Even with a perfect credit score, there are several reasons why Chase might deny your application for a credit card like the Chase Freedom Unlimited®. While a high FICO® Score is impressive, it does not guarantee approval. Chase's underwriting process examines various factors beyond just your credit score. For instance, recent changes in income, such as transitioning to self-employment, can raise concerns about financial stability. Additionally, if you've made multiple credit inquiries in a short period, it may signal to Chase that you're taking on too much debt, which could lead to a denial. Lastly, a high credit utilization ratio, which measures how much of your available credit you’re using, can also be a red flag. Ideally, you should keep this ratio below 30% to maintain a healthy credit profile. Therefore, even perfect credit holders need to be cautious about their overall credit behavior to avoid potential pitfalls.
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