topic Re: Chase Freedom Unlimited in Credit Card Applications

Chase Freedom Unlimited

Anonymous — Fri, 30 Nov 2018 02:56:17 GMT

I'm considering applying for the Chase Freedom Unlimited... I'm relatively new to credit, I started my journey eight-ish months ago opening a secured card with my credit union, then got a Discover secured, then Amazon Store Card, then Capital One Journey... All paid in full every month with less than 10% utilization most months. My FICO score is 723 according to the Discover website.

Should I apply or am I crazy and my credit history is too short?

I know y'all cant give me a definite answer on whether or not they'll approve me but couldn't think of anyone better to ask.

Thanks in advance!

Re: Chase Freedom Unlimited

iheartwings — Fri, 30 Nov 2018 02:58:26 GMT

It seems that Chase likes applicants to have a history of a least a year, more or less.

I'd give it more time if I were you.

Re: Chase Freedom Unlimited

AverageJoesCredit — Fri, 30 Nov 2018 12:08:37 GMT

More time

Re: Chase Freedom Unlimited

HeavenOhio — Fri, 30 Nov 2018 12:20:30 GMT

Yeah, wait until your oldest card is a year old. That improves your approval odds from lousy to excellent. Waiting will also age your newest card, which is always helpful with Chase.

Also keep 5/24 in mind. When you've acquired five or more cards within the past 24 months, Chase will likely deny. Right now, you're at 4/24, giving you exactly one slot for a Chase card for the time being.

I'm a fan of one card every six months. That keeps you under 5/24 all the time. You've worked faster than that, but that's OK. Simply slowing down to that pace will eventually bring you back under 5/24 and keep you there.

As a side note, be aware that "under 10%" actually means 8.9% or below. Your "look" is fine if you're over 8.9% but still under 28.9%. But there'll still be some points on the table. If you feel you need to grab a few more points, you'll know where to get them.

Re: Chase Freedom Unlimited

FinStar — Fri, 30 Nov 2018 18:06:36 GMT

Well, since it appears that the OP already applied then any correspondence they receive will provide the outcome of the application.

OP, if the automated line yields a 7-10 message then potentially it was declined unless they request additional information for further processing.

Re: Chase Freedom Unlimited

RonM21 — Fri, 30 Nov 2018 18:15:30 GMT

Wondering the outcome if the Op did apply ????

Re: Chase Freedom Unlimited

sjt — Sat, 01 Dec 2018 03:36:19 GMT

@Anonymous wrote:
I'm considering applying for the Chase Freedom Unlimited... I'm relatively new to credit, I started my journey eight-ish months ago opening a secured card with my credit union, then got a Discover secured, then Amazon Store Card, then Capital One Journey... All paid in full every month with less than 10% utilization most months. My FICO score is 723 according to the Discover website.
Should I apply or am I crazy and my credit history is too short?
I know y'all cant give me a definite answer on whether or not they'll approve me but couldn't think of anyone better to ask.
Thanks in advance!

Have you checked the Chase pre qual site?

Re: Chase Freedom Unlimited

Anonymous — Sat, 01 Dec 2018 09:16:11 GMT

I know others are saying Chase likes applicants with at least a years history, am I'm sure they do look for that. But, in my experience with Chase: I was able to get approved for their Ritz Carlton Rewards Visa Infinite Card (which has now been replaced with The Marriott Rewards Premier Plus Credit Card) and got a pretty sizable starting limit at $10,000. This was with only about 8 months of credit history. I had four installment loans at this time. I do believe Chase uses a situational basis for approval, looking for responsible use of credit thus-far.

Re: Chase Freedom Unlimited

NRB525 — Sat, 01 Dec 2018 10:20:15 GMT

@FinStar wrote:
Well, since it appears that the OP already applied then any correspondence they receive will provide the outcome of the application.

OP, if the automated line yields a 7-10 message then potentially it was declined unless they request additional information for further processing.

The other thread seems to indicate 7-10.

OP, you have some basic cards to work with, my suggestion is to see where this app goes, stop apping any other cards. Hopefully you get the Freedom Unlimited, it is a good base card at Chase. Keeping those 5/24 slots open will be important, as you may want to add other Chase cards and they seem to be expanding the list of cards subject to 5/24.

Good luck.

Re: Chase Freedom Unlimited

HeavenOhio — Sat, 01 Dec 2018 19:52:16 GMT

@Anonymous wrote:
I know others are saying Chase likes applicants with at least a years history, am I'm sure they do look for that. But, in my experience with Chase: I was able to get approved for their Ritz Carlton Rewards Visa Infinite Card (which has now been replaced with The Marriott Rewards Premier Plus Credit Card) and got a pretty sizable starting limit at $10,000. This was with only about 8 months of credit history. I had four installment loans at this time. I do believe Chase uses a situational basis for approval, looking for responsible use of credit thus-far.

We've also seen people get a Chase card with nothing on their reports at all. I think your loans probably worked for you. But we don't have the data points that we can use to suggest that someone might be an exception. For that reason, we have to give advice based on the general population.

Re: Chase Freedom Unlimited

Anonymous — Mon, 03 Dec 2018 02:54:08 GMT

Hi there! So sorry I forgot to update here until now.

Yes, I applied (because I'm impatient and don't know how to take advice apparently), but they said they would make a decision in 7-10 days or something like that. I definitely should have waited, but it was late at night and I got excited I guess. Hopefully, I will get it and if I don't then I'll just hold out for a little longer and try again in a few months. I'm sorry I asked for advice and then just ignored it like an idiot, but thank you all so much!

Re: Chase Freedom Unlimited

AverageJoesCredit — Mon, 03 Dec 2018 12:11:19 GMT

Its ok, you wouldnt be the DeadPool if you didnt

Re: Chase Freedom Unlimited

sjt — Mon, 03 Dec 2018 15:10:20 GMT

Call the verification number and get the status.

Keep us posted.

Re: Chase Freedom Unlimited

Anonymous — Tue, 04 Dec 2018 04:16:04 GMT

I just called, it's still being reviewed. Says they will notify me in writing in 7-10 business days.

Re: Chase Freedom Unlimited

Anonymous — Tue, 04 Dec 2018 17:42:10 GMT

Have you called backdoor? Could be verification as well. Rooting for you OP!

Re: Chase Freedom Unlimited

Anonymous — Wed, 05 Dec 2018 00:38:20 GMT

I got a rejection letter today, their reasons being too many recent requests for credit or reviews of my credit, length of time since oldest credit card was opened is too short, and the average age of credit cards reported is too short.

Oh well, I'll try again in a few months.

Re: Chase Freedom Unlimited

sjt — Wed, 05 Dec 2018 00:47:55 GMT

@Anonymous wrote:
I got a rejection letter today, their reasons being too many recent requests for credit or reviews of my credit, length of time since oldest credit card was opened is too short, and the average age of credit cards reported is too short.
Oh well, I'll try again in a few months.

I would call and recon (doesnt hurt as they already pulled credit) Just be prepared to explain everything on your credit report. If the answer is still no, ask what you can do to improve your chances of a future approval.