Credit Card Center Advertiser Disclosure†
11-06-2012 02:11 PM
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
11-06-2012 02:35 PM - edited 11-06-2012 02:37 PM
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.
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.
11-06-2012 02:44 PM
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?
11-06-2012 02:45 PM
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.
11-06-2012 03:14 PM
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?
11-06-2012 04:56 PM
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
11-06-2012 05:12 PM
11-06-2012 06:17 PM
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
11-06-2012 06:44 PM
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?
11-06-2012 07:29 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.