What are the income requirements for Chase Freedom?

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stacks
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What are the income requirements for Chase Freedom?

Postby stacks » Thu Aug 25, 2011 5:45 pm

Just got my denial letter from Chase saying my gross income isn't high enough for the Freedom. I'm 21 with a 761 Transrisk score (don't know what my FICO score is), 3 years of credit history, and I work full time at 18.67/hr. I all ready have 2 credit cards that I hardly ever even keep a 2% utilization rate on and 1 car note. I've never been late on a payment or have any derogatory marks on my report. Thought I was doing pretty well but I guess not :confused: . Should I even bother calling the # on the letter to see if there was some sort of mistake?


stacks
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Postby stacks » Thu Aug 25, 2011 10:41 pm

could admin please delete this thread? I had assumed that my other didn't post the first time when I saw that it wasn't up right away so I created this one.

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Postby Money card » Mon Sep 12, 2011 8:23 pm

In the late 80's or early 90's on the Chase gold card the annual income required was 25,000. I don't know what there requirements are nowadays. If you have a branch near you, no reason not to stop off. it wouldn't hurt to show them what the letter.

DavidNY
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Postby DavidNY » Tue Sep 13, 2011 7:59 pm

This is not that hard of an account to get.

Since you said you earn about $38k/year (18.67*40*52) and weren't approved, maybe their minimum is higher?

Maybe you could get a joint account with someone as a backup? What are your other cards?

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Pete838
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Postby Pete838 » Wed Sep 14, 2011 6:12 pm

My wife has one with an income of 31k. Not sure what the problem is. Maybe you have a low score on one of the bureaus, or you (or they) input the income wrong or unsuccessfully attempted to verify income.
Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
Ronald Reagan

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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Oct 06, 2011 2:09 am

American Express list a minimum income requirement on their applications but Chase doesn't. I called customer support and they said there isn't any minimum income per se and that income will be factored along with the applicant's other information.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



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