topic Re: Chase Freedom Application Response..."30 day wait" in Credit Cards

Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 04:22:04 GMT

Hey everyone,

I am new to to boards and this might be posted already...I applied for the Chase Freedom card, mainly because I have about four other credit cards that have decent interest rates, but I would like to consolidate them onto one card. My credit isn't horrible, but it isn't great either. TU of about 660, FICO 665, both havent been updated in a month or so, so they might be inaccurate. I'm not sure of the other score with other bureaus. I do have an auto lease (hyundai) as well as an auto finance (Chase) about 30k combined and about 15k in student loans all in my name, plus four credit cards and two store cards totaling about 7k in credit lines. I believe my utilization on all cards is about 40% currently. I work full time and have an annual income of 60k.

I recently applied for Chase Freedom and instead of a denial, I received a message: "We have received you application, but it requires further review, we will send you a response within 30 days"...I called the number on website to check the status of the application and as of today it still says "application is being reviewed, we will notify you in writing in 5-7 business days"...I applied on 9/12/14 (about 8 days ago). I also checked the chase website for pre-qualified offers and was told no offers were available...I am thinking I am going to get denied, but what is everyone elses experience with chase?

What does everyone think, denial or apporval?

Is this standard procedure?

If denied, is there a number for reconsideration?

Anyone know the minimum income and credit score requirements for chase freedom?

Re: Chase Freedom Application Response..."30 day wait"

yfan — Sun, 21 Sep 2014 06:50:55 GMT

@Anonymous wrote:

What does everyone think, denial or apporval?
Is this standard procedure?
If denied, is there a number for reconsideration?
Anyone know the minimum income and credit score requirements for chase freedom?

I know it's real tempting to guess, but just wait and find out.
Yes, it's standard procedure when the bank decides your application needs more review. But the lack of an instant approval is not synonymous with an instant denial.
There is, I'm sure someone will find it for you.
Yes, Chase knows and they won't tell you.

Point is, have patience. Go on with your life, and this will work out.

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 07:43:01 GMT

@Anonymous wrote:
I recently applied for Chase Freedom and instead of a denial, I received a message: "We have received you application, but it requires further review, we will send you a response within 30 days"

i got that same message and Chase emailed me after 16 days saying "Welcome to Chase" Approved for the Freedom Card, i think you can still be approved, give them the 30 days for them to finish eating their Happy Meals...

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 15:40:03 GMT

Yfan...

Thank you for your reply. I did'nt mean to sound over anxious or anything but I heard that chase is very selective with new accounts! I have applied at chase in the past and have been declined everytime, granted at that point I was near my limits on other cards, high utilization, and only had one auto lease and no student loans or anything. Currently about two years later I have more on the table to offer. I know chase likes high credit scores, but mine are average, I was just wondering if anyone received this type of message and what it typically means. I want to merge my other credit cards onto the freedom. Thanks for your reply.

Re: Chase Freedom Application Response..."30 day wait"

Callandra — Sun, 21 Sep 2014 15:44:04 GMT

Have you tried calling them yet?

Sounds like your application is probably borderline which is why it needs manual review; util might be a bit high at 40%. I'm sure your income is fine as I got approved for Freedom with 22k income.

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 15:44:29 GMT

Super_AL...

I applied on 9/12/14 and there was a number for customer service, I have been calling it every two to three days just to get an update and it still says application under review. I was almost positive when they said we need thirty days to review your app that it would be a denial. It's good to know someone like you has gone through this and still was approved. if you don't mind me asking...

What was you untilization percentage at?

What were your credit scores ballpark?

It's been about 10 days thus far, even though online said 30 days, the message on the automated system says it should only be another 5-7 business days!

I'm pumped and I hope I get this card, I just hope they give me a decent credit limit so I can transfer my balances.

The only other card I have that did this app under review thing was discover and they approved me after 5 days for $1,000 limit.

Thanks for your input.

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 15:44:56 GMT

I think you'll be ok I had the 7-10 day message when I applied for the Freedom card, received a Congratulations email within an hour. Got the 30 day message when I applied for the Sapphire card, called bc I dont have 30 days worth of patience in me, turns out all that was needed was identity verification. Good luck!

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 15:47:54 GMT

Callandra...

I did call the automated system. Did not speak to an actual person. The automated asks for social for app lookup. As of today it still says app under review, we will notify you within 5-7 business days. I am hoping for an approval, but if I get denied I will def be calling for a reconsideration. Utilization at 40% is high, but I have paid down about $1,000 on my other accounts in the past 8 days since I applied for chase freedom, so hopefully my reports update by the time I need to call for a reconsideration (if I need to).

I figured I would call and speak to a person if I get declined.

Thanks for your input.

@Callandra wrote:
Have you tried calling them yet?

Sounds like your application is probably borderline which is why it needs manual review; util might be a bit high at 40%. I'm sure your income is fine as I got approved for Freedom with 22k income.

Re: Chase Freedom Application Response..."30 day wait"

plastic_man — Sun, 21 Sep 2014 15:48:52 GMT

Call the RECON line and ask them if they need anything from you ...search BACKDOOR NUMBERS in this forum and you'll be able to get the right number to call and speak with someone...good luck!

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 15:56:17 GMT

HeavenlyFlower...

I hope your right. I intially received the "please allow us 30 days to review your app" online, then received the "your app is still under review, we will notify you in writing within 5-7 days"...I did'nt receive any emails (not even one for thanks for applying) I am just still waiting. I don't really want to call them as of yet unless I have to, I figured if I get denied I will call for the recon, if I get approved I won't call at all unless the credit line is rewally low.

I am the same way with the 30 day (it kills me) lol. When you called, I wonder why they needed identity verification, when it was all verified when you applied. I also wonder why they did'nt just call you and ask for it instead of waiting so long.

Thanks for the positive input and support!

Re: Chase Freedom Application Response..."30 day wait"

yfan — Sun, 21 Sep 2014 15:57:52 GMT

@Anonymous wrote:
Yfan...

Thank you for your reply. I did'nt mean to sound over anxious or anything but I heard that chase is very selective with new accounts! I have applied at chase in the past and have been declined everytime, granted at that point I was near my limits on other cards, high utilization, and only had one auto lease and no student loans or anything. Currently about two years later I have more on the table to offer. I know chase likes high credit scores, but mine are average, I was just wondering if anyone received this type of message and what it typically means. I want to merge my other credit cards onto the freedom. Thanks for your reply.

I don't think that your score and income alone will cause you to be denied, if that's what you mean. But your utilization might. If you have 40% utilization, prime lenders aren't too happy about that. Also, if you are carrying a balance, you should be looking for a balance transfer card that has 0% (such as Discover or Chase Slate) for an extended period of time and focus on paying down your debt until you can PIF every month. Because believe me, any 'rewawrds' you earn is dwarfed by the itnerest you are paying. Rewards cards only make sense if you can PIF every month - not just the rewards card, but all your cards.

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 15:59:38 GMT

Plastic_man...

I am going to do that. I was going to wait until tomorrow morning (Monday) that would be the 10 day mark. I will just call and speak to someone who can review my app (they will most likely review info, verify identity, and probably another hard pull).

I did notive that in the time that I have applied, chase has pull experian, TU, Equifax and they entered a hard pull on each. Since they did that I hope I get approved so the inquiries are atleast worth it. LOL!

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 16:00:18 GMT

@Anonymous wrote:
HeavenlyFlower...

I hope your right. I intially received the "please allow us 30 days to review your app" online, then received the "your app is still under review, we will notify you in writing within 5-7 days"...I did'nt receive any emails (not even one for thanks for applying) I am just still waiting. I don't really want to call them as of yet unless I have to, I figured if I get denied I will call for the recon, if I get approved I won't call at all unless the credit line is rewally low.

I am the same way with the 30 day (it kills me) lol. When you called, I wonder why they needed identity verification, when it was all verified when you applied. I also wonder why they did'nt just call you and ask for it instead of waiting so long.

Thanks for the positive input and support!

No problem They needed to verify my identity bc Experian put a fraud alert request on my reports that I didnt ask for when a fraudulent account was deleted. I dont think many lenders follow up with a call when something is needed, the norm seems to be that they automatically issue a letter and you sit waiting for it in the mail. No fun! But there's nothing wrong with being patient.

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 16:03:19 GMT

@Anonymous wrote:
Super_AL...
if you don't mind me asking...

What was you untilization percentage at?
What were your credit scores ballpark?

The only other card I have that did this app under review thing was discover and they approved me after 5 days for $1,000 limit.

Thanks for your input.

My utilization was at 22% at the time and my FAKO CK Score was 651 and i had 11 Hard Inquiries at that time..................i've been lucky i guess

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 16:06:02 GMT

Yfan,

I am not worried about my score income, I am more worried about the utilization...I have student loans at 16k, chase auto finance for 12k, hyundai financial lease for 15k, and I have $6,700 in available credit on all of my cards combined and only carrying about $300-$400 balance on each. I am hoping that Chase will overlook it and see that I pay on time with balance relatively low, plus I make multiple payments per month of each card. Only time will tell, but the wait just kills me. I am almost feel like calling today or tomorrow, but I don't want to call and blow it for myself...I think it might be best to let itself work itself out and call if I get declined.

Thanks.

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 16:09:54 GMT

HeavenlyFlower,

I forgot about that...I had a fraud alert for 90 days put on my credit report because while I was vacationing in Florida about three weeks ago, I came home to fraud on two of my cards, as a precaution I ordered new cards and equifax plaxe a fraud alert on my credit report for 90 days. Maybe I am in the same situation as you, I should probably just call and get it over with.

Anyone know if chase is open on Sundays?

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 16:12:35 GMT

Call them! Screw patience lol That sounds terrible but seriously if you're aware that there's an alert on your reports I would definitely call them. If I recall correctly when I called to transfer some of my Sapphire limit over to Freedom it was a Saturday.......I'm almost sure it was the weekend. You wont know until you call

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 16:17:03 GMT

HeavenlyFlower,

Calling now, will give you an update when I get off the phone. I hope I can BS my way through this lol.

Wish me luck, speak to you soon.

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 16:33:45 GMT

Heavenly Flower,

I just called and was on hold for 10 minutes, customer service rep would not transfer me to an account specialist, but she did look up my account. She said the system reflects that the application was received and it has been processed and that is currently pending review in th lending department ...before they send out the final decision. She said that I should recieve a letter in the mail within five business days from today or my card with the details within five days if approved. That is sort of good news because it means that I was not immediately declined and I am still not declined currently, but there is a possible that I can be. I guess I was passed through the original process or approval and now they are just going to determine a credit line limit if approved. I wish they could have just given me an answer right now...she was a really nice woman, but her exact words where, "I see in the system that the application has been processed, and it currently being reviewed by the lending dept" and then she said "you should receive your card or a letter stating why you were declined within five business days from today". To me it sounds like I am going to get declined or at the very least given a crapy credit line. I asked her for a reconsideration number in the event that I do get declined and she sounded shocked lol...

Re: Chase Freedom Application Response..."30 day wait"

Anonymous — Sun, 21 Sep 2014 16:37:56 GMT

I'm going to cross my fingers for you. My initial limit for the Freedom was $500, a month later I applied for Sapphire and that limit was 5k Not saying you will get a small starting limit but if thats the case then there's still hope. Think positive!