Chase Freedom

[Anonymous]

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@Anonymous wrote:

So I went in and applied for Chase Freedom and then immediately CSP, both instantly approved. However I am NOT happy with the Freedom outcome;

22.9% APR

CL $4,500

I applied for both of these cards for travel purposes and I will need the Freedom to be Visa Signature (for travel benefits).

Questions-

1.) How often does Chase reassess APR (22.9% is my highest ever and ridiculous)?

2.) Will Chase allow product change to Visa Signature with CL at $4,500 ($500 away from Visa Signature threshold, also this is one of my lowest limits)?

3.) Should I just close the Freedom account and not open it? Will it still report as a closed account if I never activate card?

Please let me know your thoughts, Thanks all! 

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As the CSP is always Sig, why do you need the Freedom to be as well?

[CarbonCard]

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@creditconcept wrote:
They NEVER reassess APR (personal Experience)
They NEVER grant signature <5K (personal experience)

You should transfer 500 from your CSP to the freedon (provided your csp has a limit of >5K, and then ask for the signature upgrade. This is the hack method, and might work, but it could take upwards of a year (personal experience)

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Reasons I'm hating Chase right now. They also don't do SP CLI OP.. I

[Anonymous]

Because I don't want the hassle of worrying which card is Visa signature and not at the time of procurement. ALL my Visa cards are sig up until this card...

[compassion101]

I'm not sure what the big deal is for you. You already said that you pay in full so who really cares what your APR is. And for your credit line, are you looking to put more than 4500 spend in a month on one of the 5% categories? If you are spending in the 1% categories then use the CSP.

[Anonymous]

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@compassion101 wrote:

I'm not sure what the big deal is for you. You already said that you pay in full so who really cares what your APR is. And for your credit line, are you looking to put more than 4500 spend in a month on one of the 5% categories? If you are spending in the 1% categories then use the CSP.

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And the 5% max out anyway at $1,500 per quarter, so putting $4,500 a month would be bad idea there as well

[compassion101]

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@Anonymous wrote:

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@compassion101 wrote:

I'm not sure what the big deal is for you. You already said that you pay in full so who really cares what your APR is. And for your credit line, are you looking to put more than 4500 spend in a month on one of the 5% categories? If you are spending in the 1% categories then use the CSP.

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And the 5% max out anyway at $1,500 per quarter, so putting $4,500 a month would be bad idea there as well

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True that. I never really spend 1500 in a quarter on gas or restaurants so I don't even think about that.

[Anonymous]

For chase cardholders:

What is the CLI process?

How often do they CLI? Is it ALWAYS a hard pull?

Thanks!

[compassion101]

CLI is pretty rare with Chase. The cards don't really grow. Better off to move balances. Not sure if you can do that right away though.

I had 1800 on my initial Freedom. A year later I requested increase and went to 2100. Six months later again and went to 2600. Both were hard pulls. Then I apped for CSP and gave me 17k.

[leoment]

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@Anonymous wrote:

For chase cardholders:

What is the CLI process?

How often do they CLI? Is it ALWAYS a hard pull?

Thanks!

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Any customer-inititated CLI is 99% of the time going to be a HP.  Problem is, we've seen many reports of people submitting to a HP only to get relatively small increases ($500-1000, but can vary).  Thus another suggested method is to apply for another Chase card and transfer your credit line over.

Chase occasionally does give auto-CLIs.  I have a Freedom card from 2009 that started at either $3000 or $4000 (I forgot which) and through auto-CLI reached $5000.  From there, it was pretty easy to send a secure message and request to have the account converted to a Visa Signature (The account was >3 years old when I converted).

My biggest gripe with Chase is probably their refusal to reconsider/lower APRs.  My Freedom card was approved when I was 19 at an astounding 23.24% APR.  Their highest approval APR currently is 22.99%.  Considering my scores have gone up >150 points since that approval, I find it a little insulting that they refuse to consider lowering it (every time I've called to request an APR reduction I've received a generic "We review all accounts every 6 months" response from CSRs).  Case in point I was approved for another of their cards last year at the lowest offered APR rate. Thus the Freedom card sits in the sock drawer as my Discover IT card tends to have the same 5% categories.

[Anonymous]

I know it isn't the cl or apr you think you deserve but really neither of those things are the point with this card. If you apped for both the freedom and csp then the ONLY thing the freedom should be used for is the 5% categories and they are capped at $1500 per quarter and if you are planning on carrying a balance ever then this is the wrong card. If I were you I would use the card how you probably were planning on using it when you apped (I assume) and maybe hope for a cli at some point (like others have said very rare without a hp and even then can be difficult) If you were planning on using it some other way you probably shouldn't have apped for it in the first place and can do whatever you like with it at this point.

It's going to report at this point so if you are really just completely done with it I would get the spending requirement for the sign up bonus and transfer the points to csp and then sd it until they cancel for inactivity.