Ok, so I have now obtained my 3rd revoloving credit card and this card represents my first offering of credit outside the realm of US Bank. My Fico is now 687, having just recently taken a dramatic turn for the positive after I was given the US Bank Cash 365 Amex card in addition to the Cash+ credit card. To be honest, I was previously feeling fairly content with the credit situation with 2 credit cards, but at the suggestion of some of the folks on this forum I decided that it was not the wisest of moves for me to have all of my credit residing with just one lender. US Bank also has the signature loan for my used vehicle purchase, which I will pay off relatively soon. They had a stipulation that I had to pay on this loan for a year before paying it off.
I did a little bit of shopping around and decided to apply for this card from Chase. The initial application took place online, and it was roughly 10 working days or so and I recieved a letter in the mail directing me to call an 800 number to verify some information. I called the number and the teller on the phone did not really ask me anything regarding my financial situation, only to verify my social security number, address and other basic information. The call lasted perhaps 5 min at the most and I was immedialey offered a credit line of 1500. An email was dispatched to me to a couple of days after this, which I have included below. The packet I recieved yesterday. It contained all the usual paperwork regarding terms of the card, how to verify the card, and information on how to set up my Chase account online.
While this card has 1000 dollars less avalible to me as far as credit line than my US Bank cards, this stands to reason since I have a long standing relationship with US Bank and have banked with them for well over 7 years. Nonetheless I feel much more content now that I have diversified my credit a bit.
Congrats! That's a great 1.5% cash back card for sure.
I just got approved by Chase for a toy card FU $500 limit at TU 635 but I burned them REALLY BAD about 7 years ago on a chargeoff and was never expecting any CC love from them at all. I'm going to play PIF on the card for 3 months and then let it report 99% and PIF the day after statement to see if they give me an auto-CLI. Chase can be stingy with CLIs if you don't utilize the credit limit, according to a few years of data points on that card.
Congrats on your approval !
I got back in with Chase with the classic Freedom at a $2k SL, after a year that went to $10k (HP) and when they introduced the "Unlimited Version" I was able to switch from the regular Freedom to the unlimited (same account number). By getting back in with Chase I was subsquently approved for the AARP Signature Visa ($6k SL) and Chase Amazon Prime ($5k SL). Only think I don't like about the Freedom Unlimited is the high APR (both other Chase cards are less), but since I generally PIF it's really not an issue other than I'd use it a lot more with a lower APR.