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Minimum Income Requirements for Chase?? *UPDATED: APPROVED*

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Regular Contributor

Minimum Income Requirements for Chase?? *UPDATED: APPROVED*

Does anyone know if there are minimum income requirements for Chase (specifically for their Freedom & Sapphire cards)? I tried applying for their Sapphire (regular one) and was denied due to low income (reported $25K).

 

Update: was approved for $5K!


Last app 5/7/2014

No apps until 3/31/2016!
Message 1 of 51
50 REPLIES 50
Valued Contributor

Re: Minimum Income Requirements for Chase??

There have been reports of people getting approved with incomes as low as 40k, but I haven't seen anything in the 30s or below. Maybe others can chime in here?
EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 2 of 51
Frequent Contributor

Re: Minimum Income Requirements for Chase??

you probably wont want it anyway as I make about 55k and they only gave me a $500 limit!


CSP-$8700, Amex BCE-17.2k, Chase Freedom-$5700
Discover It-$6600, USAA MC-$5900 Ink Bold- $12k United Explorer-$5k
Message 3 of 51
Senior Contributor

Re: Minimum Income Requirements for Chase??

IVE BEEN TOLD THAT INCOME DOESNT MATTER WHEN APPLYING. IS THAT TRUE

Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
Chapter 7 BK Dischagred on 07/11/16. Gardening Since 01/17/2019
Message 4 of 51
Regular Contributor

Re: Minimum Income Requirements for Chase??

That's what I thought too (at least for Sapphire - regular) but that was the only reason why they denied me?

 

Haven't tried applying for the Freedom (but planning/want to in a couple months) which is why I'm also asking about that...


Last app 5/7/2014

No apps until 3/31/2016!
Message 5 of 51
Regular Contributor

Re: Minimum Income Requirements for Chase??


@BearsAndTurtlesRtheBest wrote:

IVE BEEN TOLD THAT INCOME DOESNT MATTER WHEN APPLYING. IS THAT TRUE


That would seem highly illogical, wouldn't it?  Isn't it reasonable to only offer credit when there is an ability to repay? 

 

I think some credit card companies might not care too much because they grant toy limits or their business model allows them to grant credit to people statistically likely to overextend themselves financially.  Many other lenders, though, probably would care.

Message 6 of 51
Valued Contributor

Re: Minimum Income Requirements for Chase??

on my app for freedom i put 25k in july.

i only got approved for 500

since then i have gotten an auto cli to 1k. 

 

what they told me was that they only approved me for 500 because at the time i had no cc lines reporting(only store cards reporting) (wich were 2k and 2.5k)

from what ive been told chase does not consider store cards in their criteria. 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Message 7 of 51
Contributor

Re: Minimum Income Requirements for Chase??

GF got approved for CSP with 35K.

 

But she also had around 100k in the bank (Chase Savings and other i-banks).  Not sure if that played into it.

Chase Sapphire Preferred - 5.6k (3/13) | Amex Premier Rewards Gold - NPSL (1/13) | Chase United MileagePlus Explorer Visa Signature - 9k (1/13) | Amex Delta Gold - 6k (9/12) | Citi Forward Visa - 10k (10/12) | Discover It - 2k (2/12) | Chase +1 Visa - $300 (2/11)
Message 8 of 51
Regular Contributor

Re: Minimum Income Requirements for Chase??


@nickn86 wrote:

GF got approved for CSP with 35K.

 

But she also had around 100k in the bank (Chase Savings and other i-banks).  Not sure if that played into it.


I know that they do like it when you have a total relationship with them.  Now what I don't know is if that relationship outweighs someone having a derogatory or other credit issues. 

Message 9 of 51
Frequent Contributor

Re: Minimum Income Requirements for Chase??

Just another data point- I was a full time grad student when I apped for freedom. 12.5k income from part time internship. Instant approval for 2.1k. 

 

Scores and credit profile were fairly similar to what's in my sig now.

EQ 778 | TU 776
Barclay US Airways WMC 7.5k | BCE 5.8k | BofA Travel Rewards 9.1k | Chase Marriott Premier 13k | Citi TYP WMC 6.5k | Freedom Visa Sig 8k| Discover it 10k
Message 10 of 51
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