topic Re: Reapplying or Chase Freedom after being denied for too many student loans? in Credit Cards

Reapplying or Chase Freedom after being denied for too many student loans?

Anonymous — Thu, 31 Jul 2014 18:36:52 GMT

Hi all,

So four months ago, I applied for a Chase Freedom card and was denied for too many student loans (I have $7000 through SM). My only credit history were these nonrevolving student loans, and my current income is $12,000/year

Afterwards, I went and grabbed a Discover It with a $1000 CLI, and built my revolving credit history and got my FICO to 721 as of last week.

I was wondering, would it be worth it to reapply for Chase Freedom? The card looks like it would be great, considering I also have a Chase college checking account. If so, how long should I wait to reapply? I read three months in one site, six months in another, etc etc, so I was hoping someone either had firsthand knowledge or any insight that could help

Thanks!

Re: Reapplying or Chase Freedom after being denied for too many student loans?

heyarrnold — Thu, 31 Jul 2014 18:45:38 GMT

What do your reports look like?(inqs, util, baddies etc)

EDIT: Did not catch the income part

Re: Reapplying or Chase Freedom after being denied for too many student loans?

Closingracer99 — Thu, 31 Jul 2014 18:42:41 GMT

@heyarrnold wrote:
What do your reports look like?(inqs, util, baddies etc)

And what is your income, if you do not mind me asking?

His Income was stated at $12,000 a year

TBH I would probably wait till your AAoA is higher to app again for the Freedom

Re: Reapplying or Chase Freedom after being denied for too many student loans?

Creditaddict — Thu, 31 Jul 2014 19:06:47 GMT

check chase pre-qual... if you get offer go for it otherwise wait a little bit longer.

Re: Reapplying or Chase Freedom after being denied for too many student loans?

tonyjones — Thu, 31 Jul 2014 19:35:46 GMT

That's an odd reason for denial, maybe debt to income ratio was not too good.

Re: Reapplying or Chase Freedom after being denied for too many student loans?

Anonymous — Thu, 31 Jul 2014 19:38:36 GMT

When I applied for my Freedom I only had an Amex Zync for 6 months. I also had close to 50k in student debt. I was approved. Check their prequal as CreditAddict suggested.

Re: Reapplying or Chase Freedom after being denied for too many student loans?

09Lexie — Thu, 31 Jul 2014 20:05:36 GMT

Chase is not big on being the first card issuer unlike Discover. If the pre-qual site doesn't give you an offer, let the Discover age about 6 mos before reapplying