topic Re: How to perfectly app/recon for Chase Freedom? in Credit Cards

How to perfectly app/recon for Chase Freedom?

Spanky23 — Mon, 14 Jul 2014 04:59:07 GMT

Have a bestbuy card that I got in November -$2000 limit

Discover It card I got maybe 5 months ago -$2500 limit

100% payments, discover is always PIF, utilization around 20% right now (paying off a laptop)

Income around 35-40k

I do have student debt but all defered right now, discover score last month showed it at 729, (before I even found this forum), so my utilization is way down to boost that score!

I'm looking to get the Chase Freedom (Visa Signature hopefully) and I'm wondering what's the best way to go about it and what my chances possibly are?

App online then if I get the CL at 5-$6000 recon for visa, or recon over phone?

Re: How to perfectly app/recon for Chase Freedom?

simi_go — Mon, 14 Jul 2014 06:28:14 GMT

I'd say 99% chance you get it unless there is something on your reports you didn't mention. About the limit Chase doesn't like to be the first lender to give 5k limits. So I'd say 50/50 on your chances of the siggy. Let us know what you get.

Re: How to perfectly app/recon for Chase Freedom?

B335is — Mon, 14 Jul 2014 08:22:36 GMT

@Spanky23 wrote:
Have a bestbuy card that I got in November -$2000 limit
Discover It card I got maybe 5 months ago -$2500 limit

100% payments, discover is always PIF, utilization around 20% right now (paying off a laptop)

Income around 35-40k

I do have student debt but all defered right now, discover score last month showed it at 729, (before I even found this forum), so my utilization is way down to boost that score!

I'm looking to get the Chase Freedom (Visa Signature hopefully) and I'm wondering what's the best way to go about it and what my chances possibly are?

App online then if I get the CL at 5-$6000 recon for visa, or recon over phone?

Chase typically likes to see 12 months history on at least 1 account. If you can hold off until November I'd say you have a good chance for instant approval then - Best Buy will be 12 months AND Discover will be over 6 months. If you apply now I think you will have to ask for recon. Chase has never given me my highest limit (oddly GE still holds that title), but ymmv.

Re: How to perfectly app/recon for Chase Freedom?

bigblue7722 — Mon, 14 Jul 2014 12:00:38 GMT

If u really want the 5k limit go for the csp. Otherwise I don't think chase is gonna give u a 5k freedom with your current income and other credit limits.

Re: How to perfectly app/recon for Chase Freedom?

Spanky23 — Mon, 14 Jul 2014 12:06:44 GMT

Well I'm sure my other credit limits are also based on the fact that my salary at the time was only 17-20k so I got a decent bump in pay

CSP makes no sense as I really don't travel or anything (although it's on my wishlist for someday)

Like I said always 100%, PIF on Discover Card, no bad marks, and my average credit history shows 1 year 7 months (possibly from making a couple student loan payments?)

Should I maybe app for the card and if approved when should I ask for a CLI and the siggy? Maybe I can go that route

Re: How to perfectly app/recon for Chase Freedom?

bigblue7722 — Mon, 14 Jul 2014 12:16:23 GMT

Honestly if you really want the 5k, I'd do it in two applications u have a better chance of getting the csp and the freedom then getting a cli with chase. . Close the csp after you hit the bonus and transfer the limit over to the freedom.

Re: How to perfectly app/recon for Chase Freedom?

Anonymous — Mon, 14 Jul 2014 12:40:57 GMT

@Spanky23 wrote:
Well I'm sure my other credit limits are also based on the fact that my salary at the time was only 17-20k so I got a decent bump in pay

CSP makes no sense as I really don't travel or anything (although it's on my wishlist for someday)

Like I said always 100%, PIF on Discover Card, no bad marks, and my average credit history shows 1 year 7 months (possibly from making a couple student loan payments?)

Should I maybe app for the card and if approved when should I ask for a CLI and the siggy? Maybe I can go that route

I had a very similar credit portfolio to you when I applied for my Chase Freedom about 2.5 years ago . In my experience, Chase considers other CL's for issuing credit lines while Amex tends to be the lender that looks at income. That being said, your chances of getting the Freedom above 5k are not looking favorable.
At the time I applied, I had:

5% utilization.
50k income.
Fico 719.
Student loans in deferment.
@Anonymous BCE @ 2k. Amex Zync.

I was given a 1.5k CL. When I app'd for the CSP I was given a 15.2k CL, which is almost equal to my CTYP but below my EDP and my PSECU cards. My guess is if you applied for the Freedom they would give you between 1.5 and 2.5k. You can always request a CLI after approval, it will be another HP and also understand that even if you get above 5k, it is not an automatic signature card. I did a CLI a year after using my card (with no auto CLI). They raised it to 5k, but I wasn't automatically upgraded to Signature. I recently (2 months ago) had to inquire via secure message to get it upgraded. It required speaking with a rep for about 10 minutes to process. I have read if you are not automatically upgraded to Signature on approval, you typically need to wait about 1 year before requesting the upgrade.

Others have said it, if you are really dead set on a 5k limit with Visa sig, your best bet is going with the CSP. You can app for a Freedom immediately after CSP approval if approved for the CSP. Meet you CSP spend requirement if you can to get the bonus points. Plus, from what I have read, the Freedom bonus has been brought back down to $100, so the CSP (a $400 value) is much better.

Re: How to perfectly app/recon for Chase Freedom?

Spanky23 — Mon, 14 Jul 2014 13:45:45 GMT

I originally wanted the $200 offer which is why I wanted the freedom. Is it worth much outside of that? Maybe I'll garden a little more and see what offers they have in a couple months

Re: How to perfectly app/recon for Chase Freedom?

Closingracer99 — Mon, 14 Jul 2014 13:46:23 GMT

I Got approved for the Freedom and the chase Sapphire a few weeks ago which they only accepted me after I had a full year with my discover card which is my 1st card.

I had at the time of approval:

Discover -$1000

Amex - BCE-$1000 or $3000 don't remember if I asked for a CLI Before or after apping for the chase cards

Citi Thank you -$4000

Citi simplicity- $2000

Amazon Visa card- $500 ( Is a Chase card)

Amazon store card - $700

I also Do have a chase checking account

Util % Around 10% all on my discover card

700 scores for TU and EX and 682 for EQ

I only got approved for $3,500 for the Freedom but got $5,000 for the Chase Sapphire and is a Siggy card.... I would also suggest apping for the CSP over the Freedom if you want that $5k + Siggy card

Re: How to perfectly app/recon for Chase Freedom?

Closingracer99 — Mon, 14 Jul 2014 13:48:29 GMT

@Spanky23 wrote:
I originally wanted the $200 offer which is why I wanted the freedom. Is it worth much outside of that? Maybe I'll garden a little more and see what offers they have in a couple months

It is a decent cash back Card If you use the rotating 5% back. Since you have a Discover card I would assume it is the it and not the More card but even then you can always PC it to the It if you wanted it. Discover it card also has the 5% rotating categories so the Freedom might just be overlapping what you already have

Re: How to perfectly app/recon for Chase Freedom?

Spanky23 — Mon, 14 Jul 2014 13:49:37 GMT

Yes my bad it is the IT card.

Re: How to perfectly app/recon for Chase Freedom?

ezdoesit — Mon, 14 Jul 2014 13:57:45 GMT

Right now the Freedom bonus is $150 I would guess that it would go back to $200 but again that is just a guess. I do agree if you want a VS then go for the CSP but the age of your CC's are going to hurt your chances. Not the fact that you don't have any card over 5k. Someone the other day just got approved for 10k and their highest card was just 3K.

Did you go on Chase's site and check for prequal they are pretty accurate I have found if something comes up then there is a great chance that you will be approved for that card. Also if nothing comes up that doesn't mean you won't get approved either. Plus if the Freedom comes up then look at the APR that they are offering that will give you an idea of what Chase thinks of your credit. 13.99 - 22.99 is the range for the APR. Good luck

Re: How to perfectly app/recon for Chase Freedom?

Spanky23 — Mon, 14 Jul 2014 14:26:57 GMT

Think I should just garden longer or what? I mean I'd love a siggy but csp just wouldnt make sense right now I dont think. Cash back would. And rotate on and off. Hmm maybe I'll have to look into csp or garden until I feel comfortable going for it

Re: How to perfectly app/recon for Chase Freedom?

Spanky23 — Mon, 14 Jul 2014 14:27:27 GMT

Also apr is no biggy as I never let it go over. As soon as bill cuts I PIF

Re: How to perfectly app/recon for Chase Freedom?

Anonymous — Mon, 14 Jul 2014 14:30:24 GMT

@Spanky23 wrote:
Also apr is no biggy as I never let it go over. As soon as bill cuts I PIF

Right, but also [sad truth here] Siggy is REALLY no biggy either! People want it because "it is there" but most/all of the benefits go unused by many people.

Re: How to perfectly app/recon for Chase Freedom?

Spanky23 — Mon, 14 Jul 2014 14:40:57 GMT

I mean if I traveled I'd probably use it on the csp. And you're right. I think its one of those that everyone just wants one

Maybe I'll go freedom/recon if no luck garden for like 6 months let them age and then go for csp

Re: How to perfectly app/recon for Chase Freedom?

CreditJim — Mon, 14 Jul 2014 15:22:30 GMT

Just FYI - I was just instantly approved for the Freedom under the $150 signup bonus on their website. Current cards in my signature. I only got $4500, so missed out on getting a Signature. Thinking about calling and seeing if they'll send a Signature if I move some/all of the limit of my BA card. Scores are 714 TU and 705 EX. Have had a few apps in the past few months, so probably just a sign I need to garden, but I was expecting it to be $5k+.

Re: How to perfectly app/recon for Chase Freedom?

09Lexie — Mon, 14 Jul 2014 15:25:26 GMT

Moved for better exposure

Re: How to perfectly app/recon for Chase Freedom?

CreditJim — Mon, 14 Jul 2014 15:27:29 GMT

Re: How to perfectly app/recon for Chase Freedom?

Closingracer99 — Mon, 14 Jul 2014 16:50:30 GMT

@Spanky23 wrote:
Think I should just garden longer or what? I mean I'd love a siggy but csp just wouldnt make sense right now I dont think. Cash back would. And rotate on and off. Hmm maybe I'll have to look into csp or garden until I feel comfortable going for it

I would Just app for the Freedom ... If you get accepted and don't get a Siggy and say a $3000 CL you can always wait and ask for a CLI to $5000 eventually and also ask for a siggy later