cancel
Showing results for 
Search instead for 
Did you mean: 

Chances with Chase Freedom

tag
laboi_22
Established Contributor

Chances with Chase Freedom

I recently applied for a Chase Freedom. I currently have a Capital One with a $500 CL and a Bank of America with a CL of $1000. I applied online and got the 30 day message. Which is not unusual for me since I have a fraud alert and usually have to call in to verify information after I get the letter. Just wondering what my chances are here is my info:

 

myfico score for equifax is 656 because I've had like 7 inquires recently applying for cap one and boa while also applying and getting declined with other cards like Amex and Discover. I have 2 mortgages over 5 years old (one with BOA) I make about 80k a year and I have a car note with the above mentioned CL's I'm currently using 15% of my credit and always pay off my balances each month and have never had a BK or even a late payment ever.

 

Any ideas on what my chances are since my credit score is so low?

 

Thanks

Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Message 1 of 6
5 REPLIES 5
tntexans72
Valued Contributor

Re: Chances with Chase Freedom


@laboi_22 wrote:

I recently applied for a Chase Freedom. I currently have a Capital One with a $500 CL and a Bank of America with a CL of $1000. I applied online and got the 30 day message. Which is not unusual for me since I have a fraud alert and usually have to call in to verify information after I get the letter. Just wondering what my chances are here is my info:

 

myfico score for equifax is 656 because I've had like 7 inquires recently applying for cap one and boa while also applying and getting declined with other cards like Amex and Discover. I have 2 mortgages over 5 years old (one with BOA) I make about 80k a year and I have a car note with the above mentioned CL's I'm currently using 15% of my credit and always pay off my balances each month and have never had a BK or even a late payment ever.

 

Any ideas on what my chances are since my credit score is so low?

 

Thanks



So no baddies = good

15% util = good

7 inquiries = bad

AAoA = ???

 

Because Amex & Discover declined you...I would say more than likely, Chase will declined you also. Have you try to recon with Amex & Discover? At this point, I wouldn't app for any new CC. I would wait 6 months, maybe 1yr, get your score up to 680 than try again. Good luck as I would try to recon with Amex & Discover if you haven't done so already.

Message 2 of 6
laboi_22
Established Contributor

Re: Chances with Chase Freedom

Do you know how long they hold old applications? I can try to recon with both but it's been since May since I applied. Will they still have my app on file?

Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Message 3 of 6
wollepopolle
Established Contributor

Re: Chances with Chase Freedom

Venturing an educated guess I'd say it's a denial. Likely too many recent inquiries. I had one one month old inquiry when I applied for the Freedom and was declined. Then, eight months later, I re-applied and instantly approved. Chase seems to be very inquiry sensitive.

 

 

Message 4 of 6
Anonymous
Not applicable

Re: Chances with Chase Freedom

Well I would say the best route is to call the backdoor number and see what you can do.  I had significant inquires on my credit report, and after a little wheeling and dealing I was apporved for a $2000 credit limit.  But that also was based on prior business with Chase through their auto finance department.  One concern I would have though is your lower fico eq score...  But give the backdoor number a shot, and worst case scenario, wait 6 months to a year and try again.  I know it can be frustrating, but the Chase Freedom card is a great one to have.  I love it already.

Message 5 of 6
SocalMark
Regular Contributor

Re: Chances with Chase Freedom

727 score and 8 inquiries got me $500 It's a start hope for some nice cli.

Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.