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Chase Freedom Chances?

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SoCalifornia
Frequent Contributor

Re: Chase Freedom Chances?

Well then, none of all that matters. If you're approved for the Venture, then that's a great travel reward card to have.


Message 21 of 38
ChargedUp
Senior Contributor

Re: Chase Freedom Chances?


@Anonymous wrote:

I already have the Citi card wouldn't discover be a downgrade from them? I don't need the money of additional cash back and my goal is to build to either the Chase or Amex travel cards. Why is Discover Chrome Miles higher tier than Capital One? I don't get the global entry credit with discover it seems so that alone makes Capital One worth it for me. 


Discover isn't a downgrade from anything. It's a solid card that will usually give you a decent SL on a clean, thin file.

 

There are certain lenders that will take a chance on people with very little credit. You fit that category, and Discover is one of the best lenders when it comes to this. We understand you are going to Africa, and you desire to get into the Chase UR points system. Chase is not known for being thin file friendly which is why you're being steered towards other cards that will thicken your credit file and prepare you for Chase. A year with Citi and Discover under your belt, and you should be able to get any Chase card that your income supports.

 

 

Message 22 of 38
SoCalifornia
Frequent Contributor

Re: Chase Freedom Chances?

The CSP is of course always a possibility. The point here that's trying to be relayed is, even if you have zero debt and a high score, that doesn't guarantee anything- especially with Chase. But a healthy growing CR weighs heavily with Chase. And I would be careful with the AU status. If that's what is boasting your zero debt and super hero 780- FICO8, then Chase won't give two schitzles.


Message 23 of 38
Anonymous
Not applicable

Re: Chase Freedom Chances?

@midknightocd 

 

Yes I understand, thats why I'm shying away from chase for the moment. I was hoping to get a freedom card as one of chase starter cards and build from there. However, being that Chase won't recognize me as a 780 and Capital One will I'm considering just getting the Venture card instead. That way once my personal credit file becomes stronger I can then get my three Chase cards. The Venture card would give me a nice signup bonus to pay for my flight to Africa and give me global entry for that trip for no annual fee in the first year. It will also help me build my credit to get to the chase card I want long term. So I feel it makes a lot of sense. I have a lot of cash sitting in capital one bank accounts so I don't think they will be to worried about me not paying my debts. 

 

Beyond this year most of my expenses are food and train costs. Sapphire Reserve with their dinning and travel 3X would make a lot of sense for me. If I can't start building a relationship with them via the Freedom card I could build my credit report with the Citi Double Cash and Capital One Venture card. Downgrade my Venture card to a ventureone card in the second year and go after my Chase cards. I could get the Discover IT miles instead of the Venture but I want global entry and I'd get double miles versus 1.5X so I feel this makes more sense. Is this a solid plan or am I offbase? I don't think the low tier cards such as secured card or the cap one platinum make any sense for me being that I have a better card to build credit with already with the Citi Double Cash and Capital One will consider my authorized user status for the Venture Card being that I prequalify. 

Message 24 of 38
Anonymous
Not applicable

Re: Chase Freedom Chances?

@ chargedup 

 

I understand I have a thin file but when considering my AU status (which chase doesn't I understand) I have a 36 year credit card history (older than I am lol). I prequalify for the Venture and that card makes a lot more sense for me than the Discover IT miles as I outlined above. Why couldn't I build with the Venture and Double Cash versus the discover? I would prefer the Venture due to Global Entry and nicer signup bonus and I prequalify. 

Message 25 of 38
SoCalifornia
Frequent Contributor

Re: Chase Freedom Chances?

Sounds like you already have a plan. The Venture is a solid choice. Update us on the app! 👍🏽


Message 26 of 38
Anonymous
Not applicable

Re: Chase Freedom Chances?

@midkinghtocd 

 

Yes I have a plan! I just wanted to know what people thought of it and if it makes sense. I wanted to get Chase cards first due to 5/24 and wanted to get into the ecosystem with the Freedom card. However, based on the feedback I recieved here that won't work due to my thin file. So basically my question at this point is does it make more sense for me to just roll with the double cash for a year and then apply for Chase cards so I stay safely under 5/24 or do I try and grow my file with the Venture Card and the Double Cash and use the Venture Card signup bonus to pay for my school trip to Africa next year. Or does another card make more sense. I understand people recommend discover but I don't understand how that makes more sense than the Venture nor am I concerned about getting approved for the Venture. Although I'm going to wait a month or two to apply for the venture when I have the ability to meet the min spend. Will come back to this thread and update! If I was able to get the Freedom I would apply now but being that I can't I'm going to wait. 

Message 27 of 38
HighAchiever
Established Contributor

Re: Chase Freedom Chances?

I think I get why you are still trying to figure out which path to take, because you are trying to make a decision that will ultimately assist in your trip. What I am thinking you are not understanding, is that various members are attempting to answer and point you in what they believe is a helpful direction. I don't believe anyone knows exactly what your SL with the Venture card (or any card for that matter) will be, or if you can even get a specific card.  But the reason a Discover card is suggested, I believe, is because based on the information you have provided. They are more likely to approve you and give you a descent SL, that in the bigger picture, will place you on a better path for success with your credit wants later. Now, of course you can do what you please and it may still work out for you, but the experience in this forum suggests otherwise. Please let us know if your decided choice works, or even if it doesn't... Good luck and enjoy your trip! Smiley Happy

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Message 28 of 38
Brian_Earl_Spilner
Credit Mentor

Re: Chase Freedom Chances?

The venture makes sense for you because you're unwilling to choose a points sytem yet. Don't jump the gun with amex as it seems like you're leaning towards Chase. As for the downgrade, you'd be better off PCing to the Quicksilver or savor. Venture1 will be 1.25% cash back equivalent while the Quicksilver will be 1.5%. Benefit of the Quicksilver is it's straight up cash versus using your 1.25% for only travel related purchases. Since you have the double cash, I would try to PC to the Savor1 instead and fallback to the Quicksilver if needed. As for the IT Miles, don't discount it so quickly. First year match will make it a 3% card which, depending on how much you spend, could get you more than the Venture and it's global entry.

    
Message 29 of 38
Brian_Earl_Spilner
Credit Mentor

Re: Chase Freedom Chances?


@HighAchiever wrote:

I think I get why you are still trying to figure out which path to take, because you are trying to make a decision that will ultimately assist in your trip. What I am thinking you are not understanding, is that various members are attempting to answer and point you in what they believe is a helpful direction. I don't believe anyone knows exactly what your SL with the Venture card (or any card for that matter) will be, or if you can even get a specific card.  But the reason a Discover card is suggested, I believe, is because based on the information you have provided. They are more likely to approve you and give you a descent SL, that in the bigger picture, will place you on a better path for success with your credit wants later. Now, of course you can do what you please and it may still work out for you, but the experience in this forum suggests otherwise. Please let us know if your decided choice works, or even if it doesn't... Good luck and enjoy your trip! Smiley Happy


I'm actually recommending the IT Miles because he hasn't picked a points system yet. That or the Venture will beat suit him right now. That being said, OP, Chase doesn't like being the highest limit, while Discover can grow quickly and does like being the highest limit. Getting a Chase after a high limit Discover would be beneficial as Chase would most likely try to match your highest limit up to 50% of your income. Actually, guess that should have been mentioned earlier. The highest limit you'll get from Chase will be up to 50% of your income, so you'll want to wait until you have a higher salary before applying with them.

    
Message 30 of 38
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