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New Member
ficoplease
Posts: 5
Registered: ‎11-06-2012
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Chase Freedom Approval Odds

Hello everyone,

 

I'm new to this forum and wanted everyone's opinion on my odds of getting approved for Chase Freedom. I have had the Bofa 123+checking, savings for 1yr 1m and just recently got a Amex Green NPSL, the green hasn't posted yet. Should I app for the freedom now or should I open a checking with Chase and put 10k and DD to start building a relationship with them? 6 inq, have been working for 1yr 1m, 23 years old, make 90k annually. Thanks

Bofa 123 $2500 (Oct. 2011), Amex Green (Nov. 2012)
Contributor
Voodard
Posts: 83
Registered: ‎06-13-2012
0

Re: Chase Freedom Approval Odds

[ Edited ]

IMO, your credit file is too thin for the Chase Freedom card and because Chase "doesn't know you" it will take some time to build a relationship with them.

 

OR

 

If you don't mind a hard pull on your credit file, go for it.  You may get approved for some measly $500.00 amount, but at least you've opened a Chase account.

TU 743 as of 5/12
EQ 715 as of 10/13
EX Plus 780 as of 7/12

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New Member
ficoplease
Posts: 5
Registered: ‎11-06-2012
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Re: Chase Freedom Approval Odds

I don't think that a 500 CL is what I would like to start off with. Should I go ahead and transfer savings from Bofa and set up a DD with a Chase checking account to begin with. How long should I wait to app?

 

Would bofa frown upon me if I don't have my savings and DD with them anymore?

Bofa 123 $2500 (Oct. 2011), Amex Green (Nov. 2012)
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Chase Freedom Approval Odds

too much lack of information to really pass a judgement but you have NO active credit cards reporting? since  checking or savings doesn't matter, but if you have atleast 1 good year with a active credit card and depositing $10,000 would help a lot, there's coupons online for $200 for checking with DD and $150 for getting $10,000 for sale on ebay that you could use.

 

I would try but you might get a low limit, but then again with 10k+ in your accounts increases your chances  a lot is what I've always been told by branch managers and district managers.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Established Contributor
YahComb
Posts: 595
Registered: ‎03-10-2012
0

Re: Chase Freedom Approval Odds

you might be able to get in with the BOA cash rewards now over a year, but chase might deny you for only 1 reporting revolving tradeline.I'd say at least wait for the AMEX to start reporting Then go for the Freedom.I think then you'd have pretty good chance to get it on Recon. The issue is are you okay with being stuck with a low limit for a while, because that is quite a possibility.

 

How recent are those 6 INQS? all on one report, or spread across all three?

EQ-736(08/14) TU-758(06/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 7.5K | Disc It 9K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yr AAOA: 25.8 mo
Valued Contributor
rootpooty
Posts: 1,738
Registered: ‎10-28-2011
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Re: Chase Freedom Approval Odds


ficoplease wrote:

Hello everyone,

 

 should I open a checking with Chase and put 10k and DD to start building a relationship with them? 6 inq, have been working for 1yr 1m, 23 years old, make 90k annually. Thanks


You cant build a relationship with chase. The constant recommendation of depositing funds into an account WILL NOT INCREASE YOUR CHANCES FOR A CC.  I had been banking with chase for 5 years with 10k plus in checking and a few k in savings buuuuut I also had zero account history thinking living off cash no credit was the way to go.  Denied for freedom they didnt care how long I had a checking account.

 

I say go for it you make a good income I dont see how they would give you 500 my guess is an approval for at least 2500 but you may have to recon it

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Member
MrAnonymous
Posts: 36
Registered: ‎05-31-2012
0

Re: Chase Freedom Approval Odds

I had no relationship with Chase when I applied with them earlier this year. My credit file was thin but spotless. They gave me a 4k credit line on my Freedom and just last month gave me an auto CLI of $500. I've been carrying a 1k balance on there taking advantage of the 0% interest offer I got. I'll pay it off completely next month and will use it more frequently with the hopes of another auto CLI.
Regular Contributor
Chaos122
Posts: 204
Registered: ‎12-20-2010
0

Re: Chase Freedom Approval Odds

Its worth a shot But i would app for a citi dividend instead, i just got approved for the chase freedom after recon for a measly $500.  I had to recon because i had too many new accounts (6 within the last year), and I was hoping for at least 2k.  I was shocked when they said 500 (my lowest current cl is 3k)  But i figured Id take it just to build a positive relationship with them and hopefully cli in 6 months. 

 

They seem to put alot of weight on new accounts/inqiries, because this is my lowest limit EVER. lol

 


Starting Score: TU 608, Eq 618
Current Score: TU 755 Eq 746, Ex 770(psecu)
Goal Score: 780 across the board


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New Member
ficoplease
Posts: 5
Registered: ‎11-06-2012
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Re: Chase Freedom Approval Odds

The card I have with Bofa is the cash rewards card, even when it was secured. My 5 inq are pretty spread out: nov 11', feb 12', apr 12', aug 12' and oct 29'th 12'. It's actually 5, my bad. These show up on TU, I don't know about ex or eq, i just looked on credit karma.

 

I was wondering how should I use my green amex, have a 0 balance on it, and <10% on my bofa cc? Or it doesn't even matter on the charge card. I saw in the forums something about having less than 50% of your accounts with a balance. Does it apply to 1 charge and 1 cc?

Bofa 123 $2500 (Oct. 2011), Amex Green (Nov. 2012)
Valued Contributor
SnackTrader
Posts: 1,566
Registered: ‎09-15-2012
0

Re: Chase Freedom Approval Odds

Do you have any student loans or any other type of installment history reporting?

Many above are citing your lack of credit history. Granted, installment and revolving are not seen the same, but I like to believe that good installment history can still make a difference. I'm not talking about Chase specifically, just in general. We all know that it helps credit scores, which makes a difference in automated approvals for many lenders.

In My Wallet: Amex BCP (12/12) $22.200, Cap1 Quicksilver (6/12) $14,000, Chase CSP (4/14) $12,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600, Chase Freedom (12/12) $5,000

Last App: April 2, 2014

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