Chase Freedom...Apply or Wait

[Legen-waitforit-dary]

First, I just wanted to thank everyone on the forum for the info you all have provided.  Even though my account is new, I've been looking at this forum for information for the past few months. It's been very helpful and beneficial for a college student (with no credit knowledge) like me. 

I would like to apply for the chase freedom card, but I'm not sure about my chances. I currently have two cards:
Wells Fargo Student Visa- $800 limit - 8 months old- paid in full every month 
Discover More Student- $1300 limit - 5 months old - paid in full every month 
My utilization is 27% 

I have a bank account with chase thats 8 months old, but it only has a $30 balance. I also have two inquires(both four months old) on my equifax report, and three inquires(2 four months, 1 six months) on my experian. My equifax score is 735, I don't know experian. I currently make 12k a year, since I'm a part time college student. 

Any advice would be great, Thanks ! 

[Simply827]

I would say wait a few more months to let your cards age. I've read Chase typically likes to see at least 1 year on a card.

[eviLution]

I'd wait til your Wells Fargo Visa is aged to at least a year old first. Chase likes to see at least 1 year of experience with revolving credit first, but if you have big assets in their checking they will let you in with less experience. 

[longtermgardener]

As others have said, Unless you have a direct deposit with big salary credited every month into your chase checking account, I would suggest you to wait for 4 more months and then apply. I applied with 8 months of history with scores around 680-740 and was rejected. They only pulled EX for me. I did called and asked for recon thrice but each time the response was same. i.e lack of history with revolving accounts. One of the analyst told me they can't approve anyone without 1 year history but I have seen few people on this forum getting approved with lesser history.  You can say if you apply now, odds are 50:50.

[fledgling]

I'm in a similar boat as you and applied 2 days ago, got the "we'll notify you blah blah blah" response, which I assume is pretty much a rejection. 

My oldest line is a closed Capital One Secured opened last March. Besides that I have an 8-month old Discover More, and a 7-month old Amazon Store Card. Experian is 693 and I don't know about the other two. Hopefully this helps.

[Legen-waitforit-dary]

Thanks for all the help everyone!! I'm just going to wait, and give it a shot later. 

[LS2982]

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@Legen-waitforit-dary wrote:

First, I just wanted to thank everyone on the forum for the info you all have provided.  Even though my account is new, I've been looking at this forum for information for the past few months. It's been very helpful and beneficial for a college student (with no credit knowledge) like me. 

I would like to apply for the chase freedom card, but I'm not sure about my chances. I currently have two cards:
Wells Fargo Student Visa- $800 limit - 8 months old- paid in full every month 
Discover More Student- $1300 limit - 5 months old - paid in full every month 
My utilization is 27% 

I have a bank account with chase thats 8 months old, but it only has a $30 balance. I also have two inquires(both four months old) on my equifax report, and three inquires(2 four months, 1 six months) on my experian. My equifax score is 735, I don't know experian. I currently make 12k a year, since I'm a part time college student. 

Any advice would be great, Thanks ! 

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Welcome to the forums!!!

IMO I wouldn't waste a HP right now. Wait until you have more than a year history on on of your accounts and give it a try. Low income may come into play but you can always recon a denial.