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19 Years Old - Chase Freedom or Chase Sapphire Preffered?

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Anonymous
Not applicable

19 Years Old - Chase Freedom or Chase Sapphire Preffered?

I applied for my first Credit Card, the BofA cash rewards card on my 18th birthday and got immediately approved with 500$ credit. Last month my credit line recently got raised with them to $2300. Considering I turned 19 two months ago, I have 1 year 2 months of Credit History.

 

I also took a loan for my iPhone through CitizensOne(Apple) that only did a hard pull but doesn't report. BofA says my FICO 8 Score is 717 via TransUnion, and Experian.com says I have a 735. Because my credit limit also just went up, I'm expecting my scores to go up with this next reporting date.

 

I'd very much like to open a Chase credit card, and I was deciding between the CSP or Freedom. Because my income is around 20 thousand a year as I'm a full time student, I'm more wary of applying for the CSP. Since it's a VISA signature only, I've heard the minimum credit limit is 5000$ and Chase likes to match other limits apparently(but my highest is 2300$). If I was able to get the CSP, I would get the 600$ welcome bonus, then call and ask to downgrade to the Chase Freedom after a few months. Rather than that, I can be safer and try to apply for the Chase Freedom and only get the 200$ bonus.

 

Any advice on how to approach this?

18 REPLIES 18
Jnbmom
Credit Mentor

Re: 19 Years Old - Chase Freedom or Chase Sapphire Preffered?

@Anonymous 

 

Have you checked Chase's prequalify site, that's the first thing I would do.

EXP 780 EQ 796 TU 810
Message 2 of 19
Girlzilla88
Valued Contributor

Re: 19 Years Old - Chase Freedom or Chase Sapphire Preffered?

I would opt for the Freedom first and build to get to the CSP if that is the main card you want or if you just wanted to the CSP because of the 'higher SL' etc you may be surprised at some SL Freedom gives/offers.   Also there isn't a Hard hit that doesn't report if it's a Hard hit it will show up it may just take it a moment to pop up lol.      I would keep an eye out in the next few months (1-3) for it to show up 







Message 3 of 19
Aim_High
Super Contributor

Re: 19 Years Old - Chase Freedom or Chase Sapphire Preffered?

Concur with  to check the prequal website.

Chase is a conservative lender and doesn't like thin files.

Don't waste a cold app and a HP at this point with them.

I personally think yours is much too thin still for even a decent chance at a lower-tier Freedom or Slate card.  Your odds of approval for a CSP are almost nil now, in my estimation.  With a $2.3K top limit, Chase will never approve you for a $5K minimum card.  They don't like to be your highest limit. 

I suggest diversifying with more liberal lenders and growing your limits before even apping for a Freedom.  If you were to get approved by Chase too early, you'll get a low limit, high APR, or both.   Be patient and you'll be rewarded for it.

As conservative as BofA seems to becoming, you did well to get their CR card first. You must bank with them??  Value that card. It should grow in time pretty well if you tend to it nicely.

I would suggest you app with Capital One or Discover next and age your file. 

Or perhaps apply with whoever you have bank accounts with if it is not BofA. 


Business Cards


Length of Credit > 42 years; Total Credit Limits > $947K
Top Lender TCL - Chase 156.4 - BofA 99.9 - CITI 97.5 - AMEX 95.1 - NFCU 80.0 - SYCH - 65.0
AoOA > 32 years (Jun 1993); AoYA (Oct 2024)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 4 of 19
Meanmchine
Super Contributor

Re: 19 Years Old - Chase Freedom or Chase Sapphire Preffered?

IMO Freedom

>3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>7/2025 All 3 reports 830 - 845(F8) F9s = all 850 but my app finger is still twitching
Message 5 of 19
Anonymous
Not applicable

Re: 19 Years Old - Chase Freedom or Chase Sapphire Preffered?

Perhaps since you're a Student, you might consider their Student card. Using that to get your foot in the door, could lead you to getting the CSP earlier. 

Message 6 of 19
Girlzilla88
Valued Contributor

Re: 19 Years Old - Chase Freedom or Chase Sapphire Preffered?

On a side note I did get my FU at the one year mark so it's possible but I would follow the other advice with the Student or checking prequalify first Smiley Happy     







Message 7 of 19
gjean78
Regular Contributor

Re: 19 Years Old - Chase Freedom or Chase Sapphire Preffered?

since you state that you're a student, you might as well apply for their student card to get your relationship going with them that way u give yourself a better chance at the CSP card.


Message 8 of 19
Aim_High
Super Contributor

Re: 19 Years Old - Chase Freedom or Chase Sapphire Preffered?


@Anonymous wrote:

Perhaps since you're a Student, you might consider their Student card. Using that to get your foot in the door, could lead you to getting the CSP earlier. 


I was actually not even aware that Chase offered a Student card until I searched for it.  The "Student" card is not on their regular credit card offerings page, so I had never seen it!  But if you search for "Chase Bank Student credit card" or "student banking" they have student options for checking, savings, and a Freedom Student credit card.  I agree this would be much more feasible at this point in time if you don't want to wait to establish a Chase relationship.  But I would suggest you wait until you consider applying even for a Freedom or Freedom Unlimited, much less a Sapphire Preferred.  With a little good history on the Student card, you'll stand an excellent chance with a regular card in another year or so.  


Business Cards


Length of Credit > 42 years; Total Credit Limits > $947K
Top Lender TCL - Chase 156.4 - BofA 99.9 - CITI 97.5 - AMEX 95.1 - NFCU 80.0 - SYCH - 65.0
AoOA > 32 years (Jun 1993); AoYA (Oct 2024)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 9 of 19
randomguy1
Valued Contributor

Re: 19 Years Old - Chase Freedom or Chase Sapphire Preffered?

Not only that you don't have a high enough limit to get the CSP, the income is also a bit low. I'm not sure you can meet the minimum spend for the SUB. It would be a shame if you can't spend 4K in 3 months and lose out on 60k UR pts. 

Message 10 of 19
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