Not auto-approved for Chase Freedom, thoughts on likelihood of approval?

[Anonymous]

I applied for a Chase Freedom last night and got the "We'll let you know within 30 days" email. The same thing happens when I call the number to check application status. I'm feeling anxious as I've been working on getting my file in order and this was my first application for a credit card in years.

• Scores: EX 683, TU 689, EQ 749
• One paid CO on EX/TU from 2 years ago fully paid with BofA, EX deleted it because of reporting issues from BofA. That's why the EX score is so different.
• 1 CC with CapOne, $13.5k limit, one late payment 4 years ago and perfect otherwise, 7% utilization
• 1 late payment reporting on a closed/fully-paid student loan
• 2 open installment loans with balances under 9%
• No new CCs in years so well under 5/24 rule
• No public records, bankruptcy, liens, etc
• Applied after completing the Chase pre-qualification screen. This was one of the cards listed in there as being pre-qualified for.

Does this profile look reasonable for a Freedom card? I have seen other threads on other forums about calling the Recon line if I'm denied, but I'm super stressed as I wanted to add 2 more cards to get my total cards up to 3 and continue building my profile positively. Appreciate any thoughts, advice, encouragement, etc.

[Anonymous]

Tough to say since you've only got one CC but the fact that it's a high limit might help.

Report back either way and definitely recon any denials!

[Anonymous]

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@Anonymous wrote:
Tough to say since you've only got one CC but the fact that it's a high limit might help.

Report back either way and definitely recon any denials!

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Thanks. What makes this tough to say? Is it the scores, something I mentioned in my file, etc?  I have a long credit history if that makes any difference. AAoA (including closed accounts like student loans, car loans, etc) is over 9 years. AA of open accounts is 4 years. The CapOne card is 8 years old. 

If this gets denied, where else should I look for a couple of CCs to continue building my profile? I feel like I'm stuck in a catch-22 where I need more credit cards to build my profile but I am anxious about getting one.  I can get my spouse to add me to her Sapphire Reserve but I know that won't help as much as getting my own. 

[Anonymous]

Chase is an oddball lender who generally prefers seeing history.

The fact that you have excellent history and a high limit is helpful, but that it's only on one card might be restrictive.

I think you'll get approved, tho.

[Anonymous]

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@Anonymous wrote:
Chase is an oddball lender who generally prefers seeing history.

The fact that you have excellent history and a high limit is helpful, but that it's only on one card might be restrictive.

I think you'll get approved, tho.

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Thanks. I'll report back. I guess worst case if I'm denied is I look for another card from another lender, get my spouse to add me on her Sapphire Reserve, and try again in a few months for Chase. 

[RadioRob]

The 30 day message is not necessarily bad. I had that message show up for 8 days before my CSP was approved for 10K.

For being as big as they are, they certainly move slow in getting through their approvals queue. But again that’s still not such a bad thing in the end. It’s better than an instant denial.

[Anonymous]

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@RadioRob wrote:
The 30 day message is not necessarily bad. I had that message show up for 8 days before my CSP was approved for 10K.

For being as big as they are, they certainly move slow in getting through their approvals queue. But again that’s still not such a bad thing in the end. It’s better than an instant denial.

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Thanks Rob. That's helpful. I'm still super anxious about it as I haven't applied for new credit in ages largely because of the BofA chargeoff disaster. 

I was a Chase cardholder years ago so I'm assuming they'll also have to reconcile this current application with their old files on me. I'm hoping it'll work out as I am on a longer-term strategy with Chase to get a better card. 

[RadioRob]

Good luck! I know how much waiting sucks. The automated status check lady seemed to be getting a judging tone with me each time she said we will let you know within 30 days!

[sjt]

It’s probably a verification issue. Call the department at 1-800-278-8830. 

[Anonymous]

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@sjt wrote:

It’s probably a verification issue. Call the department at 1-800-278-8830. 

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You were right. Just spoke with them. Approved for $4k CL!