Chase Freedom

[Jungook]

So I finally got off my butt and opened a Chase College checking account on the 31st to get the 2013 open date. As I was opening the account I asked several questions to the banker. He seemed extremely knowledgeable in his area of work and I am grateful for the time he spent answering my questions. He knew that I had done my research on the bank and respected the fact that I had a credit card at a young age. However, he tried to slide in the Freedom card offer (with the $200 sign-up bonus ending soon, to entice me) but I knew that my credit profile was still too thin. The banker had told me the Freedom card was actually an entry level card for individuals to build their credit rather than my idea of it being a mid-level card. I wanted dearly to apply as the Freedom as been on my radar for awhile now but I wanted to consult with the myfico experts before hand.

Basically, what are the general requirements in order to be approved for the Chase Freedom? I have a Discover IT with a $500 limit and some student loans. I've had around 4 months of revolving credit along with 5 months of student loans. I had told the banker I would rather wait till I had 6 months of revolving credit before I applied and now I am asking you guys if 6 months will be enough history for the Freedom. I have <10% utilization on my cards and only 1 inquiry on my CR from the Discover app. If I were to succeed in getting the Freedom will I get the annual 10% bonus since I have a college checking account with Chase?

Also would it be wise for me to ask for a Discover CLI or app for the Freedom first? Thanks.

[09Lexie]

Ask for the CLI on Discover-see if you are eligible for a sp. 

Freedom is the entry level card but it still requires credit history.  Chase has been pretty consistent in wanting 6-9 mos of rev cc history.  You definitely want to app when you can receive a higher CL than the $500 you might get now because their CLI's are HP's. 

edit: typo

[daybreakgonesXe]

6 may be too short, unless you can get your banker to back you up and recon.

Generally people have a better shot at approval at the one year mark! Personally, I would app Freedom first then ask for a CLI through Discover, UNLESS you can get Discover to soft pull you!

All the best!

[Jungook]

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@09Lexie wrote:

Ask for the CLI on Discover-see if you are eligible for a sp. 

Freedom is the entry level card but it still requires credit history.  Chase has been pretty consistent in wanting 6-9 mos of rev cc history.  You definitely want to app when you can receive a higher CL than the $500 you might get now because their void are HP's. 

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Thank you Lexie for the suggestions, I will look into the sp cli tomorrow. I didn't get the last part of your post though, "because their void are HPs", I don't know what the void is. Could you please clarify? Thanks.

[Jungook]

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@daybreakgonesXe wrote:

6 may be too short, unless you can get your banker to back you up and recon.

Generally people have a better shot at approval at the one year mark! Personally, I would app Freedom first then ask for a CLI through Discover, UNLESS you can get Discover to soft pull you!

All the best!

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Ah yes, that is another reason why I started a relationship with Chase. 1 year is ridiculous though! Hopefully I won't have to wait that long.

[09Lexie]

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@Jungook wrote:

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@09Lexie wrote:

Ask for the CLI on Discover-see if you are eligible for a sp. 

Freedom is the entry level card but it still requires credit history.  Chase has been pretty consistent in wanting 6-9 mos of rev cc history.  You definitely want to app when you can receive a higher CL than the $500 you might get now because their void are HP's. 

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Thank you Lexie for the suggestions, I will look into the sp cli tomorrow. I didn't get the last part of your post though, "because their void are HPs", I don't know what the void is. Could you please clarify? Thanks.

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Stupid iPad..it's fixed to say CLI's not void

[wHiTeSoL]

The checking bonus will still be there when you do get the freedom. It's an additional 10% on your cash back earned through the freedom, so no need to rush to get the benefit right away. 

[CredittotheMax]

1. Chase didn't approve my freedom card until I got a year of credit history. "They specifically told me my credit profile is too short and to wait a year." But, I'm a college student, but on the other hand, older guys with stable salary get approved with little to none credit history.

2. CLI with discovery first is wise because even if you do get approved for the freedom, the CL will likely be $500.

3. When I set up my checking account (with 0 credit history), the banker also try to get me to sign up for the freedom card and was denied three times. The banker WILL   SAID ANYTHING TO GET YOU TO APP FOR A CC.

4. The freedom card is definitely not a entry card, I would think the chase slate is the entry card.

[wHiTeSoL]

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@CredittotheMax wrote:

1. Chase didn't approve my freedom card until I got a year of credit history. "They specifically told me my credit profile is too short and to wait a year." But, I'm a college student, but on the other hand, older guys with stable salary get approved with little to none credit history.

2. CLI with discovery first is wise because even if you do get approved for the freedom, the CL will likely be $500.

3. When I set up my checking account (with 0 credit history), the banker also try to get me to sign up for the freedom card and was denied three times. The banker WILL   SAID ANYTHING TO GET YOU TO APP FOR A CC.

4. The freedom card is definitely not a entry card, I would think the chase slate is the entry card.

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DW got approved for a freedom with only 4 months of Cap 1 history so it's not a hard fast rule but most people are right, you'll be better off giving it the extra time. 

[killer_queen229]

Wait almost a year. I don't think Chase would have approved of me a few months ago and Discover certainly didn't in July. Now Chase Approved of me for the Freedom with $3,000 limit. Discover approved of me for IT for $4,000 limit.