How to get preapproved for a Chase credit card
Chase offers some of the top rewards and travel credit cards on the market, but it doesn’t necessarily make qualifying an easy feat. All Chase credit cards require good or excellent credit for approval, and Chase also has a rule that limits new credit cards to consumers it considers have too many already—the Chase 5/24 rule.
Unfortunately, Chase recently removed the tool on its website that allowed cardholders to easily check for preapproved credit card offers. But you still might be targeted for some of these promotions via snail mail. And existing Chase cardholders might receive targeted preapproved offers directly in their account as well.
Which Chase cards can you get preapproved for?
Where the Chase Sapphire Preferred Card and Chase Sapphire Reserve are ideal for consumers who want to earn flexible travel rewards, the Chase Freedom Unlimited is perfect for anyone who wants to earn cash back without an annual fee.
For customers who are interested in making a balance transfer, the new Chase Slate Edge card is the first Chase card that allows balance transfers without visiting a Chase bank in person.
How to get preapproved for a Chase credit card
Getting preapproved for one of the best Chase credit cards is a bit more complicated than it used to be, since there is no longer a designated page on the issuer’s site to check for offers targeted to you. But it is not impossible if you know where to look.
Rest assured, if you do get prequalified for a Chase card, the issuer only performed a soft inquiry on your credit report. Unlike a hard inquiry, which can impact your credit score and requires your full Social Security number, a soft inquiry only requires very basic personal information.
Keep in mind that a prequalified Chase offer is not a guarantee of approval. This step only ensures you’re likely eligible for a Chase credit card based on your income, your credit and other factors.
Check for offers on your Chase account
Since Chase no longer offers a public-facing prequalification tool, the only way you’ll be able to get preapproved is if you are targeted. Existing Chase cardholders can check for targeted offers by following these steps:
- Step 1: Log into your Chase account via desktop or mobile.
- Step 2: Navigate to “Open an account” on your account menu.
- Step 3: Select “Just for you” to view your current targeted offers from Chase.
- Step 4: Browse for any credit card prequalifications.
Keep an eye on your mailbox
In addition to targeting current users via their Chase account, Chase is also known to target potential cardholders via snail mail. Keep an eye out for any mailers promoting popular Chase cards, and be sure to scan for prequalification language.
Check for offers on CardMatch
While not currently displaying prequalified offers from Chase, Bankrate’s CardMatch™ tool is another great way to predict if you qualify for one of the issuer’s cards.
By entering some basic information such as your name, email address and the last four digits of your Social Security number (you can create a free Bankrate account along the way for easier access in the future), you can be matched with qualifying card offers from a variety of issuers—including Chase.
At the moment, you won’t find any prequalified Chase offers in CardMatch. But the tool will still show cards from major issuers that match your credit profile. When an offer is not preapproved, it means the issuer did not do any sort of review to ensure you meet the criteria for the card. But, CardMatch still uses a soft pull to your credit to ensure it is displaying cards that match your qualifications.
The one major benefit of taking this route is that even if you don’t qualify for a Chase card, you might find another offer that is better for you. Plus, when you use CardMatch, there is no impact on your credit score.
Just keep in mind that just because you see an offer in CardMatch doesn’t guarantee you’ll be approved.
How to boost your chances of prequalifying and getting approved for a Chase credit card
There are several steps you can take right away to increase your chances of being prequalified and approved for a Chase card.
Check your credit score
If your FICO score falls in any category other than very good or excellent, which typically means any score below 740, then it’s possible you’ll need to spend time improving your credit before you can qualify for a Chase credit card. To see where you stand for sure, make sure youcheck your credit score.
Pay all of your bills early or on time
Because your payment history is the most important factor that determines your FICO score, paying all your bills early or on time is a smart way to ensure your credit score stays in good shape.
Pay off other debts
The second most important factor that makes up your FICO score is your credit utilization—or the amount you owe in relation to your credit limit. If your debt levels are high, you may be able to boost your credit score by paying off other debt.
While it’s generally recommended to keep your credit utilization below 30 percent, there’s no hard and fast number that will guarantee success (or send your credit score plummeting). Be mindful of your credit utilization as you work on improving your FICO score and focus on keeping it as low as possible.
Count your household income
The Consumer Financial Protection Bureau (CFPB) has introduced rules that let individuals list household income when applying for credit, which can be helpful forspouses who stay home or don’t work but have access to income otherwise. With that in mind, make sure you’re listing your household income on your credit card application if you apply, and not just your personal income.
Wait it out
Finally, remember that you’re unlikely to get approved for a new Chase credit card if you’ve had too many new credit cards in the recent past. If you’ve had more than five new cards in the last 24 months, you may need to wait a year or even longer to reapply for the Chase credit card you want.
Should you get a preapproved card from Chase?
Getting prequalified for a Chase credit card does have its benefits. You get to gauge if you’re likely to be approved for a Chase card without a hard inquiry on your credit report, and you can also use the opportunity to compare the top credit card offers you might be eligible for.
On the downside, it’s important to remember that preapproval doesn’t guarantee you’ll get the card you want in the end. You’ll have to fill out a full application to see if you’re approved or not, which could mean you’ll face a hard inquiry on your credit report without anything to show for it.
Should you get preapproved? If you plan to apply anyway, then you have nothing to lose. Just remember that, when it comes to getting approved for a credit card, you have to commit to filling out a full application before you know for sure.