topic Re: Chase Freedom Approved w/ Poor Credit :) in Credit Card Approvals

Chase Freedom Approved w/ Poor Credit :)

Anonymous — Wed, 31 Aug 2016 01:47:56 GMT

Got approved for my first credit card w/ TU and equifax score of 580!! Credit limit is 1,500, which I'm still shocked at honestly. Everything online told me I should start w/ a secured card or captiol one and I would have a cl of 500 at most. I have a student loan that had multiple late payments 1 year and a half ago, but has been payed on time since then. I checked the prequalified offer on chase wesbite and was really suprised I qualified for slate/freedom. I decided to just go for it and got an instant approval.Ive been a long time chase checking account holder though so maybe that helped. Anyways Im really excited to building up my credit w/ my first ever credit card!

Re: Chase Freedom Approved w/ Poor Credit :)

Anonymous — Wed, 31 Aug 2016 02:01:21 GMT

Congrats! Good luck on the rebuilding! Just make your payments on time with a healthy usage on the card will increase your score and help you with credit limit increases in the future!

Re: Chase Freedom Approved w/ Poor Credit :)

Anonymous — Wed, 31 Aug 2016 02:02:13 GMT

Yay! So excited for you! Congrats 🎉

Re: Chase Freedom Approved w/ Poor Credit :)

Anonymous — Wed, 31 Aug 2016 19:53:04 GMT

That's great news. I would use that card exclusively. You may even score an increase. Can't speak for everyone, but I think that some of the disappointment of chase increases is people are spreading out spend. You have a loan and a freedom, no need subprimes

Re: Chase Freedom Approved w/ Poor Credit :)

SunriseEarth — Wed, 31 Aug 2016 19:58:19 GMT

Congrats on approval! I wish I had applied for Freedom instead of Sony Card back in the day. Now, who knows when I'll actually meet the 5/24 rule?

Re: Chase Freedom Approved w/ Poor Credit :)

Anonymous — Wed, 31 Aug 2016 20:12:42 GMT

ty to everyone for your advice and congrats! Im definitely going to stick to one credt card for now. Im new to credit cards and scores, so main focus is to improve my score to the point that I can start thinking about buying/leasing a new car in a year or so. Ill post my progress as i go along, fingers crossed.

Re: Chase Freedom Approved w/ Poor Credit :)

Anonymous — Thu, 01 Sep 2016 01:29:54 GMT

congrats on your approval !!! Chase is amazing I love them. Treat them right and they will return the favor. They love to see a lot of spend and PIF. However, I have carried a balance during intro apr period and received a CLI on that card when I paid it off. Enjoy your new card.

Re: Chase Freedom Approved w/ Poor Credit :)

Anonymous — Thu, 01 Sep 2016 01:53:55 GMT

@NobleFunk Sorry noob question what is PIF?

Re: Chase Freedom Approved w/ Poor Credit :)

Anonymous — Thu, 01 Sep 2016 01:57:26 GMT

wow this is unheard of. any more data points you can share about your profile?

Re: Chase Freedom Approved w/ Poor Credit :)

Anonymous — Thu, 01 Sep 2016 02:05:07 GMT

That's a great limit for your score and a great credit building card. I also think the OG Freedom is the way to go. Congrats!

Re: Chase Freedom Approved w/ Poor Credit :)

althes — Thu, 01 Sep 2016 02:09:00 GMT

Congrats, this is about 10 people with scores under 600 that have gotten Chase cards.

Re: Chase Freedom Approved w/ Poor Credit :)

Anonymous — Thu, 01 Sep 2016 03:40:18 GMT

@Anonymous wrote:
@Anonymous Sorry noob question what is PIF?

PIF = paid in full

Welcome to the forums by the way !!! below is a link for abbreviated terms, you will see a lot of them used.

http://ficoforums.myfico.com/t5/Credit-Cards/Updated-Abbreviation-List/m-p/4534572#M1309056

Re: Chase Freedom Approved w/ Poor Credit :)

Anonymous — Thu, 01 Sep 2016 04:28:23 GMT

@NoBlefunk thanks, ill keep that link handy.

@lowkeyjimmy Income is 35,000(partime), I have 3,500 on my student loan and its 3 years old. No other accounts or negative marks. No hard inquiries. I've been paying my student loan well above the minimum payment for the past 1.5 years.(Five late payments before that). Honestly I didnt know how lucky I was till I started reading about other people's experiences w/ freedom card. I think its a mixture of luck and the fact that Ive had a chase checking account for like 5 years.