Thinking about applying for Chase Freedom

[GoldSorata]

I wasn't considering Chase for another couple years since i had a CO with them back in 2008. However I just recently opted in and happend to check their prequal site and the Freedom comes up (with 22.9 APR though I don't care about APR since I pif anyway)

Hearing that their prequal site can be pretty solid I'm wondering if I should give it a try since they have the $200 promo running for a few more days.

Only thing is in the past 12 months I've gotten 6 revolvers (2 CCs and 4 store cards). I've heard about their new policy, however they did prequal me. Would love to get back in with them.

My current total utilization is about 6%.

My EX is currently 740 with 2 inqs and my TU is 719 with 7 inqs. I hear that they tend to pull TU when apping through a prequal. Baddies on EX are 2 defaulted student loans (that have since been rehabilitated) that will drop off next year and a few 30 dates on a paid auto loan from 2009/2010. TU has the same baddies plus a paid CO for a CU CC I had. That's set to fall off in just over 6 months.

The other thing is my Discover limit hasn't updated on my reports for the CLIs I've gotten recently so it's still reported as $1500. Was thinking if it did report my newer $7500 limit that would help get a better limit if I apply for the Freedom.

Thoughts?

[Anonymous]

Well your profile might normally support it but almost 0% chance with those new accounts unfortunately....we have yet to see anyone get approved with more than 5 new individual accounts since the beginning of June as far as I know

[GoldSorata]

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@Anonymous wrote:
Well your profile might normally support it but almost 0% chance with those new accounts unfortunately....we have yet to see anyone get approved with more than 5 new individual accounts since the beginning of June as far as I know

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Yeah, that was my concern. Wonder why they would prequal me if they have that limitation now?

[Anonymous]

Good question...I had all three of there cards show for me up until right around the time they changed their new card policy and now I don't prequal for anything even though without the new accounts I should easily get approved for any of them

Is it worth possibly two hp's to find out? If so make sure to let us know

[GoldSorata]

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@Anonymous wrote:
Good question...I had all three of there cards show for me up until right around the time they changed their new card policy and now I don't prequal for anything even though without the new accounts I should easily get approved for any of them

Is it worth possibly two hp's to find out? If so make sure to let us know

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I will definately report back if I decide to apply. I've got 2 days to make a decision (then the $200 bonus goes back to $100).

[kdm31091]

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@GoldSorata wrote:

I wasn't considering Chase for another couple years since i had a CO with them back in 2008. However I just recently opted in and happend to check their prequal site and the Freedom comes up (with 22.9 APR though I don't care about APR since I pif anyway)

Hearing that their prequal site can be pretty solid I'm wondering if I should give it a try since they have the $200 promo running for a few more days.

Only thing is in the past 12 months I've gotten 6 revolvers (2 CCs and 4 store cards). I've heard about their new policy, however they did prequal me. Would love to get back in with them.

My current total utilization is about 6%.

My EX is currently 740 with 2 inqs and my TU is 719 with 7 inqs. I hear that they tend to pull TU when apping through a prequal. Baddies on EX are 2 defaulted student loans (that have since been rehabilitated) that will drop off next year and a few 30 dates on a paid auto loan from 2009/2010. TU has the same baddies plus a paid CO for a CU CC I had. That's set to fall off in just over 6 months.

The other thing is my Discover limit hasn't updated on my reports for the CLIs I've gotten recently so it's still reported as $1500. Was thinking if it did report my newer $7500 limit that would help get a better limit if I apply for the Freedom.

Thoughts?

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To be honest, with having a Discover, the Freedom is IMO superflous. You don't have a CSP or anything to leverage the UR points with, so for you, Freedom is going to be a cash back card. And for that purpose, side by side with Discover, it's the weaker of the two.

Freedom's categories are almost always less broad than Discover -- Freedom's will be something like Lowe's, Starbucks, Amazon.com, whereas Discover's would be Home improvement stores or online shopping in general. Having both to me is unnessecary especially when you are really not even sold on applying.

You do what you feel is best but strictly on their own merits I think having both is a waste of an application.

[GoldSorata]

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@kdm31091 wrote:

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@GoldSorata wrote:

I wasn't considering Chase for another couple years since i had a CO with them back in 2008. However I just recently opted in and happend to check their prequal site and the Freedom comes up (with 22.9 APR though I don't care about APR since I pif anyway)

Hearing that their prequal site can be pretty solid I'm wondering if I should give it a try since they have the $200 promo running for a few more days.

Only thing is in the past 12 months I've gotten 6 revolvers (2 CCs and 4 store cards). I've heard about their new policy, however they did prequal me. Would love to get back in with them.

My current total utilization is about 6%.

My EX is currently 740 with 2 inqs and my TU is 719 with 7 inqs. I hear that they tend to pull TU when apping through a prequal. Baddies on EX are 2 defaulted student loans (that have since been rehabilitated) that will drop off next year and a few 30 dates on a paid auto loan from 2009/2010. TU has the same baddies plus a paid CO for a CU CC I had. That's set to fall off in just over 6 months.

The other thing is my Discover limit hasn't updated on my reports for the CLIs I've gotten recently so it's still reported as $1500. Was thinking if it did report my newer $7500 limit that would help get a better limit if I apply for the Freedom.

Thoughts?

---

To be honest, with having a Discover, the Freedom is IMO superflous. You don't have a CSP or anything to leverage the UR points with, so for you, Freedom is going to be a cash back card. And for that purpose, side by side with Discover, it's the weaker of the two.

Freedom's categories are almost always less broad than Discover -- Freedom's will be something like Lowe's, Starbucks, Amazon.com, whereas Discover's would be Home improvement stores or online shopping in general. Having both to me is unnessecary especially when you are really not even sold on applying.

You do what you feel is best but strictly on their own merits I think having both is a waste of an application.

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Thanks for that. Yeah, it is true the Freedom is a Discover clone. Seeing that prequal enticed me for two reasons, I saw I actually might have a chance to get back in with Chase and begin a postive hisotry with them and they happen to be having their $200 sign up bonus. While sign up bonus alone to me is a bad plan to get a card, I figured it would offset pushing off apping for the 2 cards that are my goal for now, the Sallie Mae and the Fideltiy Amex. One of the reason I want the Sallie Mae is for gas and the Freedom happens to have gas as their 5% category this coming quarter. If I went with the Freedom I'd then wait until early next year to go for those two cards. Otherwise my oriiginal plan was to app for those two in August (that's when my oldest cards will be a year old and my youngest 3 will be at least 6 months old.

So really it all comes down to do I want to attempt to get back in with Chase, and will that alone be enough reason to attempt an application? I'm still mulling that over.

[baller4life]

With their new 5 apps in 2 years policy I wouldn't waste the hps .

[Anonymous]

Go for it, I've never seen anyone who was pre qual get denied. As long as nothing has changed since you got the pre qual then, I think you have a good chance.