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Chase Freedom - Instant Approval

tag
uswala
Senior Contributor

Re: Chase Freedom - Instant Approval

Congrats

Message 11 of 14
cheychey99
New Contributor

Re: Chase Freedom - Instant Approval

Congrats. You are doing great.
Message 12 of 14
kaskuli
Regular Contributor

Re: Chase Freedom - Instant Approval

Congrats!

$26500 Amex EDP / $20000 Merrill+ / $12000 Chase Sapphire Preferred / $12000 Chase British Airways / $7500 Barclays Arrival+ / $7500 FIA Amex / $7500 Paypal Extras MC / $7000 Chase Freedom / $3500 Discover It
Message 13 of 14
irvinfitness
Member

Re: Chase Freedom - Instant Approval

Congrats, that is a great CL for a college student and a great card to have in your wallet. The 5% categories are usually pretty good as well, especially right now during the Holidays. 

 

I do want to make one additional suggestion though. Be very careful about going from one 0% offer to the next and transferring the balance over and over again. For one, there is usually a balance transfer fee of 3%, which is minimal, sure and it is much less than the APR that you would have to pay if you didn't transfer it, but secondly you may find yourself getting into quite a bit of debt that way. As you continue to improve your credit history and length, you will get higher and higher Credit Limits and you might be tempted to make the transfer and then spend some more since it is at 0% interest. Eventually it will catch up to you. 

 

I'm not suggesting that is what you are doing, just wanted to point that out so you keep it in the back of your mind and don't fall into the trap. Looking at your signature suggests you are doing just fine though as the AMEX had a CL of 18k and you are only transferring 3.4k, so my suggestion is more for the community than you specifically. 

 

Message 14 of 14
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