topic Re: Help with Chase Freedom in Credit Card Applications

Help with Chase Freedom

Anonymous — Thu, 11 Jun 2015 05:38:41 GMT

It seems the Freedom card is Chase' entry level card. Does anyone know the current credit score needed or Bureau they pull from? I have no baddies in the last year 2 years and no more than 4 inquiries on any bureau. No collections and so far this year approved for everything Ive applied for due to scanning these boards. Any help would be appreciated.

Re: Help with Chase Freedom

Anonymous — Thu, 11 Jun 2015 05:48:03 GMT

They pulled TU and EX for me. As far as scores go I'm not sure. Check their pre qualify site and see if the Freedom comes up for you.

Re: Help with Chase Freedom

B335is — Thu, 11 Jun 2015 05:55:02 GMT

Usually EX pull for me. Sometimes EX and TU. chase is also known to pull TU if you're preapproved. I also suggested moving your thread to applications for better exposure.

Re: Help with Chase Freedom

Anonymous — Thu, 11 Jun 2015 06:54:39 GMT

They pulled strictly EX for me last week for my Slate 5500 CL approval. I was tempted to try CSP immediately afterwards, but didn't have the 🏈🏉. 😱😱

Re: Help with Chase Freedom

Santi78342 — Thu, 11 Jun 2015 07:06:40 GMT

If the scores in your sig are accurate, I say your chances are slim to none.

If you have opened 5 or more cards in the last two years, I say your chances are 0!

just my 2 cents!

Re: Help with Chase Freedom

Anonymous — Thu, 11 Jun 2015 13:46:27 GMT

What are your scores, I'm on a phone. Can't see them.

Re: Help with Chase Freedom

JSS3 — Thu, 11 Jun 2015 13:51:44 GMT

@Anonymous wrote:
What are your scores, I'm on a phone. Can't see them.

From the OP's sig:

Current Score: 5/9/2015 - EXP: 619 EQ: 621 TU: 650

Re: Help with Chase Freedom

Anonymous — Thu, 11 Jun 2015 13:58:11 GMT

I would garden a few more months. Mine are ex 671 eq 672 and tu 680, and I won't even app for chase yet.

Re: Help with Chase Freedom

Anonymous — Thu, 11 Jun 2015 14:35:32 GMT

Your FICOs are a bit low, but one thing that would help us answer your question a bit better would be if you could tell us what baddies you have on your credit reports.

Chase uses an internal score (even for new applicants) for their cards, and their internal score seems to weigh certain baddies a lot less heavily than FICO does.

Re: Help with Chase Freedom

Jerry45 — Thu, 11 Jun 2015 16:53:06 GMT

I Live in the Midwest, Chase pulled EX and TU for me.

Re: Help with Chase Freedom

Anonymous — Thu, 11 Jun 2015 17:02:42 GMT

Did you do a prequal on their website. That's what I'd do first.

Re: Help with Chase Freedom

TRC_WA — Thu, 11 Jun 2015 18:06:42 GMT

@Anonymous wrote:
Your FICOs are a bit low, but one thing that would help us answer your question a bit better would be if you could tell us what baddies you have on your credit reports.

Chase uses an internal score (even for new applicants) for their cards, and their internal score seems to weigh certain baddies a lot less heavily than FICO does.

Is that what it is?

I was denied for the Freedom back in Feb with scores in the 670's and 680's... citing too many INQs (bought car in January) and BK13 from 2009. I called to recon and the rep seemed OK with the INQs but wouldn't budge from the BK13... and I've never had a Chase card.

I requested a $500 Freedom to get in the door... nope... denied... despite the fact I have solid payment history on multiple $5-$10k cards since 2013.

Chase is just stubborn and that's fine... when everything from my BK13 falls off at the end of the year and my scores go well into the 700's I'm sure Chase will be throwing cards at me.

Re: Help with Chase Freedom

Anonymous — Thu, 11 Jun 2015 19:33:45 GMT

When I apped on 5.31 they pulled EQ, and my score was 704. The letter that came with the card cited their CARS score, though. It was 726.

Re: Help with Chase Freedom

Anonymous — Thu, 11 Jun 2015 19:51:43 GMT

I looked at the letters for both my Freedom and SWA and neither included a score with the card package. I would love to know what my internal score is with them so I know where I stand. Is that something they would tell me if I just called and asked? I wonder if their internal scoring doesn't weigh paid collections as heavily as FICO does...

Re: Help with Chase Freedom

Anonymous — Thu, 11 Jun 2015 21:51:20 GMT

@Anonymous wrote:
I looked at the letters for both my Freedom and SWA and neither included a score with the card package. I would love to know what my internal score is with them so I know where I stand. Is that something they would tell me if I just called and asked? I wonder if their internal scoring doesn't weigh paid collections as heavily as FICO does...

I have no idea how to acquire Chase's CARS (Card Acquisition Risk Score) score if it's not included on your approval letter. For me, it was included in my approval letter for my Freedom, my first card with Chase (however, it's not been included in any other Chase approal since). My EX FICO was in the 640s when I was approved for the Freedom (with a $7000 limit, no less!), but for some reason, my CARS score was 711 -- even though I had no prior banking relationship whatsoever with Chase.

However, my baddies are all late payments -- late payments on student loans specifically. If I had to venture a guess, I suspect Chase's CARS score doesn't weigh late payments on student loans very heavily (even twelve 120 day late payments). Ozix, another user on myFICO, has also had a lot of success with Chase even though he has low FICOS due to late student loan payments.

Re: Help with Chase Freedom

Anonymous — Fri, 12 Jun 2015 04:33:00 GMT

Sorry for the delay. Great advice. I am aware my scores are on the low side for CHASE right now. But they are the next bank I wish to get in with, so Im trying to do my homework now. As far as my baddies. THe only negative info on my reports are old STUDENT LOANS. Set to fall off 4/2016. So not too far away. By the time that date rolls around I will have less than 3 inquiries on all reports. Really wish I had taken care of those student loans before. Due to their old age, I an surprised NFCU refuses to give me any CLI because of them. So I wont even try for CHASE till those are taken care of.

Re: Help with Chase Freedom

Anonymous — Fri, 12 Jun 2015 05:18:28 GMT

Student loans, eh?

That is pretty interesting. I may sound like a maverick, but given that knowledge I would hazard a guess that you would be approved now for a Freedom, based on my experience as detailed in my above post.

But if you want to wait to maximize your chances, go for it.

I will say though, your FICO scores seem rather low for baddies that occurred over 6 years ago....

Re: Help with Chase Freedom

Anonymous — Fri, 12 Jun 2015 06:27:44 GMT

Not really. 6 federal loans all defaulted ( currently in REHAB though) And 3 private loans defaulted. Which is a total of 9. But yes all are more than 6 years old. Other than that, 5 CC worth about 10k unsecured. Paid off AUTO loans, Paid off personal loans. NEVER LATE on anything else. Util at about 15%. But always 0 by statement cut. By next year with all these loans taken care of Im expecting a significant boost! Wanna get in with CHASE and AMeX next year. Just order a ChexSystem report just to make sure Im clean on that system as well. But Freedom card will definately be my next card to apply for.