One of my goal cards is the Chase Freedom. Next month i will be clear of the 5/24 rule with plenty of room to app! I will be @ 2/24😁
I'm fairly confident i will get approved. However, I'm revolving some debt that i will have completely paid off by this coming spring.
If i get approved, i know it won't be at the SL that i want because I'm revolving debt and my score is not optimized. In the spring, my score will be optimized.
My question: Do i apply now and try to grow my limit? Or do i wait until spring and get a better starting limit out of the gate?
What has been your experience with Chase?
Thanks in advance!
@Anonymous wrote:
It's so hard to wait! I'm trying to wait til feb or later for my discover miles app. If you're confident that your SL will be bigger if you wait, then I'd wait. Most will say chase cards don't grow well. I have the freedom and the freedom unlimited. After 4 statements, I did receive an auto cli of 1k for both cards. My sl's weren't huge though. Started at $1500 for the freedom and 3k for the unlimited. I've had the freedom for 10 months. The unlimited, 6 months. They are my favorite cards.
Hey Roodog, thanks for the info! So you got both freedoms only 4 months apart, but double the credit limit. What do you think was the difference in your reports when you got your second freedom?
Essentially, you were able to "prime" your reports! Congrats! I've thought about getting both Freedoms and then going for the CSP or Ink in the spring of 2018 to convert the UR points.
Thanks, let me know what your thoughts are.
I say IF its not needed at this very moment, and you believe you will be better off in spring i would hold off. Oh how i know the feeling about wanting to do so now. I WANT to hold off to Dec to see if my bk fslls off my TU to hit the luv button on my Boa to increase chances of good cli( will also have made a payment or 2 to lower my BT balance) but im sooo tempted to do so now just to get it over with so i can head off to garden officially. Im not sure if i hit button now if thed see report as of today or their last update. Since my Sync cards balances havent updated yet but the Boa added all those balances, in sure my actual Fico has fallen too.
I gotta remind myself its only 2 months to go so thats what maybe you should do. Cant blame ya if you try now though.
. Support 100% your decision. Good luck
I gotta remind myself its only 2 months to go so thats what maybe you should do. Cant blame ya if you try now though.
. Support 100% your decision. Good luck
Sounds like a plan. Sorry about your car. Thats one reason i want to build strong credit so that the day i have to buy a new car i can get it at great rate. Never no what future holds but if i can make the next 2 years with health and job, and my car holds up, i can put my credit ro its true test haha. Once i get my reports all clean i may decide to add a Chase card for diversity. Thanks for sharing your story Roodog! Rooting for you for your CSP
. Sorry about your car. Thats one reason i want to build strong credit so that the day i have to buy a new car i can get it at great rate. Never no what future holds but if i can make the next 2 years with health and job, and my car holds up, i can put my credit ro its true test haha. Once i get my reports all clean i may decide to add a Chase card for diversity. Thanks for sharing your story Roodog! Rooting for you for your CSP
@AverageJoesCredit wrote:
I say IF its not needed at this very moment, and you believe you will be better off in spring i would hold off. Oh how i know the feeling about wanting to do so now. I WANT to hold off to Dec to see if my bk fslls off my TU to hit the luv button on my Boa to increase chances of good cli( will also have made a payment or 2 to lower my BT balance) but im sooo tempted to do so now just to get it over with so i can head off to garden officially. Im not sure if i hit button now if thed see report as of today or their last update. Since my Sync cards balances havent updated yet but the Boa added all those balances, in sure my actual Fico has fallen too.
I gotta remind myself its only 2 months to go so thats what maybe you should do. Cant blame ya if you try now though.
AvgJoe, you speak the truth! It can be hard/tempting to pull the trigger NOW vs LATER!
But, your right, It's definitely NOT needed at this moment. I will wait until spring time to fine tune my reports and so I can pay off my revolving debt.
I'll join you in the garden come spring of 2017!
@Anonymous wrote:
It's funny really. Chase gave a CARS score of 700 on that first freedom. I don't think I've ever had a 700. Perhaps on the auto scores or 9's! I had only ever had one credit card at that point. It had a $5100 limit. That card closed when I apped for a CU card and did a bt. Then, I opened 2 more cc's! The freedom unlimited was the 5th card in 4 months. I got the higher apr then the freedom, but also a higher limit.
They scored me about a 682 that time. Which actually meshed with the myfico scores. I started monitoring my scores when I got the first freedom. As I added cards, my scores went up. 623, 650, 660. this is what my scores were were looking like in Jan. When I apped for the freedom unlimited, I was more 670's and 680's, even my tu was in the 690's, still is. My scores were getting stronger, but the car got paid off and lost 20 or so across the board. But I apped just before that reported. Sadly, that car flooded out and just added myself a new car loan last month. :/
Even though I had just opened 4 new accts, they didn't seem to mind and were okay extending a little more, but at the same time, they upped the apr. Not really important to me though. I think the auto increases were lucky. Now at $2500 on freedom and the unlimited at 4k. Hoping to see some more increases, but not holding my breath after reading several chase forums. I'll just enjoy whatever they choose to throw my way on the cl's. Eventually, I may consider a hp on my unlimited, but I'm good for now. See what happens at the 1yr mark.
I have no idea what made them want to give me a higher cl that time. Maybe I used the freedom well enough they felt they could trust me a little more. I did utilize about 50% of that freedom right off the bat and let it report. Paid it either the 2nd or 3rd statement. I use the unlimited as my main card. In 0 apr, so I've carried balances on both for a couple months at a time and then paid off. I can't wait to be past 5/24. Going right for that CSP!
Interesting, so in conclusion it's fair to say the Chase internal scoring algorithm is just as volatile and unpredictable as the regular Fico score!
Yes, best wishes for your CSP.
@AJC. I was actually able to get 0 apr for 72 months on the car.
@grillandwinemaster. Sounds like you and I is waiting buddies. Lol. I was gonna wait til april/may, but I think it'll be more like feb/March for me.
@grillandwinemaster. Sounds like you and I is waiting buddies. Lol. I was gonna wait til april/may, but I think it'll be more like feb/March for me.