Reply
New Member
ratatouille22
Posts: 2
Registered: ‎07-24-2013
0

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

Established Contributor
JonStur
Posts: 905
Registered: ‎12-25-2010
0

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 686 EX 641 EQ 690
Current Score: TU 779 EX 767 EQ 740
Goal Score: 800 Club

BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
Frequent Contributor
OptimalCS
Posts: 405
Registered: ‎07-31-2010
0

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

Saw congrats!

Go for it!

CARDS.jpg

Valued Contributor
navigatethis12
Posts: 1,941
Registered: ‎01-24-2012
0

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?

Contributor
kilj0y
Posts: 135
Registered: ‎05-25-2013
0

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?




Starting Score: 693
Current Score: 701EQ MyFico 725TU(NFCU pulled)
Goal Score: 720


Take the myFICO Fitness Challenge


Joined the Garden Club 6/1/13
Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
0

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 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
Regular Contributor
Jasir
Posts: 244
Registered: ‎04-05-2013
0

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: $6000 - Bank of America Cash Rewards: $5000 - Bank of America Better Balance: $1000 - Barclaycard Rewards: $3350 - Capital One Quicksilver: $5000 - Chase Freedom: $1700 - Discover IT: $1200 - Walmart Store: $800
Moderator
09Lexie
Posts: 25,954
Registered: ‎09-13-2012
0

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.
New Member
ratatouille22
Posts: 2
Registered: ‎07-24-2013
0

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.

Super Contributor
enharu
Posts: 7,002
Registered: ‎02-27-2013
0

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).

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}