Chase Freedom Application Response..."30 day wait"

[yfan]

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@Anonymous wrote:

Yfan...

Thank you for your reply. I did'nt mean to sound over anxious or anything but I heard that chase is very selective with new accounts! I have applied at chase in the past and have been declined everytime, granted at that point I was near my limits on other cards, high utilization, and only had one auto lease and no student loans or anything. Currently about two years later I have more on the table to offer. I know chase likes high credit scores, but mine are average, I was just wondering if anyone received this type of message and what it typically means. I want to merge my other credit cards onto the freedom. Thanks for your reply.

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I don't think that your score and income alone will cause you to be denied, if that's what you mean. But your utilization might. If you have 40% utilization, prime lenders aren't too happy about that. Also, if you are carrying a balance, you should be looking for a balance transfer card that has 0% (such as Discover or Chase Slate) for an extended period of time and focus on paying down your debt until you can PIF every month. Because believe me, any 'rewawrds' you earn is dwarfed by the itnerest you are paying. Rewards cards only make sense if you can PIF every month - not just the rewards card, but all your cards.

[Anonymous]

Plastic_man...

I am going to do that. I was going to wait until tomorrow morning (Monday) that would be the 10 day mark. I will just call and speak to someone who can review my app (they will most likely review info, verify identity, and probably another hard pull).

I did notive that in the time that I have applied, chase has pull experian, TU, Equifax and they entered a hard pull on each. Since they did that I hope I get approved so the inquiries are atleast worth it. LOL!

[Anonymous]

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@Anonymous wrote:

HeavenlyFlower...

I hope your right. I intially received the "please allow us 30 days to review your app" online, then received the "your app is still under review, we will notify you in writing within 5-7 days"...I did'nt receive any emails (not even one for thanks for applying) I am just still waiting. I don't really want to call them as of yet unless I have to, I figured if I get denied I will call for the recon, if I get approved I won't call at all unless the credit line is rewally low.

I am the same way with the 30 day (it kills me) lol. When you called, I wonder why they needed identity verification, when it was all verified when you applied. I also wonder why they did'nt just call you and ask for it instead of waiting so long.

Thanks for the positive input and support!

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No problem They needed to verify my identity bc Experian put a fraud alert request on my reports that I didnt ask for when a fraudulent account was deleted. I dont think many lenders follow up with a call when something is needed, the norm seems to be that they automatically issue a letter and you sit waiting for it in the mail. No fun! But there's nothing wrong with being patient.

[Anonymous]

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@Anonymous wrote:

Super_AL...

 if you don't mind me asking...

What was you untilization percentage at?

What were your credit scores ballpark?

The only other card I have that did this app under review thing was discover and they approved me after 5 days for $1,000 limit.

Thanks for your input.

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My utilization was at 22% at the time and my FAKO CK Score was 651 and i had 11 Hard Inquiries at that time..................i've been lucky i guess

[Anonymous]

Yfan,

I am not worried about my score income, I am more worried about the utilization...I have student loans at 16k, chase auto finance for 12k, hyundai financial lease for 15k, and I have $6,700 in available credit on all of my cards combined and only carrying about $300-$400 balance on each. I am hoping that Chase will overlook it and see that I pay on time with balance relatively low, plus I make multiple payments per month of each card. Only time will tell, but the wait just kills me. I am almost feel like calling today or tomorrow, but I don't want to call and blow it for myself...I think it might be best to let itself work itself out and call if I get declined.

Thanks.

[Anonymous]

HeavenlyFlower,

I forgot about that...I had a fraud alert for 90 days put on my credit report because while I was vacationing in Florida about three weeks ago, I came home to fraud on two of my cards, as a precaution I ordered new cards and equifax plaxe a fraud alert on my credit report for 90 days. Maybe I am in the same situation as you, I should probably just call and get it over with. 

Anyone know if chase is open on Sundays?

[Anonymous]

Call them! Screw patience lol That sounds terrible but seriously if you're aware that there's an alert on your reports I would definitely call them. If I recall correctly when I called to transfer some of my Sapphire limit over to Freedom it was a Saturday.......I'm almost sure it was the weekend. You wont know until you call

[Anonymous]

HeavenlyFlower,

Calling now, will give you an update when I get off the phone. I hope I can BS my way through this lol.

Wish me luck, speak to you soon.

[Anonymous]

Heavenly Flower,

I just called and was on hold for 10 minutes, customer service rep would not transfer me to an account specialist, but she did look up my account. She said the system reflects that the application was received and it has been processed and that is currently pending review in th lending department ...before they send out the final decision. She said that I should recieve a letter in the mail within five business days from today or my card with the details within five days if approved. That is sort of good news because it means that I was not immediately declined and I am still not declined currently, but there is a possible that I can be. I guess I was passed through the original process or approval and now they are just going to determine a credit line limit if approved. I wish they could have just given me an answer right now...she was a really nice woman, but her exact words where, "I see in the system that the application has been processed, and it currently being reviewed by the lending dept" and then she said "you should receive your card or a letter stating why you were declined within five business days from today". To me it sounds like I am going to get declined or at the very least given a crapy credit line. I asked her for a reconsideration number in the event that I do get declined and she sounded shocked lol...

[Anonymous]

I'm going to cross my fingers for you. My initial limit for the Freedom was $500, a month later I applied for Sapphire and that limit was 5k Not saying you will get a small starting limit but if thats the case then there's still hope. Think positive!