Chase Freedom Pre-Approval Offer

[improvingmycredit]

Hey FICOites!

I have gotten these pre-approval offers from Chase for the Freedom card.  It's the $300 cash back offer for first purchase with 12.99% apr after 12 months of 0% APR for BT and purchases.

I can't decide if I should app for the card because I already have the Amex BCP with rewards.  What's driving me to app is the instant $300 cash back.  I really don't need the card but $300 is $300.  What do you think?  Would you app for the card?  Not worried about AAoA but not particuarly excited about another HP on EQ.  I'm apping for a mortgage in Jan-Feb of 13. 

Kind of a silly post but I really am going from one side to the next with regards to apping and I'd like some help with my mental debate.    I think I will just go with most responses from this thread with the yes or no votes.

[spengbab]

The only disadvantage the chase freedom will have against the BCP is that the rewards category changes quarterly. Honestly I would stick to the BCP but if you're feeling the urge to get another card...

[Anonymous]

Your scores are good enough that an INQ isn't going to keep you from getting the best rates on a mortgage, and if you're that hard up for $300 maybe you should spend a bit more saving for a downpayment before you apply for a loan.  I vote yes.

[improvingmycredit]

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@Anonymous wrote:

Your scores are good enough that an INQ isn't going to keep you from getting the best rates on a mortgage, and if you're that hard up for $300 maybe you should spend a bit more saving for a downpayment before you apply for a loan.  I vote yes.

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Ha-Ha, not hard up for $300.  Just for some reason have this itchy finger for the card and $300 sounds like a good reason though I know that I should just stick with what I got.  Thanks though. 

[LS2982]

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@improvingmycredit wrote:

Hey FICOites!

I have gotten these pre-approval offers from Chase for the Freedom card.  It's the $300 cash back offer for first purchase with 12.99% apr after 12 months of 0% APR for BT and purchases.

I can't decide if I should app for the card because I already have the Amex BCP with rewards.  What's driving me to app is the instant $300 cash back.  I really don't need the card but $300 is $300.  What do you think?  Would you app for the card?  Not worried about AAoA but not particuarly excited about another HP on EQ.  I'm apping for a mortgage in Jan-Feb of 13. 

Kind of a silly post but I really am going from one side to the next with regards to apping and I'd like some help with my mental debate.    I think I will just go with most responses from this thread with the yes or no votes.

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If you app for it now the INQ will be a year old and more than likely not hurting you on a mortgage. It's pretty much Are you willing to live with the INQ for 2 years.

[MrShush]

I would do it--in fact, I did do it for the $300. Free money is a motivator especially when you don't have to meet spend requirements. Sure, you may have the BCP, but not everywhere takes AMEX so a backup is always recommended. The score hit won't matter much either and applying for a mortgage, it shouldn't matter. If you decide to take the offer, this should probably be your last until you close.

[clocktick]

I have the BCP and Chase Freedom.  I use my Freedom whenever Amex is not accepted.  I also use my Freedom when the 5% off gas is going on (this year Jan-March and July-Sept.) or another category that beats out the Amex.  I received the "free" cash and keep on racking up more with the categories.

[improvingmycredit]

Does the Freedom VISA sig report the credit limit? Thanks for the input everyone. Every time, before I app for a card- I really fight with myself about "need" over "want". Because of this- I've been able to really watch my FICO score grow. I think I might pass on this one though. I don't have a VISA sig and was just wondering about how Chase reports this.

[Chris123nTx]

I had been debating with myself over a pair of speakers i wanted. The free 300 made up my mind for me.

I vote yeah, why the heck not. They are quick with the money too, i recall wass only 1500 or something like that in the first three months that you had to spend.

[MrShush]

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@improvingmycredit wrote:
Does the Freedom VISA sig report the credit limit? Thanks for the input everyone. Every time, before I app for a card- I really fight with myself about "need" over "want". Because of this- I've been able to really watch my FICO score grow. I think I might pass on this one though. I don't have a VISA sig and was just wondering about how Chase reports this.

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I have the Signature and I can confirm the limit does report. You don't need a new card per se, but you DO want $300!