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Applying for the Chase Freedom Card

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Anonymous
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Applying for the Chase Freedom Card

 

Hey everyone, 

 

I have only had a credit history for about a year and my first card was a PNC point’s credit card. I started with a $1,000 credit limit. After having the card for almost 11 months, I called and got approved for a $2,500 credit limit. I've done a lot of research and I really like the Chase Credit Cards. I applied for the Chase Freedom Unlimited a few days ago and was approved with a $2,500 credit limit. So now my combined CL is $5,000. My goal is to get the Chase Freedom (for the 5% rotating categories), and the ultimately the Chase Sapphire Preferred when I have enough credit history and a higher FICO score. I have a reported 25k income since I am a full time grad student and work on the weekends. In terms of hard pulls, I have one from asking PNC to raise my CL and one a few days ago from getting the Chase Freedom Unlimited. My credit utilization is around 25% and I pay off my bill multiple times during the month and always pay in full. I believe my Fico score is a 683 and my TransUnion is 715. I'm not sure of my other scores. Lastly, I have 0 student loans and have no payments on housing, etc.  

 

So my question: How soon should I apply for the Chase Freedom Card? I know those few hard pulls will hurt me a little but I want to make sure I do not get denied for this card. Also, would you recommend applying for the Chase Sapphire Preferred Card in a year if I get can my credit score up near 750? Thank you. 

 

 

 

 

Message 1 of 3
2 REPLIES 2
SecretAzure
Valued Contributor

Re: Applying for the Chase Freedom Card


@Anonymous wrote:

 

Hey everyone, 

 

I have only had a credit history for about a year and my first card was a PNC point’s credit card. I started with a $1,000 credit limit. After having the card for almost 11 months, I called and got approved for a $2,500 credit limit. I've done a lot of research and I really like the Chase Credit Cards. I applied for the Chase Freedom Unlimited a few days ago and was approved with a $2,500 credit limit. So now my combined CL is $5,000. My goal is to get the Chase Freedom (for the 5% rotating categories), and the ultimately the Chase Sapphire Preferred when I have enough credit history and a higher FICO score. I have a reported 25k income since I am a full time grad student and work on the weekends. In terms of hard pulls, I have one from asking PNC to raise my CL and one a few days ago from getting the Chase Freedom Unlimited. My credit utilization is around 25% and I pay off my bill multiple times during the month and always pay in full. I believe my Fico score is a 683 and my TransUnion is 715. I'm not sure of my other scores. Lastly, I have 0 student loans and have no payments on housing, etc.  

 

So my question: How soon should I apply for the Chase Freedom Card? I know those few hard pulls will hurt me a little but I want to make sure I do not get denied for this card. Also, would you recommend applying for the Chase Sapphire Preferred Card in a year if I get can my credit score up near 750? Thank you. 

 

 

 

 


Don't apply. Chase is difficult to get credit limit increases. They just approved you for $2,500 and there's a high probability that you won't get much more than that for a while (unless your income is high and supports larger limits). For this reason, I would wait...a long while. In fact, I would apply for another card that grows fast to build your total credit worthiness and then a year after that other card apply for Chase Freedom. This is a really good card and I get a LOT of benefit out of it but if I had been approved at such a low limit I would hardly find it useful.

 

My Plan for you:

1. Apply to either Amex BCE or Amex ED (which ever one you think better suits your needs)

2. Wait 61 days (some debate exists about this) and ask for a credit limit increase...up to 3 times your initial credit limit

3) Wait 6 months after day 61 and apply for another credit limit increase

By this time you should be knocking around $12,000 credit limit on this card (provided you continue to make under 20% utizilation on your cards and make all payments on time)

4) Wait until your Amex ages 1 full year (this lets your Amex and Freedom Unlimited inquiries age past 1 year) and apply for Chase Freedom

 

With this strategy your initial limit will be much higher on the Freedom and you'll have a thicker profile with solid history. Amex is, in my opinion, the best way to build your total credit limits fast.

 

*Still, wait for feedback from others here before jumping on my plan* YMMV

"Show your thanks with action! Hit the "Kudos" button (the stripe with the star) for every post you find helpful to show your appreciation to the community of great individuals who help you on these forums" -Me

Active Cards: Chevron Texaco, Amex BCE, Barclays Ring, Chase Freedom, Chase Freedom Unlimited, Best Buy Visa, Marvel MCMust garden until 2/1/2022 to hit my goal AAOA. Smiley Indifferent
Message 2 of 3
Anonymous
Not applicable

Re: Applying for the Chase Freedom Card

Thanks for the info. I'm still pretty young and new to this so it helps hearing about other people's opinions. 

Message 3 of 3
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