Approved for Chase Freedom

[LS2982]

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@CS800 wrote:

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@Celle31 wrote:
Yup, she didnt know what she was talking
about. Just got a scorewatch alert. New inquiry for chase and it's equifax not transition(that I know of). Good thing is my credit score didn't change and I got approved. So I guess I won't get too upset with her.

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The only thing that can happen is that once the new card reports, it will lower your AAoA and then you might lose some points. But on the other hand, it will bring your util down and that in itself can compensate for the AAoA loss.

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+1

[laboi_22]

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@Celle31 wrote:

So, I went to my bank today to open up another checking account for me and my husband. I've had an acct with chase for around 3-5 years. Anyway I saw a paper about the chase cards and I made a comment to the lady assisting us that I need to apply for one, but didn't want an inquiry if I was gonna be denied any way. No collections, but alot of late payments on report. She told me they pull Transunion (Louisiana) because everyone pulls equifax and it would be inhouse, thus no hard inquiry. With no hard inquiry, I was like ok go ahead. Nothing to lose now. Well it came back approved for $4000.00. (WHAT?) OH YEAH!!!

My question is, I opened a rebuilder card on 04/2011 with orchard with a $300.00 credit limit unsecured (from $300 to $4000, CRAZY) and I do have a annual fee of $79.00 (which is due 04/2012), should I keep the orchard account or close it? If I close will it hurt my credit score? The lady at the bank said I should keep it for at least 2 years, or it will hurt my credit score.

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Yeah I'm from Louisiana and I'm a Chase customer. They said the same thing to me. A few days later a hard inquiry. Asked for a CLI they said not Hard Pull (HP) however a few days later HP on my report. I was still happy with the CLI, but she did not know what she was talking about.

[JustMe77]

Congrats on the Freedom card!

I would wait until right before your AF hits on the Orchard card to close it. No reason to keep it open when you have the Freedom card. 

I opened a Chase Freedom card last month and they did a HP on Experian. They didn't do SP's anywhere. 

[Celle31]

Thanks everyone for the congrats and the wonderful advice. I think im gonna close the orchard in March before the annual fee is due, but do i need to apply for another card? I heard that its good for your score if you have at least 2 credit cards reporting. I also have a home depot card with a $500.00 limit (should i try to get it increased or stay where im am) it was opened 0n 04/2011 same as the orchard acct. I only have 3 inquiries on credit report (equifax), and about 5 on transunion.