topic Re: Chase Freedom in Credit Card Applications

Chase Freedom

OG_54 — Sun, 20 Mar 2016 12:31:20 GMT

I just applied for the chase freedom card got the wait 7 to 10 days i knew it was a verification(fraud alert) so i called a backdoor number 1(888) 245-0625 the person said it was just a verification. Now i must wait till monday to call the Verification line directly at 1(877) 470-9042. Chase had sent prequalify letters for the freedom and slate couple days ago i throw them out. I was in a chase branch a couple months ago dealing with my account i was told then that i was pre approved for the slate and freedom told em i didnt want either of them. Been thinking about it so decided to give it a shot. I will update monday when i get the news. I am thinking about going for the Discover it and or Amex BC on Monday what yall think.

UPDATE: Chase has done two hps 3/19-Experian 3/20-Equifax they better approve me

Re: Chase Freedom

Anonymous — Sat, 19 Mar 2016 17:29:02 GMT

Keep us posted on the result of the Freedom. As for the Discover and Amex BC, they are very good cards. But re-phrase your question about "what we think".

Why do you want this card? Only you know spending habits. Also, give a snapshot of your credit profile for best responses as the community does not have access to your profile but just going simply by what you say.

Re: Chase Freedom

OG_54 — Sat, 19 Mar 2016 17:40:55 GMT

Thank you I want to thicken my credit file. I make multiple payments a month to keep my balances at zero right now I below 10% utilization . I rarely go above 30% utilization. I have about 6 inquiries falling off the end of this month. I only have two capital one cards that I alternate. I have an auto loan. And 1 collection.

Re: Chase Freedom

Anonymous — Sat, 19 Mar 2016 17:50:57 GMT

@Paulfico wrote:
Thank you I want to thicken my credit file. I make multiple payments a month to keep my balances at zero right now I below 10% utilization . I rarely go above 30% utilization. I have about 6 inquiries falling off the end of this month. I only have two capital one cards that I alternate. I have an auto loan. And 1 collection.

Ok. What are the limits on the Capital One cards and how old is the collection?

Re: Chase Freedom

OG_54 — Sat, 19 Mar 2016 17:58:27 GMT

cap1 qs-1750 qs1-1500 collection is now 2 years old

Re: Chase Freedom

Anonymous — Sat, 19 Mar 2016 18:02:13 GMT

@Paulfico wrote:
cap1 qs-1750 qs1-1500 collection is now 2 years old

Ok.. Discover is a very good card. They are likely to pull EQ which I see is your lowest. You might get approved with Discover since your collection is somewhat new. With Amex, have you checked their website to see if you are pre-qualified?

Re: Chase Freedom

OG_54 — Sat, 19 Mar 2016 18:09:16 GMT

i did try the amex pre quailfy said couldnt find anything

Re: Chase Freedom

Anonymous — Sat, 19 Mar 2016 18:17:22 GMT

Ok.. What state are in? Tell me and I will check something quickly..

Re: Chase Freedom

OG_54 — Sat, 19 Mar 2016 18:30:58 GMT

Georgia

Re: Chase Freedom

Anonymous — Sat, 19 Mar 2016 18:42:13 GMT

@Paulfico wrote:
Georgia

How much is the collection and how old is your credit file?

Re: Chase Freedom

OG_54 — Sat, 19 Mar 2016 18:47:59 GMT

collection- 1500 aaoa- 1yr 11 months

Re: Chase Freedom

Anonymous — Sat, 19 Mar 2016 19:22:04 GMT

@Paulfico wrote:
collection- 1500 aaoa- 1yr 11 months

Ok. The collection is close to what your credit limtis are. I know you want to thicken your file but don't do it is haste. Here is what I'd do. Get the Chase Freedom and at least have it for 6 months showing responsible use then proceed with Discover or the Amex cards.

Based on your profile, you chances of a denial are very high unless you want to take a chance and don't care about the hardpulls. Another alternative option to look at is to cold app. for the Amex Delta as Amex is very loose abit with the underwriting for that particular card if you really want in with Amex and can't wait.

But if you can at least for for 6 months, then I suggest you do so.

Re: Chase Freedom

OG_54 — Sat, 19 Mar 2016 19:32:06 GMT

Thank you for your advice. I am not in a hurry i will wait the 6 months see how things go then. hopefullly i get approved for the freedom.

Re: Chase Freedom

OG_54 — Sat, 19 Mar 2016 19:33:09 GMT

Also what does the collection have to do with credit limits

Re: Chase Freedom

Anonymous — Sat, 19 Mar 2016 20:07:07 GMT

@Paulfico wrote:
Also what does the collection have to do with credit limits

It depends on what type of collection it is. Was the collection on a credit card? Banks use your current limits and info. on your credit file to approve you for a new card and this is determined by the algorithm the bank has when calculating risk about the applicant.

So you have 2 Capital One cards whose limits are between $1500 - $1800. Now depending on what limit Chase approves you at may help in future approvals hence the decision for you to wait a bit.

But a collection for $1,500, 2 cards about the same amount is a bit high risk when looking at it from the lenders perspective. So be very strategic about you thicken your file. Try to see if you can get the collection removed from your file.

Re: Chase Freedom

OG_54 — Sat, 19 Mar 2016 20:12:35 GMT

it wasnt for a credit card. for a student apartment

Re: Chase Freedom

Anonymous — Sat, 19 Mar 2016 20:53:23 GMT

@OG_54 wrote:
it wasnt for a credit card. for a student apartment

Ok. But it is still a negative that some lenders might not be willing to look pass. Some people have gotten Discover and Amex with baddies on their file but it is YMMV.

Re: Chase Freedom

OG_54 — Sat, 19 Mar 2016 21:05:41 GMT

thank you for all your help

Re: Chase Freedom

Anonymous — Sat, 19 Mar 2016 21:36:02 GMT

@OG_54 wrote:
thank you for all your help

You are welcome. Just give it sometime and the puzzles will fit together. In the meantime, update the thread on results with the Chase Freedom.

Re: Chase Freedom

ddemari — Mon, 21 Mar 2016 00:22:34 GMT

also this is a ymmv thing but if you get denied for freedom, and apply and get approved for delta amex. I think in 6 months from now if you dont apply for anything else, you could have a great chance at freedom. this is just my take on it, but I think chase is likely to approve someone who is also doing their financial dealings with Amex.