I am new to the forums and this is my 2nd post. I've gotten so much info from reading the posts and I am hoping I can get some advice about the direction I should go prior to slowing down this spring. So basically I am asking what are my chances for being approved for at least one new line of credit given my current situation. I would like to try for the chase freedom card. I applied for the BofA card last april and was denied. At the time I wasn't reading for forums so I didn't even know that I could try for reconsideration.
1. just got a new car loan for $20k on 2/28
2. chase slate card cli from $6100 to $7500 this feb. (balance $3k)
3. discover card $4300 (balance $300)
most current score is a lender pull ( for the car loan) 677 (experian)
the AAoA is about 6 years and I have about 8 late payments on my accounts ( all from student loans). Last one was from 2.5 years ago, everything is current and up to date from that point. My credit report is totally clean for the last 2+ years. My thought is that hopeully I could get all the new credit that I need out of the way now and the increase in credit could decrease my utilization ratio.
anyway - your imput would be greatly appreciated, as well as any suggestions of how to bring that fico score up.
Many thanks in advance!!!
With 8 late payments, I imagine you'd have a hard time getting approved for a Chase Freedom.
I was approved on Saturday morning for a chase freedom with a 640 score. I had to call and call back. They opened me with a low $500 cl but I've got my foot in the door
I was just about to post this
if you already have banking relationship with chase, and there's been no issues thus far, and you have always made MORE than just the minimum amount required, go ahead and apply. You should have a decent chance.
At least they let you in the door, they straight up told me to come back when I have at least a year of credit history. But, who cares, got two amex in the past 2 months, Im happy!
after you feel after getting a successful recon.
I was hoping that my current relationship with chase would help, however, I am not sure how much they factor that kind of thing into new applications. Honestly, I am a little gun shy about apps right now. If my score doesnt take too much of hit from my car loan this month, I'll probably apply in april.
Thanks for all the comments and encouragement -