topic Re: Chase Freedom Recon in Credit Cards

Chase Freedom Recon

Anonymous — Sat, 23 Mar 2013 04:03:39 GMT

Hi guys

On my quest to start building credit I was on my way to a credit union but decided to stop at Chase to send some money to the family back home and while chatting with the representative I mentioned I was denied twice on my Chase applications. She mentioned that there was a way to improve my chances on getting a card with them which is to have at least 10k on my Chase checking account. She said if I had 10k and applied I would get denied but she would then recon saying I have only been for a short period of time in US and that I hold a checking account with such amount of money. According to her she has done this several times and only once has failed and the reason was that the guy had messed up his credit too bad to make the approval. I asked her which card could I apply for using her suggestion and she said Freedom.

Has anyone experienced this? Do you think she could help me out? Anyway, I am going into the Garden with my CAP1 secured card as soon as I get it in the mail at least for 6 months so I told her I will think about applying by the end of the year. What do you think?

Re: Chase Freedom Recon

Anonymous — Sat, 23 Mar 2013 04:31:59 GMT

I would say do it soon. I bet she can get it done. US Bank did the same thing for me when I had no credit.

Has your cap1 reported at all yet?

Re: Chase Freedom Recon

Anonymous — Sat, 23 Mar 2013 04:48:42 GMT

keeping 10k in a checking account just to get a 3k chase freedom caard doesn't seem worth it. i say go for other cards instead.

Re: Chase Freedom Recon

Anonymous — Sat, 23 Mar 2013 06:52:37 GMT

Sounds like he can just put the money in, get approved and then take the money back out.

Who said $3k? I think it would be more like $500..haha

Re: Chase Freedom Recon

09Lexie — Sat, 23 Mar 2013 07:04:26 GMT

Re: Chase Freedom Recon

Anonymous — Sat, 23 Mar 2013 07:54:59 GMT

@Anonymous wrote:
Sounds like he can just put the money in, get approved and then take the money back out.

Who said $3k? I think it would be more like $500..haha

^ I agree.

Have friends with over >20k deposit, zero credit history (new to the US as well) and got approved for freedom. However they all got toy limits (500-1000). If that's what you want, go for it.

Personally I wouldn't recommend it. But the Freedom is a great card, so if you can max out those 5% rewards, definitely go for it.

Re: Chase Freedom Recon

ObeyJohnny12 — Sat, 23 Mar 2013 13:33:03 GMT

If having 10k just to get approved for a toy limit, might as well use that money and open up a secured card.

Re: Chase Freedom Recon

Anonymous — Sat, 23 Mar 2013 14:51:47 GMT

My Cap1 card has not reported yet, thanks for the advice

Re: Chase Freedom Recon

WarJar101 — Sat, 23 Mar 2013 14:53:43 GMT

I say leave the whole hassle of putting 10 grand in a Chase account. Citibank sucks, but they'll definitely extend a credit line to you when you have no credit. CapitalOne isn't so bad nowadays either, they actually are redeeming themselves in a lot of peoples' eyes now. Also, known for giving a line, when you have no credit.

Re: Chase Freedom Recon

Anonymous — Sat, 23 Mar 2013 14:56:23 GMT

I will call her and ask what is the average CL she has seen while doing this.

Is Chase to hard on issuing CLI? Please keep in mind I have no credit history, would having a Freedom card even with toy limit help in order to establish credit? I think I only need to have the 10k for application.

I will got to the garden soon but I want to have at least 2 cards, would you rather gardening 2 secure cards or 1 secured and 1 Chase Freedom?

Thanks in advance for your comments

Re: Chase Freedom Recon

Anonymous — Sat, 23 Mar 2013 18:40:51 GMT

@Anonymous wrote:
I will call her and ask what is the average CL she has seen while doing this.

Is Chase to hard on issuing CLI? Please keep in mind I have no credit history, would having a Freedom card even with toy limit help in order to establish credit? I think I only need to have the 10k for application.

I will got to the garden soon but I want to have at least 2 cards, would you rather gardening 2 secure cards or 1 secured and 1 Chase Freedom?

Thanks in advance for your comments

CLI every 6 months would be reasonable.

It would be great at establishing your credit, and unlike a secured card. Right after you open the account, you can pull the funds back out.

Freedom is a great credit card that will grow with you.

Re: Chase Freedom Recon

Henchman21 — Sat, 23 Mar 2013 18:46:26 GMT

That cap 1 doesn't report as secured. I would deposit into the cap 1 until it is maxed(3k) so in the future, other lenders will consider that CL when extending you a line. BoA has a secured card that normally unsecures at 1 year and has a fairly generous starter's limit.

Re: Chase Freedom Recon

LS2982 — Sat, 23 Mar 2013 18:48:56 GMT

@ObeyJohnny12 wrote:
If having 10k just to get approved for a toy limit, might as well use that money and open up a secured card.

I'd probably use half of it and open a secured card, garden it for a year and get whatever prime card I wanted then.