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Chase Freedom approved now with a soft pull, should I proceed with CLI for other cards

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ratatouille22
New Member

Chase Freedom approved now with a soft pull, should I proceed with CLI for other cards

Background: 23, recent grad with no job, foreigner, credit history of 7 months old, 2 CCs (BoA and Citi) with $1400 CL approved 7 months ago with no hard pulls

I got approved for Chase Freedom with a CL of $500 yesterday. Surprisingly, it was a soft pull and no income verification. I guess I was lucky. My credit score was good though (EX 730 6 months ago with no CCs yet and no loans) and I pay my balances in full.

Since my 2 older CCs are more than 6 months old, I am thinking of asking for a CLI. However, the Chase manager told me to wait for a month as the new application will show in my credit report (that was when we thought it would be a hard pull). I assume it won't affect my score since it is a soft pull now, should I proceed with the CLI or wait for a month or another 6 months? Please advice

Message 1 of 15
14 REPLIES 14
JonStur
Established Contributor

Re: Chase Freedom approved now with a soft pull, should I proceed with CLI for other cards

In my opinion since you have three new tradelines and theyre your first, I suggest you use them responsibly and let them age for at least six months.


Starting Score: TU 595 EX 600 EQ 585
Current Score: TU 820 EX 825 EQ 812
Goal Score: 800 Club (Mission Accomplished)

Amex Platinum, Amex BCP $17.5K, 5/3 Sig $10K, Capital One Quicksilver 15K, Walmart 10K, US Bank Cash+ 15K, Sam's Club 10K, Chase Freedom $6K, Discover More $15K, Chase United Club MileagePlus $33K, Costco $6K, CapOne Quicksilver One $7K, Cap One Quicksilver $5K, Amazon $3K, Barclays $12.5K, Home Depot $7.5K, AppleCard $6K
Message 2 of 15
OptimalCS
Frequent Contributor

Re: Chase Freedom approved now with a soft pull, should I proceed with CLI for other cards

Saw congrats!

Go for it!
"Wisdom is the principal thing..."
Message 3 of 15
navigatethis12
Valued Contributor

Re: Chase Freedom approved now with a soft pull, should I proceed with CLI for other cards

What makes you believe the application resulted in a soft inquiry?

Message 4 of 15
kilj0y
Regular Contributor

Re: Chase Freedom approved now with a soft pull, should I proceed with CLI for other cards

You mention Ex, but did you check EQ?

Message 5 of 15
Jutz
Valued Contributor

Re: Chase Freedom approved now with a soft pull, should I proceed with CLI for other cards

If you've never been a customer with Chase before, I don't see any way it was a soft pull.  In addition, there are two reasons I think you should wait awhile before you ask for CLI.  First, I believe both BOA and Citi are hard pulls for CLI.  Second, if you're a recent grad with no income verification, it's going to hinder or at least severely limit your ability to get a decent CL.  Assuming you've jumped into the job market now, you might as well wait until you have some form of verifiable income, since with your score, your income level is the biggest determiner of CL.

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 6 of 15
Jasir
Frequent Contributor

Re: Chase Freedom approved now with a soft pull, should I proceed with CLI for other cards

Congrats! Listen to the Chase rep and use the current CL regularly for 6 months. I think if you ask for a CLI now you will be denied (even with a high FICO) because the account is brand spanking new and Chase will want to monitor your habits with them to know you can handle the extra credit responsibly.



Amex BCE: $2600 - Bank of America Cash Rewards: $4800 - Barclaycard Rewards: Jefferson Collections - Capital One Quicksilver: CO - Chase Freedom: C0 - Merrick Bank: $1400 -
Message 7 of 15
09Lexie
Moderator Emerita

Re: Chase Freedom approved now with a soft pull, should I proceed with CLI for other cards

Welcome to the forum! Congratulations on your Chase approval. If you receive the cc without a HP, it would be unique. I believe you as a pre-approval from the SP with a HP to follow. Often, bank employees have no idea what a sp vs Hp is or even what CB they pull.
Message 8 of 15
ratatouille22
New Member

Re: Chase Freedom approved now with a soft pull, should I proceed with CLI for other cards

Some clarifications.


Been with BoA for 4 years and used to have a secured card with a CL of 2k. Similarly, 4 years with Citibank except Citi Forward is my first card with them. When I checked one of the reports (forget which one), it says zero inquiries but they might show up in other reports though as mentioned by someone above.

I was pre-approved for Chase Freedom and Slate after I signed up for Chase checking 7 months ago. In fact, I was also offered the United MileagePlus mainly because I have close to 100k miles with United but don't think I will get approved. The manager confirmed it was a soft pull and no questions or income were asked or verified during the process. Whole process took only 2 minutes in the bank branch.

I only plan to request for a CLI for my BoA and Citi card since they are 7 months old. Yet, since I don't need those extra CL (except that I need to pay my balance off more often to avoid exceeding the 25% utilization), I will wait till I get a job. I am actually looking forward to my next card, i.e. Amex Blue Cash but I will wait for another 6 months.

Message 9 of 15
enharu
Super Contributor

Re: Chase Freedom approved now with a soft pull, should I proceed with CLI for other cards


@ratatouille22 wrote:

Some clarifications.


Been with BoA for 4 years and used to have a secured card with a CL of 2k. Similarly, 4 years with Citibank except Citi Forward is my first card with them. When I checked one of the reports (forget which one), it says zero inquiries but they might show up in other reports though as mentioned by someone above.

I was pre-approved for Chase Freedom and Slate after I signed up for Chase checking 7 months ago. In fact, I was also offered the United MileagePlus mainly because I have close to 100k miles with United but don't think I will get approved. The manager confirmed it was a soft pull and no questions or income were asked or verified during the process. Whole process took only 2 minutes in the bank branch.

I only plan to request for a CLI for my BoA and Citi card since they are 7 months old. Yet, since I don't need those extra CL (except that I need to pay my balance off more often to avoid exceeding the 25% utilization), I will wait till I get a job. I am actually looking forward to my next card, i.e. Amex Blue Cash but I will wait for another 6 months.


in your first post you mentioned you are a foreigner. You probably got the card because of your balances in your checking account.

It's kinda a "shortcut" for people who migrated over. However, there is usually a HP. If there isn't, even better I suppose.

 

It's best to wait until you land a job, then ask for a CLI. usually income is one of the questions they would ask.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 10 of 15
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