Why Did I Get Denied For Chase Freedom Unlimited? (2024)

FAQs

Is it hard to get approved for Chase Freedom Unlimited? ›

The Chase Freedom Unlimited® and Chase Freedom Flex℠ are more difficult to get, as they generally require a good credit score of 670 or higher.

The Chase Freedom Unlimited® card is hard to get because you are required to have good to excellent credit (a score of at least 700) to have high odds of being approved. You will also need enough yearly income to afford minimum monthly payments.

While there isn't a specific income requirement for a card, evaluating your access to income allows a bank to determine your credit health and whether or not they want to lend you money based on their confidence in your ability to make your payments.

Chase most likely denied your credit card application because you have a low credit score. It's the most common reason for denial with this bank, although several other causes may exist. You are required to have a minimum good score of 670 to become a Chase credit card holder.

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. Just as a score of 670 or above doesn't guarantee approval, having a score lower than 670 doesn't guarantee a rejection.

Here's why: The Chase Freedom Unlimited® offers a $500 minimum credit limit, but the limit is at least $5,000 if you're approved for the Visa Signature® version of the card. Beyond those minimum limits, this card offers plenty of opportunities to earn cash back.

Being denied for a credit card doesn't hurt your credit score. But the hard inquiry from submitting an application can cause your score to decrease.

Understanding the Chase 2/30 rule:

Chase business cards don't count towards 5/24. But they do count towards this rule: Apply for a third Chase card of any kind within 30 days, and you'll be declined. Don't worry, as long as you keep your cards up to date, we'll keep track and warn you if the rule is tripped.

Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.

The Chase Freedom Unlimited® card gives high credit limits to people with good-to-excellent credit, a lot of income, and relatively little debt. The minimum credit limit is $500, and some cardholders report having limits as high as $14,000.

Do credit card companies actually check your income? ›

Will a credit card company verify your income? Although a credit card company could ask you to provide income verification, this doesn't happen often. In most cases, the credit card company will take your word for it and use your reported income.

Here's why: Credit card issuers use your income to determine your card's credit limit. If you got a raise and your income is now higher than it was when you applied for the credit card, then you may qualify for a credit limit increase.

You picked a card that has application restrictions

Some issuer examples include: Chase: If you apply for a Chase credit card, you may be subject to the Chase 5/24 rule — if you've opened five new credit cards in the past 24 months with any issuer, you won't likely see approval for a new Chase card.

To contact the Chase reconsideration line, call 1 (888) 270-2127. Calling the U.S. Bank reconsideration line is a way for credit card applicants to request a second review of their application and potentially get their denial overturned.

If you have the 7-10 day message, this likely means you were rejected. You can either wait for a letter or immediately call the reconsideration line to see if they will approve you.

The best Chase starter credit card is the Chase Freedom Rise℠ because it accepts applicants with limited credit history and reports to the three major credit bureaus on a monthly basis. The Chase Freedom Rise℠ also rewards cardholders with 1.5% cash back on all purchases, and it has a $0 annual fee.

What may make the Chase Freedom Unlimited^® credit card good for beginners? Low annual fee: Enjoy a low annual fee for enjoying the perks, benefits and features of the card — this can be especially useful for students with low incomes or recent graduates.

Generally within 14 days of submitting your credit card application, you should receive a decision or a follow-up on your application. It can also take as little as an hour. There are a few major factors that affect the timing.