Monday, June 5, 2023

Credit Score Needed For Chase Freedom Unlimited

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Chase Freedom Unlimited Review + Approval Walkthrough

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The World Of Hyatt Credit Card: 690+ Credit Score Needed

The World of Hyatt® Credit Card delivers generous rewards for staying at Hyatt properties in return for a $95 annual fee. We have found references to people being accepted with credit scores in the 690 range, which is among the highest for the cards in this group.

  • 9X points at Hyatt hotels, resorts, restaurants, and spas, 2X points on everything else
  • One free night at any category 1-4 Hyatt hotel or resort every year
  • $95 annual fee

The card targets consumers with good to excellent credit scores.

Other Chase Freedom Unlimited Benefits

The Chase Freedom Unlimited comes with several additional features:

The card includes Zero Liability Protection. This means that you wont be held responsible for any unauthorized charges on your card, or the use of your account information. You also get a physical card with Chip-Enabled Security, for additional protection of your account.

One of my favorite features is Purchase Protection. This means that any purchases made with the card are protected for 120 days from damage or theft.

The card comes with Extended Warranty Protection. This protection extends for up to one year the time period of the U.S. manufacturers warranty on eligible warranties of three years or less.

Lastly, the card is designed for contactless payment. In a world of global pandemics, contactless payment enables you to pay for something without touching the card reader.

Read Also: Welcome

How To Get Approved For Chase Freedom Unlimited

The Chase Freedom Unlimited is a great everyday cash back card to have in your wallet.

You get an unlimited 1.5% cash back on purchases, with no rotating categories and no annual fee.

How easy is it to get Chase Freedom Unlimited Card ?

We break down the different factors Chase will usually consider, and what you can you do to maximize your chances.

We’ll explain more below.

But first, let’s highlight the current Chase Freedom Unlimited promotions you should not ignore.

Ink Business Preferred

Chase Freedom Unlimited Cash Back Rewards

Chase Freedom Unlimited: New 5% Back On Groceries + $200 Bonus

5% cash backEarn 5% cash back on travel purchased through Chase Ultimate Rewards3% cash backEarn 3% on drugstore purchases3% cash backEarn 3% cash back on dining at restaurants, including takeout and eligible delivery services1.5% cash backEarn 1.5% cash back on all other purchases

Theres also a first year bonus: Earn an extra 1.5% cash back the first year on all purchases up to $20,000 in spending

While these reward rates look appealing, we need to crunch some numbers before making a decision on this card.

Chase Freedom Unlimited Card Alternatives

If, despite all of your best efforts, you simply cant get approved for a Chase Freedom Unlimited®, you may have to throw in the towel and find another card. On the bright side, the credit card market is full of great cash back cards that offer the same unlimited cash back rate that makes the Chase Freedom Unlimited® so useful.

Even better, most of those cards wont be subject to the finicky requirements of a Chase card meaning theres no silly 5/24 Rule or other harsh restrictions. Or, if you were turned down for the Chase Freedom Unlimited® because your credit scores are just a bit too low, you can find a few cards for consumers with fair credit that will let you build credit and earn rewards at the same time.

Cash Back Alternatives If Youre Over 5/24

Although the average American only has 2.5 cards, most of us who chase credit card rewards will be well past the 5/24 limit at any given time. Since this puts the Chase Freedom Unlimited® out of reach, those of us over the limit will have to turn to other issuers to sate our desire for unlimited cash back.

Luckily, nearly every major credit card issuer offers at least one card that provides the same cash back or higher making it easy to find a solid alternative. Plus, many of these cards offer the same perks as the Chase Freedom Unlimited®, including an introductory APR offer and no annual fee.

Chase Freedom Student Credit Card Review: Build Credit And Earn Cash Back Rewards

The Chase Freedom® Student credit card is a good entry into the world of credit building and earning rewards. For college students, a student credit card can be a route to building credit history and learning how to be a responsible borrower. Student cards don’t come with the luxury perks of a top-tier rewards credit card but offer simpler benefits that make sense for someone with little to no credit.

The Chase Freedom® Student credit card offers features that are ideal for fledgling cardholders. Its simple cash back rewards structure rewards every card purchase. The card also features a lower APR than many student credit cards, making it a safer choice if you accidentally rack up a higher balance than you can pay off at the end of the billing cycle. It also rewards responsible usage with an automatic credit limit increase just by paying your bills on time.

An Everyday Card With Unlimited Potential

Chase Freedom Unlimited Credit Card Review | Yes, get it.

The Chase Freedom Unlimited® is a card found on many lists of top rewards credit cards, and with good reason. When used wisely, the card can offer a lot of value and all without paying an annual fee.

But, the Chase Freedom Unlimited® isnt the easiest card to get. Consumers without at least fair credit are pretty much out of luck, and even excellent credit may not be enough if you have too many recent new accounts.

Chase Freedom Unlimited Approval Tips

Chase has some strict application rules, one of which is the 5/24 rule. You will not be approved for most of their cards, including the Chase Freedom Unlimited, if you have opened five or more credit cards from any bank in the past 24 months.

If you have been added as an authorized user to any credit cards, these will count under 5/24. However, some have reported success calling Chase to get authorized-user accounts disregarded.

You can use free credit monitoring tools to count how many cards youve opened in the past 24 months.

The Chase Freedom Unlimited doesnt come with a truckload of bonus points after meeting minimum spending requirements. But thanks to recent upgrades, it comes with some amazing benefits, including the most solid ongoing spending of any card in existence even better than many cards with $450+ annual fees.

Youll get:

  • 5% cash back on travel you buy through the Chase Travel Portal
  • 3% cash back on dining, including takeout and eligible delivery services
  • 3% cash back at drugstores
  • 1.5% cash back (1.5x Chase points on all other purchases

You wont have to worry about keeping track of rotating quarterly bonus categories with this card, unlike the Chase Freedom.

Chase calls it a cash back card, but it technically earns Chase Ultimate Rewards points, one of our favorite types of flexible points. Thats because they can be worth so much more depending on how you use them. Its very easy to come out ahead of competing 2% cash-back cards.

How High Are American Express Credit Limits

Unlike other issuers, American Express offers several cards with no preset credit limits. However, there still are spending limits, which are calculated based on factors like your spending patterns, payment history, credit record and income. For well-heeled cardholders, this can mean a six-figure spending limit. American Express allows you to check your spending power before making a large purchase online or by calling in.

For rates and fees of The Platinum Card® from American Express, click here.

Editorial Note:

What Credit Score Is Needed For The Chase Freedom Unlimited

Typically, to get approved for the Chase Freedom Unlimited you will want a decent credit score of at least 675 or above, though Id personally prefer to have a credit score at or around 700 before applying. However, your credit score is only one factor in the decision to get approved for a credit card so you will want to analyze additional factors.

If you do enough research you can find data points of people getting approved for the Chase Freedom Unlimited card with credit scores in the 660 range and even 650 range. However, when you start getting in the lower ranges youre going to probably get some very small credit limits. Also your odds are going to be on the lower side so I would suggest to try to get as close to 680 to 700 as possible before applying.

Also, you want to consider all of the additional factors below that I discuss in more detail.

Tip: Use WalletFlo for all your credit card needs. Its free and will help you optimize your rewards and savings!

Other Options If Youre Ineligible

Chase Freedom Unlimited Credit Card 2021 Review

If after reading through the expected eligibility requirements above, you dont believe youll be eligible, you can consider other types of credit cards. Some examples for college students include credit building, secured, or student credit cards.

All three are designed to offer credit to those who need to build or improve their credit history. In recent years, many credit card issuers have even started to offer rewards on these cards.

Here are two such options.

Type of card

How To Earn A Good Credit Score:

If you currently have a credit score below the “good” rating, you may be labeled as a subprime borrower, which can significantly limit your ability to find attractive loans or lines of credit. If you want to get into the “good” range, start by requesting your credit report to see if there are any errors. Going over your report will reveal what’s hurting your score, and guide you on what you need to do to build it.

Good Credit Score Required At Least 645 According To Reviews

While not the end-all-be-all of your application, your credit score is an important factor. Thankfully, it also happens to be one of the factors with the most leeway. The Chase Freedom Flex is mainly for those in the Good to Excellent credit ranges, but there are reports of people being accepted with credit scores as low as 645.

An important note thing to note about your credit score: It can vary depending on the source. Chase may pull from any one or more of the three major credit reporting agencies, Equifax, Experian, or TransUnion. Which credit report they pull will depend mostly on your location, as it seems to vary by state.

What Credit Score Do I Need To Get The Chase Freedom Unlimited

To qualify for the Chase Freedom Unlimited card, youll need good credit or better. That translates into a credit score of at least 670.

Thats much more attainable than some of the other Chase credit cards. For example, the Chase Sapphire Reserve card its fanciest luxury card requires a credit score of at least 740.

Chase Freedom Unlimited Vs Freedom

Chase Freedom Unlimited Review | Is it Worth It?

Every feature of the Chase Freedom Unlimited is identical to the original Chase Freedom card, besides one thing. How points are earned through purchases. We thought about making a comparison chart of the two cards side by side, but this is the one and only difference. The Chase Freedom Unlimited earns 1.5 points per dollar on every purchase. The Chase Freedom earns 5 points per dollar on quarterly rotating categories , and 1 point per dollar on everything else.

Which card is better for you depends on if you want the potential to earn extra points or want simplicity. Below are the features that both Freedom cards offer.

  • Earn 3% on all purchases in the first year
  • $25 for adding Authorized User
  • No annual fee

The Chase Freedom card might wind up working out better for you. Depending on what you want to do, it is possible that the Chase Freedom card may fit your needs slightly better. It has a different signup bonus and offers rotating rewards categories. This will not be a better option for those who want to keep things simple, but it is another good credit card from Chase to look into. For more information on the comparison, check out our Chase Freedom Vs Freedom Unlimited article.

Reports Indicate Minimum Credit Score Of 620 For Approval

Credit scores are important. Your credit scores and the credit profiles they represent can and will impact your ability to get approved for new credit, as well as influencing how much credit youre offered and the interest rates youre charged.

Unfortunately, most credit card issuers dont offer a lot of information about what credit scores they actually want to see and what scores they dont. When it comes to the Chase Freedom Unlimited®, Chase only says that the card is intended for consumers with good to excellent credit which is only mildly helpful.

So, we have to rely on user-reported data points to get an idea of which credit scores will actually get you approved. According to the reviews, most approved applicants had a credit score of 680 or higher but some cardholders report being approved with credit scores in the low- to mid-600s.

$0 Good/Excellent

Of course, your credit score isnt the only part of your credit profile that Chase will evaluate when making an approval decision. The bank will look at your entire credit profile, including your payment history, current accounts, hard credit pulls, and existing balances. So, not only will your credit score matter, but all of the factors that go into your credit score will also play a role.

Best Cards To Pair With Chase Freedom Flex

Thanks to its diverse earning categories, the Freedom Flex also makes for a great card to stack with other products. By pairing the card with another that earns a better flat rate on general purchases or offers more diverse redemption options, you can ensure your rewards are maximized.

For example, you could pair the Freedom Flex with the Chase Sapphire Reserve, in order to take advantage of the Reserve cards 50 percent bonus on Ultimate Rewards when redeemed for travel in the Ultimate Rewards portal. Alternatively, the Reserve lets you transfer to one of Chases many travel partners another way to potentially boost point value. By pooling all your Chase points onto the Reserve, you reap the benefits of more earning categories and a competitive redemption value.

Another great option is to pair the Freedom Flex with a flat-rate cash back card that offers a higher rewards rate on general purchases. The Wells Fargo Active Cash® Card is one of the most valuable flat-rate cards on the market. It not only earns one of the highest flat rates available an unlimited 2 percent cash back on all purchases but is also one of the rare flat-rate cards that offers a 2 percent rate and comes with a sign-up bonus: $200 after spending $1,000 within the first three months of account opening.

Chase Freedom Unlimited Credit Limit

Many Chase Freedom Unlimited users receive a credit limit of $1,000 – $3,000. Find out how Chase determines your credit limit and how to get an increase.

Chase Freedom Unlimited is a great everyday cash back card to have in your wallet.

You get an unlimited 1.5% cash back on all purchases, with no rotating categories and no annual fee. Plus, there’s a long intro APR so you have time to pay off major purchases.

Maybe you’re hoping to buy a new TV with the card. Or even fund a vacation or wedding expenses.

But how much of a credit limit can you expect to get? Will it be enough for what you want to buy?

Let’s take a look at what kind of credit limit Chase Freedom Unlimited offers.

What Can You Do If You Don’t Get Approved

Chase Sapphire Preferred &  Freedom Unlimited: A Powerful Duo

If you get a rejection, it may not be the end. Here are a couple of things you can do.

  • : If you believe you have great credit and meet the criteria, you can talk to a representative. Chase has a line where you can explain your situation. This can help credit card issuers like Chase better understand you and possibly reconsider the decision. Here are some tips:
  • Be polite and ask if there’s any more information you can provide.
  • Be ready to explain any recently opened credit accounts or credit inquires. Maybe you took out a mortgage or just switched to a new cell phone provider.
  • Explain why you want the card. Don’t just talk about the bonus. For example, maybe you want to join the Ultimate Rewards family.
  • Most of all, be courteous. Don’t seem desperate for credit.

The reconsideration number is 1-888-270-2127.

  • Work on building your credit: If you still get denied, or you know you’re not quite there yet, then just work on building your credit.
    • Work on paying off the balances on your other credit cards. Don’t miss or be late with any payments.
    • You can ask for credit limit increases on your other cards, which will 1) help with the credit utilization ratio, and 2) show Chase that you can be trusted with credit.
    • Refrain from opening new credit accounts, unless it’s for something other than a credit card .

    Remember, you don’t only have one chance. You can apply again after your credit has improved.

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