Chase Freedom : Approved

Anonymous · ‎09-06-2008

Applied through phone for Chase Freedom Card on Thursday
Got a 30 days notice on Friday while checking the status
Got Approved today and I should get the card in 7-10 days.

I do not know the credit limit yet, any idea how to find that out ?

I plan to close Cap1 (0bal / 750) and/maybe Mervys (0bal/400) if the CL of Chase is a good and bigger replacement.

Message Edited by voidman on 09-06-2008 08:29 AM

smallfry · ‎09-06-2008

@Anonymous wrote:
Applied through phone for Chase Freedom Card on Thursday
Got a 30 days notice on Friday while checking the status
Got Approved today and I should get the card in 7-10 days.

I do not know the credit limit yet, any idea how to find that out ?

I plan to close Cap1 (0bal / 750) and/maybe Mervys (0bal/400) if the CL of Chase is a good and bigger replacement.

Message Edited by voidman on 09-06-2008 08:29 AM

Congrats on the approval. Do you have good reasons to close those cards right now? It might actually hurt you. What is your credit situation re: other lines age of cards yada yada.

Anonymous · ‎09-06-2008

Thanks smallfry,

this is my credit profile.

As of last month, my Fico scores where between 690-710, so I assume they might have improved since then, coz that may be the reason I got the chase pre-approval.

Here are my other credit cards.

Wells Fargo 1000CL - Oldest card opened Nov'07
Capital One 750CL - Second Oldest Mar'08
Meryns store card 400CL - Mar'08
Wamu 4000CL - June'08

All my cards are less than 1 year old and so is my credit history. I am a immigrant here, so I will not be looking for house loan for a long long time. I will never be approved for other cards that will pull EX, coz it has now 11 inquires too many for any prime cards,
I bet on chase pulling TU that has about 3-4 inquires.

I want to age these cards for another 1-2 years, that will also help me drop most of the inquires from my report.

Another reason I want Cap1 to go is due to its low CL which is a slow/veryslow/never grower.

smallfry · ‎09-06-2008

I would just keep what you have and let them age. Dumping the store card will not help and having Cap One report positive payment history is going to help you. use them all a bit let 1 or 2 report low balances every month and you'll be fine. Don't close anything.

Anonymous · ‎09-06-2008

Thanks Fry,

That makes sense. I will keep it.