topic Re: Chase Amazon Prime Card or Chase Freedom? in Credit Card Applications

Chase Amazon Prime Card or Chase Freedom?

Anonymous — Wed, 11 Mar 2020 07:30:50 GMT

Hi, I'm new to credit and have been trying my best to educate myself and staying updated with my scores. I am struggling to decide between the 2 above cards mostly because of my credit profile, and I'd hate to be denied for either. Could anyone give me advice on which is the best to go for, based on my profile?

-Age: 19 (as of March)

-Average History: 8 months

-Scores: TU: 712 EQ: 715 EX: 709

-Inq: TU:5 EQ:4 EX: 4

-Average UTL: 15%

-Income: $24k - $25k

-Cap1 Secured Plat: $500, Petal Visa: $750, Apple Card: $250, Fingerhut: $400

-My most recent card is the Apple Card when it was first released maybe 6 months back.

I am enrolled in online college so I can work full time, so that's as good as my income will get until I get another raise. My only expenses are my phone billl, money I give my mom for rent (500), video games, and food. I'm a very frequent Amazon shopper, as well as prime member, so the 5% cash back would be useful to me, but the reviews are good and bad so I'm a bit hesitant. As for the Chase Freedom, the benefits are also appealing, plus getting into the chase ecosystem would be beneficial for future card upgrades. But I'm not sure if my limited history and low income can get me there. Any advice? Or should I look elsewhere?

-Although I have a some inquiries I am interested in getting a new card in hopes of higher limits maybe, as well as to hit that 5 account threshold. Should I hold out or not?

Please Help, Thank you!

Re: Chase Amazon Prime Card or Chase Freedom?

ZackAttack — Wed, 11 Mar 2020 08:30:46 GMT

Seeing how you are in college (as am I). I would do a smart strategy and see first how much CL they will give you. If I were you I would apply for the Chase Student Card that 1% and can be PC over to another card. With that Student Card, you will see what the account gets first followed by a CLI on the first 10 months if 5 of them are meet with PIF. By 6 months come around, you should be able to see where Chase would stand you if you did attempt another Chase, like the Chase Amazon.

Note: Applying for a Chase Student Card means walking into a branch.

Re: Chase Amazon Prime Card or Chase Freedom?

Anonymous — Wed, 11 Mar 2020 08:33:38 GMT

Thanks, I really appreciate the response. I'll surely look into that!

Re: Chase Amazon Prime Card or Chase Freedom?

ZackAttack — Wed, 11 Mar 2020 09:03:48 GMT

@Anonymous wrote:
Thanks, I really appreciate the response. I'll surely look into that!

Yeah, I am locked until June to try again. In the meantime, I have a College checking and savings with them and throwing 15% of my paycheck into my checking account over there.

Re: Chase Amazon Prime Card or Chase Freedom?

Anonymous — Wed, 11 Mar 2020 09:07:22 GMT

I also see you have the Discover student cash back? Was it hard to acquire? I fear they'll deny me due to my inquiries.😬

Re: Chase Amazon Prime Card or Chase Freedom?

ZackAttack — Wed, 11 Mar 2020 09:10:57 GMT

@Anonymous wrote:
I also see you have the Discover student cash back? Was it hard to acquire? I fear they'll deny me due to my inquiries.😬

I kept on poking the prequal tool. The prequal tool pokes equifax student cards on where I was at. At the time I only had $5,773 for income where they approved me and grown while Capital One is complete trash at the moment for helping students.

All it took was one application. After 4 statements, manual approval for 1.2k CLI, after 6 statement auto CLI of $600 ... now it is stuck but I still keep on poking.

Re: Chase Amazon Prime Card or Chase Freedom?

Anonymous — Wed, 11 Mar 2020 09:15:07 GMT

Wow thats pretty good. Think I've got any chances? Or should I stick with one of my initial options. I cant do the Chase student because you have to go to a Branch.

Re: Chase Amazon Prime Card or Chase Freedom?

ZackAttack — Wed, 11 Mar 2020 09:16:58 GMT

@Anonymous wrote:
Wow thats pretty good. Think I've got any chances? Or should I stick with one of my initial options. I cant do the Chase student because you have to go to a Branch.

RIP on card. I would see if Discover would give you a try. Discover's prequal is solid on whether to know you might be able to have a chance.

Re: Chase Amazon Prime Card or Chase Freedom?

Anonymous — Wed, 11 Mar 2020 09:20:49 GMT

They hit me with a big fat no offer available. Smh I even have a savings AND an IRA, maybe they think I'm lying

Re: Chase Amazon Prime Card or Chase Freedom?

KLEXH25 — Wed, 11 Mar 2020 12:48:08 GMT

How old is each card? I would recommend waiting another 6 months until your youngest card is one year old. The offers and limits should open up by then.

Re: Chase Amazon Prime Card or Chase Freedom?

seattletravels — Wed, 11 Mar 2020 13:50:13 GMT

@Anonymous wrote:
They hit me with a big fat no offer available. Smh I even have a savings AND an IRA, maybe they think I'm lying

With your scores and all cards being >6 months, I'd try for the Discover. The prequal being solid means that if you have an offer listed, you're likely to be approved. It doesn't mean you won't be approved unless you have an offer. People with 0 credit history get approved for Discover student.

Re: Chase Amazon Prime Card or Chase Freedom?

Anonymous — Wed, 11 Mar 2020 17:07:08 GMT

My oldest card is 9 months, second is 8, then another 8, and fingerhut is 6

Re: Chase Amazon Prime Card or Chase Freedom?

Anonymous — Wed, 11 Mar 2020 17:09:25 GMT

@seattletravels would I have a shot with my inquiries? I hear discover has a dislike to those.

Re: Chase Amazon Prime Card or Chase Freedom?

Anonymous — Wed, 11 Mar 2020 19:51:23 GMT

It would depend on what you intend to use the card for. If you get the Amazon Prime Card you will get 5% cash back on Amazon purchases and the points will load right onto your profile. As a student you can also get discounted Amazon Prime for $6.99/month, which will be bill automatically to your card if you choose. This can give you a small monthly purchase and improve your score by only having a $7 balance each month IF you are only using it to build credit and not using it for other expenses.

As a store card the interest rate isn't great for the Amazon card so if you intend to carry a balance the Chase Freedom Card MAY give you a better rate, but you are still pretty new to credit so it may not be by much.

For me it would boil down to how often are you going to purchase from Amazon and will you pay off your balance each month. If the answer is often and yes, I would go with the Amazon card, if not often and you may carry a balance, go with the Freedom.

Re: Chase Amazon Prime Card or Chase Freedom?

Anonymous — Wed, 11 Mar 2020 20:01:04 GMT

I currently spend between 100-200 a month on Amazon using debit, so I don't think carrying a balance is going to be an issue. And I do have the student amazon prime so I would be gaining in terms of paying for a membership. Just like to lean towards what would be best for improving my credit and be a good long term card for credit history.

Re: Chase Amazon Prime Card or Chase Freedom?

ZackAttack — Wed, 11 Mar 2020 21:54:49 GMT

@Anonymous wrote:
My oldest card is 9 months, second is 8, then another 8, and fingerhut is 6

Seeing how the ages of those accounts are young here is my advice. Seeing how there are prequal offers on Discover I would wait for another 3 months for your oldest card to report 1 year old and your youngest card to report 9 months old. With that on you credit report and keeping ULT low, you may have a shot on the prequal tool. If there is nothing on the prequal you can always attempt a cold apply for the card.

If you still not interested in Discover and want to get in with chase first because of having 4 accounts within 2 years, I would wait until your last card has hit 1 year with all accounts as low ULT. When that comes, it is your choice if you want to apply for the Amazon Card or Freedom Card.

While I didn't see it earlier, Chase does have a 5/24. 5 new credit/store card in 24 months. If you do reach 5 accounts, you could be denied for a card from them until account ages out of 24 months.

Re: Chase Amazon Prime Card or Chase Freedom?

Anonymous — Wed, 11 Mar 2020 23:18:34 GMT

That's where I'm iffy with which to do first. I guess I'm going to wait till my oldest hits one year then check the pre-quads, if none. Then keep waiting.