What Credit Score Is Needed For Chase Credit Cards?

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Like most major card issuers, Chase doesn’t specify a credit score that will guarantee approval for its cards. Remember, though, issuers consider more than your credit score when assessing your application. In fact, you could have excellent credit and still run into other roadblocks that might prevent you from getting approved for a Chase card.

However, as with most rewards cards, a credit score in the good to excellent range sets you up for the best chances of approval. But don’t worry if you aren’t quite there. There is a Chase card option for credit scores that are “up and coming” that could help you along the way.

How to improve your approval odds for a Chase card

Generally, Chase requires good to excellent credit to get approved for its most popular rewards cards, like the Chase Freedom Unlimited® or Chase Sapphire Preferred® Card. Even Chase’s non-rewards balance transfer card, the Chase Slate Edge℠*, requires at least good credit to qualify.

If you’re planning to apply for a Chase card, but you’re not sure what your credit score is, now is the perfect time to check. You may also want to use Chase’s pre-approval tool to see if you qualify for the card you want without an impact on your score.

If your score could use some work, you may want to make some improvements before submitting your application and taking on a hard inquiry. A credit score in the fair range of 580 to 669 could be a symptom of late or missed payments, high credit utilization, an account in collections or even something that isn’t your fault, such as credit reporting errors.

Improving your score in pursuit of a Chase card (or any credit card) means you’ll have to rectify those issues:

• Get caught up on your bills
• Pay down high balances
• Dispute any errors on your credit report
• Pay off any accounts in collections

After you fix those issues with your credit, wait to see those changes reflected in your credit score before you apply for the Chase card you’ve had your eye on. Once that’s under control, it’s time to think about other factors that impact credit card application approvals.

What factors besides credit score does Chase consider for credit approval?

Your credit score is only one piece of the equation that issuers use to determine your approval for a credit card. When you’re applying for a Chase card, these aspects of your finances, even though several are part of your credit score, could be considered individually alongside your credit score:

• The 5/24 rule: Chase’s 5/24 rule factors highly into determining credit card approval. If you’ve opened five or more new credit card accounts with any issuer in the last 24 months, your application will likely be denied.
• Length and type of existing accounts: What type of accounts do you have, and how long have you had them? Do you have any checking or savings accounts or other credit cards with Chase already? The longer your credit history is, the better.
• Credit utilization: How much of your available credit have you used? If you have a $10,000 credit limit and have charged $8,000 in the past month, for example, your credit utilization ratio is 80 percent — which is very high and can negatively affect your credit score and new applications.
• Income and debt: Issuers determine your ability to repay what you’ve borrowed through your debt-to-income ratio. If your debt is too high compared to how much money you bring in, you could get turned down for a credit card even if you have an excellent credit score.
• Monthly housing payment: Chase and other lenders ask about your monthly housing expenses as part of their decision to extend credit. If your rent or mortgage takes up too much of your income, issuers might not approve your application.
• Derogatory marks: Delinquencies, bankruptcies, late payments and other negative behaviors listed on your credit report impact your eligibility.

Chase is known to be a premium issuer, but that doesn’t mean there aren’t options for people outside the good to excellent credit range. Another underrated factor in the credit decision process is which card you apply for. Each Chase card has its own approval standards, so getting approved for the Chase Freedom Unlimited doesn’t mean you’ll automatically get approved for the Chase Sapphire Reserve®.

What if I get denied for a Chase credit card?

If your application for a Chase credit card is denied, you’ll get a notice via email or traditional mail. This letter will disclose your credit score at the time of your application as well as the reason(s) you were denied. After you receive the letter, you can appeal your denial and ask Chase to reconsider your application. Send a letter to the address on the denial notice or call the number on your denial letter to start the process.

You can also apply for a different Chase credit card, but keep in mind that many Chase cards have similar credit requirements. It might be a better use of your time to address the reason for the denial instead.

You could also apply for a credit card with a different issuer. Capital One offers several credit cards specifically for people with fair and bad credit, for example. Use another issuer’s pre-qualification tool or Bankrate’s CardMatch™ tool to find out which cards you might be approved for without a hard credit check.

The bottom line

You’ll be hard-pressed to find an issuer that discloses the exact credit score you need to qualify for their cards, but as a general rule, a FICO credit score of at least 670 is required for most popular Chase cards. However, a score of 740 or higher gives you a stronger chance at approval.

If your credit score is lower than recommended, you still have the option to improve your score, appeal the denial or choose a card that better suits your credit.

*The information about the Chase Slate Edge℠ has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the issuer.