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Odds of approval? Chase Freedom/United Plus Mileage Explorer

Established Contributor

Re: Odds of approval? Chase Freedom/United Plus Mileage Explorer

guys, he was preapproved for the venture one on the cap 1 site (not the venture). This ISNT a rebuilder card and it ISNT (or doesn't have to be) a visa signature. He is also going to be travelling overseas. A GE backed card is still going to have FTFs. Even if he only gets a low limit, he will have a rewards card he can use overseas without the FTFs negating the value of the rewards.

OP: I would apply for the cap 1 card through the preapproval site, and you might as well do it today. Your scores are likely to drop once your freedom reports. 

In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Community Leader
Valued Contributor

Re: Odds of approval? Chase Freedom/United Plus Mileage Explorer


Cdnewmanpac wrote:

guys, he was preapproved for the venture one on the cap 1 site (not the venture). This ISNT a rebuilder card and it ISNT (or doesn't have to be) a visa signature. He is also going to be travelling overseas. A GE backed card is still going to have FTFs. Even if he only gets a low limit, he will have a rewards card he can use overseas without the FTFs negating the value of the rewards.

OP: I would apply for the cap 1 card through the preapproval site, and you might as well do it today. Your scores are likely to drop once your freedom reports. 


Congrats OP!  WTG!  The Venture card is one of their Prime cards.  If you check the approval criteria on their website you will see what it takes by their standards to be approved for this card.  Being that OP was barely approved for the Freedom, it is my humble opinion that the app will likely result in a denial.  I think the best odds at approval with those scores and thin file is the Zync.  I give that a 50/50 with limited CC experience. BTW- app the Zync tonight and get the HP out of the way.  At least this way you will know what you need to do to acquire this card.  If not approved, app again in 6mos. of the Freedom reporting. Best of Luck to OP and again, Congrats!!!  I also agree with @ jamesdwi's assessment too.  Smiley Happy


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Super Contributor

Re: Odds of approval? Chase Freedom/United Plus Mileage Explorer

If you dont qualify for a cap1 visa sig they just bump you down to a platinum.


New Member

Re: Odds of approval? Chase Freedom/United Plus Mileage Explorer

Thanks again for everyone's advice and help!  I apped the AmEx Zync today and was instantly approved Smiley Happy  Much more of an enjoyable experience than the Chase Freedom app. Can't wait to thicken my file up (in a good way, of course)!

Valued Contributor

Re: Odds of approval? Chase Freedom/United Plus Mileage Explorer

 


Whitewater08 wrote:

Hey guys,

So I applied for the Freedom this morning and got the dreaded "Your application needs further review" message.  When I called the backdoor number, the service rep said my application was denied due to low available credit and balances over the limit because of my student loans.  I explained to her that I have never had a late or missed payment in 6 years of my loans and that some of them where with Chase.  She said she would reconsider, asked me a few questions about my employment and address and approved me for a low $1000 limit to start off with.  It is a start, so I am happy that I have an adult credit card now Smiley Happy

How long should I wait to apply for a Cap1 or AmEx Zync card?

Thanks!


OP, may I ask about your student loans?  I am in a similar situation with current balances over their "limit", and I am hoping to apply for the Freedom soon.  

 

If you have this information and are open to sharing it:

How many loans do you have reporting?  How many of those loans have current balances over the original loan amount?  What is the dollar amount of those "overages"?


Thanks!


In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Community Leader
Valued Contributor

Re: Odds of approval? Chase Freedom/United Plus Mileage Explorer


Whitewater08 wrote:

Thanks again for everyone's advice and help!  I apped the AmEx Zync today and was instantly approved Smiley Happy  Much more of an enjoyable experience than the Chase Freedom app. Can't wait to thicken my file up (in a good way, of course)!


SUPER CONGRATS!   I love that you got this card!   Hold off on the Cap One and let these cards age.  You are so set to get more prime in the very near future!   


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Highlighted
Moderator Emeritus

Re: Odds of approval? Chase Freedom/United Plus Mileage Explorer

I think he should get the cap 1 especially if he will be travelling overseas.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
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