR.
Valued Contributor
Posts: 2,013
Registered: ‎08-02-2016
0 Kudos

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

Total80s - It comes from 2 Chase Bankers at 2 different branches who both said that a majority of their applicants/approvals are college students with almost no credit history. Which I would count as a credible source.

No one is saying Chase is like CapOne, CapOne lends to ANYONE even with bankruptcy even with 10 collections.

I would say Chase is much closer to Discover than to CapOne.

To answer BBS - The original question is for the FU, not Freedom. Those categories may fit many profiles I'm not arguing with that, however the lending criteria for the Freedom and FU are a lot lower than what is required for higher tiered cards with Chase. IMO FU is geared as a starter card for Chase and eventually move from that to CSP/CSR.

It's funny her AAOA was 6 months until she went to the mall and was drawn into applying for those 2 store cards. Smiley Happy
Senior Contributor
Posts: 7,078
Registered: ‎04-11-2016

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

Someone with a FU or Freedom would have zero reason to move to a CSP or CSR unless they travel.  People like me who literally never travel would see zero value in switching to the supposedly "better" card, as it would actually result in less rewards earned.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.