Credit Cards Center Credit cards from our partners
Reply
Frequent Contributor
Posts: 470
Registered: ‎08-14-2012
0

Re: when should I apply for freedom?

During a recon, you have to take the reigns and not them. You have to tell that you felt your recent history reflects that you have good payment history and that adding this card and with chase being a great bank it would complete your credit portfolio... so on. Schmooz them up, but keep pointing out your responsibility with your current credit.

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Established Contributor
Posts: 710
Registered: ‎06-01-2012
0

Re: when should I apply for freedom?

thanks, Im a little new to this. That and Im usually over polite to where I get walked on haha

 

I'll call after work and let you guys know how it goes! thanks for all of the help

 

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
0

Re: when should I apply for freedom? Update... I applied

I reconned twice to get my Chase Freedom w a $5k limit AND the second CA even mentioned my first call. You have to be confident, yet nice, when talking to these folks. Explain thoroughly to them what your credit goals are. You have nothing to lose since you already took the HP. Best of luck!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
Posts: 710
Registered: ‎06-01-2012
0

Re: when should I apply for freedom? Update... I applied

thanks, I will mention that. what did your credit profile look like if you dont mind me asking? Im just scared they are going to be rude and call me out on my 2 old charge offs, even though they are paid. She said they wanted to see more unsecured payment history before they extend another unsecured line... but arent my student loans considered unsecured? I have 7 years of clean history on two of those. Maybe that'll help. Ahhh, I dont know why I get so nervous about it.

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
0

Re: when should I apply for freedom? Update... I applied

Wow! I haven't even began paying my $30k+ in student loans! Lol

Student loans are a unique breed of credit.
I'd say they are more secured in that you CANNOT discharge them in BK for the most part AND you can get your wages garnish/Social Security benefits taken, etc. if you don't pay.
They are actual "installment loan" history, but still higher credit quality than credit cards.

You likely need "revolving loan" credit history.
At the time of approval, I had a 649 score on Chase's scoring system, one PD CO from 07 ( stupid $280 TXU bill my mom opened before I was 18).
Also had a collection from Midland Credit (now removed) AND from Credit Mgmt Control (now removed) BUT my HH income is like $100k+.

How many cards do you have?

I had 10+ cards w a util of like 15% when they approved on the second recon.

Don't waste inquiries though... I'd try for a GECRB store card if you haven't already.
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
0

Re: when should I apply for freedom? Update... I applied

I hope you get the Freedom soon or youre gonna miss the 5% CB on gas/restaurants!!! Lol ends 9-30-12!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
Posts: 710
Registered: ‎06-01-2012
0

Re: when should I apply for freedom? Update... I applied


youngandcreditwrthy wrote:
Wow! I haven't even began paying my $30k+ in student loans! Lol

Student loans are a unique breed of credit.
I'd say they are more secured in that you CANNOT discharge them in BK for the most part AND you can get your wages garnish/Social Security benefits taken, etc. if you don't pay.
They are actual "installment loan" history, but still higher credit quality than credit cards.

You likely need "revolving loan" credit history.
At the time of approval, I had a 649 score on Chase's scoring system, one PD CO from 07 ( stupid $280 TXU bill my mom opened before I was 18).
Also had a collection from Midland Credit (now removed) AND from Credit Mgmt Control (now removed) BUT my HH income is like $100k+.

How many cards do you have?

I had 10+ cards w a util of like 15% when they approved on the second recon.

Don't waste inquiries though... I'd try for a GECRB store card if you haven't already.

Well, I only took out 10k in student loans over 4 years. that helped, but I also didnt go into a job making $100k+ lol Im happy to get 50-60k lol and am only salaried at 30k.

My cards are in my sig. Im sure they want to see more history. She said to wait 3 months until my card hits the one year mark, but I mean, I havent had a late reported in 4 years... you think im gonna let one hit in three months?!?!!? lol

 

I understand their reasoning. I'll try one more time. Then call it a day. Like I said, Im happy with what I have. My charter one will grow with me, my kay provided a service/benefit to me with no AF, and my WM card will be a very useful store card. I just wanted to be done with my credit for a bit. Little more to go still Smiley Happy

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
0

Re: when should I apply for freedom? Update... I applied

It's odd to me that they don't value the fact that you've been paying your student loans more than your short revolving history.
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
Posts: 710
Registered: ‎06-01-2012
0

Re: when should I apply for freedom? Update... I applied

That's what I thought. Mentioned that on my second recon attempt and APPROVED! That means my past 3 credit apps were all a success and now I can just watch em grow with me and cut up the secured pnc card!! I have 2 prime and 2 store. I'm ok with that
In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Established Contributor
Posts: 912
Registered: ‎06-14-2012
0

Re: when should I apply for freedom? Update... I applied

thats awesome, Congrats! it always helps to recon...and then recon again lol. you will really enjoy that card.



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 Smiley Wink
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.