Chase Freedom Approval... Should I...?!?

[Anonymous]

---

@takeshi74 wrote:

---

@Anonymous wrote:

22% but that doesn't bother me, I don't let my cards carry a balance, I PIF.

---

You can try to recon but if they gave you a low limit and a high APR then they're concerned about your credit and I'd guess that your odds are slim at best.

Amount of time isn't really relevant.  It's when your credit improves sufficiently that you can expect to receive better CL's, APR's, etc.  If you have derogs then visit the Rebuilding subforum and see what you can do to address them.  If your utilization is over 30% then get it down.  If it's under 30% you may want to consider optimizing utilization (only 1 balance reporting at 10% or less) and ensuring it's reported prior to applying for anything.

---

I have decided to chill & wait a bit... I already knew I was a borderline approval - I was expecting that much, I was just EXTREMELY happy & satisfied to get in there with Chase!!!

Synopsis of my stats: 1 auto loan (2 yrs. into it), 1 derog, a $62 med. bill in collections I had no clue of from back in 2010 (again I did not pay attention what so ever to my credit up until this past April)  - not even going to bother with it, I will let it run it's course... My utilization just dropped to 16% from 19% - I like to PIF yet let some run a balance, it's been working for me so far... Of course my inq's that reflect my siggy... Then I just received my FICO 8 through DISC (TU): 729... Edit: 100% on-time!!!

So all in all, I really have nothing to complain about, being that my current credit came from nothing (so to speak)!!! So I have decided to take my finger off the trigger, it's for the best!!! But Hey, Thanks for your advice & input - & Good Luck to you!!!

[Anonymous]

---

@gblb wrote:

OP I  have personal experience in this matter. Was given the 500 toy limit to start. I did wait a few months before asking for a CLI and was successful. It wasn't major (just 1k) but it did the trick. My advice would be reflect honestly on your narrative. They asked me in depth questions and wanted to know reasons for inquiries and recent car lease. If you are prepared to offer a very logical story for these types of questions and have a solid profile of util etc go for it. Waiting a month or two of good faith can't hurt either.

---

Thanks a lot for your reply & advice!!! I decided to wait, I'm thinking 3 months - we'll wait & see!!! I do have my amo ready however like you say when it comes time - it will be pretty new to me, for I have not had to recon anything just yet but I think it would be a good learning experience!!! Once again, Thank You!!!

[Anonymous]

---

@Hockeyplayrr wrote:

I'd wait six months.  I was initially approved for a freedom for $700 and the highest apr.  Fast fowards 6 months and I got the marriott card for 5k.  Fast foward 3 months from then and I got approved for the CSP for 5k (auto to 6.5k).  I barely put any spend on the freedom besides some gas when it was 5% back.  So I think they just like to watch people for a little bit. 

---

Thanks for the advice!!! I have decided to wait, probably more like 3 months however... I will have to wait & see until then where I am with everything... Thanks again!!!

[Anonymous]

---

@TheFate wrote:

---

@Closingracer99 wrote:

---

@TheFate wrote:

In my opinion it's usually a bad sign when offered the highest rate APR. Yes, true you may never carry a balance to encounter that but the picture is bigger than that. 

Why did I get approved with the highest rate APR? 

Just something to keep in mind but I highly recommend anyone to counter an initial offered CL if ur not satisfied. Worst answer u can get is no right? 

---

How so? For me  I'll be getting the Highest APR% for a while since I am pretty new to Credit AAoA is 5 months and my oldest card is 13 months old... I got Approved for $3,500 and the 22.99% APR with my Chase Freedom Card. Personally I think the High APR% means nothing to what CL you might get imo

---

Your scenario may be different. Did you previously have history with Chase before applying? Bank accounts etc...

Its not always the case but most of the time from what I've seen is if you're approved with the highest APR they offer, the initial CL is small and CLI are smaller increments. 

But like I said that's not the case for everyone just most. 

Id say go for it OP You got nothing to lose

---

Decided to wait... Very ironic on my approval with a high APR & Low CL - just receieved my FICO 8 (TU), it;s not all that bad - it was an increase...?!? LOL!!! Thanks for your input, insight, & advice - Very Much Appreciated!!!

[Closingracer99]

---

@Anonymous wrote:

---

@takeshi74 wrote:

---

@Anonymous wrote:

22% but that doesn't bother me, I don't let my cards carry a balance, I PIF.

---

You can try to recon but if they gave you a low limit and a high APR then they're concerned about your credit and I'd guess that your odds are slim at best.

Amount of time isn't really relevant.  It's when your credit improves sufficiently that you can expect to receive better CL's, APR's, etc.  If you have derogs then visit the Rebuilding subforum and see what you can do to address them.  If your utilization is over 30% then get it down.  If it's under 30% you may want to consider optimizing utilization (only 1 balance reporting at 10% or less) and ensuring it's reported prior to applying for anything.

---

I have decided to chill & wait a bit... I already knew I was a borderline approval - I was expecting that much, I was just EXTREMELY happy & satisfied to get in there with Chase!!!

Synopsis of my stats: 1 auto loan (2 yrs. into it), 1 derog, a $62 med. bill in collections I had no clue of from back in 2010 (again I did not pay attention what so ever to my credit up until this past April)  - not even going to bother with it, I will let it run it's course... My utilization just dropped to 16% from 19% - I like to PIF yet let some run a balance, it's been working for me so far... Of course my inq's that reflect my siggy... Then I just received my FICO 8 through DISC (TU): 729... Edit: 100% on-time!!!

So all in all, I really have nothing to complain about, being that my current credit came from nothing (so to speak)!!! So I have decided to take my finger off the trigger, it's for the best!!! But Hey, Thanks for your advice & input - & Good Luck to you!!!

---

I would see if you can pay off that $62 med bill in collections and see if they can change that for you 

[pip3man]

---

@takeshi74 wrote:

---

@Anonymous wrote:

22% but that doesn't bother me, I don't let my cards carry a balance, I PIF.

---

You can try to recon but if they gave you a low limit and a high APR then they're concerned about your credit and I'd guess that your odds are slim at best.

Amount of time isn't really relevant.  It's when your credit improves sufficiently that you can expect to receive better CL's, APR's, etc.  If you have derogs then visit the Rebuilding subforum and see what you can do to address them.  If your utilization is over 30% then get it down.  If it's under 30% you may want to consider optimizing utilization (only 1 balance reporting at 10% or less) and ensuring it's reported prior to applying for anything.

---

@takeshi74 hmm ur comment is striking, in my case $500 CL, APR 14.99%... makes me wonder if I got any chance by pulling the trigger