topic Re: Chase freedom? with 620 Fico? in Credit Cards

Chase freedom? with 620 Fico?

Anonymous — Wed, 22 May 2013 22:12:49 GMT

I am just wondering if its worth it to apply for Chase freedom with a 620 FICO or a prime card

The Bad: Last baddie was in Oct 2011

I have 5 90 day late payments from student loans from Oct 2011, HSBC paid C/O from 2011, 2 Capital One paid C/O from 2008.

The Good:

I currently have 2 student loans for total of 13k 2 months old

New auto loan 26k 1 year old

Capital One card - $1000 Limit 1 year old

Capital One Secured $400 Limit 8 months old

BofA rewards secured $300 Limit 5 months old

CNFA Firestone $900 3 months old

Macys $ 1200 Limit - 3 months old

Kays $400 - 3 months old

Express $250 4 months old

Finger hut $250 8 months old

Buckle $250 4 months old

Brylan Home $250 4 months old

AAoA= 5 months

Re: Chase freedom? with 620 Fico?

09Lexie — Wed, 22 May 2013 22:09:19 GMT

Far too many cc's in 1 yr. you need to not app for anything, age those accts and inq's for at least a yr.

Re: Chase freedom? with 620 Fico?

Anonymous — Wed, 22 May 2013 22:13:54 GMT

Yea I went on a app spree 3 months ago... I went from a 490 score back in june so it was the first time in a long time that I was actually getting approved..might of went a lil overboard hehe.. thats probably what ill do is let my accounts age

Re: Chase freedom? with 620 Fico?

tcbofade — Wed, 22 May 2013 22:15:12 GMT

Well, the newest of them are already three months old, so mebbe you'll only have to wait nine months...

Re: Chase freedom? with 620 Fico?

SRAGS — Wed, 22 May 2013 22:18:23 GMT

Don't app. Don't apply atleast for 15 months and increase limits on present cards.after 7 or 8 months. . If you get approved for freeddom...you r lucky. Too many cards... in one year. thanks.

Re: Chase freedom? with 620 Fico?

dddewdrop — Wed, 22 May 2013 22:26:48 GMT

I got approved for a Chase Freedom a month ago with the scores in my sig. I had added 2 new cards this year and had 2 or 3 inquiries per report. I had to jump through a lot of hoops and was eventually approved after recon. I would agree what others have said. Lay off applying for more cards for a while. You have plenty of tradelines. Wait til your scores move up a few notches then pic one prime card to apply for. It is hard to keep track of a lot of cards and easy to charge a little on each one an end up with a pile of debt. I would actually consider putting some of your cards in a sock drawer and letting them close themselves for inactivity. If they are closed in good standing, they will still have a positive effect on you AAOa for years to come. Fingerhut comes to mind. The products they offer can be overpriced and attained elsewhere for less. Good luck.

Re: Chase freedom? with 620 Fico?

migliogiorni — Wed, 22 May 2013 22:56:11 GMT

+1, wait a year fore sure, GL.

Re: Chase freedom? with 620 Fico?

Anonymous — Thu, 23 May 2013 02:38:09 GMT

I think you need a prime card - and I think you should wait until 1 year from your most recent app.

Re: Chase freedom? with 620 Fico?

Revelate — Thu, 23 May 2013 03:00:27 GMT

Freedom minimum underwriting is around the 640 FICO mark; the only times we've seen lower IIRC is for folks that have non-trivial deposits at Chase, and even then they were 635ish. 620, I'd hold pat as others have suggested, a lot opens up at 640.

Re: Chase freedom? with 620 Fico?

myjourney — Thu, 23 May 2013 03:27:35 GMT

Join the garden club for about 9-12 months what you need now is some time for scores to increase.

Good cards and credit is not a sprint but a marathon and it truly take time to win.

Re: Chase freedom? with 620 Fico?

Anonymous — Thu, 23 May 2013 14:51:17 GMT

Thank you all for you feedback I will wait a year to apply for chase freedom! Joining the garden club for 12 months!!

Re: Chase freedom? with 620 Fico?

asphaltcowboy — Thu, 23 May 2013 15:05:50 GMT

@Anonymous wrote:
Thank you all for you feedback I will wait a year to apply for chase freedom! Joining the garden club for 12 months!!

Welcome to the club

Re: Chase freedom? with 620 Fico?

Anonymous — Thu, 23 May 2013 16:23:10 GMT

No way, they are gonna deny you for either too many inquries, too many new accounts, or lack of history. I find chase's CC is harder to get than Amex. I personally got denied 3-4 times for lack of history and too many new accounts. They said at least have a year and a half of good credit history and I apped with 0, 3, 8 months of history. But, at the same, I got approved for two Amex...

Re: Chase freedom? with 620 Fico?

LS2982 — Thu, 23 May 2013 16:37:34 GMT

Score aside the number of new accounts will be an automatic decline. IMO I would garden for a year and work on raising some of those secured card CLs.

Re: Chase freedom? With 620 Fico?

oztsvi — Thu, 23 May 2013 18:23:04 GMT

well i applied two weeks ago and got instantly approved for 3k, i tried back in nov 2012 and got denied for short credit history.

i think your score is a bit low, bump up your score and try again 6 months from today.

you'll also get more good history on your other accounts