Chase Freedom: Sock it or cancel it???

[Anonymous]

It's very weird how different banks just like certain profiles.  The Freedom was my first non-secured card, and I got weeks after being turned down from CapOne, BOA and others. They gave me a great SL (to me, $2500) to start and it continues to be my highest CL. I'm not what most would consider a high income customer (I make less than $40K/year, single income household).

Anyway, I'd keep the card if you use it. And this is a good quarter. Cell phone and internet bills should be on a CC anyway, and if you have places around you that take Android or Apple Pay, that's great (I'm struggling to find places that do).  A $500 limit is plenty usable, particularly for the 5% rotators. You can even hit the quarterly $1500 max without making multiple payments (though I personally do and would).

[longtimelurker]

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@Anonymous wrote:
I’m somewhat surprised by how long the responses have been. Most relevant info has been provided, but there’s a lot of added fluff. In my understanding, it’s well agreed upon on these forums that:

1) You should never close a zero AF card, for multiple reasons mentioned above

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There is actually a lot of disagreement on that!  A lot of us subscribe to the view of getting rid of "clutter".   The advantages of keeping a low CL card as your entire profile matures becomes pretty small, especially as it will stay on the CR for usually quite a long time.   The advantages of closing can be similarly small (less to monitor with a decreased risk of fraud, no worry about periodic transactions to keep open, helps reduce the possibility of meeting exposure limits with an issuer or overall).    My position has been that the disagreements become more heated precisely because the advantages on both sides are so small.

But agreement, no!

[Anonymous]

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@Anonymous wrote:
Chase Freedom was one of my first cards when I started my credit journey and I was happy with the measly SL of $500. That was then, this is now...after two years, is my smallest limit by far. No auto-luv (that’s not something, I hear, Chase does), and I wasted a hp because I thought I’d get the cli based on my length of account, 100 percent on time payments, pif every month, other data points a good: scores low 700’s across all bureaus, no Bk’s, no baddies. Should I cancel the account or just put it in the sock draw?

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In the same boat as you.. Only difference is I have the Freedom Unlimited. This is one of my first card when I started rebuilding and it took a month before I found out I got approved. Was initally approved for 1K then after 6 months I decided to take a HP hit for a CLI and was given another 1K leaving me with a line of 2K. After few months I appd for the Amazon Prime card and was approved for 2K I then moved 1K from FU to the Amazon Prime card. Still no auto luv from Chase.

Thinking of requesting another CLI..