Chase Freedom Flex Credit Score Requirement – Forbes Advisor

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The Chase Freedom Flex℠ is a great option for earning cash-back rewards with no annual fee. It offers a 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 17.24% – 25.99% applies. Intro balance transfer fee of either $ 5 or 3% of the amount of each transfer, whichever is greater in the first 60 days, after that either $ 5 or 5% of the amount of each transfer, whichever is greater applies and earns 5% cash back on up to $ 1,500 in categories that rotate quarterly (requires activation), 5% on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores and 1% on all other purchases. You’ll likely need a good to excellent credit score of at least 670 or higher to be considered for the Freedom Flex card.

Credit Score Needed for the Chase Freedom Flex Card

Chase doesn’t specify what credit score is recommended or required for Chase cards, but the Freedom Flex card is one of Chase’s best options for earning cash-back rewards, which means applicants will likely need at least a good credit score to qualify. An excellent score certainly wouldn’t hurt, but no specific credit score guarantees an approval — your financial situation and creditworthiness as determined by Chase will determine your chances of approval.

You might need a score of at least 670 or higher. A score over 700 will likely serve you better. Chase doesn’t offer a pre-approval tool on its website, making it even harder to know whether you’ll qualify before applying.

If you’re hoping to receive approval for the Freedom Flex, we recommend monitoring your credit score until it’s at or near 700, then submitting a formal application to Chase. We recommend avoiding submission of more than two applications within a six-month period.

How To Improve Your Credit Score to Get the Chase Freedom Flex

The Chase Freedom Flex card may require good to excellent credit, but it’s possible to improve your credit score in as little as a few months — depending on your situation. A good credit score starts at around 670, while an excellent score typically starts at 740.

Credit is typically reported by three major credit bureaus: Equifax, Experian and Transunion. Your credit score may vary between the bureaus because each bureau uses its own scoring model, but the ranges are similar. Credit scores and reports may let lenders like Chase know how risky it would be to lend money to a consumer.

Several factors go into determining your credit score. Payment history and the amounts you owe are the two factors that matter the most in credit scoring models. Perhaps the quickest way to improve your credit score is to consistently make on-time payments and keep your credit utilization below 30%. The age of your credit also has an effect on credit scores — the age of your oldest account is an important factor, too.

Chase often offers current customers lucrative offers on new credit cards and checking accounts. If you already have a good relationship with Chase by holding a checking or credit account, you may be more likely to be approved for a Freedom Flex card.

What To Do If Your Application Is Denied

Even if your credit score is above 700, you may be denied a Freedom Flex card for other reasons. Credit card issuers like Chase not only look at credit scores, but also the number of accounts you’ve recently opened in the last 12 to 24 months, your annual income and monthly payments like rent or other bills. Your creditworthiness and ability to pay are central to your ability to receive approval for nearly any line of credit.

Card issuers like Chase are required to tell applicants why they were denied a credit account, thanks to the Fair Credit Reporting Act. You may receive a letter detailing the reason or reasons why Chase denied your application for the Freedom Flex.

If there’s an obvious issue with the denial, you can contact Chase’s reconsideration line to make your case. You might be able to turn around your rejection if, for example, your annual income was processed or reported incorrectly.

Bottom Line

The Chase Freedom Flex card offers lucrative cash-back rewards and a welcome bonus of $ 200 bonus after spending $ 500 on purchases in the first 3 months from account opening for new cardholders. Although Chase doesn’t specify what type of credit score is recommended to qualify, applicants will likely need at least a good or excellent credit score.

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