When to app for Chase Freedom

[Anonymous]

Captool, great point.

[Anonymous]

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@Anonymous wrote:

Bear in mind Chase's new policy allowing a maximum of five new cards issued by any lender in the last two years. If you wait, just make sure you don't exceed that number. 

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Do the 5 cards include the additional card you are applying for or is it 5 cards and you can still app for 1 additional card with Chase? And how about AU's, do they count towards the 5 cards as well?

[Anonymous]

ts89,

As I understand it's 5 cards total which includes the one (CS) that I was just approved for.  And that includes all types of cards (store or credit).  If I'm wrong, please someone correct me. So my plan is always keep the util around 10%; wait 3 months, or so, & app for CSP; garden another 3-6 months then app with Discover, go back to gardening another 3-6 months and repeat the process. I'm looking for a slow, steady climb of acquiring enough so that it's affecting my scores positively.

My story is prior to joining the forum I had no idea that low util was preferrable to Fico algorithms if you want your score to increase. So I was maxing out my cards and paying substantial payments thinking that showing the ability to pay on high util was the thing to do (boy was I wrong). Thanks to the forum I was set straight only wish I had known beforehand. Live and learn, I guess.

[Anonymous]

To add to the above, no, AU's don't count.

[Anonymous]

I keep hearing about specific interest rates to show on the Pre-Qual. Does that just show in the pricing and terms?

[Anonymous]

Thanks, so I will make sure that I will have applied for 4 cards max. when I will apply for the Freedom later this year.

[celticslegends]

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@Anonymous wrote:

Bear in mind Chase's new policy allowing a maximum of five new cards issued by any lender in the last two years. If you wait, just make sure you don't exceed that number. 

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If have 5 new cards in a 2 year period, Chase will not approve you at all? Is this true?

[OmarGB9]

^more than likely they wouldn't approve you. If you feel bold you can go ahead and try, and while some people have gotten in, most people don't because of that rule.