Chase Freedom Flex Credit Score Requirement – Forbes Advisor

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The Chase Freedom Flex℠ is a great option for earning cash back with no annual fee. It offers an introductory APR of 0% for 15 months from account opening on purchases and balance transfers, then a variable APR of 17.24% to 25.99% applies. Introductory balance transfer fee of $5 or 3% of the amount of each transfer, whichever is greater during the first 60 days, after which $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 restaurants and pharmacies and 1% on all other purchases. You will likely need a good to excellent credit score of at least 670 or higher to be considered for the Freedom Flex card.

Credit score required 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, which means applicants will likely need at least minus a good credit score to qualify. An excellent score certainly wouldn’t hurt, but no specific credit score guarantees 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 above 700 will probably serve you better. Chase doesn’t offer a pre-approval tool on its website, which makes it even harder to find out if you’ll qualify before you apply.

If you hope to receive approval for the Freedom Flex, we recommend that you monitor your credit score until it is at or near 700 and then submit a formal application to Chase. We recommend that you avoid submitting 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 just a few months, depending on your situation. A good credit score starts at around 670, while a great score usually starts at 740.

Credit is generally reported by three major credit bureaus: Equifax, Experian and Transunion. Your credit score may vary from bureau to bureau, as each bureau uses its own scoring model, but the ranges are similar. Credit scores and reports can 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 most important factors in credit scoring models. Perhaps the fastest way to improve your credit score is to always make payments on time 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 also an important factor.

Chase often offers current customers lucrative deals 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 have a better chance of being approved for a Freedom Flex card.

What to do if your application is refused

Even if your credit score is over 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 how many accounts you’ve recently opened in the last 12-24 months, your annual income, and monthly payments like rent or other bills. Your creditworthiness and ability to pay are central to your ability to be approved for almost 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(s) Chase denied your Freedom Flex request.

If there is an obvious problem with the denial, you can contact the Chase Reconsideration Line to argue your case. You may be able to override your opt-out if, for example, your annual income was incorrectly processed or reported.

Conclusion

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