Credit Cards

[ucigrad05]

I have been rebuilding my credit with two secured cards in the last 5 months, Capital One ($1500) and BOFA ($1300), kept them at zero balances. Have had quite a few a collection accounts that been charged off in the past seven years due to irresponsible spending in my early 20's, three of them fairly recent, still not paid off and negative on my report, one for over $5K. I pulled my 3 score report from USAA this morning had: EXP 629 TU 627 EQX 605. So this was a big improvement from May when I was in the Mid 500's for all three. I applied for a refinance of my car earlier this morning through a local credit union and got a rate or 4% which I am very happy about. Then I felt lucky and went to Chase and applied for the Freedom card. I was denied right away, I called the credit card new card lending department about 5 minutes after I applied and discussed my application with them. I was on the phone for about 30 minutes going over my entire financial application and credit report. It took a total of about about 3 phone calls from their department and a little over an hour of my time, but it was well spent as I finally got an approval for $1000. I was so happy to hear I got approved! It goes to show anything is possible when you call recon!

[creditnocash]

Congrats. great news. 

sadly unless your a department store shopper the 5% isnt that great this quarter. 

when most of my inquires become invalid or fall off im going to ask for a cli on freedom. 

500 is too little. 

i have to split between cards or use it and pif before due date while using my zync or mastercard. 

[alboto]

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creditnocash wrote:

Congrats. great news. 

sadly unless your a department store shopper the 5% isnt that great this quarter. 

when most of my inquires become invalid or fall off im going to ask for a cli on freedom. 

500 is too little. 

i have to split between cards or use it and pif before due date while using my zync or mastercard. 

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I feel your pain with the 500 CL.

[Revelate]

Congrats ucigrad, persistence really pays off with Chase heh.  I'm even a little envious of your refinance as that is an utterly sweet rate, I only got down to 6% with mine which I'm still tickled pink by heh.

Also welcome to the forums!  I didn't realize the other one I saw was your first or second here.

[youngandcreditwrthy]

Congrats!!!! And welcome!!!
Too bad you missed 5% cb on gas/restaurants last quarter!!!!

Getting the $100 cb after $500 in purchases in 90 days though?!?
You better!!

[jasimae]

Congrats on the approval. I was denied for the Freedom last year due to limited history, but was approved for other cards instead. That denial has left a "longing" in my wallet for the Freedom, which I will be apping for next year.

[gettnthere]

CONGRATS!!

[ucigrad05]

Thanks! Ive been in the rebuilding mode for the past 6 months. So while on the phone, I was able to pick the brain of the recon specialist to see the underwriting requirements for the freedom/slate/sapphire. I was wondering if you get approved for one, your could have picked any of the three. But limits for Freedom start at $200, Slate $500 and Sapphire $5000, according the representative I was speaking to. So each card has their own requirements. But its a good start nonetheless, with the ultimate rewards and $100 for the first $500 is a very good promotion, one of the best rewards cards with no annual fee.