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Chase Freedom App Income Verification

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New Visitor

Chase Freedom App Income Verification

Hello!

This is my first post, but I wanted to see if anyone had thoughts about my situation. I had searched here about the letter Chase sent me, and it seemed like no one had posted specifically about a letter needing more information about income and financial obligations.

 

So, I have a decent credit history (I will put my cards below) and no credit cards with Chase. I previously had a checking and savings account with them for about 1 year, closed about 1 year ago.

 

I went to www.chase.com/prequalified to see if I would be able to get the Chase Freedom card (and take advantage of the 0% interest intro offer).

I put in my information, and I was preapproved for the Chase Freedom. Just the card I wanted. So I submit a full application. After I hit submit, it says that they need to talk with me right away about my income and financial obligations to make a decision. I was not able to call at that moment, and I planned on calling them later, but when I went back the page was blank - so I didn't have my reference number or the specific phone number they asked me to call. I waited for the letter to come in the mail with the information. While I waited for the letter, I used the automated Chase line 800-432-3117 to check my application status which kept saying I would hear from them in about 2 weeks (which I read here is a good sign).

 

When the letter finally came in the mail, it seemed to say pretty much the same thing as the website right after I applied. But I noticed something strange, the letter said:

 

Thank you for applying for the CHASE FREEDOM Visa Signature credit card. We reviewed your application and need more information about your income and financial obligations to make a decision. Call 877-260-0087 with reference number.

Without the additional information, we'll have to make a decision on your application with only the information we currently have.

 

The strange thing is the letter said Visa Signature, which I never specifically applied for. 

 

So I decided to call the number and answer their questions. When I called, the Customer Service worker who answered the phone said "I see you applied for the Chase Freedom Unlimited card." I said "No, I think I applied for the Chase Freedom..the regular one." And then he said "Oh I am sorry, I see you applied for the Chase Freedom Preferred card." I said "I don't remember preferred; I just applied for the regular Chase Freedom," and he said " Well that is what I have here."

Then he went on to verify my identity with a couple questions and then said he would have to ask me some income questions. He repeated everything it asks on the website, and asked me the exact same questions the online application asked about income. The only additional question was "what is the source of your total gross annual income" which I asked "Do you want the name of my company?" And he said "No, I mean is it salary, self-employed, alimony, etc?" I answered salary. Once I answered his questions he said it would be a couple moments to run the application. He came back a few minutes later and said it was taking longer and I should keep waiting. When he came back again he said I was approved with a $2,100 CL. 

 

I am still waiting for my card to come in the mail and see exactly which card I really got.

 

My main questions are:

Why did I need to call to answer the exact same income questions as the application? (my letter was different than people who need to answer questions to verify their identity)

Did I even need to call? Would I likely have been approved with just the original online application?

Why does my letter say Visa Signature, but my limit is too low for it to actually be Visa Signature?

What is Chase Freedom Preferred?

 

 

 

 

My cards:

Barclaycard with iTunes Rewards Visa (the old black one): 2.8K

Bank of America Cash Rewards (1/2/3) Visa Platinum Plus: 2.9K

Capital One QuickSilver Visa Signature: 13K

Citi/AAdvantage Platinum Select World Elite MasterCard: 8.6K

 

Credit Score: 768 (TransUnion), 737 (Equifax)

Utilization 7%

Average Age of Credit History 4y6m

Hard Inquiries: 2 (TransUnion, what Chase pulled), 5 (Equifax)

TransUnion 768 | Equifax 737
Barclaycard with iTunes Rewards Visa 2.8K | Bank of America Cash Rewards Visa Platinum Plus 2.9K | Capital One QuickSilver Visa Signature 13K | Citi/AAdvantage Platinum Select World Elite MasterCard 8.6K | Chase Freedom 2.1K
Message 1 of 4
3 REPLIES 3
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Regular Contributor

Re: Chase Freedom App Income Verification

Is there a chance you selected something in the employment/income drop-down (is it a drop down? I can't remember) that might have set-off the need to verify info?

 

There is conjecture about the calling vs not calling thing and Chase apps...I had to call for all 4 Chase cards I opened last year (they were identity related issues though). Hard to say if you would've been approved or not, it would depend on how you answered everything online, I suppose.

 

I'm pretty sure I've heard of people getting VS cards with <5k limits

 

Chase Freedom Preferred...hmm...never heard of it...maybe your CSR was having a bad day?

 

Regardless of all that...congrats on the approval! Keep us posted...and let us know if you get an auto CLI by some miracle...they seem awfully hard to come by.

 

 

Message 2 of 4
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Valued Contributor

Re: Chase Freedom App Income Verification

VS used to be for higher limit only. But lately companies have been approving them for low limits because EVERY card is now a VS. it's like they aren't special or a big deal anymore. As much as I love USB and the Cash+ card-they give a VS with 500 limits now.

So it is very possible a $2100 limit is a VS.
either way congrats on the approval. If you get the Unlimited I think you are stuck until they let you pC.
FICO 09 TU= 787 (Aug) EQ= 774 (Aug) EX= 801 (Aug) Favorites: Citi DC, AMEX Gold and U.S. Bank Cash+
Message 3 of 4
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Moderator

Re: Chase Freedom App Income Verification

As you are trying to get a few answers I have moved this to the Apps forum for better help. Welcome to the board and grats on your new card Smiley Happy
Message 4 of 4
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