topic Re: Applying for Chase Freedom while waiting for BCE in Credit Cards

Applying for Chase Freedom while waiting for BCE

Anonymous — Sun, 10 Mar 2013 18:20:14 GMT

Hi guys, just asked a question not too long ago and you guys had great responses! Now I have another.

I'm 20, I have an AMEX Gold card that I've had since 2011, and on my free credit reports from MyFICO and AMEX it also shows 710 for EX and 687-691 for EQ and TU. I also have on there a BoA card that I was an AU with a parent since 2009. It says its still current, but I have to talk to my parent about that and see, but it says no activity since 2011. (SIDE NOTE: If I remove myself as a user is the effect the same as closing the account?). The card has a $9,000 limit, but has had one 30 day late payment. Also, the credit reports show a $900 balance on my Gold card from last month even though I PIF (maybe someone can let me know if that is normal with a charge card, and if it is, how can I avoid it from showing like that in the future, considering I carry no balance I don't want it to show that I do!). I So those two factors along with my young credit history I guess are the things working against me right now, because other than that I haven't missed an AMEX payment at all and PIF every month. And one other thing I forgot to add, I applied for Bill Me Later when purchasing a computer last fall and got denied, so I have a HP on my EQ from April of 2012, on TU and EX the only HPs are from the AMEX Gold in 2011 which was obviously approved.

I just last night applied for the BCE from AMEX, I did it online, but of course it said they're systems were undergoing maintenance and it needed more information that it couldn't get from my account, but eventually I got to the point where it says that I'll find out shortly and can check my status online and what not. I'm guessing this probably means I'm declined? I was wondering, should I apply for another CC, maybe the Chase Freedom card or another one you guys might recommend, before this HP and possible denial shows up on my CR? Or is that a bad idea?

Thanks in advance,

Art Vandelay

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Sun, 10 Mar 2013 20:19:08 GMT

Go online and check the status, I called in this morning to add an employee to one of our business accounts and the rep mentioned that their computers had been down dealing with the time change and were just coming back up. this was at 10am this morning

I would be checking every 10 minutes lol

Re: Applying for Chase Freedom while waiting for BCE

LS2982 — Sun, 10 Mar 2013 20:20:41 GMT

@Anonymous wrote:
Go online and check the status, I called in this morning to add an employee to one of our business accounts and the rep mentioned that their computers had been down dealing with the time change and were just coming back up. this was at 10am this morning

I would be checking every 10 minutes lol

Good luck OP

Fingers crossed for ya!!

Re: Applying for Chase Freedom while waiting for BCE

SnackTrader — Sun, 10 Mar 2013 20:21:58 GMT

https://www262.americanexpress.com/eaol/welcome.do

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Sun, 10 Mar 2013 20:39:58 GMT

@SnackTrader wrote:
https://www262.americanexpress.com/eaol/welcome.do

Yeah that link says its in progress, so I guess it went through. If I havent heard back yet, is it most likely not going to get approved?

And in the mean time, should I shoot for the Chase Freedom? Or should I wait and see if I get approved/denied?

Re: Applying for Chase Freedom while waiting for BCE

zerobacan — Sun, 10 Mar 2013 20:44:32 GMT

@Anonymous wrote:
@SnackTrader wrote:
https://www262.americanexpress.com/eaol/welcome.do
Yeah that link says its in progress, so I guess it went through. If I havent heard back yet, is it most likely not going to get approved?

And in the mean time, should I shoot for the Chase Freedom? Or should I wait and see if I get approved/denied?

WAIT AND SEE!!!! then call Amex and ask. inqs hurts even more when you had the chance to waiiittttt

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Sun, 10 Mar 2013 20:51:59 GMT

@zerobacan wrote:
@Anonymous wrote:
@SnackTrader wrote:
https://www262.americanexpress.com/eaol/welcome.do
Yeah that link says its in progress, so I guess it went through. If I havent heard back yet, is it most likely not going to get approved?

And in the mean time, should I shoot for the Chase Freedom? Or should I wait and see if I get approved/denied?
WAIT AND SEE!!!! then call Amex and ask. inqs hurts even more when you had the chance to waiiittttt

Lol, I was really banking on an instant approval, now I'm all flustered!

when you say, inqueries hurt more when you had the chance to wait, are you saying I should apply for the Freedom now, or immediately after the AMEX decision? Sorry haha

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Sun, 10 Mar 2013 22:14:50 GMT

@Anonymous wrote:
@zerobacan wrote:
@Anonymous wrote:
@SnackTrader wrote:
https://www262.americanexpress.com/eaol/welcome.do
Yeah that link says its in progress, so I guess it went through. If I havent heard back yet, is it most likely not going to get approved?

And in the mean time, should I shoot for the Chase Freedom? Or should I wait and see if I get approved/denied?
WAIT AND SEE!!!! then call Amex and ask. inqs hurts even more when you had the chance to waiiittttt
Lol, I was really banking on an instant approval, now I'm all flustered!

when you say, inqueries hurt more when you had the chance to wait, are you saying I should apply for the Freedom now, or immediately after the AMEX decision? Sorry haha

Wait until after you find out from AMEX.

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Sun, 10 Mar 2013 22:26:09 GMT

@Anonymous wrote:
@Anonymous wrote:
@zerobacan wrote:
@Anonymous wrote:
@SnackTrader wrote:
https://www262.americanexpress.com/eaol/welcome.do
Yeah that link says its in progress, so I guess it went through. If I havent heard back yet, is it most likely not going to get approved?

And in the mean time, should I shoot for the Chase Freedom? Or should I wait and see if I get approved/denied?
WAIT AND SEE!!!! then call Amex and ask. inqs hurts even more when you had the chance to waiiittttt
Lol, I was really banking on an instant approval, now I'm all flustered!

when you say, inqueries hurt more when you had the chance to wait, are you saying I should apply for the Freedom now, or immediately after the AMEX decision? Sorry haha
Wait until after you find out from AMEX.

Thanks ryanbush. I just bought my scores through Equifax.com, and my EX is now 660 due to the HP from AMEX, whereas it was showing 710 on AMEX yesterday, so the request definitely went through.

I guess it should be if I get the BCE, then try for the Freedom, and if I get denied for the BCE, hold off on everything for a while?

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Sun, 10 Mar 2013 23:03:19 GMT

the freedom is a lot easier to get than the BCE.

Only because Chase approves people with less than ideal credits for toy limits (250-500).

If you really want a Chase freedom, you might as well just go ahead right now.

Apply for the cards you need, not for the sake of applying to raise CL

Re: Applying for Chase Freedom while waiting for BCE

zerobacan — Sun, 10 Mar 2013 23:07:03 GMT

@Anonymous wrote:
the freedom is a lot easier to get than the BCE.
Only because Chase approves people with less than ideal credits for toy limits (250-500).

If you really want a Chase freedom, you might as well just go ahead right now.

Apply for the cards you need, not for the sake of applying to raise CL

yes

inqs show instantly in your CR.

and if you get approved, separating your apps with a good time, increases your chances of not looking desperate for new credit = high rish

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Mon, 11 Mar 2013 00:00:11 GMT

@Anonymous wrote:

Apply for the cards you need, not for the sake of applying to raise CL

To be honest, I think I am just applying to raise CL. I kinda want to have a couple accounts and then just sit on them until at least when I graduate in a year and a half when I expect my income to be in the mid 50s, then maybe apply for something like the CSP.

As far as needing more cards, I don't really need any because I have the Gold card, but would like the BCE for the points and to actually have a credit card and not just a charge card. The same goes for the Freedom. Is this not a good idea? I just want to do some HPs now while I don't really need that high of a credit score, then let it grow for the next few years until I actually need might it for an auto loan, mortgage, credit checks for apartment rental, etc. Does this make sense or a bad idea?

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Mon, 11 Mar 2013 00:08:16 GMT

@Anonymous wrote:
@Anonymous wrote:

Apply for the cards you need, not for the sake of applying to raise CL
To be honest, I think I am just applying to raise CL. I kinda want to have a couple accounts and then just sit on them until at least when I graduate in a year and a half when I expect my income to be in the mid 50s, then maybe apply for something like the CSP.

As far as needing more cards, I don't really need any because I have the Gold card, but would like the BCE for the points and to actually have a credit card and not just a charge card. The same goes for the Freedom. Is this not a good idea? I just want to do some HPs now while I don't really need that high of a credit score, then let it grow for the next few years until I actually need might it for an auto loan, mortgage, credit checks for apartment rental, etc. Does this make sense or a bad idea?

What you are doing is a good idea, it seems like you have it all figured out.

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Mon, 11 Mar 2013 00:13:35 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:

Apply for the cards you need, not for the sake of applying to raise CL
To be honest, I think I am just applying to raise CL. I kinda want to have a couple accounts and then just sit on them until at least when I graduate in a year and a half when I expect my income to be in the mid 50s, then maybe apply for something like the CSP.

As far as needing more cards, I don't really need any because I have the Gold card, but would like the BCE for the points and to actually have a credit card and not just a charge card. The same goes for the Freedom. Is this not a good idea? I just want to do some HPs now while I don't really need that high of a credit score, then let it grow for the next few years until I actually need might it for an auto loan, mortgage, credit checks for apartment rental, etc. Does this make sense or a bad idea?
What you are doing is a good idea, it seems like you have it all figured out.

Lol, I'm trying. Still learning, but I like to think I'm a quick learner and you guys have certainly been helpful. I was going to say I'll wait to apply for the Freedom until I know if I get the BCE just in case I get it, so that way maybe I'll get a higher Freedom limit, but doesn't it take 6 months to start posting or something? I think if thats the case it makes more sense to do it all at once and just let it grow from there, whether I get one of them, both of them, or none of them.

Re: Applying for Chase Freedom while waiting for BCE

youngandcreditwrthy — Mon, 11 Mar 2013 00:27:06 GMT

I use Freedom and Amex...
They each have their own advantages.
Imo, you'd get approved.

Re: Applying for Chase Freedom while waiting for BCE

youngandcreditwrthy — Mon, 11 Mar 2013 00:28:06 GMT

Even if you get approved for the BCE, Amex wont report it for a month or two lol

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Mon, 11 Mar 2013 00:28:53 GMT

My Chase account started posting to the CRAs within 45 days of the account opening.

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Mon, 11 Mar 2013 00:37:58 GMT

@Anonymous wrote:
@Anonymous wrote:

Apply for the cards you need, not for the sake of applying to raise CL
To be honest, I think I am just applying to raise CL. I kinda want to have a couple accounts and then just sit on them until at least when I graduate in a year and a half when I expect my income to be in the mid 50s, then maybe apply for something like the CSP.

As far as needing more cards, I don't really need any because I have the Gold card, but would like the BCE for the points and to actually have a credit card and not just a charge card. The same goes for the Freedom. Is this not a good idea? I just want to do some HPs now while I don't really need that high of a credit score, then let it grow for the next few years until I actually need might it for an auto loan, mortgage, credit checks for apartment rental, etc. Does this make sense or a bad idea?

i would say you're doing fine.

the gold card is a charge card with no limit, so getting a revolving card with limit will help a lot.

If you can get approved for the BCE, i would say you have a decent shot at the CSP instead of having to get the freedom. But, the freedom has good rewards so it's good to get that card. I am a little confused though, is your score 660 or 700+?
Chase pulls Experian as well (i think).

Your Amex is going to be a SP is declined, HP if approved since you're a current amex member.

Anyways the most important part is to find out what your score is and then decide if you want to apply now or later.

If you think you can increase your score by quite a bit over the next 6 months (such as inquiries falling off soon or lates falling off soon, or paying down debt), then wait to apply for the freedom. Apply with a good score and get a decent CL than to get a toy card with a few hundred CL.

It is hard to be a "big spender" on a card with just a few hundred CL because it will just screw up utilization. At the same time banks like it and want to see that you're using a card a lot.

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Mon, 11 Mar 2013 02:13:23 GMT

@Anonymous wrote:
i would say you're doing fine.
the gold card is a charge card with no limit, so getting a revolving card with limit will help a lot.
If you can get approved for the BCE, i would say you have a decent shot at the CSP instead of having to get the freedom. But, the freedom has good rewards so it's good to get that card. I am a little confused though, is your score 660 or 700+? Well for EX it shows 710 on AMEX and 660 on Equifax.com because that already is showing an inquiry for the BCE.
Chase pulls Experian as well (i think).

Your Amex is going to be a SP is declined, HP if approved since you're a current amex member.Good to know, thank you.

Anyways the most important part is to find out what your score is and then decide if you want to apply now or later.
If you think you can increase your score by quite a bit over the next 6 months (such as inquiries falling off soon or lates falling off soon, or paying down debt), then wait to apply for the freedom. Apply with a good score and get a decent CL than to get a toy card with a few hundred CL. I'll look into that, I have an inquiry on EQ coming off in April for my stupid BML thing I applied for without thinking, but my AMEX Gold inquiry doesn't fall off EX and TU until August. I'm not sure if it would make sense to wait that long to apply for the Freedom/something else after the BCE?

It is hard to be a "big spender" on a card with just a few hundred CL because it will just screw up utilization. At the same time banks like it and want to see that you're using a card a lot.

Responses in green. I feel that as long as I get at least 1k it makes sense for me, because I never plan to carry a balance. I usually pay my AMEX before my bill closes. In fact, this one month I happened to forget and paid it off after my bill closed, so now for some reason its saying I have a $900 balance, which is kind of stupid if you ask me because I don't have a balance, I just PIF after the bill closed instead of before like I normally do. So I guess its possible next month my "balance" would report as $0. Maybe it would be best to do the Freedom card then.

Re: Applying for Chase Freedom while waiting for BCE

Anonymous — Mon, 11 Mar 2013 02:19:22 GMT

It's a charge card, doesn't affect utilization. If anything it will let Chase know you can charge quite a bit each month and PIF. I think the biggest reason I got approved for my CSP was I had a 2700$ balance ony my AMEX. They kept saying I didn't have any cards at 5k, I let them know I charged quite a big on my AMEX and they went ahead and approved me.