What Credit Score Do I Need for a Chase Credit Card? | The Motley Fool (2024)

FAQs

What Credit Score Do I Need for a Chase Credit Card? | The Motley Fool? ›

You need a credit score of 670 or higher for most Chase credit cards.

A credit score of about 700+ will likely qualify you for just about any credit card, including those with cash back rewards, lower annual percentage rates (APRs) and more.

Chase offers a free credit report tool called Chase Credit Journey®, which uses Experian data and the credit score generated is a VantageScore 3.0.

The easiest Chase credit card to get is the Chase Freedom Rise℠, as applicants can get approved for this card with limited credit. This means the odds of approval are good even for people who are new to credit, making the Chase Freedom Rise℠ much easier to get than other Chase credit cards.

Chase Freedom Rise℠ credit score: no minimum credit score but it is designed for consumers who are building credit. You can potentially qualify for it even with no credit history.

The 5/24 rule is an unofficial policy that dictates that Chase won't approve you for its cards if you've opened five or more personal credit card accounts from any issuer in the last 24 months. Put simply, the number of cards you've opened in the previous two years will affect your approval odds with Chase.

Why it's one of the hardest credit cards to get: Chase Sapphire Reserve® is one of the hardest credit cards to get approved for by virtue of the fact that it is one of the best rewards cards on the market. From its initial bonus of See Terms to the ...

Keep in mind that you can get updates on your credit score at no cost or impact to your score. A free credit score provided through Chase Credit Journey is accurate and updates regularly.

You can get a real FICO^® Score^☉ from many sources, including credit bureaus, lenders, credit card issuers and other financial institutions. There are many versions of the FICO^® Score, and they may have different uses, but they're all real.

Are credit card applications considered hard or soft inquiries? A credit card application (as well as other applications, such as for auto loans and mortgages) requires a hard inquiry. Soft inquiries, however, can be used as part of a pre-approval process.

Does Chase give instant approval? ›

The approval criteria varies

Your application could be approved for one card in minutes, but you might wait much longer for a decision on another credit card application.

On our list, the card with the highest reported limit is the Chase Sapphire Preferred® Card, which some say offers a $100,000 limit. We've also seen an advertised maximum credit limit of $100,000 on the First Tech Odyssey Rewards™ World Elite Mastercard®, a credit union rewards card.

Good first credit card for people who are new to credit

Chase offers one called the Freedom Rise℠ credit card. If approved for this card, you could earn 1.5% cash back on every purchase.

While there isn't an officially published minimum credit score requirement, to qualify for Chase Sapphire Reserve®, you'll typically need a top-notch credit score. To give yourself the best chance of being approved, aim for a FICO Score of 740 or higher.

The Chase Freedom Flex℠ has a minimum credit limit of $500, but it's possible to get a much larger amount, including over $20,000. Chase determines your credit limit based on many factors, with your income and credit history being most important. Is the Chase Freedom Flex℠ a Visa or Mastercard?

But the people who would perhaps stand the most to gain from those features — those working to build their credit — might not qualify for card. Potential applicants will need good to excellent credit (a FICO score of 690 to 850) to qualify.

Chase credit card approval odds are best for people with a credit score of 700+. That means you'll need at least good credit to be approved. Chase credit card approval odds will also be influenced by the applicants' annual income and existing debts.

Yes, many cards are available to people with a 600 credit score. While you probably won't get approved for a top-tier card, you can almost certainly get a modest, unsecured credit card.

The Capital One Quicksilver Secured Cash Rewards card provides the best of both worlds for someone with a 650 credit score. Cardholders earn 1.5% cash back on all purchases. Plus—because it reports to all three major credit bureaus—you'll have the opportunity to improve your credit score with good payment history.

Good first credit card for people who are new to credit

You could think of them as a credit card for beginners. Chase offers one called the Freedom Rise℠ credit card. If approved for this card, you could earn 1.5% cash back on every purchase.