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Chase Freedom, Freedom Unlimited Application Help!

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Anonymous
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Chase Freedom, Freedom Unlimited Application Help!

Hello All,

 

Yesterday i decided to venture after the "Chase Trifecta". After alot of research i decided this would be best for me. I already have the CSP with a 25k limit so i just needed the Freedom and Freedom Unlimited. I applied for both at the same time yesterday and got the "30 day" email for both of them! I was pretty surprised because my credit is excellent and my initial approvel with the CSP was for 25k only a couple of months ago. This morning i decide to call the verification line. The gentlmen puts me on hold and comes back and was able to approve the Freedom Unlimited for an 8k limit. He put me on hold to work on the freedom and came back and said "There is no instant approval option on this one, you will receive a decision in 1 to 2 weeks." I guess this is a multiple question post. First, does that mean im denied for the Freedom? Why is my limit so low on the Freedom Unlimited compared to the CSP? I also noticed that the APR is wayyyyyyy higher on the Freedom Unlimited than on my CSP. (The card details are already avaiable on my account). 21.74 APR on the Freedom Unlimited VS 16.99 APR on the CSP! Im a little bit shocked about the APR, my credit limit, and the non instant approval. I have an excellent credit history. Also, im aware of the 5/24 rule and that wouldnt apply in this case. Any help is appreciated! Thanks in advance! 

Message 1 of 10
9 REPLIES 9
DeeBee78
Valued Contributor

Re: Chase Freedom, Freedom Unlimited Application Help!


@Anonymous wrote:

Hello All,

 

Yesterday i decided to venture after the "Chase Trifecta". After alot of research i decided this would be best for me. I already have the CSP with a 25k limit so i just needed the Freedom and Freedom Unlimited. I applied for both at the same time yesterday and got the "30 day" email for both of them! I was pretty surprised because my credit is excellent and my initial approvel with the CSP was for 25k only a couple of months ago. This morning i decide to call the verification line. The gentlmen puts me on hold and comes back and was able to approve the Freedom Unlimited for an 8k limit. He put me on hold to work on the freedom and came back and said "There is no instant approval option on this one, you will receive a decision in 1 to 2 weeks." I guess this is a multiple question post. First, does that mean im denied for the Freedom? Why is my limit so low on the Freedom Unlimited compared to the CSP? I also noticed that the APR is wayyyyyyy higher on the Freedom Unlimited than on my CSP. (The card details are already avaiable on my account). 21.74 APR on the Freedom Unlimited VS 16.99 APR on the CSP! Im a little bit shocked about the APR, my credit limit, and the non instant approval. I have an excellent credit history. Also, im aware of the 5/24 rule and that wouldnt apply in this case. Any help is appreciated! Thanks in advance! 


The CSP used to have a single APR for all customers, instead of the range. Everyone who was approved got the same APR. Now it goes up to 23.99%

 

The Freedom Unlimited is a lower-tier card, with different lending standards that might result in a higher APR for all customers across the board. You have 15 months of 0% APR anyways, so I wouldn't worry about it too much. 

 

As far as your limit with the Freedom Unlimited, you could be close to your internal lending limit with Chase. My brother in law has the Southwest card with a $17K limit, and got approved for the Amazon Prime Visa with a $500 limit, because he's at his lending limit for his income right now (student stipend). 

 

If you really want the Freedom, and you do happen to be at your internal lending limit, you could call up recon and ask them to take $5K from your CSP limit to create the Freedom. They're usually OK with this. 

 

I would be patient and see if a denial comes in the mail, before reaching out to the recon department. 

 

 

Message 2 of 10
Anonymous
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Re: Chase Freedom, Freedom Unlimited Application Help!

Thanks for the advice! 

Message 3 of 10
Anonymous
Not applicable

Re: Chase Freedom, Freedom Unlimited Application Help!

Alright so just an update. I called the backdoor number and was approved for the freedom for $8,000. They said they couldnt find an instant approval for the regular Freedom so i would just have to wait. I call the automated line today and get the dreaded 7-10 message. I decide to call back and the gentlmen asks me some questions and says i can approve it now and we can take some credit from your other cards and apply it to this one, or i can send it to a secondary review if you dont want to lose credit on your current cards. I picked the secondary review option although now i am starting to regret it. I feel like i should have just taken the approved when i had it! Anyone have any experience with this? What should i do now!? TIA

Message 4 of 10
DeeBee78
Valued Contributor

Re: Chase Freedom, Freedom Unlimited Application Help!


@Anonymous wrote:

Alright so just an update. I called the backdoor number and was approved for the freedom for $8,000. They said they couldnt find an instant approval for the regular Freedom so i would just have to wait. I call the automated line today and get the dreaded 7-10 message. I decide to call back and the gentlmen asks me some questions and says i can approve it now and we can take some credit from your other cards and apply it to this one, or i can send it to a secondary review if you dont want to lose credit on your current cards. I picked the secondary review option although now i am starting to regret it. I feel like i should have just taken the approved when i had it! Anyone have any experience with this? What should i do now!? TIA


It sounds like he was nudging you towards the reallocation, and to me that sounds like a denial unless you want to move some of your existing limits. You can always recon when you get the denial letter, and offer to move some of the limit then. Taking $5,000 from your CSP would be my choice. 

Message 5 of 10
Anonymous
Not applicable

Re: Chase Freedom, Freedom Unlimited Application Help!

Gotcha. So just an update here. I haven't heard anything else but when I log in to my chase I see the freedom there now with the same limit as my freedom unlimited. Does that mean I'm approved?
Message 6 of 10
DeeBee78
Valued Contributor

Re: Chase Freedom, Freedom Unlimited Application Help!


@Anonymous wrote:
Gotcha. So just an update here. I haven't heard anything else but when I log in to my chase I see the freedom there now with the same limit as my freedom unlimited. Does that mean I'm approved?

 Yep. Sounds like you made it through. Congrats!

Message 7 of 10
Anonymous
Not applicable

Re: Chase Freedom, Freedom Unlimited Application Help!

😁😃<____!!!!!!!!NOIIICE!!!!!!!_____>😃😁





Message 8 of 10
Anonymous
Not applicable

Re: Chase Freedom, Freedom Unlimited Application Help!

Awesome! Thanks!

Message 9 of 10
Anonymous
Not applicable

Re: Chase Freedom, Freedom Unlimited Application Help!

Wow thanks!!


@DeeBee78 wrote:

@Anonymous wrote:
Gotcha. So just an update here. I haven't heard anything else but when I log in to my chase I see the freedom there now with the same limit as my freedom unlimited. Does that mean I'm approved?

 Yep. Sounds like you made it through. Congrats!


 

Message 10 of 10
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