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Valued Member
SALEEN961
Posts: 34
Registered: ‎04-21-2013
0

Chase Freedom, Should I Apply?

Lately I keep finding myself eying Chase's Freedom card because the 5% categories for 2013 fit my spending habits perfectly and while that's no guarantee of what I can expect come 2014 I could still enjoy the next 6 months even if the new categories don't work for me. I'm not sure if I should apply though because I already have a few new tradelines one of which is from Chase and I've heard that Chase is very hesitant about approving people with recent credit seeking habits, so I'm looking to see what you guys think.

 

The last time Chase pulled my CR they pulled EX and my EX score from an AMEX pull earlier this month was 754. Here's what Chase will see if they pull my current account info with them and credit report before the next statements cut:

 

Age: 23

Income: 51K

Inquiries: Less then 3 at each CRA

AAoA: 1yr8mo

Util: 16%

PayPal Extras MC:  (500/7500) 2yr8mo

Discover More:        (400/3000) 0yr5mo

Chase Amazon:    (1100/2000) 0yr2mo

AMEX BCE: Not Reporting Yet, Opened This Month

2 Student Loans: (5300)

 

I have no dergos and have a history of paying in full, as agreed on all accounts. I also have 5 student loan accounts reporting as closed, paid, never late that will report until 2022 when the loans were originally scheduled to be repaid.

Discover IT 19K | AMEX BCE 13.9K | PayPal Extras MC 10K | Chase Freedom Visa Signature 5K | Chase Amazon 4K

EX FICO: 751 myFICO 4/14, 754 Amex 5/13
EQ FICO: 775 DCU 4/14, 754 myFICO 7/13
TU FICO: 788 Discover 8/14, 762 myFICO 7/14
Community Leader
Senior Contributor
myjourney
Posts: 26,659
Registered: ‎02-07-2013
0

Re: Chase Freedom, Should I Apply?


SALEEN961 wrote:

Lately I keep finding myself eying Chase's Freedom card because the 5% categories for 2013 fit my spending habits perfectly and while that's no guarantee of what I can expect come 2014 I could still enjoy the next 6 months even if the new categories don't work for me. I'm not sure if I should apply though because I already have a few new tradelines one of which is from Chase and I've heard that Chase is very hesitant about approving people with recent credit seeking habits, so I'm looking to see what you guys think.

 

The last time Chase pulled my CR they pulled EX and my EX score from an AMEX pull earlier this month was 754. Here's what Chase will see if they pull my current account info with them and credit report before the next statements cut:

 

Age: 23

Income: 51K

Inquiries: Less then 3 at each CRA

AAoA: 1yr8mo

Util: 16%

PayPal Extras MC:  (500/7500) 2yr8mo

Discover More:        (400/3000) 0yr5mo

Chase Amazon:    (1100/2000) 0yr2mo

AMEX BCE: Not Reporting Yet, Opened This Month

2 Student Loans: (5300)

 

I have no dergos and have a history of paying in full, as agreed on all accounts. I also have 5 student loan accounts reporting as closed, paid, never late that will report until 2022 when the loans were originally scheduled to be repaid.


Looks good but I do have a question how many total INQ's in the last 6 months? Chase likes to see 1 year of CC history which you have but they can be INQ sensitive as well:smileysad:

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Community Leader
Senior Contributor
myjourney
Posts: 26,659
Registered: ‎02-07-2013
0

Re: Chase Freedom, Should I Apply?


myjourney wrote:

SALEEN961 wrote:

Lately I keep finding myself eying Chase's Freedom card because the 5% categories for 2013 fit my spending habits perfectly and while that's no guarantee of what I can expect come 2014 I could still enjoy the next 6 months even if the new categories don't work for me. I'm not sure if I should apply though because I already have a few new tradelines one of which is from Chase and I've heard that Chase is very hesitant about approving people with recent credit seeking habits, so I'm looking to see what you guys think.

 

The last time Chase pulled my CR they pulled EX and my EX score from an AMEX pull earlier this month was 754. Here's what Chase will see if they pull my current account info with them and credit report before the next statements cut:

 

Age: 23

Income: 51K

Inquiries: Less then 3 at each CRA

AAoA: 1yr8mo

Util: 16%

PayPal Extras MC:  (500/7500) 2yr8mo

Discover More:        (400/3000) 0yr5mo

Chase Amazon:    (1100/2000) 0yr2mo

AMEX BCE: Not Reporting Yet, Opened This Month

2 Student Loans: (5300)

 

I have no dergos and have a history of paying in full, as agreed on all accounts. I also have 5 student loan accounts reporting as closed, paid, never late that will report until 2022 when the loans were originally scheduled to be repaid.


Looks good but I do have a question how many total INQ's in the last 6 months? Chase likes to see 1 year of CC history which you have but they can be INQ sensitive as well:smileysad:


Edit never mind INQ I see it... You look good IMHO

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Chase Freedom, Should I Apply?


SALEEN961 wrote:

Lately I keep finding myself eying Chase's Freedom card because the 5% categories for 2013 fit my spending habits perfectly and while that's no guarantee of what I can expect come 2014 I could still enjoy the next 6 months even if the new categories don't work for me. I'm not sure if I should apply though because I already have a few new tradelines one of which is from Chase and I've heard that Chase is very hesitant about approving people with recent credit seeking habits, so I'm looking to see what you guys think.

 

The last time Chase pulled my CR they pulled EX and my EX score from an AMEX pull earlier this month was 754. Here's what Chase will see if they pull my current account info with them and credit report before the next statements cut:

 

Age: 23

Income: 51K

Inquiries: Less then 3 at each CRA

AAoA: 1yr8mo

Util: 16%

PayPal Extras MC:  (500/7500) 2yr8mo

Discover More:        (400/3000) 0yr5mo

Chase Amazon:    (1100/2000) 0yr2mo

AMEX BCE: Not Reporting Yet, Opened This Month

2 Student Loans: (5300)

 

I have no dergos and have a history of paying in full, as agreed on all accounts. I also have 5 student loan accounts reporting as closed, paid, never late that will report until 2022 when the loans were originally scheduled to be repaid.


IMO I woul get the util. down to 10% overall and PIF the Chase account before you apply. Good luck!!! :smileyhappy:




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Moderator Emeritus
webhopper
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Chase Freedom, Should I Apply?

I think your profile will be fine for Freedom.  You can always do a recon when you app if originally declined.  For best chances, pay down the Amazon card before the next statement cuts.


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Moderator
09Lexie
Posts: 26,321
Registered: ‎09-13-2012
0

Re: Chase Freedom, Should I Apply?

Credit looks good, the new accts are ok too in your case but that util on Amazon is too high.
Valued Contributor
parakleet
Posts: 1,145
Registered: ‎04-13-2013
0

Re: Chase Freedom, Should I Apply?

I agree with @myjourney. I don't see why you wouldn't be approved. My DH was approved for the freedom this weekend - with a recon, mind you - but he also had high util and one baddie that he had to explain to the analyst. I think the freedom would be an excellent addition to your collection. I have 4 cards with chase so I wouldn't worry. Good luck!


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Valued Contributor
lg8302ch
Posts: 2,976
Registered: ‎11-13-2012
0

Re: Chase Freedom, Should I Apply?


09Lexie wrote:
Credit looks good, the new accts are ok too in your case but that util on Amazon is too high.

+1

FICO® EQ 800 (as of today) - TU 778 (10/28) * Fako EX 803 (11/02 - CS) * last app 06/01/14 * INQ last 2 yrs TU: 5, EX: 7, EQ: 7


Move the mouse over the cards for detailed view!..................................................................* Silver Spade Garden Club member *

Valued Member
SALEEN961
Posts: 34
Registered: ‎04-21-2013
0

Re: Chase Freedom, Should I Apply?

If you all think the util on my amazon card is that only thing they'd be concerned with then I think what I'll do is apply with the high balance (all from this month, nothing rolled over) and if I get denied I'll pay if off and call in for a recon, but if I get approved with the high balance I'll pay it off after I'm approved and call in for a recon on my credit limit citing that after applying I realized that the high balance on my Amazon card may have influenced where they set my new limit. I think I might be able to get a higher initial CL this way.

 

Sound like a good plan?

Discover IT 19K | AMEX BCE 13.9K | PayPal Extras MC 10K | Chase Freedom Visa Signature 5K | Chase Amazon 4K

EX FICO: 751 myFICO 4/14, 754 Amex 5/13
EQ FICO: 775 DCU 4/14, 754 myFICO 7/13
TU FICO: 788 Discover 8/14, 762 myFICO 7/14
Moderator
09Lexie
Posts: 26,321
Registered: ‎09-13-2012
0

Re: Chase Freedom, Should I Apply?

Keep in mind, they will pull another cr ( HP) if you have to recon

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