With my scores - CHASE FREEDOM

[17NewBeginning]

Well gaallllll-lee!!! I was approved for the Chase Freedom card @ 1k ( I thought I would only get $500 IF I was approved).   I know it's small, but with my scores in the rebuilding stage; I'm so grateful.

As of today:  TU 599, EQ 574, EX 616

Applied on 5/4.  Went to 30 day message until Sat, 5/6, 7-10 day message.  Just called the verification number you wonderful folks on this forum provided.  The lady verified some information, asked to send a text to my phone and then told me I was APPROVED!!!  Chase pulled EX only.  

I was also approved for Cap One Platinum instantly on 5/4, pulled all three, again because of the suggestions here on the forum to apply for the platinum instead of the QS due to PC opportunities in the future.  I was only approved for $500, BUT I burned them about 10 years back, so this is great for me.  I also have NFCU cashRewards, nRewards and Discover IT.  I have never had a Chase card, which is why again, I am sooo grateful!

Please give me pointers on the best way to treat this card in order to receive all the CLI's I can and be able to apply for Amex BCE in the coming months.

Also, is a store card necessay??  I plan on gardening rather I'm approved for the Amex or not in the future, but someone stated I should get at least 1 store card.  Is this correct?  Or would a Shell gas card suffice? 

Thanks to you all!!!!

[Anonymous]

Wow!  Chase approval at 616 is fantastic, congrats!

Don't be too credit hungry right after the Chase approval based on other people who are getting all their Chase accounts closed due to high inquiries, new accounts, high utilization, balances.

[Anonymous]

Congratulations on your approval, especially with your scores. Chase isn't really known for growth with CLIs, so you may be at that limit for a long while.

Adding a store card, NO you do not need to have one. Having 3 cards of any type is 'ideal' for scoring purposes, but I would not be in a hurry to get another right now.

Garden what you have for at least 6 months, the Cap1 should at least grow, and you should have better scores then to apply for something else you may want to have to add to portfolio. Take your time, don't rush

[sjt]

Congrats on the approval!

I would garden for at least 6 months. There have been reports of Chase shutting folks down for too many new accounts. Pay in full and keep your utilization to a minimum.

[Anonymous]

Congratz!!! You have just now given me hope!. I may just have to take a swing at this card.

[17NewBeginning]

Thanks all!!!  I will not be applying for any other cards until all three CB's are between 675-700 and I will then ONLY apply for an AMEX.  That will be enough for me.

[sjt]

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@17NewBeginning wrote:

Thanks all!!!  I will not be applying for any other cards until all three CB's are between 675-700 and I will then ONLY apply for an AMEX.  That will be enough for me.

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Again CONGRATS!

Regarding your question about getting a retail/store card. I would hold off on that for at least 6 months. 

Also, can you give us your credit profile as it would be helpful for data points on Chase approvals and to give you some advice on raising your score.

[Anonymous]

I don't know if the gardening thing is neccessary like people say on here.  I had a 526, 527, 526 FICO Scores on January 15th. I got 12 cards over the next two months then in the middle of April got a Barclary Arrival + with a 4k limit and it made my scores rise even further.  Now at 656, 710, 648.  Perhaps all the additional cards having payments make me have a much lower percentage of payments ever being late.  My Trans Union was at 700 when I applied for Barclay. The additional pull knocked scored down to 697 then when the 4k reported of new credit reported it me up to 710.  I have utilization of 8 percent with 69k of available credit.  All utilization is 0 percent interest.  My Pottery Barn Card was at 54 percent and I got my cli and paid 300 dollars down so my scores will probably jump higher as soon as that reports in a few days. 

Congrats on the Chase Freedom.  

[Anonymous]

You have a nice set of cards that I'd suggest hitting the garden with! That NFCU Cash Rewards alone will blossom very nice! Nice job on the Chase approval!!

[sjt]

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@atomicfront wrote:

I don't know if the gardening thing is neccessary like people say on here.  I had a 526, 527, 526 FICO Scores on January 15th. I got 12 cards over the next two months then in the middle of April got a Barclary Arrival + with a 4k limit and it made my scores rise even further.  Now at 656, 710, 648.  Perhaps all the additional cards having payments make me have a much lower percentage of payments ever being late.  My Trans Union was at 700 when I applied for Barclay. The additional pull knocked scored down to 697 then when the 4k reported of new credit reported it me up to 710.  I have utilization of 8 percent with 69k of available credit.  All utilization is 0 percent interest.  My Pottery Barn Card was at 54 percent and I got my cli and paid 300 dollars down so my scores will probably jump higher as soon as that reports in a few days. 

Congrats on the Chase Freedom.  

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If you read the other threads, Chase is begining to review new accounts holders and shutting them down for opening to many new accounts.

So I would be cautious before opening any new accounts.