topic Re: Chase Freedom approved in Credit Cards

Chase Freedom approved

Anonymous — Mon, 13 Jun 2011 16:30:18 GMT

10 months ago, I applied for the Chase Freedom and was rejected with a score of 764 EQ Fico for some petty reasons (short history, low usage of cards etc.). I only had 3.5 years AAoA then and would usually just pay before the statement cut, hence the small to nonexistent balances on my cards. I was mad at Chase. However, I kept thinking about the Freedom and its value as a seasonal 5% rewards card. It's definitely not the worst card out there.

Today, I pulled the trigger and reapplied (same portfolio, enriched by three new accounts that are now approx. 1 year old but altogether higher scores). I was a bit nervous even though my EQ Fico score is now in the 780s. I am happy to report that I was instantly approved online. When I called in, the rep said that my card with a limit of $7000 will be a Visa Platinum. This is even better news as it will report the limit correctly to the bureaus.

Also, when I signed up I could find a deal for $150 cashback when you spend $500 on the card in the first three months. Most offers only said $100 but this one was $150. That's also good news.

Together with my other cashback cards, Discover More, Amex Blue Cash Everyday, and BoA 2% cashback Visa, this shall be the final card in my portfolio unless someone puts out another atractive card. I've got six CCs now. I don't think I want to manage more.

Just thought I share the good news.

Re: Chase Freedom approved

RockinRay — Mon, 13 Jun 2011 16:33:47 GMT

Awesome and congrats!

Great in what you are doing to manage your credit.

Ray

Re: Chase Freedom approved

Anonymous — Mon, 13 Jun 2011 16:42:49 GMT

Congrats

It's always nice to hear the word "approved".

Re: Chase Freedom approved

tntexans72 — Mon, 13 Jun 2011 17:00:08 GMT

What was your UTIL % at the time of apped?

What CR did Chase pulled and how many inquiries did you have at the time?

Congrats !!

Welcome to the Chase Freedom family !!

Re: Chase Freedom approved

Anonymous — Mon, 13 Jun 2011 17:05:15 GMT

Util between 1and 2%. I don't know what they pulled. I am currently not paying for reports. I'll find out with my free annual reports in a bit.

I have 2 inquiries on each of the three report that are about 10 or 11 months old. I guess they only look for inquiries less than six months.

Re: Chase Freedom approved

mindacid — Mon, 13 Jun 2011 17:36:54 GMT

Congratulations on your approval. I also got approved for the Chase Freedom about three weeks ago. I got a CL of $5,000, It's interesting that they didn't approve you initially with a 764 score. Just goes to show that it tends to be about the big picture rather than just scores.

I'm curious about the BofA card you mention with 2% rewards. Which card is it? A couple of months ago I got a Bankamerica Cash Rewards visa paying 1% (well, promotional 3% on groceries/gas/pharmacy for initial six months). Maybe I can PC to what you have.

Re: Chase Freedom approved

Anonymous — Mon, 13 Jun 2011 18:51:18 GMT

@mindacid wrote:
I'm curious about the BofA card you mention with 2% rewards. Which card is it? A couple of months ago I got a Bankamerica Cash Rewards visa paying 1% (well, promotional 3% on groceries/gas/pharmacy for initial six months). Maybe I can PC to what you have.

This was a mail solicitation offer only. It strictly pays 2% on everything which turns into 2.5% when you redeem at the $300 level. It's not available on their website. This might be a test run for a new program, though. I pay a lot of expenses with this card (insurance bills etc.). It's awesome and I hope they put it up on their website one day.

Re: Chase Freedom approved

mindacid — Mon, 13 Jun 2011 20:32:41 GMT

wollepopolle: Thanks a lot for the reply. I'll keep an eye out for that BofA solicitation. Maybe I'll get it too. Congrats again on the approval and the great CL.

For anyone else who is keeping track of Chase Freedom approvals, I got approved with a $5,000 CL in May 2011 with an EQ Fico of 715, about 15% util and 13 inquiries (yes, 13!). This is now my highest CL (until then my highest CL was BofA at $1,500). I applied at chase.com and received a message that I'd get a response in about 2 weeks. I then received a letter about 2 weeks later asking me to call in to confirm my info. I called and confirmed my address, employer, salary and amount of my rent and was approved. Took about 5 minutes. No pull when I initially applied online but they pulled EX (and EX only) when I called in to confirm my info. I'm in California. Good luck to all with your apps.

Re: Chase Freedom approved

Anonymous — Fri, 14 Oct 2011 04:37:26 GMT

Hi OP, I know you mentioned the card would report limit, but could you confirm that after having the card for a few months? Thanks.

Re: Chase Freedom approved

RyVision — Sat, 15 Oct 2011 07:51:30 GMT

@Anonymous wrote:
Hi OP, I know you mentioned the card would report limit, but could you confirm that after having the card for a few months? Thanks.

If you're asking about the Chase Freedom Visa, since the first month it has always reported the limit for us, on both reports Primary and AU's. Are you thinking of the Freedom Signature Visa? That may not report the credit limit as I think it's considered a flexible limit card (like BankAmericard Plat Signature Visa, it only reports "flexible" or "blank" in the CL line).

From all I've read, when anyone's mentioned it reporting the CL, Chase Freedom Visa (NON Signature) always reported their CL for them.

Re: Chase Freedom approved

Meltdownblitz — Sat, 15 Oct 2011 17:03:32 GMT

Doesnt having too many new accounts scare your current lenders upon applying? Causing them to close your accounts and or lower limits?

Re: Chase Freedom approved

haulingthescoreup — Sat, 15 Oct 2011 17:14:53 GMT

Some are bothered (see "Barclays" ); others are not.

I'd strongly recommend that anyone on an extended app spree make all their accounts but one report $0 so that the other lenders won't think that you're running up bills that you have no intention of paying.

Re: Chase Freedom approved

Gladtobehere — Sat, 15 Oct 2011 18:16:00 GMT

Hi Mindacid, I see that in a year you have drastically improved your credit score. Can you tell me the cards you have applied for? I recently was approved for a Capital One with $1000 CL, but I need at least two more. Thanks and good luck on your 760 goal, your almost there.

Re: Chase Freedom approved

Anonymous — Sun, 16 Oct 2011 05:28:30 GMT

@RyVision wrote:
@Anonymous wrote:
Hi OP, I know you mentioned the card would report limit, but could you confirm that after having the card for a few months? Thanks.
If you're asking about the Chase Freedom Visa, since the first month it has always reported the limit for us, on both reports Primary and AU's. Are you thinking of the Freedom Signature Visa? That may not report the credit limit as I think it's considered a flexible limit card (like BankAmericard Plat Signature Visa, it only reports "flexible" or "blank" in the CL line).

From all I've read, when anyone's mentioned it reporting the CL, Chase Freedom Visa (NON Signature) always reported their CL for them.

No, my card is non-signature (I asked via online banking message), but it comes with rental car collision damage waiver. EQ scorewatch gave me an alert of new account:

Date Opened:09/01/11
Date Reported:10/01/11
Credit Limit:N/A
Balance: $2,483
Comments:Credit card , Amount in H/C column is credit limit

Has anyone else been in this situation?