In slight disbelief... a Chase Freedom approval (w/ 7-10 day message)

[dman23]

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@Anonymous wrote:

Yeah, I had originally planned on renting for another year and no new lines of credit thinking I'd have good amount of time for new activity to settle down but my Landlord sprung the "I want to sell my house this spring" thing on me so that gives us til April / March'ish and I think for sure we'll have to find another rental, I did not want to move into another rental I just wanted to buy and get it over with...

I know a year from now my credit will be way better especially if this Freedom is the last thing I open until then but damn I don't want to rent something else unless it's as good as what I've got now.

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That does stink that your landlord sprung that up on you. Now you want something as nice as what you have. And you ultimately want a house. A lot of times when you want something you have to sacrifice other things. My best friend is a great example. I'll try and make it short:

We live on Long Island, NY He was with a girlfiend for several years. She owned a nice house. He commuted to New Jersey to work (couple hours commute, each way).

Broke up with girlfriend. I know at that point his goal was to buy his own home. He moved to Newark, NJ (a **bleep**hole), rented an apartment that he actually shared with a couple of guys he didn't even know. Long story short, he was willing to sacrifice living in a nice apartment for say $1,500-$2,000 per month and instead live in a dump and pay only $500 per month. Don't remember how many years (3-5), but he socked away that difference and now has (with a new girlfriend) an absolutely gorgeous house in PA. I think they paid $700-$750,00k. He's 48 now. Been in the house about 8 years. He had a goal and did what it took to get there.

My guess is you're a lot younger so you can get to the same point  at a younger age.

[Anonymous]

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@dman23 wrote:

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@Anonymous wrote:

Yeah, I had originally planned on renting for another year and no new lines of credit thinking I'd have good amount of time for new activity to settle down but my Landlord sprung the "I want to sell my house this spring" thing on me so that gives us til April / March'ish and I think for sure we'll have to find another rental, I did not want to move into another rental I just wanted to buy and get it over with...

I know a year from now my credit will be way better especially if this Freedom is the last thing I open until then but damn I don't want to rent something else unless it's as good as what I've got now.

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That does stink that your landlord sprung that up on you. Now you want something as nice as what you have. And you ultimately want a house. A lot of times when you want something you have to sacrifice other things. My best friend is a great example. I'll try and make it short:

We live on Long Island, NY He was with a girlfiend for several years. She owned a nice house. He commuted to New Jersey to work (couple hours commute, each way).

Broke up with girlfriend. I know at that point his goal was to buy his own home. He moved to Newark, NJ (a **bleep**hole), rented an apartment that he actually shared with a couple of guys he didn't even know. Long story short, he was willing to sacrifice living in a nice apartment for say $1,500-$2,000 per month and instead live in a dump and pay only $500 per month. Don't remember how many years (3-5), but he socked away that difference and now has (with a new girlfriend) an absolutely gorgeous house in PA. I think they paid $700-$750,00k. He's 48 now. Been in the house about 8 years. He had a goal and did what it took to get there.

My guess is you're a lot younger so you can get to the same point  at a younger age.

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Yeah, I'm sure we'll get it sorted out.. We're a family of 5 so it's tough not to have a larger place that's the only issue, plus we have pets and it's hard to find a rental that's ok with 2 dogs and a cat as well. I think a year from now my credit will be so much better than it is now and probably make it way easier to qualify for something, I have a fiance who will be applying as well but we're about neck & neck with credit scores even though I have a way longer history but only been rebuilding since 2014.

Just want to find something decent to rent, maybe I can talk my landlord into one more year, doubtful but you never know. He just wants to sell the house because he's sick of worrying about a house and having the responsibility when he could just get rid of it and make life easier on himself I guess. We've lived here for quite some time, blew half the price of a house in rent already but was never in a position to buy anything, lots of factors make picking a rental pretty tricky especially the pets and I'm not getting rid of them for anything.

[Loquat]

Congrats on your new Freedom card!

[Jerry45]

Congrats. A top tier card at any limit.

[Anonymous]

Congrats, even though I know it's sort of bittersweet. 

Question: You said 10 new accounts since 2014? I'm trying to wrap my head around it in conjunction with what we've seen from chase re: the 5/24 rule--if you have 5 or more new accounts in the past 24 months it's generally a no. I know there have been exceptions, just confirming you're one of them. 

I'm guessing there's no way to make your landlord some kind of offer that might sway him/her away from selling? Offer more than you've been paying for a year or two lease?  ETA: I see you've already thought of that. I missed that first time through. It doesn't sound like he's desperate for the money for some particular purpose. I'd work on that! You hear about lease/own deals. Maybe something like that? Your scores now would make a mortgage 'unpleasant' now anyway. If you could rent for a couple years more, particularly since it sounds like you like it there, I'd work on trying to make it happen. Or at least know there's no chance of it before you rule it out. 

[undrtkr65]

Congrats on your approval!!!!

[MovinOnUp2014]

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@Anonymous wrote:

So I knew this was literally impossible but applied anyway, 1) I could NEVER get a pre-qualified offer 2) I burned Chase once for $5000 3) I have opened like 10 accounts since 2014 so I figured that automatically would spell a No but something came over me a couple weeks ago I feel like it was and I applied for a Freedom.

I just now today got an e-mail I was not expecting, I had originally received the 7-10 day notification when  I applied online and just wrote it off as a complete fail, didn't attempt to contact them or anything I just figured it was the likely outcome anyway... here's the email though.




I am literally shocked, in disbelief over this... It's a happy / sad moment, I was starting to look for a house and this is yet another freshly opened account a month before I was going to do it, I suppose I might have a few weeks before it shows up on my credit report though, lol.  Either way I am officially in with Chase again and this has me geeked because that's one of the hardest to get in with from my understanding, especially with my previous history.


Happy Dance.

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Big congrats to you on your Chase success 👏🏽

[Anonymous]

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@Anonymous wrote:

So I knew this was literally impossible but applied anyway, 1) I could NEVER get a pre-qualified offer 2) I burned Chase once for $5000 3) I have opened like 10 accounts since 2014 so I figured that automatically would spell a No but something came over me a couple weeks ago I feel like it was and I applied for a Freedom.

I just now today got an e-mail I was not expecting, I had originally received the 7-10 day notification when  I applied online and just wrote it off as a complete fail, didn't attempt to contact them or anything I just figured it was the likely outcome anyway... here's the email though.




I am literally shocked, in disbelief over this... It's a happy / sad moment, I was starting to look for a house and this is yet another freshly opened account a month before I was going to do it, I suppose I might have a few weeks before it shows up on my credit report though, lol.  Either way I am officially in with Chase again and this has me geeked because that's one of the hardest to get in with from my understanding, especially with my previous history.


Happy Dance.

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Congrats!. I have bunch of inquires and new accounts.  I burned Chase with 3 accounts. I applied and was denied due to BK. After recon they approved me for $7,000. Still waiting for the card! Was just curious how long you had to wait to get back in?