Credit score required for Chase Freedom?

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ib03
 
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Credit score required for Chase Freedom?

Postby ib03 » Sat Aug 10, 2013 10:49 am

For the Chase Freedom what is the minimum credit score required to get approved?

My second question is I see there is both a Visa and a Mastercard version. When it comes to credit reports and what is best is there any advantage of choosing a Visa over a Mastercard or vice-versa at all?

Thank you!


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tntexan72
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Postby tntexan72 » Sat Aug 10, 2013 1:12 pm

I've read that a minimum of Fico 706 will get your foot in the door if you have a short AAoA. I've seen ppl in the high 690s get approved, but they have HHI, long AAoA and no baddies. FYI these are just my own opinions/guesses based on what I've read, I don't have any inside info or anything

Meltdownblitz
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Postby Meltdownblitz » Sun Aug 11, 2013 8:50 pm

tntexan72 wrote:I've read that a minimum of Fico 706 will get your foot in the door if you have a short AAoA. I've seen ppl in the high 690s get approved, but they have HHI, long AAoA and no baddies.


What does aaoa mean? And is experian score similar to fico?


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tntexan72
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Postby tntexan72 » Mon Aug 12, 2013 12:03 am

AAoA = Average Age of Account. An AAoA of 6+ yrs is considered good-very good in the eyes of lenders.
Experian sells Plus scores for TU, EQ, EX
Equifax, Myfico.com sells Fico score for TU/EQ
Transunion sells Vantage scores for TU, EQ, EX

From my experience, most lenders, utility companies now days tend to pull Fico scores from EQ.
Amex tend to pull all 3 scores but mostly EX
Citi, Chase, Discover likes to pull EQ score
Barclays tend to pull TU scores for new applicants

It's important to research the CC you are planning to apply for. Than go over your CR to determine which CC you are most likely to be approved for base on your score. You don't want to go on an app spree cause hard inquiries (trying to obtain new credit) make up 10% of the Fico scoring system. The hard inquiries will be factor into your Fico scoring system for 1 full yr. So choose wisely.

Sorry if I bla, bla, bla, too much...just thought I add my .02.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Mon Aug 12, 2013 10:48 am

tntexan- that's not bla bla bla, that's VERY useful info!! I like the bla, bla, bla like that so keep it up, alright?

About the Chase Freedom's credit score requirements, there was a guy on here that was 18 or 19 posting a few months ago about how he was able to get approved with almost no credit history. He was surprised he wasn't declined but Chase started him out with a low limit of 500 or 1000 I don't recall which.

If you are newer to credit and don't have any negatives, I would say your chances are fair. If you have a credit history with some negatives than it will be tougher.

There is no benefit to your credit score in choosing Visa over MasterCard or vice versa.

Here is the full review of the Freedom's rewards program and benefits.
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

hotboidrvsf150
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Postby hotboidrvsf150 » Mon Aug 12, 2013 2:02 pm

To answer your question, I received this card and I have a FICO of 704. I believe they have gotten a little more lienient on scoring since I have always been denied from Chase in the past. Right now it looks as if they are just wanting to open up new accounts. I got a weak $600 credit limit. I have a Bank Of America cash rewards card with a $9,000 limit and one from my credit union for $13,000. I am calling for a human analyst review tomorrow to see if this can be increased.

Meltdownblitz
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Postby Meltdownblitz » Tue Aug 13, 2013 3:33 pm

Do you think it's smart to get another card just because I should have a good credit limit with it even if I didn't really use it? Because I have above 700s credit sore but my highest limit right now is 1k only. Another words, would getting a card with a higher credit limit such as that higher my credit score just from having it?


hycheong85
 
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Will I get approved?

Postby hycheong85 » Wed Aug 14, 2013 1:59 pm

Hello all,

I'm re-applying for chase freedom.

- rejected in mid-october
- credit score 720 sa of today
- have one secured card with $300 credit line
- got checking and savings accounts at chase
- annual income 60K

any chance of getting approved for freedom?

Thanks,
B

tezail3
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Just got approved for a Chase Freedom!

Postby tezail3 » Wed Aug 14, 2013 3:34 pm

Hi all. I'm new to the forum and new to building up my credit. Within the past couple days I have done a lot of research on how to get a good credit card after foolishly applying for an AmEx card on my first try.

This forum has been a great help for me :)

I'm 21 years old with a very thin file, but I do have an old collections account from when I was 19 and had an unpaid medical bill. After applying with AmEx they told me I had a 659 Experian FICO score and not enough credit history to be approved for their Blue card.

I filled out a Chase Freedom application last night and got their polite dismissal response saying they would contact me withing 7-10 business days. However I called and spoke to a couple very polite people and discovered my application was approved. It's not a high CL, but I'll take it since it's my first card
[font=Arial][size=80]Amex Blue Cash Everyday: $14k
Chase Sapphire Preferred: $6.5k (Auto CLI from $5000 in a month and a half)
Chase Freedom: $5k (Auto CLI from $500 to $1300 to now)
Chase Amazon: $4.4k (Auto CLI from $1900)
Chase Slate: $1k (Auto CLI from $500)
Citi Thank You Preferred: $6.7k
Barclaycard Rewards World MC: $10k[/size][/font]

irvine801
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Postby irvine801 » Wed Aug 14, 2013 7:32 pm

I got an instant approval at a 651 fico for my freedom card. With a 1k cl but my Apr is crap. (23.24)
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit



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