I have a friend wanting to app for it.
AAOA: 2 Months
3 open cards right now, one with 90% UT ($450/$500)
She got her first card about 6 months ago, she officially has a FICO score as of this month we just checked.
FICO score is 625.
I know the obvious, she could easily increase her score by 30+ points by just paying down the card with high UT, but in the meantime do you think 625 is sufficient for the FU?
Her current cards are:
Discover ($450/$500) 6 months
Victoria's Secret 1 month
Forever 21 1 month
Scores are only one part of it. They're going to see the maxed out Discover card and say no.
Extremely slim chances of approval. On top of the maxed out utilization on that one card, AAoA of 2 months is about as good as having no history at all, something Chase doesn't like.
Freedom is not easy, at least not in my experience. I applied in April with 720 EX and decent income, I only had 1 CC reporting at the time, a 2.5 yr old Costco Amex/Citi but I do have a mortgage with 14 yrs of perfect payment record. I had 1 open collection for $50 (copay) that I didn't even know existed until I signed up to CK to check my score for the first time ever in March, I immediately negotiated a payment for removal with the collection agency but it was still on my report at the time when I applied. I was instantly approved with the same profile by BCE and QS for 10k each but Freedom only gave me 1k and a ridiculous APR, I was barely approved after security verification. 3 days after I applied, the collection came off my EX and it jumped to 825, I called recon and offered another inquiry for new terms but they wouldn't entertain, I ended up closing that account before activation and reapplied a month and a half later, and even with an 800+ score and a clean record though a little thin, they gave me 7k and a middling APR. When I pulled the trigger a month later for both Amex Simply Cash and Ink Cash, Amex gave me a 20k instant approval and Chase made me jump through hours and hours of recon spread through 2 weeks before begrudgingly approving me for 5k even though my business record is beefier and cleaner than my personal.
Chase by far has been the most difficult to obtain in my short experience with credit,
Now I feel young again!
My goal, besides beefing up my profile, was to assemble a group of cards to take ove my debit card resonsibilities while maximizing cash back, Freedom fits bill.