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Member
1hardinquiry
Posts: 21
Registered: ‎12-14-2012
0

Chase Freedom app-wait for util to drop?

680 CK score and they recommend the Chase Freedom.

I actually received an invitation for the Freedom Visa a couple days ago.

 

No Inquiries according to CK but last card approved for was Discover More in August or September with 2,500 CL.

I have a car loan at 3k.

Util is high on Discover card. Close to 80%.

I am an AU on a Walmart CC that is (thankfully?) showing a limit from a few months ago. 700 CL. No balance.

The card I'm an AU on just recently had an increase to 2200 but has a balance of 1k.

If it's going to update, it'll be on the 19th or 20th.

 

My question: I'm wanting to apply with my invite for the Chase Freedom Visa.

 

I also have a Cap1 Furniture Row card I paid off a couple days ago. Limits 1200.

The statements cut on the 15th/16th.

It'll report at that time 0 balance, still 1200 limit. This card doesn't do CLI's, so I thought of that already to increase util.

But at least if I apply after the zero balance updates and before the Walmart Card I'm an AU on does on the 19th/20th,

my util will drop to 50% down from 68%.

 

When should I app for the Chase Freedom? I'd like to if my reports get updated with the zero balance from my Cap1 Furniture Row card,

and also want to app before WM reports the new limit and balance.

 

Total credit: 2500+1200+WM's 700=4400

Balances: Discover 2100 and that's all once Cap1 reports zero balance. Before they report-balance is $598.

47% util if I apply after zero balance reports. 61% if I apply before it reports.

 

Total credit (if applying and IF WM updates report to new limit and balance): 5900

Balances: Discover 2100, WM reports 1200 of 2200 limit, Cap1 $0

55% util if I apply after Cap1 reports 0 balance AND if WM updates after 19th.

 

So if anyone can recommend what to do, I would appreciate it!

 

 

 

Valued Contributor
sccredit
Posts: 1,116
Registered: ‎09-14-2012
0

Re: Chase Freedom app-wait for util to drop?

IMO you should definitely wait and get your Utilization down.  I think an underwriter would probably discount the AU account and show you with high balances with your accounts in your name.  Hang in there, it's a slow process that sometimes takes MUCH longer than we want. 

Never take credit personally

Amex BCP $24,900; Chase Sapphire Preferred $24,200; Discover It $12,500; Chase Ink Cash $15,000; Chase Slate $13,500; Citi TYP $12,900; Amex SPG Biz $3,000; DCU Visa $10,000; Logix FCU $15,000; Citi Home Depot $8,800; Lowes $8,000; Care Credit $6,000; Penfed Platinum Sig $16,000; Barclay Arrival Plus WEMC $15,000; US Bank PLOC Overdraft $1,500; US Bank Perks+ Visa Signature $8,600; US Bank Edge Rewards Business $10,000; PenFed PLOC $5,000

Valued Contributor
armbenderc
Posts: 1,339
Registered: ‎09-11-2012
0

Re: Chase Freedom app-wait for util to drop?

[ Edited ]

1hardinquiry wrote:

680 CK score and they recommend the Chase Freedom.

I actually received an invitation for the Freedom Visa a couple days ago.

 

No Inquiries according to CK but last card approved for was Discover More in August or September with 2,500 CL.

I have a car loan at 3k.

Util is high on Discover card. Close to 80%.

I am an AU on a Walmart CC that is (thankfully?) showing a limit from a few months ago. 700 CL. No balance.

The card I'm an AU on just recently had an increase to 2200 but has a balance of 1k.

If it's going to update, it'll be on the 19th or 20th.

 

My question: I'm wanting to apply with my invite for the Chase Freedom Visa.

 

I also have a Cap1 Furniture Row card I paid off a couple days ago. Limits 1200.

The statements cut on the 15th/16th.

It'll report at that time 0 balance, still 1200 limit. This card doesn't do CLI's, so I thought of that already to increase util.

But at least if I apply after the zero balance updates and before the Walmart Card I'm an AU on does on the 19th/20th,

my util will drop to 50% down from 68%.

 

When should I app for the Chase Freedom? I'd like to if my reports get updated with the zero balance from my Cap1 Furniture Row card,

and also want to app before WM reports the new limit and balance.

 

Total credit: 2500+1200+WM's 700=4400

Balances: Discover 2100 and that's all once Cap1 reports zero balance. Before they report-balance is $598.

47% util if I apply after zero balance reports. 61% if I apply before it reports.

 

Total credit (if applying and IF WM updates report to new limit and balance): 5900

Balances: Discover 2100, WM reports 1200 of 2200 limit, Cap1 $0

55% util if I apply after Cap1 reports 0 balance AND if WM updates after 19th.

 

So if anyone can recommend what to do, I would appreciate it!

 

 

 


You can apply if you want. If denied, call for recon and tell them that you want to take advantage of the 0% BT.

 

I think it's better if you pay down your UTIL, then apply. It's up to you.

 

EDIT: I think I got approved (recon) with 50-60% UTIL. Told them I want BT and they also raise my CL to be able to use card and enjoy 0% apr after BT.

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Valued Contributor
creditnocash
Posts: 2,255
Registered: ‎07-23-2012
0

Re: Chase Freedom app-wait for util to drop?


armbenderc wrote:

1hardinquiry wrote:

680 CK score and they recommend the Chase Freedom.

I actually received an invitation for the Freedom Visa a couple days ago.

 

No Inquiries according to CK but last card approved for was Discover More in August or September with 2,500 CL.

I have a car loan at 3k.

Util is high on Discover card. Close to 80%.

I am an AU on a Walmart CC that is (thankfully?) showing a limit from a few months ago. 700 CL. No balance.

The card I'm an AU on just recently had an increase to 2200 but has a balance of 1k.

If it's going to update, it'll be on the 19th or 20th.

 

My question: I'm wanting to apply with my invite for the Chase Freedom Visa.

 

I also have a Cap1 Furniture Row card I paid off a couple days ago. Limits 1200.

The statements cut on the 15th/16th.

It'll report at that time 0 balance, still 1200 limit. This card doesn't do CLI's, so I thought of that already to increase util.

But at least if I apply after the zero balance updates and before the Walmart Card I'm an AU on does on the 19th/20th,

my util will drop to 50% down from 68%.

 

When should I app for the Chase Freedom? I'd like to if my reports get updated with the zero balance from my Cap1 Furniture Row card,

and also want to app before WM reports the new limit and balance.

 

Total credit: 2500+1200+WM's 700=4400

Balances: Discover 2100 and that's all once Cap1 reports zero balance. Before they report-balance is $598.

47% util if I apply after zero balance reports. 61% if I apply before it reports.

 

Total credit (if applying and IF WM updates report to new limit and balance): 5900

Balances: Discover 2100, WM reports 1200 of 2200 limit, Cap1 $0

55% util if I apply after Cap1 reports 0 balance AND if WM updates after 19th.

 

So if anyone can recommend what to do, I would appreciate it!

 

 

 


You can apply if you want. If denied, call for recon and tell them that you want to take advantage of the 0% BT.

 

I think it's better if you pay down your UTIL, then apply. It's up to you.

 

EDIT: I think I got approved (recon) with 50-60% UTIL. Told them I want BT and they also raise my CL to be able to use card and enjoy 0% apr after BT.


this sadly didnt work for me . i mean i didnt recon, but i apped over the phone, and said id like too bt 2k from best buy, and they only gave me a 500 limit. 

they also dont take store cards into effect just an fyi. 

 

Current: Discover Fico 701 10/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/26/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Established Contributor
namvet
Posts: 866
Registered: ‎09-22-2011
0

Re: Chase Freedom app-wait for util to drop?

It may be possible to get approved for the Freedom card but your credit limit would be minimal at best.  Get your utility down below 35% for best results.


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