Chance of getting 2nd Chase card? (Student/low income)

[Anonymous]

Hi everyone, here's the deal. It's coming up on a year since I was approved for my Chase Freedom (700+ credit score, bit over $9k income from summer job, $500 SL and current limit). This summer I have the exact same income, so I want to continue building up my relationship with Chase, grab a Freedom Unlimited, and hopefully get another $500 to help out my utilization.

Am I likely to be approved for another $500 (believe this is Chase's lowest limit) given that I only currently have $500 in tradelines from them? I'm not sure how risk averse they are, but I would imagine they are a bit at least, but I would also have a year of solid payment history with them to show, since I pay off my bill every month. My Discover has been pretty inactive since I got the Freedom, and I'm not running up huge statements on the Freedom either, generally around $100 a month but the past few months have been trending closer to $50. My student loans are still in deferment.

Thoughts appreciated, thanks.

[FinStar]

Aside form your student loans, are Chase and Discover the only revolving accounts?  What is the limit and how old is your Discover card?   Have you by chance tried the Chase pre-qualification portal?

[Anonymous]

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@FinStar wrote:

Aside form your student loans, are Chase and Discover the only revolving accounts?  What is the limit and how old is your Discover card?   Have you by chance tried the Chase pre-qualification portal?

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Yes, those are my only revolvers except for one Chase that I am AU on (didn't matter to lenders in my experience but it is paid in full every month).

Discover limit is $500 (SL and current), opened July 2019.

Just so it's in the same spot, my Chase Freedom limit is $500 (SL and current) opened July 2020.

I would be applying for the Freedom Unlimited next month once I have 2 paystubs, just in case they ask for income verification.

I just tried the Chase prequal tool, no offers on there.

[FinStar]

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@Anonymous wrote:

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@FinStar wrote:

Aside form your student loans, are Chase and Discover the only revolving accounts?  What is the limit and how old is your Discover card?   Have you by chance tried the Chase pre-qualification portal?

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Yes, those are my only revolvers except for one Chase that I am AU on (didn't matter to lenders in my experience but it is paid in full every month).

Discover limit is $500 (SL and current), opened July 2019.

Just so it's in the same spot, my Chase Freedom limit is $500 (SL and current) opened July 2020.

I would be applying for the Freedom Unlimited next month once I have 2 paystubs, just in case they ask for income verification.

I just tried the Chase prequal tool, no offers on there.

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Ok, your file may be a bit on the thinner side, but anything is possible with Chase.  Do you currently bank with them or elsewhere?

Is your Discover card unsecured?  If so, have you tried for a CLI?  These are SP btw.

[Anonymous]

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@FinStar wrote:

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Ok, your file may be a bit on the thinner side, but anything is possible with Chase.  Do you currently bank with them or elsewhere?

Is your Discover card unsecured?  If so, have you tried for a CLI?  These are SP btw.

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I bank elsewhere. Discover is unsecured.

I have tried for CLIs with Discover and haven't gotten them but I applied when my income was a LOT lower. In fact, I don't think I had any income that year and applied as such (most likely they approved me based on my bank account assets which were a few grand at the time). Because of this, plus the fact that Discover seems to be asking for 4056-T forms I have NEVER listed any more current incomes with Discover because I don't have 2 years of consistent tax returns supporting it yet. (When I login now there is a button to update my income which I am ignoring, because if I do they will probably ask for 4056-T, not be able to verify my $9k income from last year and this year, and close my account.)

I am resigned to Discover sitting at least until my 2021 tax return is filed, then I will feel comfortable providing them with my $9k income figure because there is a paper trail to back it up. Not sure if I am being too paranoid with that but I do not want that account closed since it is my earliest card, and would also probably set off red flags with Chase.