Chase Freedom Unlimited Credit Card: Among the no-annual-fee credit cards in the U.S., the Chase Freedom Unlimited® credit card operates without a doubt to be one of the best. It is famous for its unlimited cash back, reward points that are redeemable for various options and good support from JPMorgan Chase. But, to get the credit card, first, you have to go through a process of approval. Knowing the credit score requirements and eligibility of the applicants is necessary before applying because Chase is the one who implements the strictest underwriting rules in the credit card sector.
What Is the Chase Freedom Unlimited Credit Card?
The Chase Freedom Unlimited is a cash-back credit card that offers flat-rate rewards on most purchases along with bonus categories for everyday spending. It is designed for consumers with established credit histories rather than beginners.
Because it is issued by Chase, approval depends not only on your credit score but also on several internal risk-assessment factors that go beyond what you see on your credit report.
Benefits
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- Earn 5% cashback on travel booked through Chase Travel℠
- Earn 3% cashback on dining (including takeout and on eligible delivery services and at drugstores
- Earn unlimited 1.5% cashback on all other purchases
- Introductory APR: 0% Intro APR on Purchases 15 months
- Regular APR: 18.24% – 27.74% Variable
- No Annual Fee: You won’t have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
Subject to the Chase 5/24 rule, so you won’t get approved for the Chase Freedom Unlimited if you’ve opened five or more credit cards (from any bank, not just Chase) in the last 24 months.
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Minimum Credit Score Required for Chase Freedom Unlimited
Usually, the applicants who want to get the Chase Freedom Unlimited card must possess a credit score that is at least good to excellent.
Recommended Credit Score Range
- Generally required: 670 or above
- High chances of approval: 700+
In case of the applicants with credit scores lower than this range, they are very rarely granted approval unless they have an extraordinary income, very low debt, or a long relationship with Chase.
Chase does not provide an official minimum credit score which is published. The approval decision is based on the assessment of the entire credit profile and not on a single number.
Credit Bureaus Used by Chase
Chase mainly obtains credit reports from:
- Experian
- TransUnion
- Equifax (less often)
The bureau used may depend on the state, but Experian is the one that is reported most often.
Chase Freedom Unlimited Credit Card Requirement: Chase’s 5/24 Rule
Chase’s 5/24 rule is one of the toughest approval requirements that apply to virtually all Chase cards, Freedom Unlimited being one of them.
You will likely be denied if you have opened five or more credit cards (from any issuer) in the last 24 months, even if your credit score is excellent.
This rule applies to:
- Personal credit cards
- Most store cards
- Cards where you are an authorized user (in many cases)
- If you are at or above 5/24, it is strongly recommended to wait before applying.
Additional Factors Chase Considers for Approval
Chase uses a holistic underwriting process. Besides your credit score, the following factors play a major role:
Credit History Length: If the applicants have a credit history of at least 1-2 years, their chances of approval will be much higher. On the contrary, thin credit files will usually be rejected.
Payment History: A flawless record with no late payments, defaults, or collections is of utmost importance. Not even one recent missed payment should be on your record if you want to have good chances.
Credit Utilization Ratio: Chase would rather have people applying that use less than 30% of their available credit. Lower utilization increases chances of getting approval.
Income and Debt-to-Income Ratio: A high and steady income as well as low debts are indicators for Chase that the customer will be able to pay back the loan. High income alone does not suffice for approval if the customer has high debts.
Existing Relationship With Chase: Opening a Chase checking or savings account, or having had a relationship with other Chase cards, can help the credit decision to be favorable avenues.
Can You Get Approved With a Fair Credit Score?
Fairly credit (580–669) background applicants usually have very poor chances of getting approved. Chase has the Freedom Unlimited as a card designated for those who have reliable and responsible credit patterns.
If your score lies within this region, think about:
1. Elevating your credit score first.
2. Applying for a starter or mid-level card from another lender.
3. Establishing a rapport with Chase through banking products.
Chase Freedom Unlimited Common Denial Reasons
Some of the most frequent denial reasons are:
1. Credit score lower than suggested range
2. Breaking the 5/24 rule
3. High credit utilisation
4. Short credit history
5. Too many recent credit inquiries
6. Insufficient income in relation to debt
Chase usually dispatches a denial letter that highlights the main reason which can then be utilized to steer the corrective measures.
How to Improve Approval Odds Before Applying?
If you are still not up to that level, these steps can be of assistance:
- Reduce utilization by paying down balances
- Do not apply for a new credit card just before the application
- Always make the payments on time
- Look out for mistakes on your credit reports
- Start building a relationship with Chase bank
Even just a three to six month wait after improving the main metrics can make a big difference in the result.
Is It Worth Applying For Chase Freedom Unlimited Credit Card ?
If the credit rating of the applicants is good to excellent, then the Chase Freedom Unlimited card stands as one of the best no-annual-fee cards in the market. The various payment options, being part of the Chase Ultimate Rewards program, and the long-term value, make it a reliable selection for daily purchases.
However, because Chase is selective, applying without meeting the core requirements can lead to an unnecessary hard inquiry and rejection.
The Chase Freedom Unlimited credit score requirement typically falls in the 670–700+ range, but approval depends on far more than just your score. Chase’s 5/24 rule, credit history, utilization, and income all play a decisive role.
