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I'm trying to app for the Chase Freedom MC. However, I've heard from the representative that you must have a minimum of 12 months of revolving credit history, which is what she told me after I was rejected the first time a few months ago. Now I still don't have one year, but I have three tradelines with some what respectable lenders (Wells Fargo, AMEX, and... well.. Capital One heh).
Was the rep right or should I try my luck again this month since I do need a Mastercard ..
@Anonymous wrote:I'm trying to app for the Chase Freedom MC. However, I've heard from the representative that you must have a minimum of 12 months of revolving credit history, which is what she told me after I was rejected the first time a few months ago. Now I still don't have one year, but I have three tradelines with some what respectable lenders (Wells Fargo, AMEX, and... well.. Capital One heh).
Was the rep right or should I try my luck again this month since I do need a Mastercard ..
I got chase visa with 9 month credit history of 750 cli cap1.
Just curious but did you have any other lines of credit/loans that could've been on your credit file?
I got a chase freedom two days ago with a 674 fico, 2 CCs oldest was 9 months, but I had to recon and mention that I never missed a payment on my student loans with over 6 year history.
Good luck, let us know how it goes if you apply!
@Anonymous wrote:I'm trying to app for the Chase Freedom MC. However, I've heard from the representative that you must have a minimum of 12 months of revolving credit history, which is what she told me after I was rejected the first time a few months ago. Now I still don't have one year, but I have three tradelines with some what respectable lenders (Wells Fargo, AMEX, and... well.. Capital One heh).
Was the rep right or should I try my luck again this month since I do need a Mastercard ..
When I applied for my Freedom MC there was only one revolving account on my reports, a CU Visa that was open for 8 months. The only other things on my reports were my student loans which had years of good history.
+1
I would wait as well, although I was able to get the card earlier than normal. I was only given a $500 CL which is fine with me as I know the cards I have now will grow with me over time. I only applied because it was suggested, but it took 2 recon attempts for a toy limit. Got my foot in the door though!
Call again.
Would it be possible for people to post their approval dates please?
Chase appears to have changed the underwriting sometime in June/July for the Freedom specifically (significantly loosening the underwriting criteria at least on the FICO side and presumably the revolving history as well).
Prior to that I'd say that on their bell curve of approvals, certainly under the first standard deviation had a minimum of one year history; however, recently we've seen several approvals in the 8-9 month range, and maybe down as far as six which would make sense from a product placement perspective competing against Amex (Zync).
FWIW: The CSR may be working off old data as lenders don't generally update them with changes in underwriting criteria, at least anecdotally this forum and the various credit approval databases seem to be better resources.