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Frequent Contributor
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Registered: ‎02-01-2012
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Re: Starting out with Chase?


dhon55 wrote:

I would be very tempted to apply and let you all know my results(!)... but I also just realized that in addition to my limited history and recent inquiries/accounts, my Wells Fargo card is also at about 56% util.

 

It was paid off, but of course the statement had just ended the day after my big purchase.  So it appears to the creditors that I haven't paid it off, right?  (Since the balance reported, even though I paid it off before the due date)... so I'll probably have to wait until the February statement comes with a $0 balance.  :smileysad:


I would wait for that $0 balance to report as that would probably send up a red flag. So in the mean time we must sit and wait...

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Registered: ‎12-30-2011
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Re: Starting out with Chase?

[ Edited ]

CreditWorld2013 wrote:

jake619 wrote:

Revelate wrote:

Freedom is the easiest card these days to obtain from Chase.

 


Easier than Slate?


I would think the criteria goes 

1) Chase Slate (common for small initial limits) 

2) Chase Amazon or Freedom 

3) Chase Freedom or Amazon 

 

I think the Freedom card is probably harder than the Amazon card but some get denied/approved on both so I think it just depends on each case. 


I think that's outdated, pre-June 2012 if you look at the approval threads from that timeframe forward at least for minimum FICO.

 

1) Freedom  640

2) Amazon/Slate 660ish

3) CSP 680+

 

About all the cards have the standard Chase minimum underwriting requirement of 1 year revolving history (with some exceptions, long-term account holders and possibly students), my own recon with Chase with the Freedom was straight-forward and easy, all I really did was point out the last year of payment history and that I had a checking account with them, and the rep came back something like 30 seconds later and told me I'd been approved.  Unless there was a hard wall hit for student underwriting, I'm pretty certain I could sell the short-history with Chase's current recon policy which I don't know if we've ever seen before or will see again honestly.

 

Anyone who's read this forum a non-trivial amount knows my own credit report is anything but pretty :smileyhappy:.  Much as Open123 pontificated almost a year ago, even though the signup bonuses aren't the same, it's still a good time to be seeking credit.

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Registered: ‎09-15-2012
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Re: Starting out with Chase?

[ Edited ]

The Determinator™, every credit card company's worst nightmare. 

 

Anyway, OP - try to get that Util down to 1-9% for the next statement cut. I don't think $0 is necessary, just close to it.

 


In My Wallet: Amex BCP (12/12) $32,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600

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Re: Starting out with Chase?

The slate is harder to get the whole Idea behind the card is for chase to take on debt thus more risk

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Re: Starting out with Chase?

[ Edited ]

dodgeball wrote:

The slate is harder to get the whole Idea behind the card is for chase to take on debt thus more risk


One can see it as that. BUT they also give many lower inital limits so in a sense they give out to more customers as the financial risk isn't as damaging in terms of a financial loss and if they turn out to be good customers...it is a double positive. So it is a double sword to only assume the balance transfers result in the criteria. If we look at Citi they always offer long term balance transfers and approve those cards quite often as well. Each bank has a specific target in mind and no one will ever be 100% as to which one is easier or harder. 

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Registered: ‎12-19-2012
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Re: Starting out with Chase?

Haha! "The Determinator!..." Can't quote because I am on my phone.

Definitely pay down the balance. Chase was barking also at the 28% UTIL that I had. I told them I pay in full every month and that is the new balance. CSR said, well we don't know that, so at this time, we can only give you $1,000. :-|
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
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Registered: ‎09-11-2012
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Re: Starting out with Chase?


MovingForward_2012 wrote:
Haha! "The Determinator!..." Can't quote because I am on my phone.

Definitely pay down the balance. Chase was barking also at the 28% UTIL that I had. I told them I pay in full every month and that is the new balance. CSR said, well we don't know that, so at this time, we can only give you $1,000. :-|

Yup, Chase likes to bark at UTIL.. When I got the Freedom, I told them I want to take advantage of 0% transfer, and they gave me CLI. :smileyvery-happy:

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%
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Re: Starting out with Chase?


dhon55 wrote:

Thanks for the feedback, all.  I don't consider myself a risk taker, but have gotten a bit more "risky" in recent apping. :smileyvery-happy:  I think I'll sleep on it and may apply tomorrow.

 

Also, the mailer I received from them, I don't think it's a pre-qualified offer or anything, though they must've screened me somehow, but it does have an invitation code to apply, but I don't think it's anything legit--particularly with my recently added accounts and inquiries.  Edit:  Creditworld, I checked out the pre-qualifier link, but got the message: 

"We are unable to locate any special credit card offers for you at this time. "

 

Sidenote:

Freedom is easier than the Amazon Chase card?  I would've thought the opposite, though I have no real knowledge of Chase.  I do shop on Amazon a lot, but it seems that Fredom has better overall rewards...  I just hate the minimum amounts for redemption. :smileymad:


dhon55...it's good to know that now Chase will let you use your UR points for amazon purchases 1 to 1 with no miminim!! Freedom would be great to use for the 5x rotating categories and applied to your amazon purchases since you do shop a lot with them!

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Contributor
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Re: Starting out with Chase?

I just wanted to update everyone... now that all my accounts have reported a $0 balance, I took the plunge and applied for the Chase Amazon Visa.  I decided I use Amazon far more than any other store really, so it outweighed the Freedom's perks for me, for now anyway.

 

But to my utter shock, I was instantly approved for $1.5k :smileyvery-happy:!

 

Thanks for the info here!


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Re: Starting out with Chase?

Oh yay!   Congrats!!! I was just researching your thread for my own 1st plunge with Chase :smileywink:


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