topic Re: Chase Credit History Requirements? in Credit Cards

Chase Credit History Requirements?

Anonymous — Sun, 08 Jul 2018 03:04:56 GMT

Hey all,

I'm fairly new to credit as I just turned 18, but I am super interested in getting my foot in the door with Chase. I am particularly interested in their Chase Freedom, Freedom Unlimited, and the Disney Rewards Visa cards.

I have a decent score (around 730 all bureaus), but I need to get my age of accounts up. I was wondering how much history Chase likes to see for their applicants (as well as any other areas of my report they may be particular about). My accounts are as follows;

From oldest to newest (all are a bit older, but this is how they're reporting on CK);

Barclays (AU) - 3 years
Discover (Secured) - 3 months
Lead Bank (Self Lender Loan) - 3 months
AMEX - 2 months
Capital One - 2 months (not reporting yet)

Any help, including personal stories, is appreciated. I look forward to seeing what you all have to say!

Re: Chase Credit History Requirements?

Gmood1 — Sun, 08 Jul 2018 03:10:46 GMT

Though I've seen a few slip through the cracks. Chase can be fickle about the age of accounts (preferably 2 years). And the number of accounts. AU accounts do not factor in.
So from what you've shared. It will be about year before I'd take a stab at them.
Amex is much easier to deal with as a whole, as well as thin file/ young history friendly.

Re: Chase Credit History Requirements?

wasCB14 — Sun, 08 Jul 2018 03:35:06 GMT

It can help to be a checking/savings customer. I got a Freedom when the only thing in my credit report was an inquiry from a declined (unrelated) app the year before.

Re: Chase Credit History Requirements?

Anonymous — Sun, 08 Jul 2018 04:16:55 GMT

Hey, OP!

You are off to a great start! But I think you will have to wait a bit longer.

Chase does not factor AU accounts, and you have less than a year of credit history with accounts in your own name. From I have read in the forums, Chase likes at least a year of credit history.

I am sure one of our finest myFico-ers will chime in soon.

Good luck!

Re: Chase Credit History Requirements?

Anonymous — Sun, 08 Jul 2018 04:24:41 GMT

OP—I tend to agree with previous responses in that you’ll need more time with your unsecured cards. AU is okay to help boost overall credit number, but Chase seems to focus on only only your credit. With your AMEX and Cap1 being only 2 months old, it would be reasonable to expect you need another 10-13 months before applying for something like the Freedom or Freedom Unlimited and having a good chance at approval. There are always exceptions, but Chase is conservative and inquiry sensitive. Build you 2 new cards, graduate your Discover, and garden for about a year and I think you’ll be in very good shape. Best of luck and keep us all posted!

Re: Chase Credit History Requirements?

Anonymous — Sun, 08 Jul 2018 12:22:46 GMT

First of all,

Thank you all so much for all the helpful responses. As for opening a Chase checking or savings account. As much as I would like to do so, Chase does not have branches or ATMs where I live, so, unfortunately, that is not a choice for me. If it was I would've been using them already!

I think I plan to start gardening and hopefully apply for both the Freedom as well as the Freedom unlimited a little after my newest account (Capital One) hits a year of history.

Re: Chase Credit History Requirements?

Anonymous — Sun, 08 Jul 2018 13:55:56 GMT

That sounds like a great plan! Chase likes atleat a year of history. Keep us posed.

Re: Chase Credit History Requirements?

Anonymous — Sun, 08 Jul 2018 23:38:13 GMT

About the year of history. I have store cards that are about a year and a half old and an auto loan thats over a year but i just have one bank card thats 4 months old. Do store cards or an auto loan qualify for the year of history?

Re: Chase Credit History Requirements?

Anonymous — Mon, 09 Jul 2018 01:36:02 GMT

I believe so. If you have a bank card in the mix, I am sure Chase won't automatically deny you. If all your accounts are in good standing, I would give it shot a with Chase. I have not read of anyone getting denied a Chase card for having store cards. I think you are fine.

BTW, what is your AAoA (Average Age of Accounts)?

Re: Chase Credit History Requirements?

Anonymous — Mon, 09 Jul 2018 01:39:29 GMT

1.2 years ish. Auto loan may 17. Cap1 card march 18. Store cards september 16 and December 16.

Re: Chase Credit History Requirements?

Anonymous — Mon, 09 Jul 2018 01:44:51 GMT

Your AAoA is fine. How many revolving accounts do you have in total?

If you have 4 or less, you have an even better chance with Chase. Chase has a 5/24 rule, where if you got 5 accounts within 24 months, you cannot get approved for a Chase card.

Re: Chase Credit History Requirements?

Anonymous — Mon, 09 Jul 2018 01:43:47 GMT

Just those 3 cards. And then auto for installment.

Re: Chase Credit History Requirements?

Anonymous — Mon, 09 Jul 2018 01:45:19 GMT

You are good to go, in my honest opinion.

Re: Chase Credit History Requirements?

Anonymous — Mon, 09 Jul 2018 01:58:54 GMT

OP, keep us posted!

Re: Chase Credit History Requirements?

Bizambish — Mon, 09 Jul 2018 09:44:58 GMT

Let us know how it goes! Check the Chase pre-qual site to see what comes up