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  1. #1
    stacks
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    Default What are the income requirements for Chase Freedom?

    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. Should I even bother calling the # on the letter to see if there was some sort of mistake?
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    Reply With Quote Reply With Quote     Aug 25, 11, 3:45 pm
  2. #2
    Money card
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    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.
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    Reply With Quote Reply With Quote     Sep 12, 11, 6:23 pm
  3. #3
    DavidNY
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    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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    Reply With Quote Reply With Quote     Sep 13, 11, 5:59 pm
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    Pete838
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    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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    Reply With Quote Reply With Quote     Sep 14, 11, 4:12 pm
  5. #5
    Mogul of Pineapples
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    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. 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
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    Reply With Quote Reply With Quote     Oct 6, 11, 12:09 am
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